All aboard the Bankruptcy Express

[Bill Bonner's Diary]( All Aboard the Bankruptcy Express By Bill Bonner, Chairman, Bonner & Partners [Bill Bonner] GUALFIN, ARGENTINA – Over the weekend, we went to visit [our new property](. The house, which we are renovating, is on the far side of the river. We’re just realizing what a challenge that poses. In order to get over to see it, we have to borrow horses from our neighbor, saddle up, and ride across the river. Or we can walk over the rickety pedestrian bridge… and then hike the mile or so to the house. [image]One of the few walking bridges across the river at Gualfin Not very convenient if we have things to carry. And what if we invite someone for dinner? “Yes… we’ll expect you for 7 p.m. Just get here an hour earlier so you can get across the river somehow and then dry your clothes.” But that is a problem for the future. Besides, the river is usually easy to drive across. Only during a few months – December, January, February… and sometimes March – is it impassable. Recommended Link [image]( [Take a look at this document]( It was just leaked to the press. It hasn’t been verified, but it comes from a very reputable source. According to crypto expert Teeka Tiwari, this document is ironclad proof that we’re on the cusp of a “Second Boom” in the cryptocurrency market… A boom that he believes could make you even more money than last year’s crypto run-up. For the next few days only, [you can get all the details here](. - A “Curador” On Saturday’s visit, we were on our horses when a bent figure came up to greet us from one of the mud houses near the river. Young people in the area won’t say a word. With their cell phones, WhatsApp, mullets, and tattoos, they might as well be in Baltimore. But the old people still retain the courtesies and respect of an earlier time. The old man approached. He took off his hat, looked up, and extended a hand. He was nearly blind. “Hola, patron…” “Hola, viejo.” [old guy] He introduced himself. A cousin of some of the people who work up at the ranch, he is in his 80s, with a bright face and a pleasant smile. “He’s not blind,” explained one of the cousins at the ranch later. “He can see better than you and me. He’s a curador.” “What’s a curador?” “It’s somebody with the gift of healing. You put a candle in front of the Virgin Mary. And you stand between it and a piece of white paper. “The curador looks at the paper and he can see what is wrong with you. He can see everything. Even all your sins.” Recommended Link [“These FANG stocks already hit the top, but there’s a new industry just starting to make its way up”]( [image]( Early investors in the four tech industries above likely became millionaires as innovative breakthroughs disrupted their fields… Today, there’s only one breakthrough capable of upending the market… It’s what I call the “God Key” and it’s expected to grow by 35,000% in the coming years. [Click here to get the details]( -- Bankruptcy Express Meanwhile… [Yesterday]( we described how the U.S. government has changed over the last three decades. Now, neither party is worried about deficits… or the U.S. federal debt, which hit a new milestone last week, at $21 trillion. Instead, they are all onboard the Bankruptcy Express… Democrats, Republicans, Congress, bureaucrats, and cronies… with Mr. Donald J. Trump as Casey Jones himself… running wide open and stopping only to pile on more debt. It’s already loaded with $230 trillion of debt from all over the world. And with the additions of 2017, U.S. government debt alone will tote to $40 trillion by 2028. On board are most of the world’s central bankers, too. Bank of Japan governor Haruhiko Kuroda is in the passenger car. So is Europe’s Mario “Whatever It Takes” Draghi. Also there, of course, is America’s new Fed chief, Jerome Powell. They all seem to be having a good time, ordering glasses of brandy at public expense. Only the Germans decided to give this ride a pass. They still remember their last disastrous train wreck, when hyperinflation in the ‘20s destroyed the integrity of German society and its institutions. What happened next was the worst period in German history since the invasion of the Huns. Tens of millions were killed, the economy was destroyed, and the Germans’ civilized reputation was stained forever. Recommended Link [Sneaky Politicians Don’t Want You to Know How They’re Snatching Up To $11,334 Every Month for Life…]( [image]( But this former Wall Street hedge fund manager is going to tell you everything. Including how you can start collecting these payments too. [Click here for all the details]( -- Imposter Currency Everybody knows you can’t keep borrowing forever. But everyone also believes that the conductors, engineers, and stokers in charge of this train will “do something” to prevent any serious accidents. After all, they’re our elected officials… with their expert PhD appointees. They’re the brightest and the best… Well, aren’t they? We tried to show [yesterday]( that every government is eventually taken over by its insiders. Then, it becomes a government of the cronies, by the cronies, and for the cronies. Of course, people don’t like to think so, because it sets in motion a whole backfield of vaguely seditious ideas. But we will pass over those issues in silence. Today, we want to focus on the money. Not only is the government not working for the average citizen, neither is its money. The dollar is a fake currency, manipulated by the same insiders, more or less, who control the government. In two moves – one in 1968 and the other in 1971 – the feds changed America’s money. It still looks the same. But instead of being backed, at a fixed rate, by gold… this new dollar is a “Federal Reserve Note.” Real money, as people realized more than 2,000 years ago, must be limited. But this money is not. When Alan Greenspan became Fed chairman in 1987, the bank owned all of $200 billion worth of bonds, which it had acquired over the preceding 74 years. By the time Fed bond holdings reached their peak under Ben Bernanke, the bank had $4.5 trillion worth. Where did it get the money to buy those bonds? Easy, peasy… it just created it out of thin air. And that new money… along with trillions more being created by other banks… is what has made the elite so rich: They got the new money. The Fed pumped the new money into Wall Street, not Main Street. People with Wall Street connections made money. Others did not. [As we saw on Monday]( the working stiff’s main asset – his time – declined in value… while Wall Street’s assets – stocks and bonds – rose 10 times in real terms. It’s hardly surprising that the elite are enjoying the ride. And so far, why not? It’s been all downhill. From 18% in 1980, the fed funds rate has gone down to 1.42% today. Carrying debt is no trouble when you can refinance it at lower rates. But what happens when the downhill run turns into a gentle rise… and then a steep incline? We will see. Stay tuned. Regards, [signature] Bill Editor’s Note: As Bill wrote, today’s government is “of the cronies, by the cronies, and for the cronies.” And it’s about to get much worse. As early as May 1, a secret group right here in America could seize control of the country’s money. The mainstream media won’t pick up on this story. But your wealth, retirement, and rights as an American could be in jeopardy. [Here’s why…]( ECONOMIC INSIGHT: CONSUMER DEBT HITS NEW HIGHS By Joe Withrow, Head of Research, Bonner & Partners [Joe Withrow] U.S. consumer debt has exploded higher over the past 10 years. That’s the story of today’s chart which tracks student loans, auto loans, and credit card debt from 2007 to today. [Chart] As you can see from the chart, each has hit a post-crisis high. Student loans outstanding have hit $1.5 trillion… up from $589 billion 10 years ago. Auto loan debt just passed $1.1 trillion… up from $781 billion a decade ago. And credit card debt is approaching $800 billion… up from $311 billion 10 years ago. – Joe Withrow FEATURED READS [Trump Strikes a Blow to Venezuela’s Cryptocurrency]( Bill [reported recently]( Venezuela is rolling out its very own cryptocurrency. President Trump also took notice of Venezuela’s crypto, and may have struck it a deathblow… [Silicon Valley Is Imploding]( year, Dan Denning [warned]( that the Silicon Valley elite would soon face serious public backlash. And after a massive data breach scandal, one of the valley’s most prestigious companies may never be the same. [Proof That the Markets Have Gone Crazy]( stock market is filled with strange, distorted prices. That’s not opinion. Chris Mayer, one of Bill’s top analysts, can prove it… MAILBAG In the mailbag, Bill’s [cure for inequality]( continues to draw response… Laughing out loud! Bill, that was your best article I have read yet! I am laughing hysterically! – Timothy G. You said: “Readers frequently accuse us of being idle wreckers, tearing down without building up, criticizing wantonly while offering no constructive advice. They say we are unpatriotic, uncivic-minded, unhelpful, and un-American.” Here is a solution to gun violence in the schools. When I was in Oregon, I had a terrible mole/gopher problem. I finally solved it by going to the pet store and purchasing mole/gopher food. Then that night, I went into my neighbor’s yard and distributed the food in various places in his backyard. MY problem was solved. Now, using that methodology, I suggest that we simply make Washington, D.C. a gun-free zone. – Tony D. You said, “Another wishes to make the world safe for democracy; millions die in the trenches.” I’m very confused by this statement. While I understand and agree with a lot you have written, this seems to say that we should not have joined in WWI, the millions died anyway, and our involvement shortened the dying, it seems. What can you be saying against our involvement? – Ken H. By the end of this latest Diary entry, I was laughing out loud. Your solutions to inequality are priceless. I am sending them to some of my children. I look forward to reading your essays, especially when you are traveling. What an interesting life you lead, and what a wonderful perspective and sense of humor you have! I am close to your age, and judging by how you write and your understated descriptions of people, events, and life in general, really, you are part of a select group of people that remind me of my father. I realize you understand the stock market, money, and the manipulation that goes on, but I cannot make myself learn it, so most of it makes my eyes glaze over; and even though I have to drive 30 miles to get to the nearest Starbucks, which I sometimes do, I am managing to cope. Thank you again. – Donnajean G. I was expecting to see some deep thought on the subject. I was surprised that you really didn’t offer anything but discouragement. Here is my solution. You may or may not like it, but one thing is certain: There is a middle road that is not completely bleak or out of Pollyanna. Without hope, it’s over. We must be able to look forward to something other than getting rich fast and taking care of only your own little world, even though those things are not bad. My take on fixing the world, since we can’t count on good intentions like Plato did: 1) Change two corporate laws. Corporations are not people; they cannot lie, and they cannot pretend to die to avoid legal responsibility by changing names to continue with the same thuggery. Corporations are not only obligated to their shareholders, they are obligated by law to their surrounding lands and the people that live there. That way, they can’t deflect the costs of their damages onto the people and the government. Corporations cannot be involved in elections or expect their workers to do the same. 2) Focus on funding for school buildings to add rooms so that smaller classroom size can happen to improve education. With ADHD on the rise, the current 30 kids per teacher makes it impossible to maintain a teaching/learning situation. 3) One person, one vote. No secret funding. – Claudia R. Meanwhile, a few readers reflect on Bill’s mission at the Diary… I don’t want to liken Bill, his observations, and the era that we are in to the life and times of Jesus Christ and John the Baptist, but there is a parallel here that goes beyond the secular. People still worry about their grip on today, blindly trusting that their government protects, saves, and has their best interests at heart while fearing and condemning those that tell a different story. Bill questions, investigates, and shares what he learns, and people, again, want to shoot the messenger. Gain a little perspective: Your earthly possessions are just that. Will they bring you joy when you’re not here anymore to count them? Find some joy in the wisdom and anecdotes that Bill shares, whether it’s financial or life-affirming. If you don’t believe in God, I suggest you look for Him, and soon. – Maureen B. Some of your dear readers are criticizing you with the claim that you aren’t doing anything to right the wrongs you point out. What are they doing? I maintain that your job is changing hearts and minds, and that is indeed doing something very important. Nothing is going to change without your first step. You have already pointed out that politicians get elected because they give the people what they want. Keep trying to convince the voters that what they want is disastrous. – Terry H. IN CASE YOU MISSED IT… Did you miss Teeka Tiwari’s cryptocurrency emergency briefing last week? If so, don’t worry. Tonight, Teeka is hosting a live Q&A. He’ll answer your questions about the future of the crypto market. But in order to attend, you’ll have to reserve your spot [right here](. [image]( [Bonner and Partners]( © Bonner & Partners 55 NE 5th Avenue, Suite 100, Delray Beach, FL 33483 [www.bonnerandpartners.com]( This e-mail was sent to {EMAIL} because you subscribed to this service. 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