On Wire

Breaking news, updates, and reports on current events.

Fund Manager: The Collapse Of Comex Paper Gold Derivatives House Of Cards Has Begun

by

by Dave Kranzler of Investment Research Dynamics The Comex Does Not Trade Gold Unequivocally, gold does not trade on the Comex. The Comex trades paper gold derivatives. It is a futures and options exchange on which a small amount of 100 oz. gold bars change ownership each contract month. The transfer of title is facilitated by the creation … Read more

The stimulus can’t come quickly enough for millions of Americans. Many state pensions were already on life support and now they face a $1 trillion shortfall due to the markets.

by

Many state pensions were already on life support and now they face a $1 trillion shortfall due to the markets.https://t.co/kRUhUzFQBT — John Tuld (@BradHuston) April 5, 2020 For years, the country’s public pension plans have faced a yawning gap between what they owe and what they can pay. From the State of California’s public employees’ … Read more

TurboTax offers free tool to help Americans who don’t file taxes get stimulus payments

by

Millions of Americans are slated to get $1,200 payments from the federal government to help them cope with the sudden economic downturn. Eligibility for those payments is largely based on prior tax returns, which leaves out individuals who typically do not file because they have little to no taxable income. Now TurboTax has coordinated with … Read more

Business Owner Perspective

by

by llenders97 We have approximately 60 employees This is what we are doing/did: Implemented across the board salary cuts Negotiated extension with vendors in terms for AP Immediately applied for all government assistance as well as additional lines of credit Monitoring AR, especially watching for influx in late/no payments as well as AR ratio Immediately … Read more

Markets experience a junk tsunami

by

Markets experience a junk tsunami: The pace of rating downgrades has materially accelerated over the past few weeks. Amount outstanding of newly minted fallen angel bonds has jumped to $149bn in Q1 2020, a higher amount than the previous peak reached in Q2 2009, Goldman says. pic.twitter.com/0BPS9s91zA — Holger Zschaepitz (@Schuldensuehner) April 4, 2020 https://twitter.com/psgrimm64/status/1246073669853593600 … Read more

America Ready For Martial Law! Looting Begins, Panic Buying Of Ammo 2020 Economic Collapse

by

https://www.youtube.com/watch?v=E9B3aINwqHM America is going through unprecedented economic and social changes that will lead to martial law and economic collapse. The entire economy is declining and the labor market is on a free fall and millions of Americans are losing their jobs every passing day. The rising number of unemployed people across various states is creating … Read more

NYPD to take private property (medical equipment, masks, gloves) if the private party doesn’t give to them for free. what If they don’t want

by

What would you do if your mayor and Government came on your private property armed with police demanding you hand over your preps? https://www.newsday.com/news/health/coronavirus/coronavirus-developments-long-island-1.43642728 New York City Mayor Bill de Blasio, in an appearance on MSNBC Saturday morning, reiterated his call for more involvement from the federal government to help get medical personnel and equipment to … Read more

Adam Schiff loses it over Inspector Gen firing

by

Trump informed the Senate intelligence committee on Friday of his decision to fire Michael Atkinson, according to a letter obtained by The Associated Press. Trump said in the letter that it is “vital” that he has confidence in the appointees serving as inspectors general, and “that is no longer the case with regard to this … Read more

Major Technical Failures Confirms Bear Market Risk (Full Report)

by

by Lance Roberts In last week’s discussion, we stated the “bear market” was not yet complete. This was despite the “market rally,” which convinced the media the “bull market was back.” While it was indeed a sharp “reflex rally,” and expected, “bear markets” are not resolved in a single month. Most importantly, as we discussed in our employment report on Thursday, “bear markets” do not end with “consumer confidence” still very elevated.  … Read more

Washington DC Mayor threatening to throw those in JAIL who break “stay at home orders” at same time Congress is taking off on Vacation!

by

“Residents of Washington, D.C., could be jailed for up to 90 days if they violate the city’s strict stay-at-home order announced Monday” …. “The D.C. order, which goes into effect April 1, is much stricter, warning of much higher fines and even jail time for those found in violation.” “We have to enforce orders, or … Read more