In this report, I cover the early market action from London on Tuesday, October 22nd, 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.
While I was preparing my report today I was looking at the Fed's FOMC Meeting schedule for 2019 and noticed that they had what they called an "unscheduled meeting" on October 4th. During the 2008 Crisis these so-called "unscheduled meetings" were called Emergency Meetings! If everything is ok as we are being told why couldn't Powell and company wait until their October 29/30 meeting?
Today I will also be talking about the day I realised our monetary system is based on a fraud that is actually hidden in plain sight. That was the day I looked carefully at a £20 Bank of England note and saw that they still promise to pay the bearer on demand the sum of £20. Of course, that is an empty promise as that promise actually meant something prior to World War One when you could redeem your note for specie or gold sovereigns.
My conclusion is that nothing has changed in our monetary and banking system since the day I woke up to the scam that our monetary system is. Don't expect the Fed emergency meetings to abate in the near future.
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