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another record-breaking day today in the stock market Dow Jones up 243 points setting yet again a brand new all-time high as it waits in anticipation for that rate cut at the end of July have you noticed the higher the Dow Jones goes up the better the stock market does the worse the economy is doing the worse the economic news is somebody wrote me today and said Dow Jones 50,000 if the economy is this bad at 27,000 I would hate to see what this economy would look like with the Dow Jones of 50,000 it's Friday July 12 2019 let's get right into it today as the markets have closed as we are witnessing all time highs yet again what is really happening in the US economy it's certainly not what we're seeing happening on Wall Street I can assure you that really bad news as I woke up this morning this was on Zero Hedge regional truck carrier carrier LME suddenly and abruptly shuts doors and ceases operations the regional carrier based in Minnesota suddenly and abruptly shut down its operations they had 30 terminals across the US the company employed 600 men and women they had 382 power units 1228 trailers and 424 drivers this is the fifth major closure in 2019 after an EMF Falcon Williams trucking and a la so as the stock market is roaring this this pumped up injected illusion this these manipulated and rigged markets while most people think everything is okay because the stock market is breaking these all-time records these all-time highs what's really happening is your country and your economy is being decimated your middle class is being decimated 600 more people just lost their jobs today another trucking company bites the dust and as we've spoken about in the past trucking is the backbone of America and as we're being pumped by the mainstream media how great this economy is doing how come we are seeing stories like this now on a daily basis whether it's you know truck orders whether it's cargo whether it's trucking companies the trucking industry is literally on life support right now it is in not a recession I would say at this point it is starting to look like the trucking industry is in a depression and my heart goes out to these people that have lost their jobs people that are going to lose their jobs companies that are going to go out of business we have to stop blaming this on Amazon and the Internet Amazon uses trucks to ship products people are not buying like they used to the average American is getting tapped out we are going through a retail apocalypse people are cutting back people don't have the money they just don't have the discretionary cash to just buy stuff like they used to and it's starting to show and these are the good times ladies and gentlemen this is why I continue to tell every one of you you better wake up to what's coming and you better prepare accordingly here's another article time to leave the party former layman insider warns more risk than reward in markets we have hope I pronounce this right pillar gomez Bravo a portfolio manager at MF s investment management MF MF s has 4.5 billion of assets under management she sees eerie similarities to what was happening right before the 2008 crisis she said that she's selling junk bonds in a contrarian bet that the debt rally is on its last legs there is more risk than reward right now she says in fact it's over people are desperate and they're hunting down the after party we probably only have a few hours left I mean really take into account what she's telling you people are still trying to squeeze the last pennies out of this market and these people who hang out at the poker table a little too long a little too long at the party they're gonna get fleeced they're gonna get wiped out what she's saying is you better get out right now the party is over there's a few hours left not literally but a few hours could mean a few months a few weeks a year there's not a lot of time Hey better to be a few months early than a second late because if yours secondly you're gonna be wiped out so very very eerie words another very interesting article on Zero Hedge this morning there's no escape the Japanese Bank Japan Post Bank owns five hundred and seventy seven billion dollars worth of US corporate bonds this one Japanese Bank is directly funding countless us-based corporations resulting in hundreds of billions of dollars in stock buybacks and this Bank is indirectly hiring thousands of US workers long-term yields in Japan are around 0% so they come over and they invest in corporate bonds government bonds Japanese investors are all depending on the US market I mean just think about how scary that is that literally the entire country of Japan all of its investors its pensioners they are gambling on the United States of America they're dependent on the United States of America if we go down so does Japan so does the Japanese banks the Japanese investors the Japanese pensions it's all connected it's all intertwined and when we go down we are going to take multiple countries like Japan down with us and this is really really scary when you think about how if a toy ship Bank goes down it will take countries down it will take multiple banks down it will take multiple financial institutions down its gonna take pensions down it's going to take investors down it's going to be a nightmare but if something blows up halfway across the world it's going to affect literally the entire world here's another interesting article on Zero Hedge today scott matter of pinko he's the CIO of core strategies over there we probably have the riskiest credit market ever in terms of size duration quality and lack of liquidity he compares this to the mid 2000 to the mid 2000 five and six before the 2008 crisis he goes on to say that the Erie era of central banks taking volatility out of the market and pumping asset prices up is coming to an end also in the article Ray Dalio a billionaire this is a limited amount he says there is a limited amount of stimulant left in the bottle and the sooner we use it the sooner it will run out he says that cash over the long run is the worst performing asset that there is diversified diversify diversify but that brings me to another point to you know saving cash versus saving metal me personally I'm putting more cash into metals instead of having cash sitting and devaluing on a daily basis I believe it's much safer putting it in silver or gold putting it away forgetting about it and you know having it there as an insurance policy when this emergency hits here's another article I want to go over with you that was also on Zero Hedge this morning Japanese crypto exchange suffers thirty two million dollar hack Japanese crypto exchange bit point has suspended all services after losing thirty two million dollars in a hack involving yrp Bitcoin and other cryptocurrencies 534 million was hacked from nem from Japan's coin check exchange in January of 2018 40 million was hacked in May 2000 18 from by Nance these exchanges seem as though they are targets and you have to ask yourself and this is no attack on cryptos but how safe is it really with the amount of technology out there now with nations having this ability with cyberattacks and all this technology of hacking how safe is your money in crypto s-- and again I'm not putting cryptos down I'm not saying you shouldn't have them listen I'm with Ray Dalio diversified diversified diversity I don't put all your eggs in one basket I believe you should spread it all out and if you believe in crypto currencies by all means you know diversify and and and own cryptocurrencies but personally myself I'm not a big fan of cryptocurrencies if you don't hold it you do not own it I'm a big fan of metal I can put this anywhere I want nobody knows I have it I can go anywhere in the world and people are going to exchange their currency for a piece of this for an ounce of this 1/10 of an ounce whatever it may be I can take this anywhere in the world and it's real money and I can exchange this for any currency in the world and I can put it where I want to put it I can secure it how I want to secure it and in and if I want to I can pay a private vault to store this although I believe that you should hold it and you should have it in places where you can get to it and you should diversify where you're putting your gold and silver don't put it all in one place diversify the locations have it in multiple locations that you can get to in case of emergency but going back to Kryptos with all this technology how safe are the cryptos when we see another story like this and that's really another negative to dose is this cybersecurity and going back to what is it backed by what is going to back these crypto s-- and there's so many of them and to me I'm just a firm believer that if you do not hold it you do not own it be your own central bank and hold your wealth if if we had some kind of cyber attack if the grid went down if the bank's started closing we have bank runs we have bail-ins we have bailouts what have you I can't be dependent on the system I can't even get gas at the gas station when the power goes down or they have a problem with their computers the whole system is down so I need something that I can barter with junk silver tenth of an ounce silver Mercury dimes are great for that silver is great for bartering gold is great for just putting away and really storing serious wealth I believe if you have the ability to own them both but right now I would say that you know we're seeing huge huge value in silver right now what we're it's where we're at right now is probably what about 15 dollars and 20 cents for an ounce of silver somebody wrote in today and said well people living paycheck to paycheck you know how are they gonna Ford announced a sewer how they gonna how are they gonna afford to buy any silver they're living paycheck to paycheck well you know cut your Starbucks out cut out you know that that McDonald's cut out you know going out to eat you know maybe bring a sack lunch bring a ham sandwich to work and have it for lunch instead of spending $15 for lunch I know so many people that go out to lunch every day it's 15 20 dollars where you could just make your own lunch and bring it and start putting some money away and actually buying a piece of this buying an ounce or two of silver people make too many excuses you know stop running your credit cards up stop driving you know cars that you can't afford stop living beyond your means there are reasons why you might be living paycheck to paycheck too many people are making excuses and blaming other people for their problems yes the economy is bad there are there are just bad things going on opportunity I mean the opportunity isn't there like it was the dollar doesn't buy that much I get it people aren't getting 40-hour work weeks they you know health care insurance I get it but as I've always said we all have to make some sort of sacrifice if you're gonna protect yourself you know don't write me and say well if you're working paycheck to paycheck how am I gonna do this figure it out you need to figure out you know what you probably have a bunch of garbage laying around your house have a garage sale and sell something and go buy yourself five ounces of this I mean people have got to start thinking a little bit for themselves start thinking for yourself cut the lunch out cut the Starbucks out cut the going out to dinner have you know have a garage set work an extra hour or two at work go work a second job do what you got to do to start protecting yourself sitting and blaming other people or writing me and asking me a stupid question isn't going to fix the situation only you can fix the situation get off your butt and go work harder go do something and go buy yourself an asset so I'm gonna wrap the video up right here before I go I want to close with this we are gonna see more companies like this trucking company LME that just closed its doors 600 people now without a job this is why it's so important for everybody out there to have some cash put away an emergency fund three to six months that in case you got laid off lost your job the company workforce shuts down you've got three to six months to survive and and the reason I say that so important is because we're gonna see more of this this is just the beginning this recession has just begun we're gonna see much larger companies than ellamy shutting its doors we're gonna see much larger layoffs we're gonna see some serious economic destruction taking place in America it's also why you better be holding real assets this is no joke you know listen I don't care if you buy silver or gold I don't sell it I buy it and I'm gonna continue to buy this stuff because I truly with all my heart and soul believe that these are the two most undervalued assets in the world and these are they going to be the only things worth anything financially and I've been hearing a lot more and reading a lot more that there are more foreclosures coming up there are more pre foreclosures coming up these banks are preparing for more foreclosures and that doesn't seem very hard to believe when you see that seven million people are severely delinquent on their auto payments so just imagine how many people are sitting in houses right now that you drive by every day who haven't made a mortgage payment in 30 60 or 90 days these banks are gearing up they know it's coming and I've heard it from more and more people I've read more about it and I'm hearing I'm just hearing more about these pre foreclosures and when I look at the amount of retail commercial real estate out here that's vacant it's only a matter of time before we start seeing more and more people losing their houses look we are at the top of this asset bubble right now this thing may go a little bit more and a little bit more but eventually it's gonna pop and we're going to see the auto sector retail real estate commercial real estate you name it we are going to see major asset bubbles burst and we are going to see major destruction and it has to happen we need to we need to know and see what the actual value of these assets really are they never really got to fail in 2008 because the Fed came in immediately and started injecting trillions of dollars into the market to save it so we don't really know how far down the stock market was gonna go was the Dow Jones gonna go to 2,000 points or 3,000 or 4,000 points or or zero we don't know what was the value of housing we don't know because they came in with all this helicopter money and prevented it from all falling to the bottom where it should have fallen so we would actually know the true value of these assets so to to to this day 11 years later we have no idea what the true value of these assets are to these stocks to the bonds to real estate to any of it because it was never allowed to fail I believe this time they're not going to have any choice but to allow it to fail because they're not going to be able to save it and this is why you better be prepared to save yourself you better have an emergency fund you better have assets you better have all your preps and you better have security because this thing is going to fail there's going to be no other option because there's not enough money in the world to pay off this debt and when they lose control of this thing all bets are off and everybody is going to be on their own and these financial institutions these banks are going to look out for themselves they're going to steal everything they can get their hands on so don't keep money in the bank don't keep assets in the bank and don't keep your faith in the bank be your own central bank look out for yourself prepare for yourself I'm gonna leave it right there today god bless america god bless every one of you thanks for watching have a wonderful week and take this time as an opportunity to take advantage and prepare for what's coming
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