Another moon pie is on its way

[Bill Bonner’s Diary]( Another Moon Pie Is On Its Way By Bill Bonner Friday, August 7, 2020 – Week 21 of the Quarantine There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner, as the result of a voluntary abandonment of further credit expansion, or later, as a final and total catastrophe of the currency system involved. – Economist Ludwig von Mises [Bill Bonner] SAN MARTIN, ARGENTINA – Whee! What fun! Like visiting an insane asylum every day, just for laughs. But first, let’s look at the grim news: The big CARES Act giveaways are winding down. The Paycheck Protection Program, for example, expires tomorrow… But last week, 1.2 million people filed for UI (unemployment insurance compensation)… the 20th week in a row with more than 1 million new claims. Already, the UI checks are coming in a little light, since the $600 per week supplement is drying up, too. And landlords are now free to evict their tenants. Recommended Link [EXTREMELY URGENT AND TIME-SENSITIVE (The gains could come at any moment)]( [image]( Please watch this video that Wall Street insider Jason Bodner recorded from his home office… It’s URGENT. It’s about an extremely lucrative yet highly time-sensitive opportunity that could disappear any time. [Details here]( -- Double Whammy Things aren’t looking so good out in the corn belt either, where Team Trump seems to have something against farmers. There, they’ve been hit by a double whammy. First, it was the trade war, which whacked grain sales… Then, the economy was shut down – wiping out sales to restaurants and cafeterias. And here’s The Wall Street Journal with the result: More U.S. farmers are filing for bankruptcy, as federal payments projected to reach record levels this year fall short of compensating for the coronavirus pandemic and a yearslong slump in the agricultural economy. About 580 farmers filed for chapter 12 bankruptcy protection in the 12-month period ended June 30, according to federal data. That was 8% more than a year earlier… But don’t give up – you farmers, longshoremen, brain surgeons (and especially you, cronies and insiders) – more help is on the way. Though temporarily stalled in a partisan battle between Republicans and Democrats, each side trying to score political points in the run up to the election, we have 100% confidence that more fake money is practically on its way. [The FINAL Wave of 5G Millionaires Starts Any Day Now.]( Simple Math This week, we did some simple math. We saw that the feds are “transferring” huge amounts of money – $12 trillion! – this year. That’s [more than is earned by all of America’s workers put together](. It’s going out the door at an average rate of $1 trillion per month (our estimate). Divide that by 330 million people. It is the equivalent of giving every man, woman, child… and everyone in between… a check for $36,000… or $144,000 per family of four. This is more than twice the average annual family income of $63,000. Go figure. We’ve scratched our heads so much already; if we keep it up, we’ll need to see a dermatologist. Recommended Link [Financial Research Firm That Predicted Trump Win Issues Shocking New Prediction]( [image]( The financial research firm that predicted the election of Donald J. Trump recently confirmed a surprising new partnership with Breitbart News. And in this [never-before-seen roundtable discussion]( they reveal information that we have never seen repeated anywhere in the mainstream press. It may have huge financial ramifications for you and your family. [Please click here to see the full story]( -- Volcanic Eruption We wondered where the hell all of this money was coming from. Paul was getting paid, big time. But Peter didn’t even know he was being robbed. Obviously, the money is fake – nobody ever earned it, saved it, invested it, lent it… or even imagined that it existed. So, of course, no one noticed when it went missing. We also saw that this volcanic eruption of fake money was more than a fluke. This Vesuvius has been smoking and shaking for a long time, with the amount of money “transferred” – as opposed to earned – rising for the past half-century. And we inferred that the transfers aren’t going to come to an end any time soon. As Ludwig von Mises tells us above, there are only two ways these booms can end: Either voluntarily (stop the money-printing)… or involuntarily (just keep printing until the whole thing blows sky high). Which way will it go? [This Revolutionary Tech IS the #1 Investment of the Century.]( Filling the Gap In 1979, Paul Volcker was able to voluntarily stop the credit expansion. In 2020, nobody can. Because in the intervening 40 years, total U.S. government debt rose from only $900 billion to $26.6 trillion. Likewise, business debt today is 17 times greater today than it was back then. The Fed’s balance sheet – a rough measure of the credit expansion – rose 43 times, from $163 million to $7 trillion. Paul Volcker hiked the Federal Reserve’s key lending rate to 20%. Try to do that now… and the whole kit and caboodle would melt into a puddle, like a plastic bottle in a fire. The longer the fake money flows, the more people depend on it – households, businesses, and the government, too. This year, the federal government will collect only about $3.5 trillion in taxes. But it will spend the aforementioned $12 trillion. The gap is filled with fake money. Recommended Link [Blistering Exposé Takes Aim at America’s Leaders]( [image]( Massive changes are underway in America. Most people — including our leaders — have failed to notice. Or perhaps, they just don’t care… But as you’ll see in this blistering exposé… A radical new force is setting off the biggest wealth and power shift in modern history. Barron’s estimates it’s already created between 20,000 and 200,000 new millionaires so far. And one former hedge fund manager believes this is just the beginning. Over the next few years, he predicts this trend could create as many as 818,000 more new millionaires… And you could be one of them. [Click Here to Find Out The Three Steps You Need to Take Now]( -- Sugar Hit Without fake credit, created and subsidized by the Fed, thousands of businesses would go broke. Without UI, millions of households would have to cut back their spending – causing a recession. Without billions in contracts and subsidies, the whole military/industrial/social welfare/diversity/education/medical complex would have to retrench – leading to a collapse of Wall Street, pulling down the whole edifice of parasite enterprises that the fake money supports. And what president will be re-elected by denying the voters the sugar that has become such a big part of their diet? Look for another big dose… coming soon. Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=“Another Moon Pie Is On Its Way). --------------------------------------------------------------- MAILBAG A dear reader is concerned about [Bill’s indigenous idol worship]( Bill, I enjoy your column immensely. But I do have to comment on the post regarding Pachamama. I have followed the controversy around this idol, but you gave flesh to the subject. You really do need to be careful with what you described today because that truly is an act of idol worship. One as learned as you are knows that there are consequences to idol worship. – Steve D. Meanwhile, others discuss the role of government entities in U.S. finances… Is it accurate to say that the Federal Reserve has been adding stocks and corporate bonds to its balance sheet via their agents (Blackrock et al.) or directly? It is assumed that the Fed will “retire” some of the holdings. But, regarding equities, that might not be a safe assessment. They might desire control/ownership of targeted industries. And since the Federal Reserve is a privately held corporation, any benefit would be for their members alone and hidden from view. And the beauty of it is that the price they must pay for ownership is not a consideration – as much currency as needed can be generated at no cost! Pretty sweet for the elites. Substantial control of the “means of production” results in them living (very well!) off the efforts of the rest of the serfs trapped on the plantation. A ruthless lawyer once said to me, “The best result is when you sting ’um, and they don’t know they’ve been stung.” – Mike B. The Federal Reserve, the U.S. Mint, Congress, nor any other entity can create wealth simply by issuing dollars that haven’t been earned. Although the Fed and the U.S. government could agree that “debt” owed to the Fed is cancelled, that wouldn’t retrieve the trillions of dollars put into circulation through the unearned transfer payments to individuals and others as part of a stimulus program. The reality is that unbacked dollars are a store of value only if there is unwavering discipline in limiting money and credit to the value of production. – Hebron C. Would “cancelling” the federal debt really help the U.S.’s economic standing? Write us at feedback@rogueeconomics.com. IN CASE YOU MISSED IT… [The Name Of Jeff’s #1 Private Biotech For 2020 Is…]( During The 1-Day Profits Summit, Jeff Brown revealed the name of his #1 private biotech company. Within a matter of weeks, this biotech could IPO and make investors a small fortune. [Click here to learn the name for free (no purchase necessary)]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. [image]( [How You Can Start Profiting From Maganomics Today]( [image]( [How to Make A Fortune From Legal Cannabis]( [image]( [Trading Basics: Two Building Blocks Every Trader MUST Know]( [Rogue Economincs]( Rogue Economics 55 NE 5th Avenue, Delray Beach, FL 33483 [www.rogueeconomics.com]( [Share]( [FACEBOOK]( [Tweet]( [TWITTER]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. 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