Markets, bitcoin, and the dollar had a Reversal Tuesday fueled by Trump’s promise of massive artificial fiscal stimulus. Trump trying to buy a second term, but with democrats holding stimulus hostage, stimulus will come with socialist labor laws and Keynesian helicopter money. Betting markets see now see Trump as the underdog. Mandated paid sick leave will hurt employees.

Bailouts for oil, airlines, hotels, and cruise ships are just another backdoor bailout for the banks.

While all the safe-haven assets dropped today, bitcoin’s price rose along with the other risk assets. Bitcoin now trades highly correlated with the stock market.

Joe Biden’s gender-based VP list is sexist. Bernie Sanders says America’s tax system should be more like Sweden, then admits he knows very little about it.

See Also: (Peter Schiff) – US shale industry bound to crash

The drop in oil prices is likely to be short-lived, veteran stock broker Peter Schiff told RT, since the deflation of the whole US debt bubble and crash of the dollar will make the prices of oil and other commodities bounce up. Decline in demand for oil due to the coronavirus epidemic, further reinforced by the demise of the OPEC+ production cuts agreement, has crashed the US and world markets, sending traders into a panic-selling mode. The ongoing market turmoil will certainly hit the oil industry heavily, but the impact is likely to reach far beyond it, CEO and chief global strategist at Euro Pacific Capital Peter Schiff believes.

Also: (Peter Schiff) – It’s not the oil, it’s the debt

Oil war that began today will bankrupt many US companies. 60% of stocks in Russell 2000 are lower now than when Donald “the stock market president” Trump took office. Financials continue to get clobbered and stimulus won’t help them this time. This time nobody will believe QE is temporary or interest rates will normalize. Australia looking to repeat the mistakes of others central banks. Gold broke $1700 today, but didn’t break out. All the babies were thrown out with all the bathwater, including gold mining stocks. Gold price much stronger during this crisis than in 2008. In contrast, the dollar is now falling against other currencies. Massive swings in the currency markets leaving the dollar crumbling against other major safe-haven currencies, unlike in 2008 when that crisis sent the dollar soaring. Gold has much less ground to recover now so if it reacts the way it did after the fed’s last bailout, it has a lot more upside ahead.

Perfect conditions for a bitcoin rally, yet it’s collapsing as it fails to live up to hype and people realize it’s nothing more than digital risk. CNBC suddenly and conveniently seems to have forgotten the word “bitcoin.” Phenomenal opportunity to dump bitcoin and buy gold before the bottom really drops out on bitcoin.

Also: (Peter Schiff) – Financial conditions are rapidly deteriorating

Week closes out with another big drop in the markets. Nasdaq and Russell 2000 hit new lows for the year. Russell 2000 on-track to have lost value during Trump’s four years in office. Oil prices are plunging, which is bullish news for gold mining companies as their production costs decrease and gold prices increase.

Fed’s balance sheet rose by a whole month’s worth in one week and it looks like that trend will continue in the weeks to come. Fed’s crisis hasn’t even begun.