In the blink of an eye, H1 of 2024 is behind us, and as we march into summer, it's clear that the entire world is hanging on the edge of what will happen in the United States come November. However, given Biden’s less-than-stellar performance, we wouldn't be surprised to see some kind of ambush when the conventions get underway, later in July.
Europe and the Middle East are still buzzing with activity, making it a crucial period to stay informed as to what chaos is unfolding.
This month wrapped up with markets showing gains for the year, and significant metals took a breather after speculators pumped their bets into the futures contracts to get in on the action.
As we dive into H2 of 2024, the entire global ecosystem will be monitoring this closely, and the abundance of money-making opportunities will continue to emerge. We’re here to provide you with our insights on what’s happening and how to position yourself in this market.
If this is your first time reading our macro report, welcome aboard!
We're here to take you on a thrilling deep dive into the realms of geopolitics, culture, and economics, all while uncovering money-making opportunities.
Let's dive in!
Macro Headliners
written by Nic A. Tartaglia
POLITICS
USA
Let’s start off with the most regressive policy being pushed forth as a consequence of the political globalist government that is now The United States Government. There have been talks and senate hearings about the difficulty and lack of new recruitment into the military. How shocking when an Anti-American and weakening culture is permeating the American civilization.
Let us look at what is happening in the western world, not only in America but also becoming a forefront issue in England and France.
Conscription of all men between 18-26 automatically enrolled in the selective service system planned by the House committee which they passed on June 15th. Under current U.S. law, anyone who was born a man and is currently between the ages of 18 and 26 is eligible and required to register for the draft. Once you turn 26, you are out of the draft. The question becomes, would the American Government get more aggressive on this issue and eventually trigger the draft? An act of Congress would be needed to trigger the draft. But the list of draft candidates is automatically being registered for all men, and potentially all women. The next step, under a state of “emergency” which governments love to trigger would then lead to those being registered into forced draft.
The Senate Armed Services Committee intends to require women also to register for selective service as part of the FY25 National Defense Authorization Act.
Once again, under the disguise of an “emergency”, the sovereignty of American citizens will be lost and subject to the tyranny of their Government to use their life and body, to its whims in military conflict. Your body is your property, and it is the foundation of your individual sovereignty. Being forced to go fight a conflict defies the foundation of sovereignty.
The Pentagon confirmed the complete withdrawal of all American personnel from Niger by September 15, 2024 as agreed upon in press briefing. They mention the concern of the escalating tension at the Lebanon border as the tension between Israel and Hezbollah escalates.
We are seeing this rise in militarization as Europe, the middle east and Asia see growing tension with no end in sight.
President Joe Biden says that he will take on 2 men he has established as threats to democracy - Putin and Trump as he marked off the 80th anniversary of D-Day in Normandy.
Don’t forget 2 things, 1) USA is not meant to be a democracy but rather a Constitutional Republic and 2) Trump is the other Presidential Candidate challenging Biden for this year's 2024 election. And the democrats are seeking to make Trump equate to what they call Putin, a ‘war criminal’. Meanwhile half the American population supports Trump.
Now let's look at this anti-Trump energy that Democrats keep engaging in while pretending they are the heroes because they keep spending money, while fundamentally nothing is improving.
On MSNBC, Karine Jean-Pierre claimed that the reason there is so much chaos in America is because of what Donald Trump did in his administration. Always scapegoating and blaming everyone else. This is the game of politics where honor and values mean nothing. It is always other people’s fault. It’s like watching high school kids fight, blaming others for their ignorance/incompetence.
Trump's conviction, which has been criticized by many even those on the democrat side seen on the news, like Andrew Cuomo, the former New York Mayor and former Attorney General. But the public response has been overwhelming in the sense of raising $ compared to Biden’s success. Trump campaign has raised $141 million since the guilty verdict in New York late May.
On the other side of the presidential battle, a jury finds Hunter Biden, Joe Biden’s son guilty on all 3 counts in a federal gun trial. Hunter Biden also faces federal tax charges in Los Angeles for allegedly failing to pay at least $1.4 million in taxes on income from foreign businesses. He has pleaded not guilty to those charges. That case is set to go to trial in September.
In other internal conflicts within the American Government, the Republican controlled US House of Representatives voted in favor to hold Attorney General Merrick Garland in contempt for refusing to turn over audio recordings of the special counsel’s interview held with President Joe Biden. They want more than the transcripts.
Trump Campaign Promises
Trump is now floating around the idea of eliminating income taxes and replacing them with tariffs on imports. He is even promising to shut down the Federal Department of Education and to entirely remove the Federal Government from the educational system of the United States. It would become at most, a State level decision.
Presidential Debate
All this led into what the end of June was holding for the world, the Presidential debate between the 2 oldest American Candidates: Biden and Trump.
Watch here→
Trump won and you can see the truth of that with the fall out reactions on MSNBC and CNN with full blown panic from democrats on Biden’s performance and many suggesting Biden’s position is at risk or at least that it should be at risk.
But hey, some want to use Biden has a cold and wasn’t feeling good as a means to justify and sugar coat what many of us have already known, Biden is not mentally fit for the most powerful position of the modern day.
Intervention & Manipulation
Kamala Harris announces that medical debt can no longer be included on your credit score, which means medical debt will no longer impact a person's ability to get a car loan, home mortgage.
In San Francisco, Lawmakers have proposed a bill that would make it illegal to close and leave without a 6 month notice in advance and must seek a replacement to take over their location.
Mayor Brandon Johnson blames Chicago’s problems on systemic racism and announces $500,000 that will go towards government educated academics who spew more systemic racism theories. Basically a reparations task force. Bureaucrats never want to look inwards at the consequences of their actions and frail delusional ideologies and intentions.
The Federal Government implements a water curtailment on 500,000 acres of farmland in Idaho. This is being done to convert the land into a source of renewable energy to provide homes in California, not even in the state of Idaho.
Covid Investigations
Fauci under fire at senate hearing on Covid Origins response.
Watch here →
Covid-19 lab leak theory ‘cover-up’ probed in Senate Homeland Security Committee
As USA and France are made to leave Niger behind, Russia’s Rosatom begins talks with Niger’s military authorities to potentially acquire uranium assets currently held by a French state-controlled company. The West has frozen their assets that are in the Western world, and so why would Putin not seek to absorb the Western assets where the West does not have a foot hold.
Putin on the matter of Nuclear weapon usage states:
“US is the only country that used nuclear weapons on Japan”
“The West thinks Russia will never use such weapons but Russia can use all means to defend itself.”
Putin warns the US that it would supply the foes of America with long range weapons to strike Western targets if NATO continues to allow Ukraine to use their weapons against Russian territory.
“Profound changes are now taking place on the world stage. More and more countries are taking a course towards strengthening national sovereignty.
“Artificial geopolitical associations are being forced onto the world, and restricted-access blocs are being created. We see this happening in Europe, where an aggressive policy of NATO expansion has been pursued for decades, in the Asia-Pacific region and in South Asia, where they are trying to destroy an open and inclusive cooperation architecture. A bloc-based approach, if we call a spade a spade, limits individual states’ rights and restricts their freedom to develop along their own path, attempting to drive them into a “cage” of obligations. In a way, this obviously amounts to the dispossession of part of their sovereignty, often followed by the enforcement of their own solutions not only in the area of security but also in other areas, primarily the economy, which is happening now in relations between the United States and Europe. There is no need to explain this now. If necessary, we can talk about it in detail during the discussion after my opening remarks.
To attain these goals, they try to replace international law with a “rules-based order,” whatever that means. It is not clear what rules these are and who invented them. It is just rubbish, but they are trying to plant this idea in the minds of millions of people. “You must live according to the rules.” What rules?
And actually, if I may, our Western “colleagues,” especially those from the United States, don’t just arbitrarily set these rules, they teach others how to follow them, and how others should behave overall. All of this is done and expressed in a blatantly ill-mannered and pushy way. This is another manifestation of colonial mentality. All the time we hear, “you must,” “you are obligated,” “we are seriously warning you.”
Who are you to do that? What right do you have to warn others? This is just amazing. Maybe those who say all this should get rid of their arrogance and stop behaving in such a way towards the global community that perfectly knows its objectives and interests, and should drop this colonial-era thinking? I want to tell them sometimes: wake up, this era has long gone and will never return.”
“Naturally, when such massive, extremely complex processes are underway, it is hard or even impossible to predict the result. Regardless of what we do, life will make adjustments. But, at any rate, we need to realize what we are striving for, what we want to achieve. In Russia, there is such an understanding.
FIRST, We want to live in an open, interconnected world, where no one will ever try to put artificial barriers in the way of people’s communication, their creative fulfillment and prosperity. We need to strive to create an obstacle-free environment.
SECOND. We want the world’s diversity to be preserved and serve as the foundation for universal development. It should be prohibited to impose on any country or people how they should live and how they should feel. Only true cultural and civilizational diversity will ensure peoples’ wellbeing and a balance of interests.
THIRD, Russia stands for maximum representation. No one has the right or ability to rule the world for others and on behalf of others. The world of the future is a world of collective decisions made at the levels where they are most effective, and by those who are truly capable of making a significant contribution to resolving a specific problem. It is not that one person decides for everyone, and not even everyone decides everything, but those who are directly affected by this or that issue must agree on what to do and how to do it.
FOURTH, Russia stands for universal security and lasting peace built on respect for the interests of everyone: from large countries to small ones. The main thing is to free international relations from the bloc approach and the legacy of the colonial era and the Cold War. We have been saying for decades that security is indivisible, and that it is impossible to ensure the security of some at the expense of the security of others. Indeed, harmony in this area can be achieved. You just need to put aside haughtiness and arrogance and stop looking at others as second-class partners or outcasts or savages.
FIFTH, we stand for justice for all. The era of exploitation, as I said twice, is in the past. Countries and peoples are clearly aware of their interests and capabilities and are ready to rely on themselves; and this increases their strength. Everyone should be given access to the benefits of today’s world, and attempts to limit it for any country or people should be considered an act of aggression.
SIXTH, we stand for equality, for the diverse potential of all countries. This is a completely objective factor. But no less objective is the fact that no one is ready to take orders anymore or make their interests and needs dependent on anyone, above all on the rich and more powerful.
This is not just the natural state of the international community, but the quintessence of all of humankind’s historical experience.”
Cuba Standoff Russia VS USA Russia sends 4 warships to Cuba, 90 miles off the coast of Florida including a nuclear powered submarine and a frigate equipped with hyper sonic missiles. The dance of show of force is clearly escalating. The US responds by sending their own nuclear powered submarine to dock in Guantanamo Bay, Cuba. Even one of Canada’s navy ships was sent to Cuba in demonstration of navy capabilities and commitment to open waters.
Putin makes first public ceasefire proposal to Ukraine:
“Ukrainian troops should be completely withdrawn from Donetsk and Luhansk, Kherson and Zaporizhzhia regions…. And also officially will notify about the rejection of plans to join NATO on our part immediately, literally the same minute, an order will be given to cease fire and start negotiations.”
Ukrainian Presidential adviser Mykhailo Podolyak called the proposal a "complete sham" and "offensive to common sense". Later on Friday, President Zelensky told Italy's Sky TG24 television: "These messages are ultimatum messages. It's the same thing Hitler did, when he said 'give me a part of Czechoslovakia and it'll end here'."
US Defense Secretary Lloyd Austin also dismissed the Russian demands, saying: "Putin has illegally occupied sovereign Ukrainian territory. He is not in any position to dictate to Ukraine what they must do to bring about peace."
NATO Secretary-General Jens Stoltenberg said Mr Putin's proposal was "not made in good faith".
Russia’s State Duma Deputy Speaker said on July 16th: “This was the last peace proposal from our side. The next one will be a demand for unconditional surrender.”
Statements by Other European Leaders on the Russian - Ukraine Conflict
“I believe that we are getting close to the last days of possible rethinking and reconsidering in Ukraine. If those big powers don’t do anything in a short period of time, yes, I’m pretty much certain that we’ll face a real disaster.”
“If you bet on the fact that someone is bluffing, it means that you have no better cards. That you just believe that the other side has weaker cards. But you don’t know and you didn’t see his or their cards….”
“Everybody’s speaking only about war. Nobody wants to reach peace. Nobody speaks about peace. Peace is almost a forbidden word. Please notice this! Because they say we have to win in order to secure a future peace, but nobody’s speaking about a peace… you have to have the other side on the table as well.”
“In today’s Europe, they all act like big heroes, but they do not say to their people that they will pay a very big price. And speaking about it, you and all the media should do absolutely everything in order to stop any kind of warmongering behavior and everything. … I do understand why Macron is insisting on this. … But on the other hand, before saying that, before doing that … they should all try … reaching any kind of truce, any kind of ceasefire, and then to negotiate for 10, 20, 30, 50 years—doesn’t matter. It’s better than a day of bitter fight, which we face today.”
“NATO will carry out its mission in Ukraine, but Hungary will not participate in them:
“It appears that the Western world, led by the Americans, wants to defeat Russia, with the Germans playing the role of extras. This is hopeless, and one has to pay such a price for it that it is not worth it.”
“I can pull the emergency brake. The train will stop, and we Hungarians will get off this train… Only the election of Donald Trump can stop the war train.”
As The United States and Ukraine’s Zelensky get deeper and deeper into their relationship as we saw this June where Biden and Zelensky signed a new security agreement committing the United States to financially supporting Ukraine for the next 10 years. Some of the dark truth of this western support fighting for “democracy” as we like to say has produced some questionable actions by governments, and in this case, I am talking about the Ukrainian Government. I’ve become recently aware of videos surfacing on social of Ukrainian military ‘recruitment officials’ kidnapping age fighting men to force them into the conscription to be called up to fight Russia. The Ukrainians have lost a lot of their men in the war. USA’s war using Ukrainian men. That is a proxy war.
Here is a video you can watch on this issue. And if you have social media, not hard to find many more videos. —>
On the actual conflict side, Ukraine struck Crimea with US supplied ATACMS (Army Tactical Missile System) equipped with cluster warheads where at least 5 people died and over 100 were injured when one of them from the debris of one of the missiles. Russia then blames the USA, and the USA rejects the accusation. Back and forth they go as usual.
Israel’s President Netanyahu has decided to disband Israel’s 6 member war cabinet which was said to have been created to be responsible for key decisions relating to the Israel - Hamas war.
Israeli Strikes
The Israeli military launched an airstrike on a Hamas compound embedded in a school complex in Gaza.
Israeli airstrike kills 2 in southern Lebanon.
An Israel strike on South Lebanon killed a senior Hezbollah commander and 3 fighters.
Houthis & Hezbollah
Yemen’s Houthis continue to target and disrupt flow in the Red Sea.
Hezbollah tries to down Israel fighter jets with anti-aircraft missiles in the first recording attempt.
Hezbollah then rains down 160 rockets on Northern Israel.
“With Israel, he warns that if their conflict escalates into war, the enemy Israel will have to face is an enemy unlike the past. He claimed that Hezbollah has a large stockpile of drones and a surplus of fighters and new weapons yet to be revealed. And that they have been manufacturing their own weapons in Lebanon as well. Hezbollah released a 9 -minute video it said it had shot with an Iranian made drone showing high resolution images of Israeli Port Haifa and other specific buildings and vessels, as well as other potential target cities in Israel. Nasrallah even bragged that the drone had slipped through Israel’s air defenses.”
With Cyprus, Nasrallah threatened them saying the EU member was hosting the Israeli military and allowing for their Air Force to be trained in Cyprus to use its airports. “If Cyprus opens its airports to Israel warplanes, we will attack Cyprus too.”
On the USA side of assaults, The US military claims it has killed a senior ISIS official in Syria with an airstrike.
“On June 16, US Central Command conducted an airstrike in Syria, killing Usamah Jamal Muhammad Ibrahim al-Janabi, a senior ISIS official and facilitator,” the post from US Central Command said.
Lebanon
The US Embassy in Beirut was attacked by gunmen. The shooter is supposedly a Syrian national who was injured and taken into custody.
Both Kuwait and Saudi Arabia have called on their citizens to make plans to leave Lebanon, and to avoid any travel to Lebanon.
France
On the other hand, Macron of France, a NATO member, claimed to be seeking to put together a coalition in the coming days to send military instructors to Ukraine.
Macron announces the dissolution of the National Assembly and calls early elections after the crushing defeat in the European elections.
Marine La Pen prepares to become President with the pendulum swinging to her side with a claim that radical liberals, illegals and militant muslims must be expelled.
Turkey
Turkish President Erdogan signed a decree to stop following the Treaty on Conventional Armed Forces in Europe. This treaty, signed in 1990 as the Soviet Union was falling apart, set limits on military equipment like tanks, artillery, armored vehicles, combat aircrafts and attack helicopters in Europe to lower the risk of conflict, Russia left the treaty last November 2023. Supposedly the actions of US, UK and Germany also demonstrate that even some NATO members are also not following the Treaty.
Turkey will raise tariffs on all vehicles purchased from China by 40% in an attempt to curb imports.
Rishi Sunak suggests banning driving licenses and access to finance for those who don't want to offer themselves for national service.
Noticing this trend with the so called “morally superior” western Governments of wanting to “force” their citizens into dying for their political theatrics? I put the word FORCE in quotes because anything they do to manipulate, coerce or penalize you if you don’t do things their way is not the same thing as being forced as per their logic. Remember covid, it was all a choice. No force was used…………..
Canada
Trudeau created fear for those on the left with insane gaslighting and propaganda at a news conference where he stated:
“We have seen around the world a rise in populist right wing forces in about every democracy that we've seen and it is of concern to see political parties instrumentalize anger, fear, division, anxiety. My approach has always been to respond to it, to understand it, and to look to solve it. To roll up our sleeves, work hard and with ambition for this country and its future. I continue to be convinced that Canadians are thoughtful about the challenges we are facing and ready to see them solved, rather than allow themselves to have their anger amplified without any solutions offered.” Watch Here
This man only knows how to lie and ignore the hypocrisy of his words. This man is hated by half of the country for doing exactly what he accuses of his political opponents who have only gained momentum precisely because Trudeau’s so called “solutions” keep making things worse and bringing Canada in the wrong direction.
Here is another insane waste of Canadian Government time and resources which will both cover the cost itself through the scheme, but also give enough back to those the government deem worthy, benefiting from their own form of protectionism/welfarism.
Major online streaming services operating in Canada will be required to contribute 5% of their Canadian revenues (notice how it isn’t their net Canadian profits but rather their topline numbers). The claim by the Canadian government and the telecom regulator is that the support is for a domestic broadcasting system. Basically this will be used to ‘invest’ or ‘subsidize’ Canadian organizations like the CBC (Canadian broadcasting channel) who are collapsing and unable to survive without government support who have become nothing more than arms of the government engine, putting out government narratives.
Canadian Federal Liberals also pledge $750 million to Quebec to help handle the surge of temporary immigrants. At the same time, Quebec adopts a law to fine people who intimidate and/or harass politicians. This is such ambiguous non sense to create an opening to go after speech that oppose bureaucrats. This country of mine is falling fast.
In a Riding for Toronto elections, Conservative candidate Don Stewart managed the win by just 590 votes over Liberal Leslie Church in an early morning upset, taking away a riding the governing Liberals have held for more than 30 years.
The Pendulum appears to be shifting away from liberals across the West. But doesn’t mean less government. Just means same amount of Government, in a new suit.
Germany
AfD became the second largest party in Germany outperforming all three members of the ruling left-green-liberal coalition in the EU elections. Germany’s self-proclaimed ‘progressive coalition’, consisting of Social Democrats, the liberal FDP and the Greens, suffered a crushing defeat at the European elections, as the parties barely managed to reach a combined share of 30%. These European elections are showing an unprecedented shift to the right, and not only in Germany.
Ireland
Malachy Steenson won the Dublin elections and is being supported by the wave of Irish citizens fed up with mass migration. As he said “the revolution has just begun… It is a fabulous result for the nationalist movement in Ireland, it is a fabulous result for the people of Ireland. “We are taking back our nation.”
The Bolivian military is sent in by top general in a coup d’etat, which is then quickly withdrawn after a new commander was immediately put in position who ordered troops to stand down. Top general Juan Jose Zuniga was arrested and the coup ended as soon as it started.
Mexico
Claudia Sheinbaum has been elected as Mexico’s first female president who is a known socialist.
Police arrest opposition leader Jameson Timba and 80 youths for holding a political gathering which authorities said was unauthorized. “Timba took over as interim leader of Citizens Coalition for Change after former leader Nelson Chamisa quit the party in January, alleging it had been hijacked by the ruling ZANU-PF party. The law requires that political parties apply for clearance with police before holding a public gathering. Sections of the law have been used in the past to clamp down on the opposition and ban political rallies.”
“Opinions have caused more ills than the plague or earthquakes on this little globe of ours.”
- Voltaire
CULTURE
Protests
Migration Crises
Massive protest by Britons against the migration crises.
In Lyon France, a massive gathering of citizens to protest Islam and the mass migration taking over. Counter pro-migration protests take place in Paris against the immigration laws by the right.
In Ireland, huge anti mass migration protests.
Counter pro-migration protests take place in Paris against the immigration laws.
Illegals marched in the streets of New York chanting to abolish ICE.
Thousands of Swedes protest against liberal media and mass migration following the murder of a Swedish father by a migrant.
The migration issue is becoming the driver of a significant political shift in Europe.
Political Shift
Mass civil unrest in France by the left as the so-called “far-right” gained significant momentum in the EU elections. The National Rally party’s political leader Marine Le pen wins at the end of June in the first round of votes followed by Macron’s party falling to third place. A second round of votes takes place July 7th to finalize the makeup of the National Assembly.
Protests erupt as Armenia nears peace deal with Azerbaijan.
“Armenian Prime Minister Nikol Pashinyan said on Wednesday that a peace treaty with Azerbaijan was close to completion, but that his country would not accept Baku's demands that it change its constitution. After Pashinyan made the comments, clashes broke out between police and demonstrators, the latest in a series of protests denouncing his policies, including the handing back of ruined villages to Azerbaijan, and demanding his resignation.” Protests erupt as Armenia nears peace deal with Azerbaijan (yahoo.com)
Palestine/Hamas
Pro-Palestine protests blocked the Philly Parade and tension escalated between both parties.
Massive pro-Palestine protests gathered in front of White House with some activists lighting off smoke bombs and flares .
Pro-Palestine protests aimed to block roads in Paris France
At McGill university's graduation ceremony, a student walks on stage protesting for Palestine and spits on the Dean and other staff members.
Do these people believe to be morally superior for disrupting their own communities for an external conflict while there are countless other problems to be faced at home?
Kenyans Reject Tax Hikes
Massive protests erupt in response to the Government's announcement of tax hikes on citizens. The protest was responded with force by the Government and eventually the President backed down from hiking taxes. Some 200 people were injured in the nationwide protests against government plans to raise $2.7 billion in additional taxes. Kenyan police are to investigate the violence that broke out with rights groups accusing security forces of using live rounds to quell the rallies.
Trump Support Growing
Crowd at UFC 302 loudly chants “FJB we want Trump”
Trump rally in Bronx sees clash with anti-trump protestors
In Texas, there was a massive crowd gathered in support of Trump and you could hear chants of “Let’s go Brandon”
Migration of Criminality - Welfarism
2 NYPD officers were shot and killed by an illegal immigrant from Venezuela.
8 foreign nationals were arrested who have ties to ISIS, in New York, Los Angeles, and Philadelphia.
There are so many other examples of stories like this. They are daily and affecting a lot of major cities, especially in majority democrat liberal communities. This is something we need to keep watching. These expanding violent behaviors in these communities are what lead to migration out by individuals and local businesses. This then leads to ridiculous policies like I referred to in the political section above, where the Government passed a bill preventing grocery stores from being able to move without a 6 month notice and a suitable grocery store replacement. You will also have the migration of violent gangs who take advantage of the border problem in America. There are already plenty of news stories beginning to surface on these issues. Google and Youtube will serve you plenty to see the endless examples.
This is the vicious negative influence from political insanities rippling and encroaching onto the market place. Keep aiming to observe what happens culturally on this front. The internal tensions will continue to blow until a boiling point arrives.
Remember, there is a difference between free immigration in a free market versus free immigration with welfarism.
LGBTQ + The Political System
San Francisco's Mayor London Breed in a press hearing complains about the lack of corporations funding pride month this year: “we got to call out all those corporations because they need to be investing in pride.”
California State Senator Scott Wiener at a pride event said: “We are always there for these kids. These are our kids.”
Maine announces it is opening up new publicly funded affordable housing for the LQBTQ identifying individuals. Talk about playing politics in favor of special interest groups while discriminating against others. Because they deserve more help from public funds more than any other individual not LGBTQ identifying? How much has American culture regressed? The People of America have totally lost control of their Governments.
The California Senate just banned schools from notifying parents if their child changes their identity and or pronoun.
I don’t even know what to say other than, they can’t win on any other means other than by regressing us by an ideological war. We’ve allowed fantasies and hysteria to drive our politics and access to what we now call MMT. Great, more insane collective ideologies + MMT, what benefit will this possibly produce?
Social Media Influencing Politics
Dr. Phil shares on his show that when his team went to share a promo video on social media about his interview with Donald Trump, Tik Tok banned their video. This is but a singular example that can be verified by Dr. Phil and his production team which he shares during one of his episodes. This is manipulation of political narratives. Sleepy and incapacitated Joe Biden on the other hand has full presence on socials. But Trump is not.
The 2024 edition of the BRICS Games began June 12 in Kazan lasting until Sunday June 23. The multisport event, the organization of which in Russia was requested by Vladimir Putin himself in May 2023, brings together 27 sports, Olympic or not, including rhythmic gymnastics, fencing, artistic swimming, judo, badminton, karate, wrestling and sambo. It should bring together in Kazan athletes from the five BRICS countries (Brazil, Russia, India, China and South Africa), plus nearly a hundred other nations.
ECONOMICS
Rate Decisions
BOC - rate cut by 25 basis points
Minister of Finance Freedland said in a press hearing about the BOC rate cut decision is a moment of praise and applause for Canadians to enjoy.
LOL what a joke Canada has become with these fairy tails.
ECB - rate cut by 25 basis points
ECB’s Rehn says rate cut will support recovery
The ECB is now warning that sanctions related to Russia could negatively impact the euro. The ECB fears the position of the Euro in terms of its share of the global foreign exchange reserves.
Wow, no surprise.
FED - leaves rates unchanged
Goldman Sach’s states: “We continue to expect a first rate cut in September and a second cut in December. Our 2024 inflation forecast is now a touch below the FOMC’s, which Chair Powell characterized as “fairly conservative”.
Federal Reserve Governor Lisa Cook stated that she believes it will be appropriate to reduce rates at some point this year.
USA
Biden awards up to $75 million in CHIPS Act grant to Entegris.
The US Secretary of Commerce in ‘60 Mins’ said “We have the most sophisticated semiconductors in the world. China doesn’t. We've out innovated China.”
“The combination of rising rates plus recessionary pressures creates real challenges for commercial real estate, from both a capital markets and fundamentals perspective,” Murray, Pimco’s head of global private commercial real estate team stated.
31 US banks pass FED’s annual stress test to see if they would be able to withstand a severe recession with enough capital to continue lending. The parameters of the stress test included a 2 year scenario where unemployment climbs to 10%, commercial real estate prices fall by 40% and the stock market plunges 55%.
JP Morgan came out after the FED’s conclusions warning that its losses should be much higher than what the FED disclosed in their analysis.
It is okay though, as Janet Yellen keeps asserting “the economy is strong”. In an interview on CNBC, Yellen said “All Americans, both those who are well off and those who are near the bottom of the income distribution, are better off now” referring the so called “great job” of Joe Biden's economic policies.
Yellen In a yahoo interview shares more on the new initiatives on housing affordability with a new Treasury program that would allocate $100 million over 3 years to help finance housing affordability.
They create the problems and they create/implement their solutions. We pay for these insane cycles of political insanities.
Employment
I’ll let these next 3 images /charts speak for themselves.
This decision by the Pakistani State shows precisely the meaning of using citizens as cattle to generate outcomes to favor their own positions. They get to borrow what will most likely be US dollars $ being given to Pakistani bureaucrats who will have received billions to manage and profit from at the cost of higher prices on energy for their own citizens.
“Strong policies are critical to address key risks and domestic structural challenges, including the need to boost the role of the private sector in economic activity, and addressing the challenge of high inflation, elevated government debt and high gross financing needs. In this context, the authorities and the mission agreed that the implementation of the government reform plans as articulated in program commitments will be key to maintain macroeconomic stability and enhance private sector-led growth.” stated Ivanna Vladkova Hollar who leads the IMF mission.
The IMF also stated late June that the US is running deficits that are too big and is weighed down by too much debt. They also warned that there will be increasing risks from the aggressive trade policies put forth by the USA government.
Global Monetary System Dynamics
The ECB warned that the world risks a new geo-political divide and urged Governments to respect international trade rules. The Western elites and officials are beginning to fracture under the weight of this realization that the West does not hold the same positions it did until just a few years ago.
The BRICS Bank President says a multipolar economy is needed to reduce the risk of global economic instability caused by problems in larger economies: “for this, we need a multipolar economy with new centers which could help withstand global shocks and crises…”
Iran says the most important goal for BRICS is the reform of the Bretton Woods system.”The US uses the dollar as a weapon, so BRICS is on a mission to change or completely dismantle the Bretton Woods system, as it is based on the dependence of countries on the US currency” states acting Iranian Foreign Minister Ali Bagheri Kani at a meeting of BRICs foreign ministers in Russia.
Josh Lipsky who runs a global CBDC tracker at the US based ATlantic Council said “The most advanced cross-border CBDC project just added a major G20 economy and the largest oil exporter in the world… This means in the coming year you can expect to see a scaling up of commodity settlement on the platform outside of dollars - something that was underway between China and Saudi Arabia but now has new technology behind it.”
Niger Green, the CEO and founder of deVere Group who is one of the world’s largest independent financial advisory and asset management companies stated back in April:
“The US dollar;s dominance is in decline as Russia and Saudi Arabia eye the Chinese Yuan for oil trades and investors may need to begin to revise their long-term investment strategies.”
“One of the most significant but under-reported outcomes of April’s three day summit between Russia’s Vladamir Putin and China’s Xi Jinping was that Putin said Russia is now in favor of using the CHinese Yuan for oil settlements.”
Are we going to ignore the clear activity of social entities (in this case States/Governments) in relation to trade and currency developments? The world’s second largest economy and the world’s largest energy exporter are in clear pursuit of monetary alternatives to diminish the dominance of the US dollar's global position. Their intentions are clear and in the open. It is not a secret anymore.
As of the end the month of May, Russia overtook USA as gas supplier to europe for first time in 2 years.
“It’s striking to see the market share of Russian gas and [liquefied natural gas] inch higher in Europe after all we have been through, and all the efforts made to decouple and de-risk energy supply,” said Tom Marzec-Manser, head of gas analytics at consultancy ICIS.
This matters to understand as a variable in this puzzle of global monetary shifts because this allows for leverage to be put forth on dictating eventually which currencies are more desired/wanted/accepted in cross-border exchanges.
People who are merely looking backwards and applying what was to the future without looking at the near past and current real time actions, we see an observable and objective exponential growth in this dilemma. It is going to change on us faster than I think people want to accept, or even be capable of contextualizing. The vibrations of global human activity individually and collectively is chaotic and that chaos is only growing. Trade and monetary security is what the majority of world nations seek. This is Game Theory and only by processing as much data on the macro developments can you see the pace of change this theme is evolving.
China’s Premier Li Qiang warned that the world could enter a destructive spiral over trade disruptions and defended his nation against overcapacity criticism.
French debt risk premium hits highest since 2012 crises.
The head Germany’s stock exchange says the country is becoming a “developing country” and called his own market “a junk shop”
Central Bank Currency Interventions
Mexico could intervene to restore “order if currency market volatility ever becomes more “extreme” claims central bank Governor Victoria Rodriguez.
Japan’s top currency official warned that authorities are ready to intervene in the currency market 24 hours a day if need be. As of June 27th, the Yen hits a 38 year low vs the US $$
Energy, Electrification and Green initiatives
Infrastructure
White House announces that the US is working with other G7 nations to invest up to $600 billion in global infrastructure by 2027.
Sri Lanka legislates to revamp power sector and to attract renewable investments
Egypt has to “temporarily” extends daily power cuts to 3 hours. Egypt has insufficient power generation capabilities for its total demand in the summer months, so they have to schedule recurring power outages in neighborhoods to spread the energy around.
Bill Gates said he’s willing to inject billions into a next–generation nuclear power plant project in Wyoming.
Ecuador experiences a blackout leaving roughly 18 million without power.
Solar Farms Are Reliable?
The world’s largest floating solar farm in India is laid to waste by a burst of bad weather. Here is a video of the incident
JP Morgan is warning that China has a near monopoly on many critical minerals
The German minister says China is indispensable to achieve climate goals.
Australia orders Chinese-linked funds to sell rare-earths stakes for so called ‘national interest’
Saudi Arabia’s mining minister plans a visit in July for potential investment opportunities in lithium. Securing necessary resources for the world's electrification and ensuring a viable transition is only just beginning to heat up. I don’t think we have even scratched the surface of how aggressive this is going to get over the next 3-5 years.
Energy Consumption
The World Energy Report released the Global Fossil fuel statistical review which showed that consumption and energy missions hit an all time high in 2023, even as fossil fuel’s share of the global energy mix decreased slightly on the year. Energy consumption can only be expected to rise the more we electrify and technologically evolve.
GOLD
Canada
Home mortgage delinquencies in Ontario surpass $1 billion for the first time ever.
Equifax warns of “severe delinquency” for mortgage balances in Ontario.
Canadian Federal Liberals announce a $1.5 billion rental protection fund which will be used by government agencies and non-profit government funded agencies to purchase properties and become landlords to Canadian tax payers. As the welfare state rises, not only will they be the cause of the socioeconomic regression, but they will also continue to spend endless amounts of $$ claiming to also be our heroes. No need to own land or anything, the government will be your masters who own everything.
Bearish bets against the Canadian $$ reach all time high.
Some Graphs produced by the Frasier Institute on Canadians and their taxes:
Capital Markets
MicroStrategy bought another $786 million bitcoin
Bitcoin Breaks below $60,000 again
June 5th Record closes
(S&P 500) @ 5,354.03 - June 17th it hit its 30th record high of the year 2024 out of 116 trading days
(NASDAQ) @ 17,187.90
(DJIA) @ 38,807.33
June 12th Record closes
NVIDIA - One June 18th it becomes the most valuable company on earth crossing a $3.33 trillion market cap. With MSFT and APL also in the $3 trillion club.
Crypto Front
SEC sues crypto firm Consensys in Federal Court in Brooklyn alleging that Consensys failed to register as a broker.
Copinbase sues the FDIC and SEC arguing an alleged concerted campaign by government institutions to de-bank crypto startups.
Dollars and Sense - What We’re Buying
Written by Dan Kozel
Copper Gets a Healthy Pullback
Copper is up 19% YTD - and After what felt like a never ending move to the upside - the copper bulls have cooled off in what continues to be a market of uncertainty and continued shortages globally. Many in space are concerned with the lack of active copper mines across the world, with China and Russian continuing to strengthen their ties with BRICS allies. As we’ve mentioned many times before, everything going on in the world, specifically conflict and war, always goes back to natural resources and metals. Copper is no different.
Right now, what we’re seeing is a healthy retracement back to price levels we saw in April, and it seems like the spot price on copper has found support. Technically speaking, this is a health pullback, as we’re seeing RSI retrace back below 50, after breaking past $5/lbs, earlier this month.
As speculators continued to pile in, the “long-copper” trade has been a little too crowded. This pullback is normal and expected.
Demand for copper continues to be strong, as we’re seeing better than expected global growth - these vary across the energy transition narrative, EV manufactures and a heightened demand for AI related technologies.
Everything we talked about in our January report, has come to fruition, and the next 45 days, we are likely to see an accumulation period both on the equities side, with Copper producers who have strong balance sheets, and physical inventories being able to stabilize supplies, at least for the time being.
Copper, could stay in this range for quite some time, and the quick-money has already been made, but this is a decade long story, which will take time to materialize, as we head into 2025.
Crypto Call - DeFi Technologies
Back in mid February, we sat down with Russell Starr from DeFi Technologies. At the time, the stock was trading just under $197M market cap - with nearly 5x the amount of crypto holdings on their balance sheet.
At the time, DEFI was trading at $0.59/share CAD…
Full podcast episode below.
The holdings are being held in their core business, Valour Asset Management, and they have been staking most of the major cryptos available. Their total core holdings, prior to March, were just over $600M…
A simple mathematical equation would suggest the stock was in fact undervalued by roughly $500M.
Over the past month, DEFI went from $1.10 to just over $3.40/share CAD, before retracing back to about $1.44 - where it has found some good support.
Keep this name on your watchlist for the time being - because when Bitcoin goes on its next run, this name is certainly going to have another move to the upside. Manage risk accordingly here, because a break below $1.44, would see the stock drop back down to $0.80. Price has memory.
Having previously said, Bitcoin will hit $80,000 USD this year with 100% probability, DEFI will likely go up with it.
MUSH Update
Last week, The Good Shroom Co., announced their Quarterly earnings on June 25. The company achieved Q3 gross revenue $1.135M with a 9-month gross revenue of $3.774M. MUSH added another $30.8K to their bottom line, while holding zero debt or any outstanding excises taxes.
This story is the little engine that can, and perhaps a hidden gem in the cannabis sector. Eric Ronsse and his team are preparing to make an innovation push, into THC-infused pouches, similar to Zyn nicotine pouches - nobody in the space is doing this right now, and the company should expect a decision from Health Canada in the middle for Q4 on this.
We keep holding MUSH here as a speculative position, as the company continues to manage their balance sheet and growth appropriately.
Junior Mining Position Updates
Drilling season has begun for most mining companies, particularly in North America and parts of South America. And with Gold being up 15% YTD - some are starting to wonder when a lot of these junior miners are going to move higher - history suggests this is the case.
Since March, most have in fact pulled back; we think this in large part to two pieces. Most have completed their private placements and have had warrants attached to those deals. Its not unusual for these names to see selling pressure after 4-months, due to warrant overhang. The problem right now, particularly in Canada, is the passing of the new Capital Gains tax, of 66% - where investors are probably looking to offset any gains, and minimize their tax bill.
Names right now we’re seeing are Emperor Metals, Delta Resources, Triumph Gold and Silver Tiger.
We think right now is likely the best time to keep accumulating some high qualified names and trimming some of the ones that have some explosive moves already - it’s proper risk management at the end of the day.
One name we’ve been holding for quite some time, that is likely not running out of steam, is Lavras Gold. Since March - the stock has more than doubled and their exceptional drilling results speak for themselves; they’re clearly sitting on what seems to be a very promising resource for gold on two of their key projects.
It pays to be patient in this market - so while the crowd will continue to chase the shinny objects in this market, the last thing you’ll want to be doing is chasing the trade, when green candles starting printing consecutively…. the chart below proves the point.
When more advisors start realize bonds and treasuries are no longer safe, they will turn to gold and in droves. The freight train that will come from this rotation into gold and silver will be incomprehensible.
There’s no better time to accumulate, than right now.
Wrapping Up
That’s all for this month - if you have any questions/comments or want updates directly from management of companies, please reach out to us and we can coordinate a meeting.
Enjoy this next incredible month of what promises to be a great summer.
Cheers,
*DISCLAIMER* - READ CAREFULLY
None of the information taken within this newsletter should be considered investment advice and should only be viewed for information purposes only. NewGenMindset is not a broker, or a licensed provider of financial services. All claims made in this newsletter to any listener should not be viewed as offering personalized legal or investment counseling. Any investments made in any companies should be consulted with a licensed financial professional from here on.
