Best of the Week
Most Popular
1. TESLA! Cathy Wood ARK Funds Bubble BURSTS! - 12th May 21
2.Stock Market Entering Early Summer Correction Trend Forecast - 10th May 21
3.GOLD GDX, HUI Stocks - Will Paradise Turn into a Dystopia? - 11th May 21
4.Crypto Bubble Bursts! Nicehash Suspends Coinbase Withdrawals, Bitcoin, Ethereum Bear Market Begins - 16th May 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.Cathy Wood Ark Invest Funds Bubble BURSTS! ARKK, ARKG, Tesla Entering Severe Bear Market - 13th May 21
7.Stock Market - Should You Be In Cash Right Now? - 17th May 21
8.Gold to Benefit from Mounting US Debt Pile - 14th May 21
9.Coronavius Covid-19 in Italy in August 2019! - 13th May 21
10.How to Invest in HIGH RISK Tech Stocks for 2021 and Beyond - Part 2 of 2 - 18th May 21
Last 7 days
AI Stocks Strength vs Weakness - Why Selling Google or Facebook is a Big Mistake! - 14th Jun 21
The Bitcoin Crime Wave Hits - 14th Jun 21
Gold Time for Consolidation and Lower Volatility - 14th Jun 21
More Banks & Investors Are NOT Believing Fed Propaganda - 14th Jun 21
Market Inflation Bets – Squaring or Not - 14th Jun 21
Is Gold Really an Inflation Hedge? - 14th Jun 21
The FED Holds the Market. How Long Will It Last? - 14th Jun 21
Coinbase vs Binance for Bitcoin, Ethereum Crypto Trading & Investing During Bear Market 2021 - 11th Jun 21
Gold Price $4000 – Insurance, A Hedge, An Investment - 11th Jun 21
What Drives Gold Prices? (Don't Say "the Fed!") - 11th Jun 21
Why You Need to Buy and Hold Gold Now - 11th Jun 21
Big Pharma Is Back! Biotech Skyrockets On Biogen’s New Alzheimer Drug Approval - 11th Jun 21
Top 5 AI Tech Stocks Trend Analysis, Buying Levels, Ratings and Valuations - 10th Jun 21
Gold’s Inflation Utility - 10th Jun 21
The Fuel Of The Future That’s 9 Times More Efficient Than Lithium - 10th Jun 21
Challenges facing the law industry in 2021 - 10th Jun 21
SELL USDT Tether Before Ponzi Scheme Implodes Triggering 90% Bitcoin CRASH in Cryptos Lehman Bros - 9th Jun 21
Stock Market Sentiment Speaks: Prepare For Volatility - 9th Jun 21
Gold Mining Stocks: Which Door Will Investors Choose? - 9th Jun 21
Fed ‘Taper’ Talk Is Back: Will a Tantrum Follow? - 9th Jun 21
Scientists Discover New Renewable Fuel 3 Times More Powerful Than Gasoline - 9th Jun 21
How do I Choose an Online Trading Broker? - 9th Jun 21
Fed’s Tools are Broken - 8th Jun 21
Stock Market Approaching an Intermediate peak! - 8th Jun 21
Could This Household Chemical Become The Superfuel Of The Future? - 8th Jun 21
The Return of Inflation. Can Gold Withstand the Dark Side? - 7th Jun 21
Why "Trouble is Brewing" for the U.S. Housing Market - 7th Jun 21
Stock Market Volatility Crash Course (VIX vs VVIX) – Learn How to Profit From Volatility - 7th Jun 21
Computer Vision Is Like Investing in the Internet in the ‘90s - 7th Jun 21
MAPLINS - Sheffield Down Memory Lane, Before the Shop Closed its Doors for the Last Time - 7th Jun 21
Wire Brush vs Block Paving Driveway Weeds - How Much Work, Nest Way to Kill Weeds? - 7th Jun 21
When Markets Get Scared and Reverse - 7th Jun 21
Is A New Superfuel About To Take Over Energy Markets? - 7th Jun 21
Why Tether USDT, Stable Scam Coins Could COLLAPSE the Crypto Markets - Black Swan 2021 - 6th Jun 21
Stock Market: 4 Tips for Investing in Gold - 6th Jun 21
Apple (AAPL) Summer Correction Stock Trend Analysis - 5th Jun 21
Stock Market Sentiment Speaks: I 'Believe' We Rally Into A June Swoon - 5th Jun 21
Stock Market Russell 2000 After Reaching A Trend Channel High Flags Out - 5th Jun 21
Money Is Cheap, Own Gold - 5th Jun 21
Bitcoin and Ravencoin Cryptos CRASH Bear Market Buying Levels Price Targets - 4th Jun 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

CORONAVIRUS - Here Be Dragons, 'Hic Sunt Dracones'

Stock-Markets / Financial Markets 2020 Mar 19, 2020 - 02:18 PM GMT

By: The_Gold_Report


Bob Moriarty of 321gold explains why he believes the world is in uncharted waters.

We have sailed off the map of the known world into totally uncharted waters. No one, including me, knows exactly where we are or where we are headed.

But hic sunt dracones is an excellent warning, here be dragons. If I was still flying and needed to give a brief to my passengers, I'd be saying, "I have some good news and some bad news. First the bad news. We have flown off the edge of my maps and we are totally lost without a clue as to where we are."

"On the other hand, we are making great groundspeed."

The coronavirus continues to spread out of control. The best guess that I have been able to find about how many people would die came from the guy who led the fight against the SARS virus. This professor believes as many as 60% of the people in the world could catch the virus. According to him 45 million people in the world could die. Best guesses say that somewhere between 40 and 100 million people died of the Spanish Flu a hundred years ago. But it was a world with a third the population of today.57 million or so people die. After all, everyone is going to die of something. So adding on an additional 45 million is hardly the end of the world. Unless of course you happen to be one of those 45 million or related to them.

The real killer is going to be the knock-on effects of the virus and not many people are discussing them. That's because we are off the map and in uncharted waters where frankly governments fear to swim.

Health care is going to be rationed. At some point if you are in the higher risk categories you will be sent home to die. We don't have the hospital beds or ventilators for all those who might need them. In Italy in one area, if you were over 60 you were out of luck. And I don't know anyone in the US yet talking about it but we have the most expensive medical care in the world. Who is going to pay the hundreds of billions of dollars for emergency care? Hospitals will be packed with virus patients and for anyone else suffering from anything else, going to the hospital will be a death sentence.

According to the gurus, 59% of Americans can't find $1000 to cope with an emergency. When vast segments of business are simply shut down for weeks or months, how are people going to pay their bills, much less cope with an emergency? Look for property crime to explode higher.

Locks keep out honest people, not crooks. And with the police now stealing more from Americans than the burglars do, whom are you going to go to? In San Francisco the police don't even want to report property crime unless it's over $1000. That's called a license to steal. What happens when the virus hits the street people in LA and San Francisco and Portland? Who is going to pay?

Well before the virus became big news, it was obvious to a lot of serious financial writers, including me, that the financial system was about to blow sky high. I started predicting the crash over a year ago. The Fed postponed it by flooding the financial system with cash starting in late September but the flood has become a tidal wave lately. Behind the curtain something very serious is happening but they don't toss $5.5 trillion into the coffee and donut fund for nothing.

I believe the banking system is about to break on a permanent basis. Most of the people I read seem to think pumping money by central banks can solve the financial problems but let me remind my readers that the central banks pumping unlimited money into the system is what caused the problem. When you have too much debt, you cannot solve your debt problem with even more debt.

In 2007 the financial problem went back to subprime lending. Today out of control borrowing and spending by corporations will drown the banking world with defaults. We will have to have a jubilee and figure out how to go back to honest money. You cannot have an honest financial system or honest government without honest money.

The virus is not the cause of our financial problems or crime issues or stupidity in government. Face it folks, people go to work for the government because they are too lazy to work and too nervous to steal. The founding fathers would be astonished at the circus of clowns we have running government today.

All debt gets paid. It gets paid either by the borrower or by the lender but all debt gets paid. We have the biggest crisis in US and perhaps world history. We can only hope real leadership stands up, speaks out and takes charge.

The alternative is too dreadful to consider.

Bob Moriarty President: 321gold Archives 321gold

Bob and Barb Moriarty brought to the Internet almost 16 years ago. They later added to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.

Disclosure: 1) Bob Moriarty: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. I determined which companies would be included in this article based on my research and understanding of the sector. 2) The following companies mentioned are billboard sponsors of Streetwise Reports: Wheaton Precious Metals. Click here for important disclosures about sponsor fees. 3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. 4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports (including members of their household) own securities of Newmont Goldcorp, Franco-Nevada and Royal Gold, companies mentioned in this article.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in