Forget COVID. Here’s a new bamboozle!

[Bill Bonner’s Diary]( Forget COVID. Here’s a New Bamboozle! By Bill Bonner Monday, June 15, 2020 – Week 14 of the Quarantine I’ve been cheatin’ you A little too long. Can’t stop now – With apologies to Otis Redding [Bill Bonner] SAN MARTIN, ARGENTINA – Let’s start off the week with a long ramble. Many readers will surely drop out along the way. But the rest, if there are any left, will find themselves with us on the same page. But first, a quick update… and a warning. Recommended Link [It’s NOT Bragging If It’s True (New Briefing Reveals His Next Big Prediction)]( [image]( The man who called the #1 best stock of 2016 and 2018 is at it again. He says a federal agency that regulates more than $2.6 trillion annually… along with the brightest minds at Harvard and MIT… have just unlocked the single greatest tech breakthrough of his career. A small-cap stock is now set to soar up to 1,000%… in just one day. But that’s not all. Within 12 months, it could turn a tiny stake into an entire nest egg. And it could start as soon as 9:30 AM tomorrow. [Click here to see his new big prediction]( -- Time to Reorganize A V-shaped recovery? The economy taking off “like a rocket ship”? Don’t count on it. Here’s Bloomberg: About 30% of the increase in total U.S. unemployment from February to May can be explained by a reallocation shock, and so risks being long-lasting, according to Bloomberg Economics. Donald Trump called last week’s employment numbers “a stunner.” But it was probably just statistical gibberish. [Strange Activity Detected In Secretive Layer Of Stock Market.]( Businesses cannot simply push the pause button. They are always trying to improve efficiency, cut costs, and position themselves for new trends. When times are good, they have no reason to make changes. But when they are bad – whatever the cause – it’s time to reorganize, modernize, and economize. That is, it’s time to get rid of their weakest products and services… and the employees who go with them. Then, the people who have been let go need to find new jobs. That takes time… And it assumes that the economy is creating new jobs… about which there will be more in the days ahead. But today, we’d like to wonder about the way great empires fall apart. Recommended Link [Take a good look at this dollar bill…]( [image]( Because this could be the last time you see one… Due to radical changes to our financial system taking root. Top lawmakers just returned from a private meeting on Capitol Hill… And frankly, it’s shocking the mainstream media hasn’t picked up on this yet. But you can get all the details you need to prepare for this massive change – as well as profit from it … [By learning the full story here]( -- Trigger Warning Dear Readers – conservatives as well as liberals – are forewarned. They may find “trigger words” in what follows. That is, they will find ideas that may make them uneasy… and perhaps even angry. Many of our readers are annoyed, for example, when we seem to criticize Donald Trump. They say we should “stick to economics,” as if the two – politics and economics – were separate. But never before have they been so intertwined… [This top financial expert just returned from a private meeting with members of the Senate Financial Services Committee…]( In the last 90 days, Mr. Trump’s government has engendered two of the worst economic disasters in history. He and his employees led the shutdown of the American economy, beginning on March 13 with his state of emergency declaration. Then, realizing that they had made it impossible for people to earn their daily bread (food on the table, mortgage payments, taxes…), they proposed to replace it with the monetary equivalent of sawdust – fake bread, that is… trillions of it. For us not to mention Mr. Trump’s blunders would be like not pointing out to parents that their toddler was setting the house on fire. But people don’t like it when we challenge their gods, their heroes, or their myths. And many won’t like it this week when we point out that Mr. Trump is not the only numbskull in the nation. Recommended Link [Did Political Elites Just Hijack Your Retirement?]( [ad_img]( The coronavirus panic is truly unprecedented – no one could have seen it coming... right? Well… It turns out that [the government’s reaction to the Coronavirus Crash of 2020… was actually 87 years in the making](. Politicians are turning to a plan from the 1930s in the hopes of avoiding a new Great Depression. If they enact it… The retirement savings of millions of Americans will be destroyed. Coronavirus may be a serious health disaster… but it’s quickly becoming a financial disaster as well. There’s already $2.2 trillion in “stimulus.” And trillions more are on the way. But make no mistake… all that “free” money is going to be a disaster for any regular American with retirement savings. Which means the “cure” could now be worse than the illness. Former congressional insider Dan Denning predicted this move by our government to “nationalize” the currency – over three years ago. Most people just laughed… But Dan’s prediction is now coming true with shocking speed. Dan’s chilling conclusion: This could be the end of financial freedom in America. “If you are an investor… own life insurance or annuities… or have substantial savings in an FDIC-insured bank account… [then you need to be aware of serious risks.]( [Click here to see what you should do]( - Dangerous Conceit [As we mentioned on Friday]( we live by myths. “All men are created equal” is a myth. Anyone with eyes and ears knows it’s not literally true. And yet, it is a very useful myth; it provides a foundational principle of “fairness” by which people expect to be treated equally under the law. That they are “endowed by their Creator with certain inalienable rights” is also more myth than fact… but, again, it is not a bad myth. It, too, seems to set a limit on what the rich and powerful can get away with. Even if they’re wearing a police badge, for example, they’re not supposed to choke you to death. Governments are founded on myths. And generally, the bigger and more ambitious the government, the bigger the myth needed to hold it together. Empires, typically, are nurtured by huge myths. But myths – being myths, rather than provable facts – are subject to mischief. Also mentioned last week was Hitler’s myth. In place of “all men are created equal,” he came up with a “master race,” which was intended (apparently by God Himself) to rule over the less gifted races. Alas, when put to the test, this proved to be a dangerous conceit. It led Hitler to believe he could defeat the lower races in war and take their land. And we know what that got him. Social Sin And today, our myths collide like runaway trains. We are asked to believe several contradictory ones at once. Taken together, they undermine the “social contract” – the collection of myths that hold the empire together. Just to give you a preview, barely two months ago, the authorities – the great and the good, esteemed scientists, and world improvers – insisted that we protect ourselves and others by cowering in our houses… and never venturing outside except on essential business (as they defined it)… such as buying a lottery ticket… and only when sporting a face mask and rubber gloves. In our home state of Maryland, for example, Governor Larry Hogan laid down the law… “We are no longer asking or suggesting Marylanders stay home; we are directing them to do so,” said the Ubergovernor. Those who violated the order faced misdemeanor charges that carried a penalty of up to one year in jail and/or a $5,000 fine. This message was repeated all over the country. Every right-thinking/left- leaning person – encouraged by the media, his neighbors, and science! – was told that it was not merely unwise to go out… but a social sin. Even going to the beach… or a graveyard… risked a fine or public shaming. As New York Governor Andrew Cuomo put it, even if these extreme measures saved “only a single life,” it would be worth it. Those few people who dared to insist that they had a right to assembly – given to them under the First Amendment – were branded as right-wing sociopaths little better than the Hitler youth. And, according to the press, the coronavirus was not an equal opportunity killer. It targeted the elderly and Black people disproportionately. A New Myth But then, while the number of COVID-19 cases leveled off in some areas… and rose in others… all of a sudden… Forget COVID! This was the time to take to the streets en masse to “protect Black lives.” The scientists had hardly drawn breath after telling us that masses of people gathered together increased the number of deaths from the virus… and that the dead bodies would be disproportionately Black. But now, it didn’t matter. This was a cause worth (other people) dying for! What gives? More to come… Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to feedback@rogueeconomics.com. --------------------------------------------------------------- FEATURED READS [Trump Calls for Additional Stimulus]( On Saturday, President Trump made it clear that he expects another round of coronavirus stimulus. How much is he advocating for? According to White House advisor Peter Navarro, at least $2 trillion… [Gain Exposure to Cryptocurrency With This Expert’s Guidance]( World-renowned cryptocurrency authority Teeka Tiwari is on the hunt for more life-changing crypto opportunities. His recommendations have given everyday people the ability to fund their retirements, boost their savings, and secure their financial futures. Today, Teeka is releasing his next big pick. [Learn more here](. MAILBAG Many dear readers weigh in after Bill said to defund the police last week in “[No Return to Normal for the Main Street Economy]( I’ve heard all the BS about defunding I can stand. You want to defund the police? No problem – do it! Then we can go back to the days when people settled all their arguments at the end of the barrel of a gun. And you can watch TV in your living room with a shotgun draped across the arms of your recliner to defend against home invaders who no longer have to fear the police, as they kick in one of the doors to your house. It will be exciting! And the debt? I’m surprised you even asked. We already have history, both recent and past, to answer that question. When there’s too much debt to sustain, those 10 Percenters you keep referring to will simply pick up their chips and get up from the hog trough they’ve been feeding from. The whole thing crashes, the value of everything plummets, and they become even more rich as they begin buying assets for pennies on the dollar, only to resume the blasted two-system system all over again. – John D. In a nutshell, what we get came from those in charge, ultimately, our dear politicians. Red or blue, they are not for YOU. Cops are part of the cannon fodder Mr. Bonner referred to, doing an inglorious, difficult job at the behest, ultimately, of the “Haves.” They are left out to dry when it serves the “Haves’” cause. Police are only one part of the “oppressive” criminal justice system. The real issues lie more with the lawmakers and the law arbiters, lawyers, legislators, and judges. Police do not have immunity except for that granted, as it were, by judges and/or lawyers, yet both of those parts of the system operate almost free of impunity. Judges have almost blanket immunity. Judges and lawyers at the top rungs are most certainly “Haves.” The real faults of systemic bias are with this portion of the system, but that’s rarely addressed. – Robert M. It seems to me that there is a great deal of misunderstanding about what it is supposed to mean to “defund the police.” It doesn’t, or shouldn’t, mean abolishing the cops. What it means is that the duties and the responsibilities of the police should go back to what is intended. The police have been tasked with functions never intended for them. Police should not be responsible for solving domestic disputes (unless a felony crime has been committed). They should not be responsible for the mental health of the jurisdiction. Mental illness should not be a part of their responsibilities (again, unless a felony has been committed). The jails and prisons should not be used to house the mentally ill or deficient, but that is what has evolved. When the nation decided to defund state and local facilities and services to treat and/or accommodate the mentally ill, supposedly to protect their “human rights,” they just added burden to the already-overtaxed police. The purpose and function of the police should be limited to public safety, crime prevention, enforcement of criminal (NOT civil) laws and codes, and with solving crimes and assisting to bring criminals to justice. Today’s police are (unrealistically) expected to be social workers, mental health providers, and numerous other things. They are not trained for these things, and have been assigned an impossible task. Redefine their mission within proper expectations. If a cop misbehaves, as in the case of George Floyd, punish the offending cop, but even more importantly, get rid of the cops who stood by and made no effort to stop it. – James C. The NYC legislature last week passed legislation permitting access to a policeman’s record for anyone who wants to see allegations, accusations, reprimands, charges, etc. This is to help the media and accusers of brutality, etc. gauge the nature of the individual. It doesn’t matter if an allegation is valid or not. It can be proven false, but it will be in the record for public release. If a policeman should arrest a rapist, the fact that he holds multiple convicted rape assaults and other charges remains shielded from a jury, of course. Why would anyone of any race or sex put their lives on the line to go into law enforcement in NYC, knowing they will not be supported by policymakers and even presumed culpable of any charge by the media? – Daniel S. Meanwhile, another dear reader argues a failing education system is the problem for the country’s issues… I appreciate your candor in stating what should be obvious to the average person in the United States. Unfortunately, I assume due to the “dumbing down” of the American educational system (even more likely due to the hard twist to the left over the past number of decades in academia) the average American seems unable to grasp even simple issues of logic and consequences. – Eric S. What function should police officers serve in a community? What role does education play in the social and/or political development of a nation? Write us atfeedback@rogueeconomics.com. IN CASE YOU MISSED IT… [THE INVESTOR WHO GOES “ALL IN” AND WINS–IS AT IT AGAIN]( He went “all in” on Bitcoin in 2011, right before it climbed 302,000%. He went all in on gold in 2003, and made a bundle (and took his mother and her 6 bridge friends along for the ride, as well!)… And now, because of what he sees in the financial system, this individual has gone “all in” again. He wants to show you [exactly where to put your money]( down to the last dollar… along with a drastic step he’s taken with his own capital. There’s still time to take advantage of this move, but that window is rapidly closing. [Click here for the details]( [image]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. 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