Seeking John Galt

Former Co-Founder, Chairman & CEO of Extreme Reach. Adhere to the constitution; enact term limits; adopt a gold standard.

[Seeking John Galt @johncroland]

It sucks when we can't compete and have to sanction instead. This never ends well.

https://t.co/Al9khXDrdA

[Seeking John Galt @johncroland]

https://t.co/SNe1vHYFfM

This is unbelievable. JD Vance says he doesn’t think the U.S. Dollar should be the world’s reserve currency.

We’re rapidly losing that status anyway as the BRICS nations are already trading in their own currencies and settling imbalances in gold.

JD Vance: “You can’t fire me, I quit”

[Phil Magness @PhilWMagness]

JD Vance wants to end the US dollar's position as a global reserve currency, because he thinks it allows Americans to consume too much and do so too cheaply.

Keep that in mind the next time you order a $20 burrito on door dash.

[Seeking John Galt @johncroland]

@Chicago1Ray @ChuckGrassley Abolish the Blue Slip

[Seeking John Galt @johncroland]

@GuntherEagleman @DC_Draino @LeaderJohnThune Nuke the filibuster

[Seeking John Galt @johncroland]

@LukeGromen @peruvian_bull Exactly

[Seeking John Galt @johncroland]

After 10 years, gold breaking out versus the NASDAQ 100 (basically the Mag7).

[Seeking John Galt @johncroland]

Warren Buffett has never liked gold because he says “it doesn’t pay interest or a dividend.” His company is currently holding $325 billion in cash on its balance sheet (invested in U.S. Treasuries) - most ever. He thinks a crash is coming so wants cash to not only protect his portfolio, but buy things cheaply in the aftermath. But look at his current investor report. Sure sounds like he’s changing his mind on gold. Imagine if you have $325 billion of cash, earning 5% on U.S. Treasuries, but the real inflation rate is 10%. That means you’re BURNING 5% of your money every year. That’s 16.25 billion burned every year. Yikes!

H/T @hk_nik

[Seeking John Galt @johncroland]

Meta Ends Fact-Checking Program in U.S. https://t.co/LAbUi9AYBn

And he added Dana White to his board. Zuckerberg knows that the end of main stream media is near. Along with those social networks that were captured by the government. These moves are for survival.

[Seeking John Galt @johncroland]

https://t.co/gJIxp0dooz
This is how you know one of two things: 1) Either we’re in a bubble, worse than the https://t.co/ycj12gUpCt bubble, and markets are soon to melt down or; 2) our fiat currency is getting toasted (forget the rise in DXY) and about to hyper inflate and melt up.

[Lawrence McDonald @Convertbond]

Over the last 36 hours, Fartcoin is up 60%. Now worth $1.5 billion.

[Seeking John Galt @johncroland]

The End Game -> everything will be continually bailed out until there's no fiat currencies anymore.

Remember in 2008 when the U.S. government bailed out the big banks AFTER they crashed due to the housing crisis? It was a shocker for many. It wasn't capitalism and the bankers held no accountability.

Then in 2023 the Federal Reserve came up with the Bank Term Funding Program (BTFP) which was used to bail out banks BEFORE they crashed due to rising interest rates (falling bond prices) and the commercial real estate crash.

Well, now we have a new level of monetary debasement. Via Nomi Prins @nomiprins and Bloomberg Markets @markets. In the United Kingdom, they're going to bailout the banks BEFORE they crash, but now with another layer of fraud. The Bank of England is not going to tell us WHO they are bailing out.
https://t.co/sWX0Qy9QHL

Yikes -> Gold

@LukeGromen, @ttmygh

[Nomi Prins @nomiprins]

The Bank of England, a public institution, will no longer disclose its bailouts to the public.

Seems like an added perk to that financial get out of jail free card that central banks are so accustomed to handing out.

[Seeking John Galt @johncroland]

@Geiger_Capital -> Holy. Shit. UK Prime Minister Keir Starmer just admitted that Western leaders have been running an “open borders experiment”… "This happened by design, not accident. Immigration policies were reformed deliberately. It has been a failure. They pretended it wasn’t happening.”
https://t.co/MSdx7TzOid

@Keir_Starmer, you know all to well it wasn't an experiment, but a devious plan to destabilize countries.

[Geiger Capital @Geiger_Capital]

Holy. Shit.

UK Prime Minister Keir Starmer just admitted that Western leaders have been running an “open borders experiment”…

"This happened by design, not accident. Immigration policies were reformed deliberately. It has been a failure. They pretended it wasn’t happening.”

[Seeking John Galt @johncroland]

@GaricMoran Garic, I’ve followed you for years. You’re a pro with a ton of experience. Please keep posting as we ride gold and the miners ever more. (I couldn’t imagine betting against the major central banks hedging against failing digital currencies).

[Seeking John Galt @johncroland]

U.S. DEBT SPIRAL - INFLATE OR DIE

2024 Federal Budget
$4.92T - Revenue
$6.75T - Expenses
$1.83T - Deficit

4 Largest Expenses
$1.30T Medicare/Medicaid
$1.15T Social Security
$1.10T Interest on Debt
$0.60T Defense
$4.15T

2024 GDP
$23.2T, Growth Rate 3.3%
Fed Spending 29% of GDP

Current Debt Level
$35.8T

Inflation
Official inflation rate = 2.4%
Real inflation rate = 4.8%

Conclusions
Inflation-adjusted GDP is -1.5%, we are already in recession and have been for years
The 4 largest expenses are the only ones large enough, to reduce, to make a difference

Therefore…
Cut entitlements? Politicians are voted out of office
Cut interest rates? Inflation explodes
Cut defense while waging 2 wars? Not gonna happen
So the budget can’t be balanced, but theoretically, what if it was?
It would remove $1.83T from the $23.2T GDP or -7.9% = Massive recession.

So what’s the only option for politicians whose countries are in a debt spiral? The same option they’ve always picked over the millennia. Kick the can. Keep increasing spending, cap interest rates and inflate-away the debt. Middle class gets crushed. But if the average U.S. home costs $50 million, then $35.8T of debt ain’t so bad…

Gold

[Seeking John Galt @johncroland]

If Kamala wins, tell me the election is stolen without telling me the election is stolen.

https://t.co/QCRDHvr887

[Dan Scavino Jr.🇺🇸🦅 @DanScavino]

WOW—A VIEW FROM ABOVE IN BUTLER, PENNSYLVANIA!

[Seeking John Galt @johncroland]

"They Are Changing The Rules": BOJ Shocks By Hiking Into Weakening Economy To Contain Crashing Yen
https://t.co/oyXjFlwwp3

Just like Weimar Germany in the 1930's. They have to raise rates to protect the currency and attempt to contain inflation. This in turn crashes the economy, so in time, they have to cut rates to thwart a recession/depression. Then wash, rinse and repeat. The BoJ is trapped in a debt spiral. @LukeGromen

[Seeking John Galt @johncroland]

There are two Wall Street camps on interpreting the economic data over the past 6-12 months. The first camp is those that say the data is awful, we should be in recession and the markets should be 25%-50% lower from here. I can sympathize with them. The second camp is those that say the data is solid and there’s more room to rise in the markets. Basically, that camp is selling their book of assets under management, collecting fees and wants to keep the music playing.

However, there is a third camp of which I am a part. The U.S. economic data is largely fraudulent. Whether it’s the fake employment numbers, fake CPI or fake GDP only growing due to government spending, know that it’s extremely likely that the government is cooking the books. When countries hit fiscal dominance like the U.S., where under "supposedly" a strong GDP and employment numbers, our deficit is still -7%, our debt is nearly $35 trillion and our annual interest expense is $1.0+ trillion, you have to cook the books to keep the charade going. And you have to buy the markets to keep them levitated before the election.

@BradHuston Put it best the other day: “I’m sorry. There are trillions of dollars that can't be accounted for through U.S. government audits and you think I'm the conspiracy theorist for suggesting the government is levitating the markets by buying stocks off-book?”

[Seeking John Galt @johncroland]

Severe Solar Storm Threatens Power Grids and Navigation Systems
https://t.co/dHBbIOqty5

What are the chances the Global Elite bring down the electrical grid...and blame it on a severe solar storm?

[Seeking John Galt @johncroland]

Via @chigrl "Mag 7 Now Accounts for Almost 30% of the S&P 500, More Than the Industrial, Consumer Staples, Energy, Materials, Utilities and Real Estate Sectors Combined" Yep, by buying just these 7 companies, the U.S. government can largely control the entire S&P 500.

[Seeking John Galt @johncroland]

Via Zerohedge, "This is not normal." The chart would look a lot different if it didn't use the government manipulated CPI which is presently at 3.3%. The real inflation rate is closer to 10%. Use that number and the correlation still holds. With Fed Funds at 5.35%, if inflation is 10%, then real rates are -4.65%. Gold would be exploding...like it is.

[Seeking John Galt @johncroland]

@redactednews Term limits