January 3, 2019
Over the last several weeks U.S. stock markets have seen a whirlwind of action.
As the holidays approached and stocks began to buckle, headlines blared warnings of a Christmas Crash. In the first few weeks of December and up through Christmas Eve, stocks dropped 4,000 points on the Dow Jones, a move that sent financial shock waves across the world. As everyone from institutions to retail investors braced for the worst on Christmas Day, America’s Plunge Protection Team sprung into action. By the 26th, stocks had recovered a full 1000 points in under 24 hours and the Santa Claus Rally was born. A Christmas Miracle to be sure – one that was fueled by massive injections of cash in a last ditch effort to save the system before it broke through major market support levels.
The mainstream media would have us believe that all is now well, but for those who lived through the 2000 tech bubble crash, it seems all too familiar. Just like 2000, we’re now seeing what can only be described as obscene valuations for tech-related companies and broader stocks in general.
And just like the bursting of the bubble in 2000, so too will we see similar events unfold now. According to Keith Neumeyer, the CEO of the world’s largest primary silver producer First Majestic Silver and Chairman of First Mining Gold, we’re at the early stages of another crash that stands to wipe out potentially trillions of dollars in wealth.
I look at this time frame that we’re currently in very similar to 1999 through 2001. I think it’s more than similar. I think it’s almost identical.
… They’re trying to hold it up as much as they can… This is going to be an ugly January and an ugly February…
Going back to the top of the NASDAQ in March of 2000… we have all-time highs… exactly the same as we did in 2000… and it’s now crashing… and where’s the money going to…