Legendary financial and geopolitical cycle analyst Martin Armstrong says shutting down the economy is far worse that the effects of the Wuhan China virus. Armstrong says, “This is just scare mongering, and there is another agenda going on. The WHO is part of the UN, and the UN is for this climate change, and this is what their objective has been: Shut down the world economy, bankrupt everything you possibly can, and then rebuild from scratch. . . . The devastation in the economy is unbelievable. Our computer is very well known. Just about all the intelligence agencies look at it because it’s the only fully functioning artificial intelligence system in the world. It was saying unemployment was going to rise dramatically and retest the Great Depression highs. . . .That’s never happened like that. Even in the Great Depression, it took three years to get to 25%. We passed 13% in the first month. . . . From the very beginning, I said something is not right. Something is wrong. . . . This is really going to push the debt bubble over the cliff. . . . The number that has died is minimal. More than twice that die from the flu. There is no logical explanation to have done this. The study they used was not even peer reviewed.”
So, if Armstrong were face to face with President Trump, what would he tell him? Armstrong says, “What he needs to do is open up the economy instantaneously. I think he needs to appoint a special prosecutor to investigate who started this. All the information I have is pointing to a deliberate and intentional movement to harm the economy. These people are elitists. Bill Gates was in Germany saying everybody should remain in lockdown until he comes up with a vaccine. . . . I put out a forecast a few weeks ago and said after week four, we will start seeing protests, and after week six, it will turn to violence. We hit week four and we got protests already all around the country. . . . Facebook is acting like Stalin. Anybody comes out and says let’s get together and exercise our First Amendment rights, they are removing it.”
Will this backfire in November? Armstrong says, “I think so because . . . the computer shows the Democrat Party will end up splitting . . . . 9/11 the country came together, but not this time.”
Armstrong says the President has the power to reopen the entire country. Armstrong explains, “He doesn’t want to use it, but he actually has the power to open up the entire country. I wrote a piece on this, and it’s called the Commerce Clause (in the U.S. Constitution) which governs. They (the governors) have no legal authority to shut down the economy—period. They cannot do that. The Commerce Claus prohibits interference with interstate commerce—period.”
How about all the Fed money printing and money being spent by Congress in the trillions of dollars? Is that going to destroy the dollar? Armstrong says, “Part of the reason why the Fed can increase the money supply, and we don’t see it here, is because it is being absorbed everywhere else in the world. . . . Increasing the money supply, which is what the Fed is doing right now, is not going to save the day because the amount of money lost on a leverage basis is 20 to 30 times that. It’s like throwing a bucket of water into the wind, it’s going to come right back in their face. They can’t stimulate enough. It’s impossible to overcome this. . . . The only way to overcome this is to open up the economy. We have to get the productive capacity back up, which is what wealth is, and you are destroying that. 70% of employment is with small business.”
On gold, Armstrong says, “Gold has been rising mainly because of foreign demand. They understand the euro can go (away), and 70% of the actual paper dollars are held outside the country. There is such a shortage of dollars in Europe it’s unbelievable. If you are going to cancel the euro, what would you do? You can’t put your money in the bank.”
Armstrong also predicts, “Not many big EU banks will probably survive another 30 to 60 days,”
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with legendary financial and geopolitical cycle analyst Martin Armstrong.
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