"Covid nonsense, the climate change hysteria, while they’re lighting forest fires everywhere that they’re just going to keep doing this until they burn the world down. That’s the Davos crowd. The Neocons are doing the same thing over Russia/Ukraine"

06:39. You know what matters in monetary policy collateral physical collateral kind of matters.  And BRICS just told us that physical collateral matters and Powell is saying the same thing because the US has plenty of collateral.  Or did I miss the fact that the United States is a cornucopia of tremendous amount of commodity wealth?  All the peak oil guys not withstanding, most of whom are just, you know, I would never ever accuse them of being, you know, in the league with the Davosians, the Davos crowd, but they are certainly carrying water for them.  There's plenty of energy it's plenty of oil out there we've been sitting on . . . we're tapping the upper wells, the upper layers of the Bakken Oil Fields, for example, we're tapping all that oil up there but that's the upper layer there's another big pool under the Dakotas and Montanas.  There's an unbelievable amount of oil.

07:45. And it's a misnomer to call oil fossil fuels.  I mean we're finding oil way beneath any fossil layer.  All the real evidence shows that it's abiotic and I used to get into fits with guys like Michael Rupert back in the day, before he killed himsel.  There's no such thing as peak oil.  It's not a limited thing.  It's very plentiful.  There's artificial scarcity and because they . . . the problem with peak oil guys is that they're not financially literate enough to connect the dots.  That's what I've seen to be the biggest problem.

08:17. I agree completely.  I think that some oil certainly is abiotic, but most of the fossil fuels are coal and natural gas.  They are fossil fuels, but oil, not necessarily. And I've argued with oil engineers, petroleum engineers from Exxon about this. I remember being in a Libertarian party, an annual conference, the state conference, maybe 3% of fossil fuels is abiotic. Feeling froggy?Take that 20 years later and Exxon is still drilling in places where there should be no oil.  The Russians are still pulling millions of barrels out a day from places where there should be no oil.  It's dumb.  Tom Gold's Deep Hot Biosphere blew the lid off this just through basic apriori analysis of the world, looking at the world and just building this model in his head.  And he said, look, hydrocarbons of that variety, straight chain hydrocarbons, . . . only form under heat and pressure that can come from the core and the carbon that spins out of the core of the planet is what's filling the lower crust and it's an up and that's where the upper pressure comes from that's why oil wells are pressurized.  Where is that Force coming from that pressurizes oil wells? It comes from the spinning of the planet, because angular momentum, the last I checked.  I look at coal anthracite, bituminous coal, yeah, ring systems, sure.  Ring systems are easy to form when your feedstock had ring systems in them, i.e., benzene rings. You took proteins and fats that already had Benzene rings and you just keep compressing them with heat and make bigger . . . and then you collapse molecules together and they form ring systems because those are really natural energy minima in terms of bond energy.  But then to break those ring systems down into straight chain hydrocarbons, yeah, okay, pull the other leg up and it'll play freaking "Jingle Bells."  That's not happening under these types of pressures and temperatures, it's not happening.  So then otherwise, you have to argue for some form of bacterial process that will break those down and that's possible but it can only happen at very, very deep layers and under extreme temperatures. 

21:20  It is a Rubicon moment because what they’re telling us is that if we don’t submit to their insanity, put the masks back on, believe the Covid nonsense, believe the climate change hysteria while they’re lighting forest fires everywhere that they’re just going to keep doing this until they burn the world down.  That’s the Davos crowd.  The Neocons are doing the same thing over Russia/Ukraine.  And they’re 2 different factions.  They have similar goals when it comes to Russia, but they don’t have similar goals when it comes to everything else.  Davos realizes that if they don’t get control of the United States, maintain political control over the United States, and get control over the monetary system in the U.S., they will be footnotes in the history books and they will all be frog-marched into bankruptcy because it’s very clear that the U.S. oligarchs of this particular variety are done with these friggin people and they’re cranking up the pressure on them daily.  Powell represents them.  I’m not saying that these guys were good guys.  There are no allies in geopolitics, only interests.  We have allies.  We have interests in common with New York and Wall Street and the blue striped-shirt guys with white collars that summer in the Hamptons. And I think everything changes dramatically after Labor Day.  I think as we get into the end of Q3 and everybody does some Q3 end-of-the-quarter book squaring and then October and everybody says, “You know what?” That was fun.  These markets are mispriced.  I’m shorting the bond market.  Because this stuff is insane.  It’s not just our bond market.  It’s clearly Lagarde over at the ECB is doing yield curve control.  You can draw a horizontal line through the French 10-year yield on a weekly basis, the German 10-year yield on a weekly basis, the Spanish, the Italian, all of them, draw a line, cross, that the line in the sand that Lagarde won’t let rates above that.  Most obvious one is the German 10-year yield at 2.5%.  She can only maintain that for so long until everything starts to blow apart.  That’s indicative of what is going to let loose.  I think that Powell and company can continue to put upward pressure on rates, so they are continuing to hold the long end of our yield curve down.  At some point, people are going to be looking at this and going, “These things are mispriced.”  And when that happens, the whole thing starts to go Looney Tunes.  While Powell was speaking this morning, before he started to speak, the Euro was down below $1.80.  The minute he started talking, the ECB went into overdrive to try and stop the Euro from closing below $1.80 for the next hour.  Your homework, folks: watch a 5-minute chart of the Euro.  Go to Investing.com.  Go to Five-minute Candlestick Patterns, and you’ll see what I’m talking about.  You’re seeing a market having a heart attack.  If it was an EKG, the patient was on its way to a dirt nap and we’re going to close the day well below a $1.08.  Powell definitely has them by the short and curlies, when you think about yield curve inversions, what’s going on, why is the U.S. yield curve inverted?  Because the market is trying to anticipate when the Fed is going to pivot and go low.  If they realize they can get 5.5% on 3-month money, but I can bid up 2-year money to 4.2% because I think in 2 years the Fed is going to be at 3.75% and I’m going to make more money on the appreciation of the bond than I bought at 4.25% while I pocket 4.25% that’s the mindset that that’s going to be better than the yield spread that I would get between the 2-year and the 3-month.  That’s why they’re doing it.  That’s what you do when you have a core economy and a monetary policy of that core economy matters.  They’re going to anticipate what the monetary policy is going to look like.  Does that happen across the world?  No, it doesn’t.  Go look at like Vietnam.  We see a frontier market trade the same way in the face of the Fed wanting . . . the markets are still pricing Europe as if it’s a developed market in a core economy when they should be pricing it as a frontier or emerging market.