Hello and welcome to the International Daily Roundup by People's Dispatch, where we bring you some of the major news developments from across the world, our headlines. WHO reports records single-day increase in COVID-19 cases. Iran's latest cargo shipments reach Venezuela with food supplies. Bolivia's coup president forced to declare general election. Protests intensify in Tunisia after violence from security forces in Tatooine. And South African trade unions admonish government for airline restructuring plan. We begin with an update on the novel coronavirus pandemic that continues to rage across the world. The number of total reported cases has reached close to 9 million worldwide. Over 475, 1,000 deaths have been reported as of today afternoon and nearly 3.7 million cases are still active. Between Thursday and Sunday, a record number of single-day increases were reported by the WHO. Over 181,000 cases were reported on Thursday, 143,000 and 139,000 confirmed cases on Friday and Saturday. And on Sunday in its update, the WHO said that the number of cases went up to 183,000. Brazil led the peak in numbers, contributing to close to 55,000 cases on a day-to-day basis, followed by the U.S. with over 32,000 and India with over 15,000. In our infocus section, News Clicks Prabhu Purkhaisa analyzes the spread of the pandemic. So there continues to be a spike in cases, although in many countries this may no longer be the main subject of discussion. We have seen that the United States, as Trump's doing in India, it has moved in some other direction. But nonetheless, the fact is that COVID-19 is very much in the center of our day-to-day life and yesterday's case numbers prove that. So especially when you take the top three countries, that's Brazil, India and the United States, how do we see the way these countries are handling this crisis? Well, you know, of course, the cases will shift from country to country, continent to continent as you go along. So I think the first was China. The second in that sense was the European Union, what I would call the core European Union countries, which are also very well connected amongst each other. If one goes up, so do the others. And then of course, the United Kingdom also being closely connected. So that set of countries. And of course, then you have the United States, very close again to European Union, in terms of connections, people flying back and forth. And then now you have the Latin America, so what I would call the Americas, they have taken over and as is India. So you have shifting locations of the epidemic. And that's the nature of the pandemic because it's not the virus which is transmitted automatically. It's really people transmitting the virus. So it's a contact between people, the density of the population, how people who are infected are separated from others or not. All of that really determines the nature of the epidemic. And it's very clear that countries like Brazil and countries like the United States really stumbled badly. In the US because it failed in its initial phase to test even the CDC tests failed. So they're trying to blame China for not telling them one week before or something like that. The point remains that they had almost one and a half months in which to scale up at least the possibility of testing. And WHO is applying test kits to all other countries. So it's very surprising that the US stumbled on that. But also the fact that Trump and Bolsonaro both had a common attitude to the virus. Then Trump got convinced that he needs to take more responsibility and started saying, yes, of course, we are controlling it. We have the best, we have the best tests, we have the best systems and everything. And then when it finds that he's really not able to do it, now his position is it's a state's problem. It's not our problem. And now we should really reopen the economy. His skepticism regarding the pandemic, the COVID-19 epidemic seems to have come back in some form or the other. And then saying the economy matters more than the pandemic. And this is what we do. And at the end of it, it's really also about his elections. So what matters to him for the elections? The reality is that you have these two right-wing, what shall I call them, chauvinists, shall we say national chauvinists, national supremacists in some sense internally, also extremely right-wing. And in the case of Trump, close to white supremacists, and so is Bolsonaro. And then, of course, we have the case of India, which had a very draconian lockdown. So not that the lockdown wasn't there. The lockdown was definitely there. And it was a lockdown which was in terms of the scale of the lockdown was quite severe. So what is it that makes India come to the same scale as the others? And we have discussed it in India. In fact, the failure has been to treat it as a lower normal problem and use sticks when you need public health measures. So looking at it is also the vision of the Modi government. Another right-wing government, another one who wanted to blame the minorities for even the COVID-19 initially, trying to stigmatize a group of people on that count. And also the fact that it has sort of now decided having lost grip on the epidemic, having now shifted the blame entirely to the state, only what Trump is doing. So you see a commonality of all of this. But the underlying issue is that it is a public health disaster that is in the making, particularly in the countries which are unable to control it. And I would now have to put India also in that camp because it appeared that India was stuttering on the brink for quite some time. We have discussed it a number of times. It's a touch and go. It's not very good situation. The numbers are going up. There's really no control over it as it is being claimed. And now it's very clear that yesterday I think we had 15,000 numbers. We are going up very steadily. And as you can see, of course, we are behind the United States, Brazil and Russia. But in terms of new infections, we are number three. And the number of deaths also, deaths per day, the last 24 hours of deaths. Again, we are number three.  But the number of infections are slowly coming down. It's not going to come down very quickly. That's very clear. Unless you do something like the Chinese are successful in doing, most countries have come down slowly. And Russia is on that track. So is Iran on that track, the blips aside. So what you are likely to see is Brazil, certainly not in any control. Latin America, varying degrees of India, shall we say. That means losing control of the epidemic and daily figures are continuing to rise. India, we have seen daily figures started with 8,000, 7,000, 8,000, 10,000, 12,000. Now we have reached 15,000 per day.  Because these are the people then who becomes very sick, some of them.  So it's a cascading effect that we are seeing. And the fact that we are not in control of it is very worrying for all the three reasons I've talked about. The United States, the Americas, and now South Asia. Pakistan is not too far behind. In terms of per capita, the number of cases, it's very closely following on India's heels. So I think this is the South Asian problem that we are also going to get. But these numbers are also rising. And I think one thing is now very clear that this is not related to the climate. That means the hot season is not going to make a significant difference because India, it is summer at the moment. We are seeing temperatures above 40 degrees in North India consistently. So it's very clear that the climate may reduce or increase transmission by some amount. The primary transmission vectors are human beings and it is that contact that really decides the nature of the epidemic. And unless we have a vaccine, I don't think we are going to be at the moment going to be able to control it. Not with the policies we have and not the way a lot of the countries are going. The fact that we haven't learned from Chinese experience, we haven't learned from the European Union, particularly Germany did, which managed to keep its death count very low. Similarly, Russia, high infections, but death count low because they really had good hospital facilities for taking care of those who really become sick. So all of those lessons, if we don't take, and it doesn't look like we're taking those lessons either in Brazil, India, rest of the Americas, and of course the United States of America itself, where the death count is high. So we are seeing all of this shows that what WHO is saying, what everybody is saying, that we are going to see this continuing of the pandemic, at least for the next six months, if we don't, you know, drastically alter the way we look at the pandemic itself, look at it as a public health issue and control it as any public health response should be. In our next story, an Iranian ship carrying cargo of food and other supplies arrived in Venezuela in waters on Sunday, June 21st. The cargo ship Gholsan reached the Lagoa airport and is the first of five shipments carrying supplies to open an Iranian supermarket outlet in Venezuela. The arrival of the new shipment comes barely a month after a successful dispatch of five super tankers carrying over 1.5 million barrels of petrol by Iran to Venezuela. Details of the shipment are yet to be given out by either Iran or Venezuela but Iranian embassy in Caracas confirmed the approach of the Gholsan on Saturday, June 20th. There has been speculation within the United States that the shipments could also include equipment to upgrade oil refining capabilities in Venezuela. Both Iran and Venezuela are reeling under unilateral economic sanctions from the United States, severely affecting their economic stability and access to essential goods. The petrol shipment made in May helped Venezuela stave off a major shortage in fuel in its domestic market that has been caused by U.S. sanctions. We now go to Bolivia where de facto President Jeanine Arnais enacted a law scheduling the much awaited general elections for September 6th. The law was passed on the night of June 21st when she telecasted her announcement. Arnais held hours of consultation with Salvador Romero, President of Bolivia's electoral body, the TSE, over the feasibility of the election before passing the law. The decision was celebrated by citizens, social movements and trade unions who have been mobilizing against her mishandling of the pandemic. Former President Ivor Morales also welcomed the announcement and stated that it was up to the government to guarantee a free election. The elections were initially scheduled for May 3rd but got postponed due to the coronavirus outbreak. On April 30th, the President of Bolivia's legislature Ivacopa promulgated an electoral law to hold elections between May 3rd and August 2nd which Arnais rejected. However, on June 2nd, the TSE negotiated with all political parties to further postpone the date to September 6th due to the public health risks. Last week, both the Plurian National Legislative Assembly approved the bill to this effect but Arnais tried to pass this off as multiple opinion polls have shown MAS Party candidates Luis Arce and David Chacobonca in the lead. Jeanine Arnais came to power in a coup in November 2019 that deposed President Morales and the MAS government. Her government has been widely criticized for using the pandemic as a pretext to consolidate her power. In our next story, protests took place in the initial city of Tatooine on Sunday after the arrest of Tarek Haddad. Haddad is one of the organizers of the weeks-long roadblocks and protests in the region and the city. Security forces violently dispersed the protesters on Sunday using tear gas and arrested 10 people. For weeks, people in Tatooine have been demanding jobs in better living conditions. Protesters have blocked the main road to prevent the movement of oil from the Elkamore public pumping station. They are demanding that the government act on its 2017 agreement with the Tunisian Trade Union Confederation of the UGTT after months of similar protests. The government had then agreed to employ 1500 people and invest more than 28 million US dollars in the region to boost employment opportunities. Activists have claimed that the agreement was never implemented by the government. Protesting the non-fulfillment of the demand and violence of the security forces, trade unions including the UGTT are holding a general strike today. Tunisia is facing its biggest economic crisis in decades, compounded by neoliberal policies of successor governments and the recent coronavirus pandemic. The national economy is expected to shrink by as much as 7% this year due to the disease. According to official sources, Tunisia's unemployment rate is also expected to grow up from 21% from 15% last year. The unemployment rate in the region of Tatooine, which is also the largest province in the country, has already touched 30%. And finally, South African trade unions have accused the Department of Public Enterprise of Double Dealing for supporting the Business Rescue Plan for South African Airways. In a recent statement, the National Union of Metal Workers of South Africa and the South African Cabin Crew Association called out the plan, chocked by a group of technocrats, as a liquidation plan instead of a rescue plan. The plan proposes laying of 3,700 of the roughly 4,700 workers in the airlines. Talking to People's Dispatch, Noomsa Spokesperson, Pagami Lahulbi Majola, said that the plan in Norway addresses the true cost drivers that caused the crisis in the airlines. These cost drivers, according to the unions, include years of corruption and mismanagement that led to costly and wasteful contracts, including outsourcing of labour at much higher rates to private players. The unions have also reiterated the long-standing demand for a fair retrenchment package for workers over the age of 50 and a similar separation package for young workers who will opt to leave voluntarily. That's all we have in this episode of the International Daily Roundup. We'll be back tomorrow with the latest news developments from across the world. Until then, keep watching People's Dispatch. Thank you very much for watching!


From the State of Wyoming's perspective, the Vigilant Guard exercise is an awesome opportunity to really test our capabilities, really integrate our partnerships with National Guard, the state folks, some of our federal partners, and really just see if we can handle a very bad day for Wyoming. We've never done a Vigilant Guard in the State of Wyoming, so this is the first time, the first ever Vigilant Guard for the State of Wyoming. The purpose is to provide an opportunity for locals, states, and federal assets to come together and work together to build responsiveness, partnerships, and preparedness throughout the State of Wyoming to any natural or man-made disaster that might occur. My role here today is to serve as a liaison from the Wyoming Military Department to the State Resource Coordination Center, coordinating military response assets throughout the exercise. We've been called out to support Exercise Vigilant Guard as part of the State's Quick Reaction Force. We're here to support local officials, and so we're always there to protect lives and eliminate suffering as part of our role to the governor and to the state of Wyoming. But we also want to protect resources as directed and keep everybody safe so they can go home today. We've been very fortunate here. We've done a little bit of this type of training with both the Air Guard National Guard and the Army Guard. We've been able to share some resources together, and this training and being able to do this on a scenario basis and try to replicate something that could happen with our role players screaming and yelling, things being thrown. It's an invaluable resource. Without that partnership, without that communication, learning how to talk to each other, those are the things that need to be worked out here because our people, our citizenry expect us to be able to not be sorting those things out on the line during an emergency no matter what it is. Over this last year, we've had a handful of emergencies, some localized flooding and a pretty severe winter storm outbreak that hit Wyoming. A lot of the lessons that we're learning, a lot of the relationships we're building through Vigilant Guard will make the next set of those things go better. And so we're really looking forward to taking the lessons from Vigilant Guard and applying them to all of our disasters in the future.


In Accord is one of Boston University's many co-ed acapella groups. They began in 1990 and were the first co-ed group to come to campus. However, there is more to an acapella group than just hitting the right notes. Choosing the right songs for the group is one of the biggest challenges. We try to choose songs that are going to be like big next semester which can be hard sometimes. So we try and choose songs that are present day and like popular now and we also try to do some throwbacks because everyone likes to get throwback. We do a lot of different genres. I think we mostly do pop, but we do like jazzy songs, we do rock songs, we do like hip-hop, R&B, so a lot of different things. So in the songs we're singing this semester we're going to be doing Grand Theft Autumn Where's Your Boy by Fall Out Boy. We're doing a mash-up of many Macklemore songs called The Mashlemore. We're doing Army of Two by Ali Mears and as well as Next Me by Emily Sunday.  I don't know if I would say go as far as to say that in accord has a distinct style. The way I like to think about it is it's just good music selected by smart people. It takes more than just great voices and good songs for in accord to thrive. Hard work and dedication are also key elements in helping them be a successful and well-respected acapella group on campus. For BU News Service, I'm Caitlyn Figtal.


The following is a presentation of TFNN. The TFNN Bull Bear Training Hour. Every training day, live at 10 a.m. Eastern. Call now, toll free at<PHONE_NUMBER> or internationally at<PHONE_NUMBER>. The TFNN Bull Bear Training Hour. Now, Tom and Tommy O'Brien. Welcome folks, Tommy O'Brien, coming to you live from TFNN Headquarters in St. Petersburg, Florida. 10 a.m. Eastern time Thursday coming into that long weekend and quite a start we have to the market. Tom's going to be joining us after the first break. Right now, we get the dial of 277 points, trading at 26,314 S&Ps, currently positive by 32, trading at 2,919 Nasdaq, positive by 111 points. That's a solid 1.4%. Trading at 79, 67. We got the Russell up 20 points. That's a solid 1.4% as well. Trading at 14,93. And as I usually like to on the updates, we're going to start things off with how about that VIX. Now, under 18,1793, as this market charges higher and the news of the morning, the news of the session, China responding with a little bit of quote-unquote calm attitude. So the quote is, we firmly reject an escalation of the trade war and are willing to negotiate and collaborate in order to solve this problem with calm attitude. Smokesman for China's Ministry of Commerce says Thursday. That news coming out at about 3 a.m. Eastern time. You can see the spike across the board on the markets. We have the Dow trading just under 26,000 right prior to that news. Within the span of about 10 minutes, you got a 250-point bop in the Dow. NASDAQ much the same. S&Ps before that news trading at 28,79. You trade all the way up to 2,909 right within 10 minutes. And we're still 10 points now above that level in the S&P as well. We got a lot going on this morning. We got some earnings. You got Abercrombie and Fitch trading lower. You have Best Buy trading lower. We have Dollar General up about 10%. Burlington Coat Factory up 16 plus percent to talk about some of what we have going on this market. Let's jump over to our man Kevin Hinks from Thinkorswim TD Ameritrade right after the show. Every trading day, folks, 11 a.m. Eastern time. Fast market. You want to talk about defined risk. You want to talk about action in the market. Kevin Hinks, Alex Coffey, breaking down the whole trading day. Every trading day. Kevin Hinks, good morning. Good morning, Tommy. Good to talk to you. How's everything? Everything's going good, man. Another day in a late August trading day market and calmness in the markets, Kevin. Where do we start? You know, Tommy, you just mentioned really what is the major cattle today. And that was about 3 a.m. Eastern time, 2 a.m. Chicago time. China came out and said two things. They wouldn't immediately retaliate against the latest tariffs. And they needed, are looking for some de-escalation in the trade war. So very soft, friendly comments from China. And that, if you look at the one minute chart of the S&P 500 futures, skyrocketed right after that, that lifted this whole market. And the thing we're telling our clients today is, careful here, because going into a holiday weekend, this market has some room to run, frankly. Oh, totally, man. I mean, it's a far crack, Kevin, from where we were last Friday, right? Really fear setting into the markets. Maybe an escalation of things to come. And things have really calmed down. And you see the spokesman over in China, really trying to add some calmness to that market on their front. And the market likened that, of course, in a big way. I mean, we're up 40 S&P points, folks, from where we were trading at, at about 3 a.m. eastern time. Yeah, the other thing I think the market liked, Tommy, and that really sent bonds a little bit lower after they tried to rally was when the GDP number came out, 7.30 Chicago time, consumer spending, what drives as much as three quarters of the U.S. economy. They were looking for 4.3 percent, and that GDP report, 4.7 percent consumer spending. So when in doubt, Tommy, just lean on the U.S. consumer is carrying everybody. Oh, they have, man. That's been the way it is. And I'd say that's probably going to be the way it is in terms that you haven't seen that type of corporate investment, right? We got the tax cuts, Kevin, a lot of that. They were hoping maybe some more investment hasn't quite come in, but consumers, they just continue to march on in this economy. And talking about consumers, how about retail this morning, Kevin? We have a few headlines, man. I know you guys were breaking down some of the earnings expectations coming down the line, whether it's Dollar General right now. It was up almost 10 percent where we're sitting right now. Yeah, up about 9.2 percent trading at 154. You got Best Buy pulling back a bit, and then even Burlington up almost 18 percent. And guess, up 21 percent. Just big numbers. Dollar General and Best Buy, we actually covered on yesterday's show. So we took a good, hard look at that. And some of the data that we talked to like fully all about, as you saw on the show, they were very positive on Dollar General. So that matched our data that we looked at. So yeah, that's one of those times where their data was right on. And that's how we traded Dollar General. So we're going to look at that again today. There's more. It gets a little light on retail. We've got a couple of names. We got Workday, Campbell Soup coming out tomorrow morning. And then we've got Ulta, the beauty cosmetics. That's a giant. Retailer. Yeah, so they're a giant. So we'll cover that today too. Three big names we're going to be covering today. Man, I know. And this Bond Story, Kevin, of course, we're all familiar. It just keeps marching on in terms of the number of articles that I have been seeing popping up. And as you'd expect when we have this yield curve that's now inverted for the two to the 10, and you have Secretary Mnuchin yesterday, right? Talking about floating maybe the 50 year and the 100 year and maybe just putting out some kind of a feeler to see what the market reaction is as that hits the tape. And rates where they are folks right now at 2%. And you talk about whether it's infrastructure, the amount of debt we have, not a bad idea in my opinion to really access those markets if you're going to spend them in the government, put out 2% bonds 100 years. If somebody's going to buy it, man, we've talked about it before, right? I'd be a seller. I'd be a seller of 100 year bond in my personal checking account. If for no other reason, Tommy, to just to test the appetite. Definitely. For what it would be.  So why not just test the market with something that can absolutely help this government? Definitely, definitely. So what else? I know you guys are going to be talking about some of those earnings with Alta. It'd be interesting to see how they come out. You know, I think the last earnings was a Kylie Jenner talking about her brand in there and what they put out. Because we're at the near end. I remember when we were talking on Tuesday, I believe it was, Kevin, on Monday we only had like 13 S&P stocks left in the earnings. So we're really at the tail end with only a handful of stocks coming out with their earnings. And it's remarkable, man, the volatility we have gotten coming into two days left in the summer, Labor Day on Monday. And you had a VIX yesterday, Kevin, at 2164. And just like that, we're now sitting at 1776 as maybe the market's saying, okay, de-escalation from China, where we got two days left in the trading day and the volume pretty light yesterday. And you're probably only going to see that slip off today and of course into Friday into that long weekend. Yeah, pretty interesting. All the risk off assets started on the downside this morning, bonds and the VIX and even the Japanese yen are still on the downside, but gold, gold is down this morning and is rallied all the way back to unchanged. I think that's one of the more interesting trades of the day that gold with a market up big and all the other risk off assets down, gold's hanging in there today at some historically high levels, frankly. I agree, man, because gold, we've seen it. Yeah, we've seen it trade like inverse with the market, Kevin, right? You know, and you see it, I have the gold contract up here on the thinkorswim platform right now at 3 a.m., folks, you had gold up at almost 1560 and it pulls back hard to 1544, but then boom, from 7 a.m. until 9 a.m., you traded $10 up to 1554 and that's as the market continued to trade higher. Well, Kevin, man, we appreciate it. We look forward to the show at 11 o'clock and you have a great long weekend, man. Safe long weekend. We look forward to talking to you next week. Great talking to you, Tommy. Have a great day. You too, man. Take care. Stay tuned, folks. We'll come right back. If you're looking for a scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The TAS Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, TAS understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. We also gained access to the webinar that Steve Dahl and Tom O'Brien just hosted. The best way to use the TAS Profile Scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30-day money-back guarantee so you have nothing to risk. Start your subscription by visiting the front page of TFNN.com today and you'll find the TAS Profile Scanner under the Services tab. Sign up today. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa, and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels. From the price you should be paying per square foot in certain up-and-coming areas to the type of cash flow investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. Before you make one of the biggest decisions of your financial future, call Tiger Real Estate LLC today at<PHONE_NUMBER> or email us at tiger at TFNN.com. That's<PHONE_NUMBER> Call us today. Many of our new listeners have heard about The Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable, moderated atmosphere. Hear all of the TFNN shows, plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive The Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. The Tiger's Den is on the front page of TFNN.com. Educating investors. Call now. Toll free at 1-877-927-6648 Internationally at<PHONE_NUMBER> Folks,<PHONE_NUMBER>. We have the Dow Industries up 247. NASDAQ's up 105. S&Ps are up 27. Slow day in the market, man, as it's been for August as we come into the holiday weekend. There's no doubt. If you get over and take a look at this, folks, what you're going to see now, we're certainly, we're in a range. The thing that's amazing, though, there's no doubt. Talk about a range. Yeah, exactly. Last week we were down on the Dow at 25,500. Well, you're up 800 points from that. Yeah, and you can see. You don't have to be a technician. Top of the range, 26.5. Bottom of the range, 25.5. Nothing like a thousand-point range. Just to see how that range. We'll do the spot. That's perfect, because the Dow, of course, can skew things with, but just mammoth here as well. Nice and simple. 295, and we'll call it, whether you call it, maybe 285 on the conservative side, almost down to 282.50, you know, on the bottom. And that's every point here is 10 points. So when you're talking about 10 points, you're talking about 100 S&P points. And we really almost talk about 125 S&P points from about in the spy, at least. Looking at the upper end, almost 295 in the lower end. Call it this notch right here, which would be 282.50. Watch this. If you do this, folks, with the futures, you're going to see on Sunday night how much lower we were. You see what I'm saying? On Sunday night, you got all the way down to 2810. There you go. 110 points. Now, that being said, guess what? We're going to talk about where the market keeps selling off. And I heard you and Kevin talking. This is what gold has going for it, folks. As the bonds do, each and every time that the market pulls back a little, gold is creeping. Each time the market is up, gold won't give it up. So it's going to get intriguing here watching it. You get 270,000 contracts, just a big contract volume. So you're pushing highs with volume. Can you go closer? Just for the same, because you can see that 3 a.m. So there's where the announcement comes from the Chinese spokesman talking about some calm attitude. Calm down. And you saw the market spike higher. So you saw gold spike lower. They've been a little bit inverse, but that's where you get the duration. But then, like I was saying to Kevin, from 7 a.m., by 9 a.m., we're trading at 50 and 55, and the market continued higher on that whole time. So that's where you get that separation. Gold gains strength at a time when the market's gaining strength. And if we go over to the bonds, you're going to slide back off, but not much, man. All things considered, right? You're at 131 right now. The 10th year, this probably went to a lower yield last night because it looks like it's above 144. Looks like the low. Yeah, so... We're sitting at 151 on that spike probably from the market right now. Look at that. So we hit 144.25 and the low right now is 144.09. Okay, by a hair. Yeah, exactly. And good ol' King Dollar. So King Dollar, folks, right now basically once it got over this again, look at that volume though, this is sick. We're down with 29,600. Monday, it had some volume in it. We did 18,000. And that was the big day it was Friday because that was, like I mentioned to Kevin, that man, things seemed a little worse and it was about to fall apart. Right. And then, guess what? Tuesday, Wednesday, Tuesday, you only did 9,700. Yesterday you did 10,300 and here on Monday, man, they called Trump over the weekend. So Mr. President, we need you to come to the table and do a deal with us. Well, something that I suspect we also keep paying attention to though is, not though, is paying attention to is Mnuchin like saying that, okay, we're not going to intervene in the dollar. There's too much talk about intervening in the dollar. You know what I mean? And you better keep that on the top of your mind because most times there's a lot of conversations that are usually off the table that are somehow on the table recently. And, you know, that 50-100-year bond and the... Listen, there's no doubt. I want 100-year mortgage at 2%. Sign me up, man. Totally. Yeah. What's my payment on that? Oh. Right? Yeah. Seriously. There's no doubt. Never pay it off. And you know, so I just heard there's so many funds going after yield that there's more money than there is yield. Okay. And it was only... it was 2017, so 2019. Yes. When they sold that 100-year bond... Argentina. Argentina. Yes. That's 40 something to the dollar today. Yes. You know, so... That seems like an easy trade going back. That's such a haircut, man. I mean... We said at the time, who's buying? And now it would be one thing in the U.S., right? Yeah, you could buy that, maybe. Maybe, right? Yeah. But Argentina, man. I know. You know? Really, you have faith and confidence for a century. And you bought it at full price. Yeah, for a century. So you're talking about when you got grandkids and great-grandkids that you're confident that they're going to be paying that back. Argentina. Right. I mean, I wouldn't have confidence in almost anybody for 100 years with what can happen in political turmoil. Yeah. America was to 2019. Right? I mean, that's like 100 years. The world changes dramatically in that time. Oh, my God. In a huge way. Let's go take a look at some of the higher-volume equities and I expect we're going to have a low-volume market out here. We're kicking into Labor Day. Oh, look at that. Oh, my God. We'll find out what Oli's bargain is. But Oli's bargain is down 21 bucks. Yeah, and I happen to see them on the... At 56. Maybe they have some earnings. Oli's bargain. Well, I've never even heard of this company. So, Oli's chain of retail stores that offer brand-name products with discounts. Maybe Dollar General's eating their lunch. Low is 54. The high is... Dollar General's up today, obviously. So, revenue-wise, look at that big company. Not bad. They take in 325 million a quarter. Look at that growth. Three-year growth, 17%. But what have you done for me lately? Yeah, Oli's. Oh, man. Wow, look at this. So, this is a classic too. That's December. So, here's another one that's back to December now. So, December has a high volume low. Yep. Oh, watch this, folks. So, this also... So, you had a high volume low in December. $59.72. You made a high with 15 million, and this was always dangerous. And look at how you come off the high. 26 million. What happens there, folks, is that what I've seen, when you come off the high with volume, it's like, who's selling? But it seems that the folks that are the largest owners in the equity get out. And so, then what ends up happening is that even as it goes down, they're not there coming back in. Like, if you've decided that, okay, you had a nice position, the opposition started at 23, going back to 2016. I'm saying, amen. I think this thing's going to slow down. I'm at $60. That's always a big problem. Oh, man. Oh, natural gas, right? Oh, we sure do. Let's see if we can get a quick feel for where the market is before we come in. So, we get the EIA numbers coming into 1030. We'll jump into the commodities. Where are we in natural gas? We're sitting at 227. We're looking at the October contract. Talk about a little pop. $0.05 move, yeah. Yeah, jumps up all the way. We're looking at the Trump administration considering rolling back regulations on methane. And I wonder if that plays into the natural gas contract. But we'll get those numbers in three minutes. Natural gas into 227. Quite a little pop this morning already. Big 10. Dow, Dow Industries up 260, Nasdaqs up 109, SAPs up 28. Come right back, host. Hi, folks. Tom O'Brien here. If you'd like to get my daily newsletter and market insights, every morning by 9.30, I send out my morning letter to subscribers with market commentary on a variety of markets, currencies, and commodities to keep investors up-to-date on the day's trading action. Included in Market Insights are specific buy and sell recommendations for stocks, ETFs, and even options, which stops and price targets included for every trade in my newsletter. If you'd like to try my newsletter at risk-free for 30 days, then head over to the front page of TFNN and you'll find Market Insights under Trading Newsletters. This is a piece of trading experience to bisect and dissect the market every morning and give my subscribers the most important information they need to know for the day ahead. I even issue afternoon updates for my subscribers whenever warranted with important market action. I'm always scouring the market for the next great trading opportunity. Sign up for your 30-day free trial to my daily newsletter Market Insights today by visiting the front page of TFNN.com. Well, go get them, folks. The path of least resistance is through Trading Newsletter, and if you're looking for active trading ideas, then now's a perfect time for a 30-day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter. Using a combination of equity trades along with options, David keeps his subscribers up-to-date with all pertinent market information with intraday afternoon updates when warranted. There's a chance to get a 30-day free trial to David's daily newsletter, the Path of Lease Resistance, with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently, and if you'd like to see the type of newsletter he delivers every morning, then visit the front page of TFNN and you'll find the Path of Lease resistance under Trading Newsletters. For all the details and to start your 30-day free trial today, log on to TFNN.com now. We're excited about our new software charting program, the Art of Timing the Trade Chart. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, Your Ultimate Trading Mastery System, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, the Art of Timing the Trade Chart allows you to scan thousands of stocks for Fibonacci formation setups, and the chart is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade by visiting TFNN.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. So, natural gas rose 60 BCF. Yeah, it looks like the median estimate was around a rise of 57. The Bloomberg survey had a rise of 58 pretty close to in line. No real reaction. I say no real reaction. Drop the penny pretty quickly, because a little bit more, right? Three BCF, three billion cubic feet, maybe more than they were looking for, but compared to the move we had this morning, not too ridiculous of a move sitting right at that 227 price point right now. And so kind of what I referenced going into that break, we'll pull this article, there we go. So news coming out this morning that the Trump administration, the EPA to roll back regulations on methane, which of course, I say of course, but maybe not all are aware, a potent greenhouse gas. So interesting stuff in here in terms of so the Trump administration said to announce on Thursday it tends to sharply curtail the regulation of methane emissions, a major contributor to climate change according to industry officials with knowledge. The EPA in a proposed rule will aim to eliminate the federal requirements that oil and gas companies install technology to inspect for and fix methane leaks from wells, pipelines and storage facilities. Interesting here that the major energy companies actually against this because we'll dig down there further. They've spent millions of dollars already to put those in place. Be in line with those regulations. It doesn't make much sense that you have a well when you get stuff leaking out of it either. Especially when so I'm scrolling a lot here but to dig down, so here we go overall carbon dioxide, I think we're all familiar with this one there's a significant greenhouse gas but methane is closed second. It lingers in the atmosphere for a short period of time but packs a bigger punch well at last by some estimates methane 80 times the heat trapping power of CO2 in the first 20 years and methane currently makes up nearly 10% of the greenhouse gas emissions in the U.S. a significant portion coming from the oil and gas sector. So I don't have a huge fundamental understanding of the natural gas market but I'm wondering whether that putting some into the price this morning? Sure, but nonetheless, yeah. Yeah. I know, right? Pretty remarkable. So we go over here, let's go, I want to take a look at the these chips, NVDA. So the chips once again they don't have the juice behind them, they're interesting, they get the price behind them like Nvidia is up five and a half bucks but this is still a range too. 15 million is at 2.8 that might have some decent volume out here today. The banks XLF the banks still are in tough shape. Oh, I see this is already going to fail this is going to be interesting watching this. So you got the XLF today up to a 2678 look at the velocity the downdraft high was 2679 almost by a penny I know, almost we'll see how that shakes out meaning but it looks like it's going to fail out here today, right at the highs too, JP Morgan, JPM How's Jamie Diamond doing this? Yeah, exactly. He's holding price, that's up a buck 97 that's the difference, he's holding price and let's go see what Berkshire is doing particularly so Berkshire folks what ends up happening, that's up a buck 73 now let's test in the highs and so what you have here is this and this is, you want to talk about something that's deviant folks, okay is that we have the hover cane that's coming into Florida, right so I remember the first couple times that this happened and you're thinking that all the insurance companies are going to get smoked, right? because they have liability out there, right what ends up happening is that oh, and by the way, this is congratulations, this is our anniversary at Katrina today, today, August 29th August 29th I don't even want to ask you what year 14 years ago 2005, 2004 that's 15 years ago 2004 2004, we'll talk about that in a second seriously, that's a trip that sure is so the Berkshire Hathaway deal in the insurance companies in general what I've seen is that when a hurricane hits they go down for like a day and then they go up dramatically because what happens, like the east coast of Florida has not got a major hurricane in 14 years it's weird, okay but that's the bottom line I'd love to hear how that's classified I know I'd love to hear how that's classified so get the gist of it what ends up happening is that when they have to pay off then they go to the regulators and up the rates again it's pretty intense, yeah, 2005 it was 2005, 14 years ago Katrina, we're out there at Harris the Harris in New Orleans Odyssey Marine exploration that poor company as in they were launching an exhibit, a whole new it was Odyssey Marine Day folks and the parade that was the parade they had a whole exhibit in terms of they had found that shipwreck they had taken a bunch of the artifacts created a whole exhibit in New Orleans to kind of extend the lifeline of the profitability of that discovery built an exhibit of it in New Orleans for the exhibit I'm not sure if it's still there maybe it is, I'm not sure it closed like two years later it just did New Orleans was the most close to it the reason they had done it like that is that there's an exhibit Max, someone that had found a bunch of gold there's an exhibit down in Key West and there's already another one there it's a good tourist New Orleans has enough tourists you're looking for things to do while you're in the city to see the gold I remember they had one huge gold bar in there just like they had one in Key West 14 years man thank goodness we were doing a little gambling at Harris because we had some cash folks and that's the lesson you get ready for these storms, have some cash no ATMs, people trying to trade diamond necklaces diamond earrings, watches just to get around nobody had cash, thankfully we had a little cash I made a little money at poker the night before we had some cash on us from the gambling and we were about the only ones out in the street too by the way we weren't the only ones in the street why do we have to go we were not the only ones in the street there were a lot of people we were not the only people in the streets in New Orleans because just to put it we were fortunate that we actually weren't in the streets I'm talking about the night before that was a bad deal we were lucky that we were staying in a Hilton high-rise because the whole French quarter we just got shut down you had families staying in the French quarter those hotels just were not willing to take the liability of housing people they literally just closed, kick people out see families walking around with their bags, kids, know where to go and what happened we were so lucky that the Hilton had folks so it was pitchy, you get the outside of the Hilton but their conference room was in the middle and that was all blocked off everybody had to come out of their rooms the conference room they were worried about the windows the wind gusts there you had to sign a waiver if you want to stay in your room and of course there were some people who couldn't use the stairs as much they were worried we were very fortunate though being in a big hotel like that hopefully this storm as we're talking about it why not just because I have the cone up here somewhere there we go there's Dorian it's going from east to west east to west east to west usually they come and they loop into the gulf usually they go right up they'll come up the Atlantic coast but this one the cone of course from the potential areas that could hit and hopefully because the gulf some of the warmest waters out there the Atlantic is still warm late August or early September hopefully that keeps it in at two or three by the time it touches land it's down to a two or one put all that good white light send that baby out to sea that's right man so as we're talking the S&P pull back eight points Dow, Dow up 196 Nasdaq up 83 S&P up 22 come right back if you're in the CD market there's a lot of lots in the tax opportunity zone in St. Petersburg, Florida the tax act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits which makes these lots valuable the investment is anywhere from 30,000 to 75,000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com the best rate for a four-year CD in the country as of February 20th is 3.1% a $50,000 investment at a normal four-year CD rate of 3.1% $1550 per year or $6,200 over the four-year period that same $50,000 investment in the Tiger First Mortgage Program would give you $3,500 per year or $14,000 over the four years what should you prefer? $6,200 or $14,000 of interest on your investment if you'd like more information about the Tiger First Mortgage Program you can call me at<PHONE_NUMBER> that's<PHONE_NUMBER> what are you waiting for? all of the TFNN newsletters are informative up-to-date, affordable and must have for every trader looking to gain a competitive informational edge in today's markets TFNN newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk-free for 30 days from all aspects of the markets including stocks, bonds, metals commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com educating investors biotech is booming but for how long? has it run? or has run its course? trade LABU or LABD directions daily SMP biotech three times bull and bear ETFs visit directioninvestments.com slash biotech today an investor should consider the investment objectives risks, charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares contact direction shares at<PHONE_NUMBER> the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor foresight fund services LLC www.sMPbiotech.com then hit watch Tiger TV for the latest market information folks dow dow is up 229, dow is up 92 SMPs are up 25 and if we go over to those the interest rates folks and we take a look at the curve right now let's talk a little yield inversion and what you're going to see is that you get a nice inversion and this is the third day so now we're banging out 5.01 the two-year banging 1.516 pretty remarkable man and you know the cool thing about markets in general is that you get probably a propaganda out there and fake news and all of this that the administration lays out and Navarro, Peter Navarro we're going to bring this up right now is basically he's been out there for quite some time saying that along with many others right saying no no no recession don't listen to the yield curve that doesn't mean anything so I saw a tweet one of my buddies shared with me this morning I found pretty interesting I want to talk about so it doesn't matter who this Twitter account is this is an opinion columnist for the post but they're talking about as and this is just fact Navarro keeps going on TV saying he knows the inverted yield curve which he calls flat and I guess he has doesn't signal recession because he quote wrote several books on the efficacy of the yield curve as a leading economic indicator and you want to hear what he wrote folks this is the books and this is where details matter okay so the first one the master cyclist's favorite forecasting tools perfect okay so and I'm going to read a little bit above the red just to give it some context but we're going to go through a few of these because it's remarkable what he actually said and this is what you should be listening to because this is what he was saying when he actually wrote a book and he wasn't just out there for his king so he says as for the flat yield curve observed in 1989 every inverted yield curve must go through a flat phase however not every flat curve inverts still a flat curve is an only slightly weaker signal of recession although it predicted all of the past six recessions within an eight quarter horizon it also had two false signals okay not too dramatic right it's better and better given the yield curves excellent forecasting track record it seems truly remarkable that so many corporate executives chose to ignore its strong recessionary warning signals leading up to the 2001 downturn to see why the claims of CEOs such as John Chambers that quote the brightest people in the world didn't see the recession coming are so hollow well who's the hollow one right now okay just consider a figure we don't have the figure but it charts the ominous progression of the yield curve from its normal quote shape in 99 of June of 99 to the flat curve in November of 99 and finally to the recession signaling inversion in March of 2000 here's the best one now watch this one yet the broad forecasting point we can extract from this very typical scenario is this colon the yield curve is such a powerful forecasting tool precisely because it embodies the collective wisdom of millions of highly sophisticated investors quite literally putting trillions of dollars on the table in highly intelligent speculative bets on the direction of the business cycle that is about as far from a Ouija board forecasting as you can get so which one are you going to believe a guy touting for his king who can't handle anyone who disagrees with him or what he wrote actually when nobody was you know he wasn't a good writer that's I'm surprised he has the you know a student is actually right like that to be fair but so keep that in mind when you see you know the president's cheerleaders out there talking about don't listen to the yield curve folks yeah you better be listening to that yield okay there's no doubt staggering what we're going through in the yield curve in terms of this is not normal stuff when you start talking about inversions and then at the same time talking about 50 or talking about a hundred because they're so low talking about the fed's going to maybe drop 50 basis points mid-meeting right I mean it's just and then you have a s&p dividend yield above the bond yields I mean just everywhere across the board not good signs no no and you know that I think the bad thing here is to figure out like just that he was saying it's eight quarters because that's like yeah it's usually ahead by a year or two it doesn't mean it's gonna fall apart tomorrow it's like okay man you know it's pretty amazing well we all just gonna watch it there's a million things going on but it's important to see that type of commentary to contrast it with just you know Cudlow out there Navarro out there and all they're saying is everything's cool reelect Trump all right so be aware of what actually gets said when they're not in a political position because all they're talking about right now is politics right okay so just be aware of that it's it's well it's mass because they represent themselves as you know financial right but when they were actually in that role of financial without being in the administration right they said very different things right so keep that in mind and let's go back over to the s&p so this is going to get interesting here this is where you got right up to the highs again and you know someone loaded on this thing look at this thing you know we have a 10 minute up there and someone unloaded in 10 minutes they unloaded 79,000 contracts that's a big number man it's a half a percent 15 s&p points yeah 2920 to 2905 in any other universe that's usually a mammoth move right yeah but in context to where the market's been moving man yeah looks like a blip on the chart and you know folks if you get this is all let's see that's 3 a.m. we're actually inside it once you get inside this 2911 you know sure rejected right now but that means there's game down to the bottom again to that was the quick spike at 3 a.m. and you can see if you just take the volume characteristic that was the spike was at 45,000 contracts down track big one 79,000 yeah you know and you know we'll see how this baby shakes out let's go to the nq's for nq you 9 yep of course I knew it was going to be there but let's see oh yeah the nq's are heavy 22,000 contracts going into 11 so 7668 it's right there we're going to dig into these folks this is going to get interesting this is a oh boy hey just when do you think I mean to bring people back again where it's like the fall apart at the end of 2018 that was Christmas Eve so don't think like Friday before Labor Day that all is well every single point that we pull up on that chart still to this day where we look at those lows of December of 2018 Christmas Eve you know and that was a shocker so be aware that this is a different market if things really pick up I mean Twitter's open all day today I think so so be aware yeah wild man so let's look at this white saying that Tim Cook has sold stock for the first time this year let's see what did he sell oh boy insider selling that seems to be a commonality recently I was reading an article I think when I did the program on Tuesday insider selling reaching a level that we haven't seen since 2007 something about 10 billion dollars and I forget whether it was a day a week whatever it was now granted the market is so much higher than it was in 2007 so it wouldn't mean as much 10 billion being sold today as it would be 10 billion being sold in 2007 but we're at those levels last time we saw them insider selling 2007 and then you got Apple that would be interesting yeah there it is right there 850 54,000 file and date was that two days ago two days ago but I'm not sure if that says so it's uh he's got quote up there the Cook sold 265,000 shares on August 22nd 26 excuse me so maybe that is the filing date that before this he had an additional 200 and he sold stock 54.7 million bucks are you a buyer a seller folks from the CEOs of sell them think about that seriously excuse me folks stay right there Tommy and I are going to be coming right back we have the dial up to 12 now it's like a 86 piece of 22 coming right back I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for mastering probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I teach you step by step how to use an extraordinary set of tools as well as provide great market calls to sign up today it's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th, 2002 when gold was trading at under $300 per ounce gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices gold may be poised for its next big run. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, The Dollar, Bonds, South African Rand as well as 25 different mining equities with specific buy sell recommendations as of April 1st of this year the gold report currently has 8 active positions with an average unrealized profit of almost 8% for each open trade. New subscribers get a 30 day money back guarantee so you have nothing to risk.  Sign up today Since 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion. While originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under circumstances virtually always had a certain number of legs to the upside before declining sharply. Later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy and calling price turns as well as market trend calls. Thus was born the Chapman wave sequence. Using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. You can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com. Cancel it anytime during that trial and pay absolutely nothing. Get your two week free trial to Basil's newsletter the opening call today by visiting TFNN.com This segment is brought to you by think or swim. For more information just click the think or swim banner on the front page of TFNN.com Folks down, that was up to 18 that was except 90 S&Ps are up 23 and we're just talking about Tim Cook but guess what there's a lot of other insiders that are selling just like 2007. Party like it's 1999 or like it's 2007. It's pretty heavy man. So yeah I talked about this earlier in the week this article from Tuesday I guess but just to highlight if you weren't listening to the program on Tuesday so corporate insiders have sold an average of $600 million a stock per day per day in August that's going to go up with Tim Cook selling $54 million himself August on track to be the fifth month of the year which insider selling tops $10 billion the only other time that has happened was in 2006 and 2007 and yeah that's it I said to you when I pulled that up I remember that specifically folks and they were selling a good year before the market crash 2006 crash is 2008 right and it's pretty interesting when you have the yield curve people saying the same thing listen it forecasted but it forecasted it's a year year and a half 18 months out kind of eerie and again the only thing to consider is that from where the market was in 2006 to where it is now insiders would probably have to be selling 20 to 25 billion to make it comparable but nonetheless that's something you should have on your radar one of the 2754 things you should have on your radar every day this to me it's just like you know I haven't heard anyone yet that they're going to be a buyer of the 100 year bond if we do it but there will be someone they're talking about you know if you have liabilities going out that far certain situations right you can you know that would make sense but to put that product out there you need a sustained demand and that's where there's a lot of questions whether you'd have a sustained demand like you have in the 30 year trillions of dollars going through it with that transfer to something like a 50 year 100 year I think that's putting those feelers out so right there folks to get fast market coming up next and we get on man Mr Basil Chapman Steve Rhodes Dave White I'll be back this afternoon okay we'll see where we are by four o'clock oh yeah oh yeah we'll get them folks


Hey, PCP fans, it's your soon-to-be best friend, strawberry milk, making his first ever canonical video appearance.  See, Munchie and Ben do their excruciatingly tight schedule for selling drugs, have outsourced some of their creative vision to meeting my good friend, Phantom Horn, so you can go watch the new Riot Fragrance Cop killers over on Phantom's channel, TBBBAP, otherwise known as two best brothers bitch about ponies. It's an old Milo Pony analysis channel that Phantom used to run with his brother back in the day, and I think you can understand why Munchie and Ben wanted to post this there. Uh, so yeah, just click the link in the description or on screen right now and you'll be sent right to the video in a new tab. God speed? God bless?  Look at me. Look at me go.


Federal Reserve interesting stuff happening on that front because Trump is about to announce his choice for for the chairman of the Federal Reserve a very powerful position Maybe the most powerful economic position in the United States and possibly Possibly the world more more powerful. I think than Treasury Secretary or the chief economic advisor to the president And we've got a number of different competitors for the wall We've got Janet Yellen who is the current chairman of the Federal Reserve we've got Jerome Powell who is one of the Fed governors who's on the board that makes these kind of decisions already and has been there in a while Oh, wow with a Gary Cohen who is a chief economic advisor to the president and was the frontrunner for this position until he criticized Trump Gary Gary you can't criticize Trump If you want to advance in life It's wrong look look at me, right? I criticize Trump and Anyway, you can't do it. You can't do it. Trump is a narcissist and he does not tolerate criticism from anyone media his own colleagues his own friends his Anybody you cannot criticize him.  So I don't think Gary's gonna get it Kevin Walsh who is a former Fed governor. He was a Fed governor under Bernanke and he was there during the financial crisis and was responsible for everything the Fed did during the financial crisis So, uh, so Kevin Walsh is another and then I think the most interesting Possibility is is John Taylor John Taylor is a Stanford economist Generally a free market guy. None of these other people I would call them free market guys. They were all either Economic statists they believe the same central planning or they are cronies I would consider Walsh, Cone and Powell Cronies and I would consider yelling. Well yelling and Powell are clear statists And John Taylor is the only one who's a free market guy and this is why I Truly believe John Taylor is not gonna get the job. Now. It's not just that and I'm gonna get a little technical on you here So but bear with me again You listen to your own book show not just to hear me yelling and inspiring but also to get educated because you're not gonna hear this stuff anywhere else The Federal Reserve is the most powerful economic institution in the world It basically controls the money supply of the United States. It prints the money it determines interest rates it determines the quantity of money in the economy and The interest rate charged on money at least on the short-term rate in the economy It has massive ability to distort the US economy for example by buying financial assets or selling financial asset That's by the way how it expands or shrinks the amount of money in the economy as most of you know The Federal Reserve bought about four and a half Trillion that's with a T trillion. That's a thousand billion Which is a million millions so four million millions of Various financial instruments primarily bonds and mortgage-backed securities and by doing that expanded Nominally expanded the money supply by four trillion. The funny thing is at the same time Those four trillion were put by the banks into reserve at the Fed So really in terms of circulating money 90 not much really changed and not much really expanded Anyway, the Fed has this incredible discretionary power. It doesn't really report to anybody It's an independent institution government institution But you know, you can impeach the Federal Reserve chairman, but other than that he's pretty autonomous But Anki almost all Fed chairman have had since the Great Depression since 1933 They've had complete autonomy in terms of what they do one minute They weren't bound by any rules or by any standards or by any restrictions or by any constraints and That's what What one two three four of the five nominees would like to continue The advantage that the thing John Taylor is different the way John Taylor is different is he would like to constrain the Fed He would like to constrain its ability to move interest rates To either print money 30 or extract money from the economy And that's what makes them interesting. So when we come back We're gonna talk more about what John Taylor wants to do about the Taylor rule What these others would do and what I would suggest in terms of the Fed and maybe talk about the inherent inherent problem With the very existence of the Federal Reserve. All right, you're listening to your own book show on the blaze radio network We'll be back after these messages The Iran Brooks show All right, this is your own book.  Why Yellen? Cuz he knows her He doesn't want anybody new who might stand up to him. God forbid who might criticize him.  He wants low interest rates He doesn't really care about much and his understanding in economics is Superficial at best It's it's very bad and Yellen's gonna keep is she's a dove She's gonna keep interest rates low for as long as you can he might go with somebody like your own power Hello, Gary Cohen who are gonna do the same thing. I'm pretty sure you won't go with Kevin Walsh Kevin Walsh is too much of a of a loose cannon I think and and too much of a Republican and you know Yellen pow Cohen all Democrats. I think that's where Donald Trump's heart really is it's in the Democratic Party when it comes to economic issues and and I suspect he's gonna go with one of them easiest safest Appointment would be to point Janet Yellen. I If I could influence the decision which again I would love to see John Taylor in the wall because John Taylor has a view somewhat at least to some extent of limited government and also limiting the power of the Fed and Limiting the power of the Fed in terms of its discretion in terms of what it does So he would have a rule an equation if you will I'm not a huge fan of the rule, but better than nothing A rule that that is predictable that the markets know about how monetary policy would would move over time and It would not be at the discretion of some bunch of economists who come up with some bunch of economic theories and It would be one equation basically and the markets would know and they would adjust and while I think it's far far from optimal It's it's better. He now Would John Taylor stick to the Taylor rule if he got into power? Unfortunately, I think he wouldn't I mean, this is the problem with the Federal Reserve. It's a political institution and they always succumb to political pressure So this is my bottom line The only solution to Federal Reserve is to do away with it. I think the Federal Reserve is a horrible Institution I would like to do away with it and I would like to do away with the government having any control over money or interest rates I'd like to pass that responsibility over to the public private sector I'd like to give banks the responsibility of issuing currency based on Some reserve that they have like gold and then interest rates would be determined purely by the market. There would be no No government set interest rates think about it this way Central planning doesn't work when government sets prices you either have They either set it too high or too low the only proper Price is a market price. It's the price. We're supplying demand clear It's the price that Integrates our values what we care about Imagine if the government set the price of an iPhone. I mean it would completely distort The whole supply chain of the iPhone and destroy Apple and and either make the iPhone too expensive Which is what it would probably do or it would make it so cheap Apple would stop producing it So we'd even have shortages or surpluses because it was too expensive. Nobody would want to buy it No, we know this doesn't work because the Soviet Union experiment and prices of bread and what you had is shortages and surpluses And it was just a disaster every time price controls by the government Nixon tried this in the 70s Every time government tries to impose price controls. It messes it up. It screws it up completely But We take the most important price in the entire economy by the way the most important price in the entire economy is interest rates because every economic decision relies on some estimate on some projection of interest rates Everything every every product you have out there is impacted its value is impacted by interest rates in the economy So we take interest rates the most important price in the entire economy and We centrally plan that we let the government determine that through the Federal Reserve. We take money Maybe the most important product in the entire economy because we use it To purchase every other product we use it to save we use it to invest and we give the government a monopoly over its distribution over its creation and distribution How ridiculous is that? We don't believe in government monopolies Well, I guess we do we have a government basically monopoly over education. We're working towards a government monopoly over health care They still have first-class mail. They have a monopoly over we can never destroy government monopolies. It seems but they don't work and They suddenly don't work when it comes to money and interest rates. All they do is distort and destroy the economy So nobody not John Taylor not Alan Greenspan not Ben Bernanke Not Janet Yellen can determine the right interest rates only markets can do that and in trying to do it All they do is set us up for failure Alan Greenspan's interest rate policy set us up for the Great Recession Interstate policy during the 1920s set us up for the Great Depression Interest rates during the 1930s set up the continuation of the Great Depression the Federal Reserve has been an Unmitigated disaster since its founding and and there's a lot more I could say about this But we are a little short in time here So I'll just say this it doesn't at the end of the day doesn't really matter who Trump But I think it'll tell us a lot about Trump's personality If if he appoints John Taylor That would you know that would be one of the better things he's done if he does that just because I think John Taylor could be more Independent, but he'll probably appoint some lackey Cohen Powell or Yellen and That'll tell you a lot about Donald Trump That'll tell you a lot of not that you need to know a lot more about Donald Trump I think we already know all we need to know about him


A U.S. stock index futures rose on Wednesday after remarks from Federal Reserve officials helped calm inflation worries, while a recent deep in bond yields supported NASDAQ futures climb for a third straight session. Federal Vice-Chair Richard Clarida downplayed the effects of higher price pressures on Tuesday, voicing faith in the Central Bank's ability to engineer a soft landing if prices continue to escalate beyond what is expected. Fears of rising inflation have weighed on Wall Street's main indexes this month, with most analysts expecting a jump in borrowing costs in the short term as the economy reopens. The U.S. Personal Consumption Report, the Fed's rather favorite inflation gauge, is due on Thursday. The yield on the benchmark, a 10-year treasury note, U.S. YT, stood at 1.5672 after scaling a more than one month high earlier in May. Higher yields pressure valuations for tech and other growth stocks, whose future cash flows are discounted at higher rates.