Special Commentary No. 1430
Financial-System Insolvency Laid Bare by the Pandemic, as
Circumstances Accelerate Towards a Hyperinflationary Great Depression
Federal Reserve Moves Towards Unlimited Currency Creation, While the
Federal Government Promises Unfettered Deficit Spending, All Looking to
Bailout Wall Street and the Banks, and to Provide Some Consumer Liquidity Relief
Extraordinarily Unstable Circumstances Continue in the Global Markets;
Economic, Financial-Market and Political Turmoil Likely Have Just Begun,
Despite Ongoing, Massive Systemic Manipulations and Interventions
Holding Physical Gold Remains the Primary, Fundamental Hedge Here;
Gold and the Swiss Franc Should Continue to Hold Their Own Against
What Increasingly Should Be a Faltering U.S. Dollar
Recession/Depression, Triggered by Pandemic-Exacerbated Systemic Instabilities,
Should Begin to Surface With the March Labor Data Release on April 3rd
From Pre-Pandemic Headline U.3 Unemployment Low of 3.5% in February 2020,
U.3 Could Hit 5% in March and 25% in April (with April ShadowStats-Alternate at 43%)
Quarterly Contractions/Collapses Loom for First- and Second-Quarter 2020 GDP,
Respectively, of About 8% (-8%) and Nearly 40% (-40%), Assuming Current Pandemic
Constraints Remain in Place, Accompanied by Major Government Stimulus through June
Although Being Overwritten by the Crises-Driven Economic Contraction, the Still Deepening
Pre-Crises Downturn Seen in February 2020 Freight Activity, Retail Sales and Production
Provides a Soft Underbelly for the New Recession
Reliability Issues Loom With Pandemic-Disrupted Economic Surveying and Numbers