Investor's Edge with Gary Kaltbaum - THE FORK

Episode Date: June 13, 2022

More Info At: http://garykaltbaum.comMore

At CVS, it matters that we're not just in your community, but that we're part of it. It matters that we're here for you when you need us, day or night, and we want everyone to feel welcomed and rewarded. It matters that CVS is here to fill your prescriptions and here to fill your craving for a tasty and, yeah, healthy snack. At CBS, we're proud to serve your community because we believe where you get your medicine matters. So visit us at cvs.com or just come by store. We can't wait to meet you. Store hours vary by location. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Coltbaum. And welcome once again to Investors Edge. I'm Gary Colpom,

your host. A thanks for being with us today. Glad you're here, ladies and gentlemen, happy that you are listening. It's Monday, June 13th, 2020, and I still have COVID. I tested positive on the first. It's the 13th. I just tested positive again on the 11th. I have absolutely no symptoms whatsoever, not a lick of symptoms. Feel strong as an ox, lifting weights. I stayed off the weights for a little bit. I don't understand this thing. Anyway, just let you know. what's interesting is I looked at the CDC it tells me

I go out do this do that do this do that we're masks in front of people though but go and you're all immune and I don't know anyway hey I hope you don't mind

I'm going to sound quite p-oed today on the show and I may say crap quite a few times as well as other sundry words that are okay on radio. These are days where I wish we can do satellite because there are certain words I want to use for certain people and for certain entities, but I will hold back

because I understand the medium we are in. And I say that I am P-Oed for all of you. I am P-Oed for what has happened. I am P-Oed because the same people that enabled what we're going to talk about today are still in power. I am P-Oed because, I don't know, what, 45 or 50 politicians are retiring after they put us into gargantuan debt. I think it's more than 50. I am P-Oed because all the con artists are still trying to con you. I'm just plain old P-Oed. But I also hope because this is now going on, let's see, it's June of 22. We started ripping Powell December of 18. We're talking three and a half years of ripping on this guy and nobody listening to us. And of course, we amped it up when he started his COVID unimaginable amounts of printing, getting the European

Central Bank to do the same. And we've been warning you ever since. We outlined for you exactly what was going to happen. And amazingly, it's exactly what has happened now. And all we do is hope you have listened. All the big magazines and newspapers keep quoting top economists and whatever, and they never reach out to the one who nailed this two years ago. And guess what? We want to stay that way.

Under the radar is actually a good thing. So we're going to start out in no particular order today. But I must start out with something you don't even know about yet. Let me read it to you. Electric Vehicle Startup, the name of the company, electric last mile solutions said late Sunday it plans to file for bankruptcy less than a year after it went public via a SPAC. The Michigan-based maker of electric commercial vans said to release that interim CEO and its board of directors decided on Sunday to file for Chapter 7.

That's liquidation of all assets after a comprehensive review of the company. products and commercialization plans turned up no better options for stakeholders. In other words, every freaking dime has been lost. And guess when this came out? June of 21 in the midst of us yelling and screaming about these cons. The new CEO has served as an interim CEO since February when founder and chairman Jason Luo and then CEO Jim Taylor left after internal investigation found that the company's past financial statements were unreliable. Do you think anything's going to happen to

these two people? Not a freaking thing. And they probably left with a crap load of money. The symbol on this piece of crap. Elms, a $10 deal when a $1,000. as high as $15.30, closed at 20 cents today down 61%. Who enabled all this? Jay Powell, because the ability of Wall Street to screw you as badly as they are can only happen when massive bubbles are created by moronic and imbecilic central bankers. We specifically told you there is no way in hell that so many companies are going to be able to make autos. It was all a lie.

It was all bull crap. It was all a money grab. We already seen the guy from NKLA, Nicola, indicted on fraud, the guy from Lordstown, R-I-D-E, out on his arse, and I gather someday he'll get indicted. And there's a bunch more to come, because you know what happens in bear markets?

It's simple. The curtains come down on all the bull crap. All the scams. all the cons, all the touts, all the big, gigantic BS foisted upon an unwary public, where a bunch of tout artists come after you left and right on a daily basis, which takes me to the next part of the equation, the coins. We warned you. We simply warned you.

We use the same terminology every single word. time. We spoke about it. We expect 90% of the coins to drop 90% or more with most going to zero. We warned you. Overnight, they murdered the main coins. They went after Bitcoin and Ethereum. The Doji coin piece of crap that came out as nothing. and it was a lark rally to 70 cents is now 5.6 cents. Bitcoin is now down to $23,367. It was 29,992 on Friday. You want to add that up? Ethereum. That other one closed at 1242 today. It was 17802 today. It was 1780. on Friday. What have we told you?

They're just coins. Up next, we'll expound on the con. Much more up next. On this, the one only Investor's Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show, Investors Edge.

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You're listening to. Hey, this promises to be fun. Investors Edge. The last bastion of quality programming. With Gary Coltbaum. It doesn't get better than this. And welcome once again to Investors Edge. You know, I thought there were like 12,000 coins try to screw you.

I'm now being told there's 19,000 coins created to try and screw you with very weird names. I have this website called coinranking.com that I go to and mostly they're all pretty much at zero. I gather most of them never even got off the ground. but there's still plenty out there that actually have prices to them. And just hopefully you've been listening. That's all I can say.

I'm not going to mention who. I'm not going to mention where. They had one of the main ass clown tout artists on TV doing interviews today. What a great vote. value. This specific ass clown is losing his ass and has a ton of it. And if he hasn't sold, he now can't sell. But he will have to eventually forcing price even lower because a lot of these hedges manage other people's money. And they ain't going to stand for this. That's what is known as redemptions. I have told you to ask yourself,

the question hundreds of times on this show, what value backs up any of this? What merchant would actually take in a asset to pay for their products when that asset moves up 25% and down 25%. There have been a few. They've gone by-bye. Why would we? anybody take their salaries in all this? The quarterback for that Jacksonville, taking his salary in coins. He's getting mauled. People that I know to be sane are getting mauled. And obviously not one of them asked themselves the simple question, what backs this up? What's the value? Earnings, sales, business, what's there?

There's nothing but the next guy buying at a price that the holders are praying that they do at a higher price. This has all been enabled by these maniacs at the central banks, these egomaniacs, that believe they were God with markets. I still don't understand or can comprehend how we got to the point where the whims of just the select few people could actually wake up in the morning and print $9 trillion out of thin air and then interfere with free markets in ways unimaginable. they did. We told you

there is only one ultimate outcome of this. A gargantuan bust of the asset booms they created in crazy stuff. Crazy stuff!

At crazy prices, sports cards that never went for 100 grand selling for two million. NFTs, what the hell is that? Going for five million. Some jackass paid $18,000 for an invisible sculpture. We pleaded with every one of you to read the book, Extraordinary Popular Delusions of the Madness of Crowds. They can now do a second, third, and fourth book on what we are experiencing right now. It's exactly how it works. I wish I had better news except we told you and outlined this for you. We started two years ago.

When the money printing, the big money printing started. We warned you about Powell Christmas. The day after Christmas, 2018, we warned you. And he's still there. like a doctor that you go to to get your right arm that's broken in a cast and he puts it on your left arm. That's this man. Nothing personal. Never met him. Probably a nice guy. Wrong person at the wrong time.

And it worsened again today. Not just in stock markets. Not just in bubbles. even worse, but in bond markets. And now we await this one man in his whims on Wednesday to play catch-up on what we've warned you about again. The man is not even on the playing field of you being crushed by the prices you are paying while your savings is being crushed by the prices that are dropping.

a one-two punch that cannot stand while Janet Yellen out last Friday wondering why are consumers so upset and I don't believe there's a recession this is our Treasury Secretary that I don't think knows what day it is let alone what the hell is going on there in the real world yeah I was wrong on inflation

sorry. Up next, today's market. Much more. This is the one to only investors edge. Struggling to see up close, make it visible with Viz. Viz is a once daily prescription eye drop to treat blurry near vision for up to 10 hours. The most common side effects that may be experienced while using Viz include eye irritation, temporary dimmer dark vision, headaches and eye redness. Talk to an eye doctor to learn if Viz is right for you. Learn more at Viz.com. With record U.S. debt, ongoing geopolitical tensions, and constant market swings. many people are rethinking how to protect their savings. Physical gold and silver have been used for generations during uncertain times to diversify, not replace traditional investments.

Preserve gold helps Americans understand these options. Text iHeart to 50505 to get your free wealth protection guide and explore how precious metals may fit into your retirement planning. Online reviews say I'm steep, rocky, and a difficult time. trail. Next time I'm going to say, not if you're driving a Toyota truck. We know what we're made of. Toyota trucks. We're listening to America is talking. Investors edge. He's got to be pleased with that. The crowd is just on his feet here. He's a Cinderella boy. With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. All right. Let's start with the bond market.

And what have we been telling you? The bond market is shooting the middle finger, a big gigantic middle finger back at Powell, for his incompetence, his impotence, and his clear, no understanding of what's going on, and the fact he is so freaking, freaking, far behind what the markets are yelling and screaming. The 10 year today, up to 3366, up 2.10 today from 3156. The 5 year, up 2.25 to 3.475 higher than the 10 year. That's your mortgage rates. Goodbye housing market.

The 2 year is at 3.344. And he's going to raise rates. Let me just tell you what he's going to do. Remember they've been telling you a half a point? He's going to raise from three. Just so you know, Fed funds is what banks charge each other and go look it up. Is right now three quarters of a percent dash 1%. The expectation was he was going to raise it to one and a quarter dash one and a half.

I can't use the word guarantee. I'm not allowed to. I can all but guarantee. I think I can say that. Just in case I can't say that, I take that back. I am highly confident. That's better. He is raising three quarters of a point.

But that's only going to take him to 1.5-1.3 quarters percent. The five years double that. Leaving him still way behind. So our next thesis, our next theme says the housing markets, especially in the bubbled up areas, are going to pull what we call the Eiffel Tower move straight up, straight down, no in between. I believe you are going to see sell times extend beyond the beyond. In other words, it used to be you put it up and people were bidding over each other. Then they stopped bidding over each other. Then it took five days, then 10 days, then 20, then 30, then 60.

Then you're going to see people lowering prices. And then you're going to see inventory pickup. And that's going to build on and build on and build on. And then you get into the down cycle. Why? The 10-year yield, that is your mortgage rate. You got that? The 10-year yield, get this.

has gone from. And we are not making this up. Let me go one year on this. Nah, that's not even a year. Let me go back a year, year, yeah, yeah. 1.5% to 3.36% in a year. So we expect that. We wish we had better news.

All our outlines are coming. into fruition. All the bubbles have popped. And by the way, you are now hearing of exchanges for these coins having to shut down temporarily or more because they can't handle what's going on. And guess what? I believe capital requirements, what the hell is that? Leverage? Uh-oh. I saw one of the morons on TV to say, oh, there's a definite value in the coins here. Do you know what I yelled at the TV? Two words that was not happy birthday. I loathe these people trying to con you into buying into what they're being crushed by in hopes to get bailed out. And I would say it to their faces. Dogecoin. So today's market wrap brought to you by Investment-Dashmodels.com.

That's Jim Rohrabak, one of the great market timers. No gray areas with the man you're either in or out of the market with his proprietary indicators. Go check it out. Investment-dashmodels.com. Dow down another 876 S&P. And by the way, we would down over a thousand with a few minutes to go. S&P 151, NASDAQ 530, NASDAQ-500, 544, the S-Conductor Index 159. transports 405 just remember this all started with the transports having that real bad day last week just New York and NASDAQ new yearly lows 2435 new yearly highs advanced declines probably as bad as you can get up down volume gross they even got the oil stocks, which takes us to our other mantra in bear markets, another rule in bear markets. Remember, we've given you out these rules. Eventually, they get them all. And even though oil prices were up today, I can tell you that the big oil ETF was down 5% today. The

OIH, the oil services, was down about 7% today. And the oil explorers were down. down about 6% today. Why? They're stocks. McDonald's was up a buck today. Beats the heck out of me, why? But it was up a buck, everything else in the Dow was down. Remember what we told you about McDonald's. It has held up a hundred times better than all the other restaurant stocks. Why would that be because we told you when we get into bare markets, Dow stocks will hold up better than most because the big money crowd will buy buckets of Dow names because they're more liquid, they're much bigger and they're very, very low beta compared to like a Tesla, which moves all over the place on a daily basis.

So even that's going on. My screens are a sea of red. we put out a note on gary k.com last night you may want to read it we're not holding back at this juncture and you're getting no help from wall street as usual and what we mean by that is we've always told you and it's not an indictment because it's who they are wall street is a fully invested vehicle

now think long term everything's fine We've seen this before. Don't worry. Yeah, we know you're one millions at 600,000, but it'll come back. While you can't sleep at night, we do not play that game. We have spent thousands of hours studying the roadmap of bear markets and tops in the market, and we have again nailed it for each and every one of you that have been listening. The WWE was up 21 cents today.

I got two stocks on my front screen up. One's the WWE. Must be because Monday Night Raw is tonight. And McDonald's. Isn't that amazing? This professional wrestling aficionado doing this show for you right now. The WWE is up 21 cents. Port in the storm.

I'm not sure I have anything else to expound on these markets. The bare markets and growth stocks for the many or, are record breaking. We've told you many times it rivals 2000 to 03 in that debacle. And that was when the NASDAQ was down 80, but the NASDAQ is only in the 30s. And we told you why that is. It's because the big, big mega names have held up much better.

But even they are coming in now to a bare market extent. All the bubbles have busted. and in a huge way, the meme stocks like AMC and Robin Hood. Up next, the music's playing. We'll try to finish this off on a positive note. This is one and only investors' edge. Struggling to see up close, make it visible with Viz.

Viz is a once daily prescription eye drop to treat blurry near vision for up to 10 hours. The most common side effects that may be experienced while using biz include eye irritation, temporary dimmer, dark vision, headaches and eye redness. Talk to an eye doctor to learn if biz is right for you. Learn more at viz.com. Volatility is hitting retirement accounts and savings across the country. More Americans are exploring physical gold and silver for added diversification during unpredictable economic periods. Preserve gold offers straightforward education on how precious metals

can be included in an IRA. Text eye heart to 50505 for your free wealth protection guide and with a quality. Qualified purchase, you could receive up to $15,000 in free gold or silver. Online reviews say I'm steep, rocky, and a difficult trail. Next time, I'm going to say, not if you're driving a Toyota truck. We know what we're made of. Toyota trucks. We're listening to.

What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! In the Gester's Edge. With Gary Colbaugh. So truth be told, the market has always gone to all-time highs after bare markets. This is fact.

There's a big problem, though. Truth be told, we've never had 30 trillion of debt here. 300 trillion of debt around the globe. We've never had asinine, ascenten, as 10, and as 11, gargantuan. massive, conjured up out of thin air money printing by the whims of a few that have absolutely no clue whatsoever. We have told you a hundred times on this show. The only thing these people are good at are creating another credit card to pay for their last credit card. and of course the new credit card with a higher credit limit meaning debt to pay for their last credit card

that's all they're good at that's all they've ever been good at and now the other side of the Eiffel Tower we have been worried about an asset bust because of the asset boom we worried about it in 08 but that was a piker You must know, since Bernanke started the big experiment in 2009 of money printing, I want you to listen carefully. Up until that date, throughout the whole United States history, more than 200-some-odd years, we amassed $10 trillion of debt.

In just the next 13 years, we added 20 trillion of debt. Huh. Is there any wonder all these, I'll hold my words, politicians in D.C. are retiring. Is there any wonder? They know what they did. They know what they did. And now the downside of the asset bubbles. Marijuana. Electric vehicles. Solar cells. The stupid moronic Robin Hood short-squeeze meme stocks. the SPACs, the electric vehicles, the air taxi pieces of crap. Yeah, let's put a startup air taxi company onto the market so people can buy into it and we can make ourselves wealthy and then run for the hills. They did that.

We have said to you time and time again, we have never been more confident in you. We have never been more optimistic in you. The problem is we've never been more pessimistic on them. And unfortunately, they're running the show in ways we have never imagined. And now they're going to tell us they're coming to the rescue for us. And I just mentioned at the outset of show on purpose, a SPAC that's going bankrupt. We believe there's going to be a lot more where that came from and a lot bigger. where that came from. How do we know? It happens every time. It's called leverage. Wall Street

was enabled by these central banks to leverage the hell out of everything because of zero percent interest rates. Hey, what the hell? Borrow money. We're paying nothing on it. Wow, ain't that great. and now the downside. So we don't know how long it lasts or how far it goes. We just know we are now way, way, way oversold. We're way, way stretched and extended. So maybe we get a bounce here or there. It will not change the big picture.

And in case you want to know, from Wednesday noon, the NASDAQ has gone from 12. 235 to 10801, about 11 to 12% in 3.5 days. About 11.5. The Dow has dropped in that same time, 3.5 days, 33156 to 3516. It's 2,600 points. It's about 8. The S&P has dropped from 4166,000. 6 to 3516. It's 2,600 points. I think it's about 8. The S&P has dropped from 416. to 3749, about 9.5% in 3.5 days. So if we bounce, it'll be just that. Don't fall for it. Don't fall for the bottom callers on every up day. That certain famous guy on that certain financial network has been calling bottoms this whole bare market. Told you to buy tech three days ago. Told you to buy crypto a few months ago. Pay attention to price. And if you are not part of

our webcast at garyk.com, press the button. It's convictionleaders.com. One month free because we are benevolent. We have shown and walked through our members since day one of the top. And we'll continue to work our tail off to stay in gear with this. We wish we had better news. Don't believe the people that say things are cheap. Remember, markets are now accounting for the higher rates and the massive sheer loss of credibility by the people who run the show. Remember what we told you. The big money has to make decisions. And when they hear from people in D.C. Their only thought process is sell more. That's part of this process. Have a great evening, drive carefully. Monday night, Rawls tonight. And when you get home to like we do,

it is quite simple. Once I get over COVID, make sure you hug your family, make sure you hug your children. They will feel better. You will feel better. I promise, until tomorrow. Until tomorrow, Same time. Peace out all. Thanks for joining. Bye-bye. This has been Investors' Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com. With the power and endurance of Toyota trucks, you can go to the most incredible places, like this valley where the Echo does different voices. Hello! Hello!

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