"Raging Bull" by MenoReno (the gurus from pushing this stuff?) 2/14/20

by **RamblerNash** Fri Feb 14, 2020 11:24 pm

Well, they are at again, folks.

Our favorite gurus are making claims and trying to get us all goosed up and ready for the RV to happen over the holiday weekend, with us in the bank by Tuesday.

Now, MarkZ had predicted something big would happen Wednesday. I must have missed it. He still thinks something big happened, maybe that the markets moved to asset-back stocks.

Let's see. Market capitalization of the NYSE is currently just over $30T, and the NASDAQ's is just over $11T. So, what assets do we have that can back $41T? Certainly not gold. Our reserve of 8100 mt is only worth $400B.

And forcing the markets to go asset-backed would kill the IPO business. Companies go public to raise capital for developing their products and expand their client base. If they needed to back their stocks with assets first, that would probably prohibit them from going public.

Others are suggesting Trump signed the Gold Treaty. If he did, he was the only one. As I explained before, the original purpose of the Gold Treaty in the 90s was to curtail the central banks from selling off their gold and driving down its value.

But times have changed, and the banks are now buying gold, so when the last five year period ended in 2018, nobody renewed it because it was no longer necessary.

Of course, these facts won't stop the gurus from pushing this stuff. I don't know who their sources are, but considering their track record, I'm not planning on being in the bank on Tuesday.

MenoReno