In this report, I cover the early market action from London on Thursday, October 24th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I will look into the shenanigans in the repo market and what the Fed is doing there to bail out its Wall Treet buddies and I will also touch upon a recent admission by the former Chairman of the CFTC that the Trump administration deliberately interfered in the bitcoin price by allowing a bitcoin futures contract to be created back in 2017.
I will also attach a video I did a couple of months before the bitcoin futures were launched warning that this was a bad thing for the cryptocurrency space and that it defeated the whole purpose of being outside the fraudulent fiat currency system.
As for the crisis in the repo market, I note that as of today the Fed will be providing another $55 billion in credit or money to the major Wall Street players. What the crisis in the repo market is saying is that the credit market has ceased to function and that the Fed is, therefore, required to intervene.
My conclusion for the day is that more than ever people need to try and get out of the bankers' paper game and be outside the system by holding physical precious metals and real cryptocurrencies in their private wallets. Financial instruments like futures and ETFs should be avoided at all costs.
"The Bankers Hijack Bitcoin as CME Set to Launch Futures Contract.":
"Trump Administration Popped 2017 Bitcoin Bubble", Ex-CFTC Chair Says: https://www.coindesk.com/trump-administration-popped-2017-bitcoin-bubble-ex-cftc-chair-says
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