Civil Disobedience 2020 Style: Anti-Government Protests Spreading Across States

At 8:30 am ET, the Labor Department reported the number of new unemployment claims from the previous week at 5.25 million.

Americans, as a whole, are an independent-minded aggregation of free-thinking individuals. Citizens of the United States of America have been told, since birth, that this is the "land of the free, the home of the brave." Considering recent events, politicians, especially those at the federal level and inside governors' mansions are about to get a loud and clear message, conveying what a free people looks and acts like.

Protests have sprung up across the country, demanding that the government end the forced lockdown, shutdown, self-isolation recommendations and reopen the economy. It's been four long weeks of staying at home, listening to stupid people in government and the media telling us that it's all for our own good. At the same time, while Americans are out of work and still waiting for the stimulus checks that President Trump and Treasury Secretary said would be arriving in two weeks, mortgages and rent still have to be paid, utility bills have to be paid, food has to be put on families' tables. The federal government - as it has been throughout this power grab - are two weeks too late and people have had enough.

"Unjust laws exist: shall we be content to obey them, or shall we endeavor to amend them, and obey them until we have succeeded, or shall we transgress them at once? Men, generally, under such a government as this, think that they ought to wait until they have persuaded the majority to alter them. They think that, if they should resist, the remedy would be worse than the evil. But it is the fault of the government itself that the remedy is worse than the evil. It makes it worse. Why is it not more apt to anticipate and provide for reform? Why does it not cherish its wise minority? Why does it cry and resist before it is hurt? Why does it not encourage its citizens to put out its faults, and do better than it would have them? Why does it always crucify Christ and excommunicate Copernicus and Luther, and pronounce Washington and Franklin rebels?"

-- Henry David Thoreau, Civil Disobedience

Besides being independent, Americans are also hard-working and blessed with a strong moral sense. That sense is telling them that they're being lied to, abused, denied their rights, and forced to do things they'd rather not. This will not stand. The country is about to explode with an angry, frustrated blast of social disobedience that will threaten the overreach that state and federal officials have currently imposed upon its citizens.

Every day, Americans have been forced to endure the bulbous blustering narrative from the president and the anointed health deities, Dr. Anthony Fauchi and Deborah Birx, Their disingenuous, tone-deaf droning every day about flattening the curve, washing our hands, social distancing, death toll projections, improper advice (first, don't wear masks; now, everybody wear a mask), and utterly stupid suggestions that have served well to destroy the US economy are wearing mighty slim.

The mainstream news media have been running essentially the same story every evening on their nightly broadcasts: more people died, the president did something wrong, health care workers are heroes, and at the end some touching story about how somebody survived the virus. It's boring. It's not reporting. It's not journalism. It's not investigative. It's distraction. Americans are being purposely deceived in furtherance of an unseen agenda, one that wants to enslave most to the benefit of the few. 90 percent of working Americans make less than $70,000 a year. Those are the people this government would turn into slaves. In many ways, many of these people are already there. They are slaves to a wage, to taxes, to debt, and now, with no wage, are expected to pay those taxes and debts, an unworkable equation.

"There will never be a really free and enlightened State until the State comes to recognize the individual as a higher and independent power, from which all its own power and authority are derived, and treats him accordingly."

-- Henry David Thoreau, Civil Disobedience

Some obvious points of contention over the nationwide shutdown which need to be addressed:

If the government is forcing people to NOT work, why is that same government NOT, at the same time, forcing banks, lenders, and landlords to suspend mortgages, rents, credit card payments, car payments, and leases?

What are the ages of the people who died as a result of COVID-19 and what underlying health issues were already present?

Why did public corporations and banks get unlimited funding in the blink of an eye, while regular people have to wait for their pittance and small business has to jump through hoops and over roadblocks to receive much-need loans? Why is that small business program already out of money? Will more funding become available, and if so, when?

Why are farmers plowing under crops and why are meat processing plants closing? A growing food crisis looms and the government is doing nothing to prevent it or mitigate it.

Why are parks closed? Why is it that people can't at least relieve some of their stress by enjoying nature?

These questions, and many others, deserve frank, honest, no-nonsense answers and actions.

Across the country, protests have sprung up, by people demanding that the government lift its restrictions and allow people to go back to work.

Wednesday in Michigan, thousands of people jammed the streets of the state capitol with their cars in what was called "Operation Gridlock." Many people took to the state capitol's lawn and steps to protest.

Many Michiganders, who are fed up with the public health order and want the economy to reopen, said they could make their own health decisions and don't need the government to tell them what to do.

Governor Gretchen Whitmer's response to the protesters was a slap in the face of liberty and the Bill of Rights. She said, “I know that people are angry, and that’s OK, and if you want to take it out and send it my way, makes you feel better, that’s fine. I support your right to free speech and I respect your opinions. I just urge you: Don’t put yourself at risk, and don’t put others at risk, either.”

Here's some incredible footage from Lansing Michigan's local media.

Other protests were seen in Ohio, North Carolina, Kentucky, and elsewhere. Future protests of stay-at-home limits have been announced in other states, including Texas, Washington, and Oregon.

For now, these protests have been peaceful, but they will turn violent if state and/or federal officials don't begin making sense about the economy and the people. Obviously, the virus has spread despite all the rules and recommendations. It's time for many people, who are hardly at risk, to go back to work. It's time to reopen the schools. It's time to stand up to the virus and to the government.

The most predictable government response will be sending out police in riot gear and/or national guardsmen to contain, defuse, or break up the protests. Those police and military people are sons and daughters, mothers and fathers, husbands, wives, friends, relatives, neighbors, and overall, citizens. It's highly doubtful that many of them will obey orders to quell the rage of their fellow citizens.

Another probable response by the government will be to close down the banks, shut down the online websites of financial institutions, making it impossible for people to access their money or use or pay credit cards.

It's coming. There's little doubt that the managers, as Peak Prosperity's Chris Martenson calls them, in government (not leaders, because they're not leading) will make more unwise decisions that negatively affect the general population and few that help, while continuing to funnel trillions of dollars to Wall Street.

At some point, businesses will just defy the law, open their doors, and people will shop, eat, work and recreate regardless of government ordnances, regulations, or recommendations.

Finally, there comes the issue of taxation, which overrides everything. Americans supposedly pay taxes to local state and federal governments to fund services which are supposed to be in the public interest. From what has been seen from the big money corporate bailout mechanisms of the Federal Reserve and the Treasury Department, it's becoming more and more evident that the government doesn't need taxes from the working class. They can just conjure it up and borrow it at will. The day is coming wherein people will reconsider their consent to to governed and will stop paying taxes to a government that neither listens to them nor works in their best interest.

"Government is best which governs least; and I should like to see it acted up to more rapidly and systematically. Carried out, it finally amounts to this, which also I believe -- That government is best which governs not at all; and when men are prepared for it, that will be the kind of government which they will have."

-- Henry David Thoreau, Civil Disobedience

God bless America.

At the Close, Wednesday, April 15, 2020:
Dow Jones Industrial Average: 23,504.35, -445.41 (-1.86%)
NASDAQ: 8,393.18, -122.56 (-1.44%)
S&P 500: 2,783.36, -62.70 (-2.20%)
NYSE: 10,843.92, -328.27 (-2.94%)

The COVID-19 Cure Figures To Be Far Worse Than The Disease As The World Enters A Global Depression

Incredible. Surreal. Amazing. Ludicrous. Ridiculous.

Those are just a few of the choicest words to describe Tuesday's equity rally in US stocks. Nothing says "out-of-touch" better than a nearly four percent gain on the NASDAQ when 75% of the world's population is under some form of restrictive lockdown, quarantine, or other form of social suppression.

While millions of soon to be extinct working class Americans citizens patiently wait at their homes for a $1200 check from the federal government, their future taxes flowed to Wall Street in currency supplied by the Treasury Department and Federal Reserve, lining the pockets of billionaires with even more filthy lucre.

As nothing was learned from the Great Financial Crisis of 2008-09, the Federal Reserve has become the de facto World Central Bank (hat tip to the Robin Hood of Wall Street, Gregory Mannarino, for that new coinage), backstopping stocks and bonds and ETFs and any kind of financial instrument not tied to a physical asset such as gold or silver. The Fed is buying, hand over fist, treasury debt, mortgage-backed securities, commercial paper which funds the day-to-day needs of major corporations, foreign debt, and even junk bonds.

This is what the so-called Modern Monetary Theory looks like in practice. Markets rigged via infinite quantitative easing (QE), according to Minneapolis Fed President Neel Kashkari, whose main claim to fame is as the overseer of TARP, the $700 billion bailout of the banking system in 2008. Forget free markets. Forget fair wages and salaries. Forget the Bill of Rights and your guarantees of free speech, freedom of the press, freedom of religion. All that is gone, thanks to the worldwide worship of the world currency, the US Dollar.

Want to see somebody lie with a straight face? Watch Kashkari's 60 Minutes interview from March 23. During the interview, Kashkari mentions printed currency on a number of occasions, saying things that suggest physical cash will be available through banks and ATMs. This is a patent untruth. There are only $1.7 trillion physical Federal Reserve Notes in circulation, enough for just more than $5,000 for every American citizen, an impossibility, since much of the printed bills circulate overseas.



Here's another bit of wisdom from a former Fed Chairman:

"And higher stock prices will boost consumer wealth and help increase confidence, which can also spur spending. Increased spending will lead to higher incomes and profits that, in a virtuous circle, will further support economic expansion."

― Ben Bernanke (2010)

Kashkari's ravings aside, the Fed probably couldn't print enough actual cash - besides it being the job of the US Treasury Department - to satisfy the ongoing needs of American business. However, via the brilliance of underfunding the Main Street bailout for small business (the so-called "forgivable" loans) in the bill recently passed by congress and signed by President Trump, when the effects of lockdowns and business closures are finally assessed, there won't be that many small businesses to fund. Current estimates suggest there is only enough money in the $349 billion allocated to finance the payrolls of less than half the small businesses in America for six to eight weeks.

In a recent survey by Lending Tree 64% of small business owners who applied for emergency funding reported that they were having trouble getting approved.

Meanwhile, employers' doors are closed in counties where there have been only a handful of coronavirus cases reported. Its overkill on a grand scale, and what's being killed is small business. While many owner-operated restaurants have been forced to shut down, the Burger Kings, McDonalds, and Dominos of the world have remained open, offering deliver or drive-through service and advertising heavily. Americans face a future of limited choice, and those choices aren't very appealing.

With the president and governors of various states arguing over who gets to call the shots on re-opening the economy, small businesses are going broke and out of business permanently. The closed up storefronts that have been a familiar sight in small towns across America for the past decade are soon to become a feature of cities and once-healthy suburbs. The commercial real estate market is going to collapse along with residential real estate. Thinking that the process of foreclosure in the aftermath of the sub-prime crisis was a nightmare, what happens in real estate and property rental markets over the next few years is going to be mind-blowing.

The coronavirus is real. Government response, complete with lockdowns, travel restrictions, violations of civil rights, business closures, and assorted "stimulus" packages, is a hoax, put in place to cover up the massive bailout needed to keep Wall Street's stock market above water. Stocks clambered down more then 20% in March only to rise from those losses in April, while the entire country is virtually out of business. This is the kind of government Americans get for electing people who serve only themselves and their campaign contributors.

Some day, Americans will be going back to work. Not all of them, maybe not even half of them. The current condition is only the beginning of a depression that will rival the 1920s. The coronavirus may kill 60,000, but the "cure" will kill millions.

At the Close, Tuesday, April 14, 2020:
Dow Jones Industrial Average: 23,949.76, +558.99 (+2.39%)
NASDAQ: 8,515.74, +323.32 (+3.95%)
S&P 500: 2,846.06, +84.43 (+3.06%)
NYSE: 11,172.20, +222.67 (+2.03%)

Stocks Fail to Extend Rally; Oil Flat; JP Morgan, Wells Fargo Declare 1Q Earnings

Last week's furious rally failed to extend over into Monday's trading as news flow trended negatively.

Given the number of new cases and deaths worldwide from COVID-19, the pain and suffering of millions around the world out of work and isolated in their homes, it's surprising that Wall Street can even muster enough capital for any kind of rally.

Conditions have not changed from the onset of COVID-19's spread, only the Federal Reserve's commitment to suspend reality and boost stocks through various band-aids and stop gap measures has. The only reason stocks managed to gain any ground last week was due to trillions of dollars pumped into the hands of primary dealers via repos, debt purchases, foreign debt purchases, and promises from various Fed presidents to keep the currency spigots wide open.

The lunacy of these efforts is astounding. Desperate to save face and completely devoid of any tools to bring the economy back to their stated mandates of full employment and no inflation, the Fed has expanded its own balance sheet to the point at which it needed funding from the US treasury, a backhanded bailout of the central bank, using some $400-500 billion from Treasury's Exchange Stabilization Fund.

Oil prices barely budged after the hurried agreement by OPEC+ and other countries will slash production by as much as 10 million barrels a day, roughly 10 percent of global supply. WTI crude closed Monday at $22.41. Efforts to raise the price of oil worldwide were seen as mostly a publicity stunt, as the problem is more a lack of demand than of oversupply. Producers would be best served to stop pumping as storage facilities are near capacity already and the lockdowns in major countries remain weeks away.

Treasury yields rose on the long end, with the 30-year bond at 1.39% and the 10-year note rising three basis points to 0.76%. The curve steepened slightly to 122 basis points.

JP Morgan Chase (JPM) announced first quarter earnings prior to the opening bell Tuesday that were the lowest since 2013, warned of a fairly severe recession ahead and set aside $8.29 billion for bad loans, the biggest provision in at least a decade and more than double what some analysts expected.

The bank reported EPS of 78 cents on revenue of $29.07 billion. Net interest income was flat at $14.5 billion.

Wells Fargo (WFC) reported EPS of 1 cent per share on revenue of $17.7 billion as a $3.1 billion reserve build accounted for 56 cents per share and a $950 million impairment of securities accounted for 17 cents a share. Net interest income fell 8% to $11.3 billion. This bank is essentially insolvent, as is the Federal Reserve, the ECB, BOJ, PBOC and hundreds of other money center banks.

Other money center banks also report this week. Wednesday Bank of America, Goldman Sachs, and Citigroup release their reports. Morgan Stanley’s announcement is scheduled for Thursday.

(Reuters) - Johnson & Johnson on Tuesday beat analysts' estimates for first-quarter profit on higher sales of its cancer drugs and consumer products including Tylenol, while slashing its full-year forecast due to the coronavirus shutdowns.

Shares of the company, which raised its dividend by 6.3% to $1.01 per share, rose 3% to $144 in trading before the bell.

The company now expects 2020 adjusted earnings per share of $7.50 to $7.90, compared with its prior estimate of $8.95 to $9.10.

Gold and silver posted modest gains on the day. In case anyone was skeptical over Money Daily's call for $100 silver and a 16:1 gold:silver ratio in Sunday's Weekend Wrap (below), perhaps a gander at Mike Maloney's call for $700 silver a few years ago at goldsilver.com, may be in order:



At the Close, Monday, April 13, 2020:
Dow Jones Industrial Average: 23,390.77, -328.60 (-1.39%)
NASDAQ: 8,192.42, +38.85 (+0.48%)
S&P 500: 2,761.63, -28.19 (-1.01%)
NYSE: 10,949.53, -187.08 (-1.68%)

WEEKEND WRAP: Stocks: Best Week Since 1938; Unemployment Hits 16.8 Million; The Case for $100 Silver

Another tumultuous week concluded early with Wall Street ending the workweek a day short for observance of Good Friday.

For a four-day week, there was certainly no shortage of eventful, breaking news stories, something for everybody.

More than six million Americans signed up for unemployment benefits, boosting the number of fresh applications to nearly 17 million in the last three weeks, more than 10% of the US labor force (157 million).

Stocks staged a dramatic rally, posting the best weekly gains since 1938, as the Federal Reserve launched another volley into the market, this time a $2.3 trillion directive aimed at buying municipal bonds as well as expanding a credit backstop for new debt issued by highly rated firms to include so-called “fallen angels” - companies that were investment grade in mid-March but have subsequently been downgraded from BBB to -BB.

In other words, the Fed is helping out companies which made bad credit decisions. Average Americans should be so lucky. No word was forthcoming from banks and credit card companies on a repayment moratorium for unemployed workers or stressed-out businesses. Some are offering some forms of forbearance, but debtors have to contact the issuer and ask for help. Like the so-called PPP (Payment Protection Program) that is offering loans to small businesses, the major banks - the same ones who were bailed out in 2008-09 - are not going out of their way to help people.

...thus, Americans are staying home and boozing more.

All 50 states are now under declared emergencies for the first time in US history and the national guard has been called out to at least 19 states to aid in coronavirus mitigation and control efforts.

OPEC+ countries agreed on Sunday for cumulative production cuts of 9.7 million barrel a day after Mexico agreed to a compromise. Though it's a record slowdown, crimping supply is unlikely to have any lasting effect on the demand crunch caused by so many countries now on varying degrees of lockdown.

Brent crude was around $32 a barrel as of Friday while the U.S. benchmark West Texas crude closed under $23.

Treasury yields improved over the course of the week with all maturities gaining. The 30-year finished at 1.35% after closing out the prior week at 1.24%. The biggest gains were in the shortest maturities, with 2-month bills topping all, gaining 16 basis points, from 0.11 to 0.27%. The 10-year note improved from 0.62 to 0.73%. Overall curve structure remained flat, a mere 115 basis points end-to-end.

Gold tested seven-year highs, closing at $1685.60 in New York Thursday. Silver also gained, ending at 15.40 per ounce, but that hardly tells the story for the physical market for both precious metals. Premiums are extreme and delivery times are out 30-45 days with many dealers imposing minimums. See the special section below on the case for $100 silver.

Happy Easter!

At the Close, Thursday, April 9, 2020:
Dow Jones Industrial Average: 23,719.37, +285.77 (+1.22%)
NASDAQ: 8,153.58, +62.68 (+0.77%)
S&P 500: 2,789.82, +39.84 (+1.45%)
NYSE: 11,136.61, +234.01 (+2.15%)

For the Week:
Dow: +2666.84 (+12.67%)
NASDAQ: +780.49 (+10.59)
S&P 500: +301.17 (+12.10%)
NYSE: +1255.98 (+12.71%)

The Case for $100 Silver

Silver, which has been mercilessly suppressed by central banks since 1873 (see: "The Crime of '73" here, here, here, and the chart at right) when they essentially bankrupted most of rural America, a new valuation system must be considered because the current one only benefits bankers who hate competition.

Click for larger image

This proposal is to tie silver to gold at the long-established 16:1 ratio. It's only fair, after decades of manipulation to where the ratio is an absurd 100:1 or higher presently. It's often been said that gold is the money of kings, silver the money of gentlemen. As an enlightened - albeit suppressed group - gentlemen investors in silver should take the initiative and buy up every available ounce from dealers at today's prevailing prices, while agreeing on the new standard, throwing the silver investment world into absolute chaos.

The only place that has reliable prices for silver currently is eBay, where the majority of sellers (and buyers) are regular people, small businesses, or separate entities of the dealers themselves (this was explained to me by people at Scottsdale Mint). The most recent sale prices on eBay are presented below:

Type	Low	High	Avg.	Median	Per Oz
1 oz coin	21.50	33.95	26.77	26.95	26.77
1 oz bar	24.99	35.83	29.01	29.38	29.01
10 oz coin	217.50	325.00	252.21	247.49	25.22
10 oz bar	198.00	342.00	232.13	216.50	23.21
100 oz bar	1929.00	2150.00	2005.22	1981.47	20.05

Average per ounce all types: 24.85

Obviously, these are much higher than what the dealers are offering, but the tradeoff is guaranteed fast delivery (1-3 days standard), versus dealers taking advance orders, imposing minimums, and openly stating that silver deliveries are 30-45 days from date of cleared purchase.

Those quote prices are from actual sales, and available to the general public, which is as it should be. If players in the market want to continue to quote the theft prices in the futures market, let them play with their paper. Nobody stands for delivery at the COMEX except JP Morgan (per Ted Butler), which has control of the market with their huge short book and horde of physical.

There is a bit of a problem making JP Morgan filthy rich via the pegging scheme, but those are the breaks.
When the dealers eventually come on board silver will once again stand aside gold as the preferred money of the common man. Everybody will want to own some and it will still be reasonably priced at... here it comes...
based on today's gold price of $1685.60 (and when that breaks loose, expect $4000 gold)...

$105.35 the ounce.

Reprice all your silver at a 16:1 ratio with gold. Do it now.

Why allow central banks and market scammers (cough...JP Morgan... cough) the privilege of setting prices when it's obvious they aren't very good at it, long-term or that they set prices to benefit themselves and allies in the price-rigging scheme?

If all holders of silver reprice at a 16:1 ratio to gold and refuse to sell unless at that price or very close to it, who would complain and how loudly?

The COMEX, naturally, and all the participants in the futures and spot frauds. Let them complain. We counter that they are only trading paper. Nobody stands for delivery.

Individual holders of sliver are just that, INDIVIDUALS. Many of them have plenty of gold as well. If silver is repriced at 16:1 gold, that will set off a firestorm.

As for the dealers and their 30-45 day delivery times, well, I threatened a well-known online dealer, with whom I have a long-standing relationship, with legal action concerning my purchase of 10-ounce bars on March 16. Funny thing, the day after I got a response to my email, which made no mention of my proposed legal action, my order shipped. The dealers are arbitrageurs in the grand scheme. Not much better than the banks or the paper exchanges.

If a few of them latch onto the idea that they can price their silver at (currently) $105.35 an ounce, that will shake up the PM universe. $105.35 is a lot better than $15 and change.

The current gold:silver ratio is a farce. The people who think gold is manipulated fail to see the bigger picture. Silver is affordable to massive amounts of people and could serve as an alternate currency and real money.

Let's go for it. Don't sell any silver unless somebody will pay you its real worth. In the meantime, keep buying at bargain basement prices all the way up. It will eventually happen if enough people stick with it.

You're welcome.

Rick Gagliano
dtmagazine.com

Video highlights:

Here is GATA Chairman Bill Murphy, interviewed by Robert Kientz for GoldSilverPros.com. Murphy asserts that the banks suppressing gold and silver prices have run out of metal and the futures market has broken as its increasing attempts at deception fail. 16 minutes of excellent back-and-forth:



In the same vein, here's James Rickards giving a speech in Vancouver, 2018, titled Is the Future of Money Gold, Crypto or Fiat? Fascinating stuff from one of the world's leading experts.



Finally, this must see video from the Epoch Times, the first documentary movie on the origin of CCP virus, Tracking Down the Origin of the Wuhan Coronavirus. Please take note that Downtown Magazine nor Money Daily has never endorsed any video or any article as "must see" or "must read." This is the exception.

US Federal Government Disrespects Its People; $2 Trillion To Wall Street While Citizens Wait for Checks

At 8:30 am ET Thursday morning, April 9, 2020, the Labor Department announced that 6.6 million people applied for unemployment benefits last week. That's in addition to the nearly 10 million who applied for benefits the prior two weeks.

Have you received your $1200 check from the government yet?

Didn't think so. You are aware that Wall Street had access to $2 trillion weeks ago, right?

That's the number TWO (2) with twelve zeroes behind it. Like this: $2,000,000,000,000.

Bear in mind, the corporate money is coming to corporations via the Federal Reserve, which is not part of the federal government. It is and always has been a private bank, so there's really nothing "federal" about it. As far as the "reserve" portion of their name, they have no money in reserve. They have a balance sheet of nearly $6 trillion, all in various bonds or notes or obligations, otherwise known as debt. Much of it is not worth the paper its printed on or the electrons holding it in cyberspace.

There's no "reserves" at the Federal Reserve. They whip up currency out of thin air. A few keystrokes on their computer and viola! currency at their pleasure. The currency is represented by Federal Reserve Notes, or those pieces of paper some people carry around with pictures of dead presidents on them. Those are the ones, fives, 10s, 20s, 50s and 100-dollar bills floating around in the economy. There is only $1.75 trillion in actual printed currency according to the Federal Reserve. That's a little less than $6000 for every man, woman, and child in America.

The rest of the currency is in electronic form. The currency in your bank account is not really there. Try going to a bank branch and asking for $40,000 in cash, even if you have $100,000 in your account. First, you'd have to fill out IRS form 8300, because any transaction of $10,000 or more, the federal government wants to know about it. They think you might be a drug dealer, human trafficker, money launderer, or maybe a terrorist. It's all part of the Bank Secrecy Act, officially known as the Currency and Foreign Transactions Reporting Act. Then, after you've filled out the form, the bank's branch manager will likely tell you that they don't have that much money on hand. After that, you might have to come back on a later date to get some of it, make multiple trips, and go through a lot of hassle to get your hands on your currency.

This seems an appropriate place to explain the difference between money and currency. Here's Mike Maloney (an expert on the subject) to explain in less than three minutes:



The great financier, J.P. Morgan, put it in even simpler terms: Gold is money. Everything else is credit.

With that out of the way, have you received your $1200 yet?

No. Of course not. But Wall Street has already gotten theirs, and probably already spent it too. The stock market has been mostly up lately, the Dow Jones Industrial Average having risen from a close of 18,591.93 on March 23 to close at 23,433.57 Wednesday.

On March 17, Treasury Secretary Steven Mnuchin said President Trump would like to get money into the hands of people within two weeks. That was more than three weeks ago. Now, Mnuchin says the first direct deposits will be going out some time next week.

In other words, continue to wait. The government will be here to help in moments, er, days, er, weeks, maybe.

While Wall Street is open for business as usual, millions of Americans - roughly three quarters of the country - is under some form of stay-at-home or lockdown restriction. Ordinary people can't go to work, send their kids to school (they're closed), or venture beyond the boundaries of their own homes without some express, immediate need, like getting groceries, or picking up a prescription drug.

It's a shame. It's also likely unconstitutional. Americans are supposed to have the right to freely assemble. It's in the Bill of Rights, the First Amendment:

Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances.

So, not only does the federal government not want you to have any money, they also don't want you going anywhere or associating with other citizens. Because of COVID-19, the government has "suggested" people congregate at distances of six feet apart. Many states have outlawed meetings or congregations of 10 or more people, some, five or more. They don't want you to get together with your fellow citizens, either.

As you wait for your money from the government, ask yourself if $1200 is worth having your first amendment rights taken away. As with anything else that sounds too good to be true, like free money from the government, there are strings attached.

And, while you're pondering that, how about those small business loans that are supposed to help businesses that have been forced to close so that the coronavirus doesn't spread. Those non-essential businesses are getting the run-around from the very same banks (JP Morgan Chase, Citi, Bank of America, Wells Fargo) that were bailed out in 2009, continued to get favors from the Federal Reserve and the federal government since then, and have been getting oodles of cash over the past six months, even before the COVID-19 crisis.

Those loans are full of boondoggles and conditions that limit how much a business qualifies for and what they have to do in order to receive a loan and more conditions for loan forgiveness. It's likely that most small businesses would be better off not taking the loans, toughing it out, filing for reorganization under bankruptcy laws and moving forward without inept government assistance.

The American public is being conned and abused by the very people they voted into office along with the media, the banks, and the Federal Reserve. State and local governments are only marginally less disrespectful. It all stinks to high heaven.

They don't respect you. They don't care about you. They want to control you. That should be obvious to everybody by now.

At the Close, Wednesday, April 8, 2020:
Dow Jones Industrial Average: 23,433.57, +779.71 (+3.44%)
NASDAQ: 8,090.90, +203.64 (+2.58%)
S&P 500: 2,749.98, +90.57 (+3.41%)
NYSE: 10,902.59, +365.54 (+3.47%)