John Gary Kaltbaum discussed on Investor's Edge

Automatic TRANSCRIPT

To investors at John Gary Kaltbaum your host I got to get used to that opening I used to have done other than other than an animal you step Dan Aykroyd I've got hers comes Gerrit Cole Paul actually Leslie to talk an extra forty five seconds you don't mind that right he was a gentleman this is investors edge this is a show about you and everything that affects you and you know we are the best technicians on earth when it comes to the markets and we have proven that time and time again throughout the years but we also cover everything logical that affects them we take on the powerful we take on them in Brussels we take on the morons also and cover everything we think needs to be covered on a daily basis and it's not just markets it is the economy as a whole it is the job market it is a virus everything we think needs to be covered we are honest and this is quite the interesting day because we have been railing against and covering the central banks for ever for ever and they're at it again so we're gonna do two parts today one part markets the other part the fed because we have to do our little dissertation on the fed again to bring you up to snuff on the maniacal crap they did today just remember what they have now done in the past couple weeks they have screwed you the same first and given flap loads I've conjured up money to the wealthiest of the wealthy and yet you want to know why the wealth gap is out there the central banks now took all your interest away and gave trillions and trillions and trillions of dollars to the wealthiest of the wealthy and nobody is gonna complain because the markets react to the upside off of this because of the wealthiest of the wealthy are the markets it's the big institutional crowd it is the big gigantic banks that's what happened today so let me start by telling you that recently the fed announced William dollars a printed money along with the two trillion from our government in order to fight the virus don't know creating four trillion dollars out of thin air and taking rates to zero percent fights a virus but they say it will help the economy but before that the fed printed a trillion dollars in the fourth quarter of last year while the economy was strong we thought they were supposed to do that when the economy was weak today well we told you that we doubt it's going to be just four trillion because there is no yield to low and no amount of money to high for these people to conjure up and let me be clear the fed has no money they have nothing they don't earn any money the printer they conjured up out of thin air have you ever been to like the in Washington with a print the money that's the real money that circulated they print additional they announced two point three trillion dollars today the fed another two point three trillion dollars on top of the four trillion the market was going to be down today no really we promise you the market was going to be down today the market had a pull back it was down two hundred before the close of the market was going to be down today it went from futures down two hundred to four hundred in a minute the fed also knew the numbers that were coming out at eight thirty which were by the way are you ready seven point four five million people continuing jobless claims weekly jobless claims six point six million a lot of people out of work right now so let me tell you what the fed did today with the two point three trillion.

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