This Week’s Update:
- Walgreens plans to close 1,200 stores.
- The True-Value brand (NOT the stores) has filed for bankruptcy.
- California is reinstating mask mandates in some counties.
- Just today, Iran is calling on other Arab countries to join them in the war against Israel.
Time is VERY short.
This is foretold in the Bible—now is the time to get your spiritual and financial life in order.
BlackRock's Latest Moves
- BlackRock is liquidating even more of their investments into cash. It seems they are well-positioned to go shopping for cheap stocks after the forthcoming market correction.
- They’re also promoting their new Bitcoin-based ETF (Exchange Traded Fund), but here’s the catch: individuals won’t be allowed to cash them out directly to personal bank accounts.
They claim these funds are “…deemed unsuitable for individual self-custody, with the company implementing supervision to prevent losses.”
In other words, someone wants to supervise your investments. Ready for that?
You can buy them, but you can’t use them.
However, with BlackRock behind it, Bitcoin could potentially go WAY up.
The FED's Role in the Upcoming Recession
The Federal Reserve is not only lowering rates but also reducing the money supply, setting the stage for a recession within the next 4 weeks to 6 months.
The money supply is closely tied to inflation:
- More money, more inflation.
- Less money, less inflation.
This means we’re headed toward a situation where inflation and deflation happen simultaneously:
- Inflation on goods you NEED.
- Deflation on goods you WANT.
Another key factor: the FED controls inflation. High inflation? That’s on them, too. And they are choosing to increase it at will.
Economists are rethinking the Fed's power over the money supply, as their interventions may be doing more harm than good. And keep in mind, this is happening right before the election…
The last employment numbers will be revised after the election.
- If there’s a new regime, they will be blamed for the recession.
- If the current regime stays, the other party will be blamed for a lack of compromise.
Either way, voters (and citizens) lose.
I’m pessimistic about the government fixing these issues. Real change won’t happen until we balance the budget and return to the gold standard—and that’s only possible through a constitutional amendment (which likely won’t happen).
Global Shifts and Challenges
The world’s largest asset class is Chinese-owned real estate, and they are on the brink of a crash. Despite a new wave of stimulus from the CCP, it might be too little, too late.
Their real estate holdings are almost double the U.S. national debt ($60T), and they are freshly valued down by 30% ($18T).
This drastic drop restricts loan percentages and payments so severely that recovery seems unlikely.
Meanwhile, BRICS nations (and potential new members) met last weekend. One of the key discussions was the use of their own digital currency—the BRICS Pay Card.
Participants received a card with a balance and could use it, potentially replacing VISA, MasterCard, and others.
For years, the world traded in U.S. dollars, but now more than half of global trade is conducted in Chinese Yuan (RMB). This new BRICS CBDC (central bank digital currency) could further erode the USD’s dominance.
The switch to BRICS currency could lead to further devaluation of the U.S. dollar and sky-high inflation, possibly destabilizing governments that don’t participate.
Gold Hits an All-Time High
Last Friday, gold hit an all-time high—not because gold itself is becoming more valuable, but because the USD is losing value, marking a historic reduction in wealth.
Meanwhile, Economic Ninja reports that banks are seeing an alarming increase in savings withdrawals, which could lead to a run on banks. He believes this is driven by the upcoming election.
Society seems to have lost the ability to respect differing opinions, and political tensions are rising. Internally, it appears that many are carrying a higher level of panic.
What You Can Do to Reduce Panic
BE PREPARED!
Last Friday, a bank in Oklahoma was seized by the FED, freezing all assets and transactions, including denying access to safe deposit boxes. Eventually, access will be granted to funds (under $250,000) and boxes, but this could take up to 2 weeks.
Here’s what we do to prepare (following principles similar to Dave Ramsey’s plan):
Ensure your salvation.
Yes, I went there. The Bible prophesies end times, and our global situation appears close to that point—starting with the Rapture.Consider converting your investments to be recession-resistant.
Even if your 401k has limited options, look at your list and see if there are precious metals or even bonds.
Try to avoid Index Funds during this downturn. Major investors like Warren Buffet and BlackRock are selling assets and sitting on cash, waiting to buy after the crash.Over the past five years, I’ve moved my investments into income-producing property and precious metals.
Silver still seems undervalued and could be a smart move.Save $2,000 in cash for short-term emergencies.
Stop spending on unnecessary luxuries:- No eating out.
- No home deliveries.
- No energy drinks or premium coffees.
(Pro tip: B-vitamin complexes offer the same energy boost, and you can make great coffee at home.)
Sell your junk and get what you can for it. And don’t hesitate to use the food bank if needed.
Get out of debt NOW—especially anything but your mortgage.
Sell any toys you’re still making payments on, even at a loss. Voluntary repo, short sale, whatever it takes. Your credit score may take a hit, but done right, you may never need a credit score again.Establish a 3-6 month emergency fund in a money market account (1-2% interest) to handle bigger hits like job loss. Layoffs are coming—it could be you.
If you have a mortgage, consider refinancing to a fixed rate now if you’re on an adjustable-rate mortgage. This could reduce your monthly expenses significantly.
This is a critical time for preparation, both financially and spiritually. Stay informed and take proactive steps to secure your future.
