Trump predicts a market crash in the next 12 months

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News Date: January 9, 2024

Former President Donald Trump anticipated a US economic crash and expressed a hope that it would happen within a year, prior to a potential second term in office, if he were to win the November election.
'When there's a crash, I hope it's going to be during this next 12 months because I don't want to be Herbert Hoover. The one president - I just don't want to be Herbert Hoover,' Trump stated in an interview Monday on Lindell TV.
In 1929, during Herbert Hoover's first year as president, the US stock market crashed, triggering the start of the Great Depression, leading to widespread economic hardship and unemployment across the nation.

Investors should prepare for more wealth destruction

Senior brokers are warning their clients to pull money out of the stock market.
Investors seem to be nervous. And perhaps rightfully so.
A 48-year market vet warns that investors should prepare for more wealth destruction than we have ever seen as the Fed gets set to tighten policy.
David Hunter reiterated his call for a steep decline in stocks ahead.
He said he expects the S&P 500 to drop as much as 80% from its peak.
Hunter said Fed tapering would trigger the crash. Investors seem to be nervous. And perhaps rightfully so.
Stocks are up 90% from the lows in the last year-and-a-half, an extraordinary bull run.
Many measures of valuation show historic over-extension.
The Federal Reserve is getting set to taper asset purchases.
Treasury bond yields are expected to rise.
Personal finance expert Robert Kiyosaki warned the October crash is coming regardless of whether the US debt ceiling is raised or what measures are imposed by Treasury Secretary Janet Yellen or Federal Reserve chair.
Sources: flipboard.com, www.independent.co.uk

Iran, Russia planing the token of the Persian Gulf backed by gold

Iran and Russia want to issue a new stablecoin backed by gold.
The potential stablecoin aims to enable cross-border transactions instead of fiat currencies like the U.S. dollar, the Russian ruble or the Iranian rial.
The "token of the Persian Gulf region" would serve as a payment method in foreign trade.
Sources: cointelegraph.com

A Monetary System as Good as Gold

The gold standard provides a better anchor for inflation expectations without an obvious cost in terms of lower output or higher unemployment.
The gold standard isn't perfect. No system is. But it has many virtues. A strong case can be made that it's the best of all feasible institutional alternatives. Lawrence White, puts it: The gold standard is still the gold standard among monetary systems.
Source: www.aier.org

Next generation supersonic jet

Virgin released a few fantastic conceptual designs of the new supersonic commercial aircraft that would have the capacity for 9 to 19 people at an altitude above 60,000 feet.
The now-retired Concorde flew at average cruising speed around Mach 2, which would mean the Virgin aircraft could hit speeds over 2,300 mph, or about 50% faster.
Sources:liveandletsfly.com, www.zerohedge.com

Putin Announces BRICS Independent Payment System

Russian President Vladimir Putin announced that BRICS is developing an independent payment system, free from political pressure and external interference.
Speaking at the St. Petersburg International Economic Forum, Putin emphasized that countries are racing to strengthen their sovereignty against Western hegemony.
He criticized Western nations for their neo-imperialist intentions and highlighted BRICS+ as a counterweight to Western power.
He noted that BRICS has the potential to attract new members and is actively working on a new payment system to avoid political and economic sanctions.