Financial Survival Network, Released on 5/12/20 (Recorded on 5/11/20)

Topics:

• China’s Silk Road and Belt initiative goes bust, dollar looking pretty good by comparison. Will the Chinese exercise gunboat diplomacy?
• Battle between ECB and German CB, who can’t agree on how much QE is enough. German Supreme Court has ruled that ECB has gone too far with its version of QE. Europe is only halfway through its integration process and is falling rapidly behind on its goal.
• Second quarter US GDP will be down a whopping 34.9% in the US. CA Deficit $100B for the current fiscal year. Grossly underfunded pension funds. Big bailouts will be demanded by states and the Feds will resist until they can’t any longer.
• Swiss National Bank is now officially a hedge fund. It lost money on the decline but made back most of their losses on the recovery. Others are watching and wanting to emulate.
• Germany tries to reopen and appears to be failing. Georgia reopens and appears to succeed.

John Rubino is the founder and manager of the popular financial website DollarCollapse.com. Mr. Rubino is the co-author, with GoldMoney’s James Turk, of The Money Bubble and The Collapse of the Dollar and How to Profit from It. He spent the 1980’s on Wall Street as a Eurodollar trader, equity analyst and junk bond analyst. During the 1990’s he was a featured columnist with TheStreet.com and a frequent contributor to Individual Investor, Online Investor, and Consumers Digest, among many other publications. He currently writes for CFA Magazine.

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