THE LARGEST TRANSFER OF WEALTH IN HISTORY. AND THERE IS NO WAY TO STOP IT | Gregory Mannarino

Okay, everybody. Here we go. It’s me, Gregory Mannarino, Thursday, October 3rd, 2024, pre-market report. As usual, lots of stuff to cover here. The war, the ongoing war, which you and I called from day one, was going to expand, and I mean expand. We haven’t seen anything yet. It is getting obviously worse. And this is, again, going to engulf the entire region at one point here and the rest of the world. There’s no doubt about it. Now, with regard to the port closures, the strike, still ongoing here, and yet, despite what we’re seeing here, I want you to consider this.

There’s nothing going on here with regard to the stock market. I was hoping for some kind of a catalyst here, at least to allow this market to normalize a little bit, but the promise here of Oceans of Easy Money is it’s a pretty large hurdle to overcome, and I don’t know if we’re going to get a drop in this market, anything meaningful. We need it. You know that. It’s a phenomenon. I mean, I don’t know another way to put it. What we’re witnessing here, we have not seen since the dot-com bubble with a market that just is unstoppable in the face of everything that gets thrown at it, this economy? We don’t even have an economy, okay? It’s a freak show.

It’s an illusion here, built on trillions and trillions and trillions and trillions of dollars of debt. I mean, it buys a heck of a lot of illusion here, and that’s what’s gone on over for the last three presidents. Nothing else matters here except debt, expansion of debt, currency devaluation, which we have to talk about, honestly. And again, look, man, you and me, we’re in the right spots. No doubt about it. And speaking of that, if you, my lovely friends, are in with me, JEPI and JEPQ, today you got your dividend payment, beautiful. Very nice this month here.

I will be utilizing that to buy more of this market, more specifically JEPQ, all right? You’re in on this with me? You’re loving it right now. You really are now. People look. I understand what’s going on. I know all the calls about a crash this month, a crash this month, and you guys and girls, I love you so much, and you keep sending me this stuff. Greg, what about this guy saying? Greg, what about with this guy saying? I don’t listen to these people, all right? They’ve been wrong 100% of the time. If they were right even 10% of the time, I would probably pay some attention to it, but they’re not.

They’re just not right. Now, there’s a lot weighing against this whole thing right now. You got it again. This port strike, a lot of people thought this was going to be a black swan or something. It’s not going to be that at all, all right? I think if this goes on, the Fed’s going to jump in here and give them an excuse to pump more cash into it. Every crisis requires one thing, cash to be thrown at it, and that will help the Federal Reserve fulfill their endgame. It’ll also boost the market, period. War, expanding war, unless there is a nuclear strike somewhere, this is going to also be proved to be bullish for the market.

It’s bullish for crude oil. That means the entire energy sector and the financial sectors, which are the backbones of this market, will get lifted. Look, the fact that we’re witnessing currency devaluation around the world included the dollar. The dollar is a dying asset. You all know that Central Bank issued notes. All of them are dying assets by design. This is not a comedy of errors or anything that got us here. That means you and I need to take action. People are being destroyed. What people are earning here, weight against inflation, which continues to rise by their own numbers.

We’re losing. This is the largest transfer of wealth that has ever been witnessed in the history of the world. The stock market keeps going up. Who owns most of the market? The 1% and 2%ers deal. The rest of us here, sure, we’re in here, but we don’t own anything compared to what the 1% and 2%ers deal. The fact that this entire system is collapsing on itself by design, again, this is not a policy mistake by central banks or the Fed more specifically. This is deliberate. People are getting, and they are right now, getting wiped out. There are no solutions being offered here.

During the presidential debate, no questions about monetary policy. The dying dollar. What the Fed’s doing right now. Why both presidential selectees are calling for a promising lower rates. Of course, this means a weaker currency. This can’t come up, but we heard about Haitians eating pets because that’s more important. Make it up, man. You can’t make it up. If you were writing a science fiction novel, you couldn’t come up with more – something like this. This is just beyond belief. You know, the thing is this. Look, you and I have talked about solutions many times. People don’t want to hear about it.

And the fact of the matter is, because of the divide and conquer mechanism, which is deliberate, people cannot unify on any particular topic. Let’s say, for example, let’s fix the system because they’re being deliberately divided. This mechanism is ancient. The fact that they keep people divided – these people have to hate these people, these people hate these people back – they can’t come together. Because if we were allowed to come together, we could elicit change, being that we are separated. Okay, we’ve never seen anything like this before, like the current environment. There’s no way. And I learned this recently.

I thought that people were more united, but they can’t unite. They’re united for whatever selectee they want to win, for whatever reason. They’re both enemies of us, we the people. Politics, all of it, is about deception. They’re masters of it, some better than others. They promise you all kinds of things that will never happen. They distract you with nonsense. They make stuff up to make you afraid of it. And then they say, I’m the guy or the girl to fix it. Do you understand? We cannot come together. I’ve learned that. People do not want solutions. They don’t want to come together.

They like where they are. And that means they’re easily manipulated, unfortunately. And that’s exactly what we’re seeing here. We cannot elicit change, period, if we cannot come together. And the deceptions, the lies, the propaganda, the look here, they don’t look over there. This is just going to get more extreme. And again, they’re going to come up with things you’re not even going to believe, but that’s just where we’re going here. So anyway, there is a lot weighing against this market this month, but I think the promise of easy money is going to overcome it all. So I do not see a crash this month.

Look, after the selection, all bets are off. I’ve been telling you this Friday night how freaking long. Anyway, let’s cover a few things. So J.P. Morgan now has a name for what’s happening to the dollar in this case here. It’s called the debasement trade. Why the debasement trade is lifting Bitcoin and gold. It may continue. Well, let me explain this to you. Not only is it going to lift gold, Bitcoin, all right, very volatile asset class. You all know that. I expect wild swings here. You should too. The fact of the matter is a debt market meltdown is going to push cash into gold, silver, commodities, and of course crypto as well.

But the interesting thing is that the name here, it’s called a debasement trade, the dollar debasement, the dollar destruction, the dollar devaluation. But remember, not Camelot, no Trump, nor Vance, nor Wilson, nothing, not a word, not a peep about it because they can’t allow you to know the truth. Again, it’s a deception. You must be set up. And that’s what’s happening to your writer because again, this is the largest transfer of wealth we’ve ever seen in the history of the world. And when this really gets moving here, when I tell you that people are going to get wiped out, they’re going to be wiped out beyond their wildest dreams.

They’re going to lose it all. So anyway, debasement trade. Now, that’s interesting. Here’s something else. Look, this is continuing to get attention and you and I have been way ahead of the curve on this. Dollar bears eyes shifts in global yields growth to play weakening U.S. currency. Now, it’s not just a dollar. It’s not just a dollar. It’s all of these central bank issued currencies. Sound familiar? You and I have been talking about this for 10 years. This is not going to stop. You won’t hear about it. Trump won’t talk about it. Camelot won’t talk about it.

Neither will Vance and neither will Waltz. But they will tell you about other things. I don’t know. Like I said, petting. Now, look, here’s an interesting one, too. Another thing you and I called. Pound Slides, as Bank of England’s chief says, it could be more aggressive, cutting rates. They’re all in it together. All these central banks are going to see more jump on board. It’s a destruction. It’s an elimination. Not the currency of you. You are being destroyed. You are being eliminated. You are becoming extinct if you’re a member of the middle class. But no one wants to talk about this except you and I.

Can’t make it up. Now, this is interesting, too. We touched on this yesterday. The S&P 500 has never been this expensive. It’s a disaster. It is a disaster. But if we understand that currency devaluation is going to continue on an epic scale like we’ve never seen before in the history of the world. Dollar debasement is going to continue again. People can earn whatever. It just is not going to make any difference here facing the currency being systematically destroyed. Meaning everything is going to become more expensive. Now, they’re going to tell you it’s not happening. They’re going to tell you it’s not happening.

They’re going to throw numbers at you to try to prove it. But we know it is happening because we have eyes to see, ears to hear. We shop. We pay attention to what’s going on. Here’s interesting. Obviously, there is this wing on the markets here, what Israel is about to do, what may happen. We don’t even need to guess. This is going to expand and engulf more and more areas and people. What does this mean? More funding. More funding created out of nothing. You’re paying for it. You. We are paying for it. But you’re not supposed to know that either.

Kind of an interesting thing. Now, I want to bring your attention to something very important here. This is the MMRI from this morning. Now, I want you to look at this again. This is not just squiggly lines. You’re able to see in real time what the Fed is doing, in this case, to debase the dollar or destroy it and buy all the debt. Now, screaming down trend. Now, look what happened here. We had this trend. We broke below the trend. Now, we’re starting to come up here. Again, the trend is still lower. But you see, when this line here, when you drop below, this is a support line.

When you drop below and then you go up here, that now becomes resistance. We need to see where this goes. Are we going to break through here and resume this trend or are we going lower? With what central banks are doing right now, I would expect this to probably go lower. But we’re keeping our eye on this because this is the key to this entire thing. Now, with regard to the market here and the fact that we are going down in a massive way at one particular time, again, going back to this, a disaster waiting to happen, this is our key to understanding it.

As long as this trend continues, as long as this trend continues, we buy it all. All, not just the stock market. We’re getting deeper into, obviously, silver, my favorite asset of all time. Gold, commodities across the board, and yes, of course, cryptocurrency. Take advantage of the drops in crypto. That’s my opinion. You’re entitled to your own accord. Everything is my opinion here. And if I’m connecting with you, if you understand what I’m saying, great. If not, that’s okay too. Just do your own research into all this. We’re being destroyed. We’re being absolutely destroyed, people. And there’s nobody to help us.

And we can’t help ourselves. I’ve come to know that. People do not want solutions. I don’t know what it is. They enjoy the boxes that they’ve been put into here. These people put in this box. These people put in this box. There’s no middle ground here. And this is deliberate. Again, this is the politics. Politics. It’s the game. Keep people divided. They cannot unify to elicit change. So we are leading ourselves to our own self-destruction. Does that make sense to you? Because that’s exactly what’s going on here. And people are going to get what they ask for.

They always do. And who’s laughing at us? The one and two percenters. Those running for president are laughing at us as well. Presidents don’t have any say in what’s going on here. And the proof is right in your face here. Currency debasement on an epic scale. Calling. Promises for lower rates. These are economic destroyers. A weaker currency, you know this, is an economic destroyer. Artificiously suppressed rates. An economic destroyer as well. We need the polar opposite. But people, they don’t care. They can’t come together. They won’t unify. You and me. You see, we’re smart enough to understand the fundamental principles of economics and finance.

Most people have no clue at all. Again, they don’t understand anything. They’ve been dumbed down to the point of they have no clue what’s happening to them and they just allow it to happen to them. They literally sit in the corner and suck their thumb off. And they wonder why things are the way they are. Because they can’t take action. They’ve been put in a place where they can’t do anything. And this is exactly what they want out of us. We are a controlled society. If you’re controlled to hate or controlled to love, well then you’re controlled, right? We know our strength lies here, people.

I don’t need to say it again. The more that I talk about God Almighty, the more people I lose here. You understand? It’s amazing. I’ve even had people tell me, Greg, if you don’t stop talking about God the Father, I’m going to unsubscribe. Well, do it. I don’t care. Look, I want the right people here. I don’t care if this channel gets cut in half. You understand? It doesn’t matter to me at all. I want the right people here. The people who are willing to understand that yes, we can make a difference. And there is a God the Father.

Understand the creator of all things. If that hurts you, well then I don’t know what to tell you, man. You don’t belong here and go out and do something else. I’m here trying to reach a specific group of people here. Smart people. People who can engage their brain. People who are willing to take action, man. Does this sound about right to you? It’s an incredible thing, man. It really, really is. Anyway, look, so what can we get out of this, people? War, as you and I called since day one, there were a lot of people out here that said it wasn’t going to go on and on and on.

They were all wrong. We understand the mechanism of war. I used to believe, as you all know, that it was the number one way for governments to pull cash into the now to borrow. Because war, at least it used to be war, was the number one way that so-called governments could continue to allow their central banks to inflate. The need for borrowed dollars used to be, at least, propagated by war, none more so than any other endeavor. But then came along the scam-demic and it proved to eclipse war. The war was on us. Again, under Trump, $3.6 trillion alone here in the United States for combat.

So war is secondary now to a scam-demic, of course. But again, look, they’re going to just be ready because you know what’s coming here. It’s not done. War isn’t done. I think a big part of this is to displace vast amounts of people and use them as petri dishes to allow disease processes to grow. And then, of course, offer you a solution to it. You can’t make this stuff up, but that’s exactly what’s going on here. It’s too simple to understand where we’re going here. So anyway, what do you think about this debasement trade? Again, it has a name.

No one’s talking about it. Trump ain’t talking about it. Kamala’s not talking about it. Vance ain’t talking about it. Walt ain’t talking about it. Oh, no, no, no, no. Because they can’t make this stuff up, man. Yeah, and when you understand that they’re talking about what’s happening to the dollar, you and I, we’ve been so far ahead of the curve on this. It’s unbelievable. Conflict is not going to stop. Let’s keep our eyes on this, my lions. Keep your eyes on this. We want to see what’s going to happen here. I’m going to be watching this all day and tomorrow and everything else just to see where this goes here.

Yes, this is a disaster waiting to happen, but we have this. We have this. We’re going to follow that. Time to let’s hit people. Oh, imagine our shock. You mean more central banks going to destroy their currency and artificially suppress rates to bring the world economy to its knees and its people to their knees? The largest transfer of wealth we’ve ever witnessed in the history of the world is already underway, full blown. There ain’t no way to stop it because, you see, the people cannot unify. They cannot come together. They’ve been dumbed down. They’ve been separated, divided, and conquered.

It’s pretty much over. They’ve been institutionalized in many, many ways here. The institutions are, well, obviously, instruments of destruction across the board, rule, control mechanisms, warping the way people are supposed to think. You can’t think for yourself because if you do, then you get shunned or anything. You must conform to what they tell you. You understand? And that’s how they keep us in line. It’s an incredible thing. But not you and me. You see, we’re too smart for that. We’re too smart for that. We’re out of the box thinkers. And we use our God-given intellect.

Oh, no, I said God again. That’s going to hurt people’s feelings and they’re not going to know what to do with themselves. Good. Just go away, man. These people think I care. They really do. I don’t care. I want the right people here. These other people can go anywhere they want to. Anyway, but that’s the people. This guy here loves your life from the heart. I hope you got something out of this. If you did, I want to hear from you. If you didn’t, I want to hear from you. Anyway, look, I can’t imagine people that are in better spots than you and I right now.

And again, my lines. If you got your dividend payment today, and I know you did, if you’re in JEPI and JEPQ with me, you know what I’m going to do. I intend to buy JEPQ at the market open. Yeah, I’m not looking to pick tops and door bottoms for you, but we’ve had a little bit of a pullback. And I don’t think we’re going to get the one that we actually need. And if we do, I’ll buy more. I will buy more. As long as the trend with the MMRI remains lower. No brainer, people. This guy got your back.

We’ll never let you down. I really hope you’re starting to understand what’s happening to the world and to you. I really do. All right. I’ll see you all later. 4 or 5 p.m. Eastern for the livestream. Have some questions ready for me. Let’s do it. And we’re going to have some fun later. I guarantee it. We always do, don’t we? Till we meet again, my beautiful, lovely friends. Please, take care of yourselves and each other. [tr:trw].

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