Quarters of any publicly traded company and it lost 5 billion. The ceo says 2019 will be the worst year the losses, he says, will come down in 2021 look at that stock, down 8. 5 below 40 a share. Interest rates, the yield on the 10year treasury is 1. 69 , this is the worlds bench mash Interest Rate, and is this week s volatility, thats disruptive Financial Markets worldwide 169 right now. Here is the good news, rapidly falling Mortgage Rates you can get a 30year fixed Rate Home Loan for 3. 6 . Youre going to see a lot of refinancing action, and in a moment, youre going to see whats happening to Mortgage Rates in denmark. Okay, okay, okay, i know youre not likely to be buying a home there but when you see the rates , you might want to get into that market. Then theres joe biden, gas machine. Two of them. First, he said, poor kids are just as bright as white kids. Then he said, we choose truth over facts. [laughter] today is at the iowa state fair, every democrat will be hoping he doesnt
10 year yield and as you see since basically the European Union finally began quantitative easing in earnest theyve gone into negative territory but i tell you whats remarkable is that you know we made a film like 10 years ago about the collapse of iceland we went to iceland about 6 months 9 months before it collapsed and predicted that it would collapse because it was a serious ponzi scheme where the banks were lending. To speculate and the result of that speculation in the Housing Market would be used as collateral at the bank to create more lending so it became a huge ponzi scheme force a collapsed now people talk about these negative Interest Rates they think its the result of some policy by someone in doing some economic bennett benefit but they dont understand is that is the biggest bubble in history the sovereign bond bubble is by far the biggest ponzi scheme bubble its ever been created in the history of the world and when you talk about these sovereign bonds trading in negativ
A settlement in gold and then that was stopped in 71. 00 then you had c. I. Currencies or franc the other feet of currencies and thats how you end up with a global ponzi scheme and you had as nomi prins writes in her excellent book collusion about how the Central Banks then were no longer competing with each other in a mercantile a system but became their coconspirators in a global monitor a system where each bank was simply passing the hot potato around the world and there was never any moment when Interest Rates are not being cut over the past 40 years 45 years thats never happened in one country may have raised a bit but another country would have dropped by considerably more the net result is now the goal of the globe is their debt to g. D. P. For planet earth is approaching 350 percent well some say that the u. S. Dollars back backed by oil so it always has been backed by something hard. Liquid oil the other thing that were seeing however is as Michael Hudson dr Michael Hudson an
Thinkable of course this is the german eels and this is the u. S. 10 year yield and as you see since basically the European Union finally began quantitative easing in earnest they got into negative territory but i tell you whats remarkable is that you know we made a film like 10 years ago about the collapse of iceland we went to iceland about 6 months 9 months before it collapsed and predicted that it would collapse because it was a serious ponzi scheme where the banks were lending. To speculate and the result of that speculation in the Housing Market would be used as collateral at the bank to create more lending so it became a huge ponzi scheme force a collapse now people talk about these negative Interest Rates they think its the result of some policy by someone in doing some economic benolt benefit but they dont understand is that is the biggest bubble in history the sovereign bond bubble is by far the biggest ponzi scheme bubble its ever been created in the history of the world and
That means the price of the bond is a 3000 year highs thats stented this bubble is and how does it get there its because the banks are lending against the ponzi value of the bonds to leverage more buying of those ponzi extended bonds and of course like iceland if this will result in a 98 percent collapse. Never in the history of the world in 1971 did the human race ever engage in all fiats currency commerce trading settlements system i weve always had gold backed currency or other some other hard assets thats why nations went bankrupt all the time thats why many wars happened is because france would go bankrupt they would have no gold left or Something Like that so now we have just an infinite regress of ever referring to another contract or another fiats currency printed by something backed by we dont know what except for perhaps the mightiest army that is there are stocked and threaten the earth and thats what we have now so thats why they could go. They think they believe they could