Okay, everybody, here we go. It's me, Gregory Manorino. Friday, December 8, 2023. People, let's talk. What's happening right now in this market is nothing short of some kind of a twisted miracle. And I mean that in a literal sense. What am I talking about specifically? We have seen a phenomenon occur, I don't think, which has ever been seen before in history. And I'm talking about this debt market. 

As you know, this thing is a time bomb. There is an enormous amount of effort, and I can't overstress that, an enormous amount of effort going into keeping the illusion real. With regard to the debt market. We went from the most vicious bear market in debt, in the debt market that we've ever seen in history, to a full on bull market that has caused bond yields around the world to drop. 

This is central banks getting in here, rigging the debt market as they always do. Again, it's just such a simple concept to understand. Since the last meltdown, central banks have gotten in here, bought all the debt. This has suppressed yields, reinflated a stock market bubble that is so absolutely freaking epic. It's hard to get your head around. That's a fact. But this guy sitting right here, the one thing, one thing that I look at every day is risk. 

Risk in this market. Now, we've seen that risk drop substantially based on looking at the ten year yield or bond yields in aggregate all over the world, and the relative strength of the dollar, which has been wavering around as of late. Now, as most of you know, I have said that I do not believe central banks are done rigging the debt market, pushing cash into the stock market, hyperinflating the stock market bubble on the back of the biggest bubble in the history of the world. 

We've never seen anything like it, of course, and that is the debt market, again, without more effort here, without much more effort from the Federal Reserve in this case, and central banks all over the world to keep faking the debt market, keeping rates suppressed, this entire thing could turn around like this. NOw, with that said, we need to keep our eyes on risk. Let's look at that real quick. 

The ten year yield was four point eleven just a couple of days ago. It's 4. 18 right now. Not a tremendous move, but something that we need to keep our eyes on. The relative strength of the dollar is stronger this morning. Crude oil is being bid up by almost 2% this morning. Okay, if crude plays, and it will, we're in an incredible situation with regard to crude oil, and in many ways, it's unique. 

We've seen several episodes of Contango as of late where futures traders are betting that the futures price is going to be higher than the current spot price, and this puts pressure on the spot price. It's a very interesting set of dynamics. Basically, crude oil traders are betting that the price is going to be higher in the future. And those bets are being placed right now. And depending on how the options contracts expire, it pushes the spot price of crude lower. 

But we're also in a bottoming process with regard to crude oil. This can be drawn out and very painful for a long time. This has been going on for a while and I think that's where we're at anyway. Looking back at this market here and risk, we must understand risk as investors, as traders, or people who just like to keep your eyes on the market, understanding that this thing that we are in is going to get very real and the illusion of the market again, understanding again that this is a presidential selection cycle, I think it's going to be kept real. 

In other words, people are going to see the market going up, they're going to believe the economy is strong, and they're going to forget everything else as their investment plans make money. That's how it always works with these kind of things, if you look back on history. So anyway, with that said, what I expect to happen here is a new phase of debt purchases, rigging of the debt market. 

I believe there is a very strong possibility we're going to see the ten year yield drop below 4% in the not so distant future here. They're not going to allow the debt market to implode. Market forces are enormous, and I mean freaking enormous. But as well, central banks have almost unlimited firepower. I mean, they can print and add digits to a screen in any amount they want. Of course, this is massively inflationary. 

You're not supposed to know that because the Fed's fighting inflation right now. But they're buying it all. And the more the Fed buys, the more cash they have to create out of nothing. Well, that's inflationary. Of course. You know how this works. Every bill added to the global pool of currency dilutes that or expands it, and that every bill has to steal a fraction of a fraction of a fraction of purchasing power from every other existing bill in whatever form they exist, and that creates inflation. 

But you see, again, you're not allowed to know that. The narrative must be maintained that central banks are fighting inflation. Nothing could be further from the truth. All they're doing is cutting off credit to small businesses, as you know, which are shuddering at their fastest pace ever. We've never seen anything like it. More so than the financial crisis, than the scandemic COVID, whatever else you want to call it. 

That's a fact. But again, going back to the premise of this video, we must keep our eyes on risk. And this thing seriously could get out of control. But I think the more likely scenario, the more likely scenario is the Fed and other central banks are going to buy more, buy much more, especially moving into the new year. And that, of course, is going to push more cash into the stock market inflating bubble much worse than we have right now. 

It's completely out of control. Anyway, this morning, looking at this market, stock futures are a little lower right now. Again, I think this is a buying opportunity for the market as long as they can keep risk at bay. All right, it's all about risk. Precious metals right now are mixed. Nothing going on. Crypto is nothing going on here. Crude oil is the story this morning getting bit higher by almost 2%. 

That is where we are at today, people. And look, like I always tell you, if we keep our eyes on things, we can't be beaten. We're invincible in my book. We're never going to nail it to the wall. 100% of the time. It's an impossibility, but we will be ahead of the curve for the most part. And I mean probably like 90% of the time. And that's important because, again, there are those that are seeking to literally destroy us, and we're not allowing that to happen via the propaganda ministry puppet government officials who actually work for the central banks. 

You all know this, and I'm preaching to the choir. Anyway, just real quick, if you're interested in catching those races that I was telling you about, Andrew Tesla, Plaid Channel, and me, my copo, I believe he's putting them up on his website today. Let me tell you what happened. I could not get my car to hook. In other words, I had no traction. I fried the tires. There was no prep on the track. 

Generally, a track is prepped. They put down glue so the tires will stick. In my case, with the drag radial slicks on it, I could not get traction. That was the first run. The second run, I lowered the tire pressure. Same thing. Couldn't hook. I couldn't hook for nothing. But I think there's another factor here. I think I have my wheelie bars adjusted too low. If the wheelie bars hit the ground too hard, the front's trying to come up, you can unload the rear tires. 

It causes the tires to spin. It's a whole science behind this, but you got to figure it out. I did run the car a third time later on in the day, same issue. But I really think at this point, it's my wheelie bars and the bad, bad prep on that track yesterday. It wasn't right. But anyway, that's besides the point. Anyway, look, people, that's kind of it for this morning. 

I just wanted to give you a heads up if you want to see those races. As I said, Andrew did post them to his channel, the Tesla Plaid Channel. Andrew's a good guy. You should check him out. It's fun stuff that he does over there. With that said, people, keep your eyes on risk. Again, watch the MMRI, the manorito market risk indicator. In my opinion, this thing can drop below 250 in short order because I sincerely believe that central banks are going to do a lot more here to keep faking the market. 

I mean, this whole thing is fake. We're trading a market that has no bearing on reality whatsoever. Nothing matters anymore. All the market is concerned about is if the Fed's going to cut rates, and I believe they're going to. I mean, the economic news just doesn't stop round after round after round of bad economic news. And leading indicators like business investment falling off of a cliff, wholesale inventories, there's not one, not even one forward looking or leading indicator for the economy that's pointing up. 

They're all pointing lower. So. Surprise. Oh, my. All right, people, look, this guy here loves you a lot from the heart. I mean that. With all I got. Please share the video, get it out there. Those thumbs up are greatly appreciated and I will see all of you for the live stream. 400 and 05:00 p. m. Eastern time. Have some questions ready for me. And we got this. 

We got this. All right, I'll see you later. Bye. .