Mar 22nd, 2020
Welcome to the craziest week in economic history! Comrade Rudski (aka Luke Rudkowski), Red Lips (John Sneisen), and Gulag Pachtete (Tim Picciott) discuss the unprecedented financial news from the week and how it has driven governments around the world to enact communism.
The most significant moves to catch their attention lately include:
* Stimulus, printing free money for everyone, worldwide.
* Mints closing down
* High demand for silver
* Bitcoin and crypto price bounce and recovery
Tim goes as far as to wish for the tyranny of 3 weeks ago because based on what we’re seeing now, that actually looks good. Tim then reminds us of the unprecedented financial news that the Dow is down 4000 points in one week, which is the largest decline EVER. He then points out that a majority of people with "balanced portfolios" typically hold 60% stocks and 40% bonds, which makes for a loss of 15.3% in 18 days. (He's a CFP for anyone whose interested in taking control of their wealth btw).
John jokingly states that those diversified portfolios may as well be diversified in raw sewage.
Governments around the world are enacting measures to take full control. In Canada, they're enacting the war measures act for full control. In the US, the DOJ is asking for the power to indefinitely detain people and suspend amendment rights. Israel tracing everyone and picking people up for violating quarantine.
As governments around the world usher in the age of socialism, the guys wonder: Has Trump gone full commie? What do you think? Let us know in the comments below.
Don't forget to tune in to Tim's other channel - The Liberty Advisor - to watch Tim and John discuss the parallels between this and the great depression, Germans printing money, the fed buying immunity bond market, pension funds nationalization, unemployment on the rise, senators selling stocks, stimulus around the world, and more.