I can't stress enough that Peter Leeds has not wavered from his message since I've started following him in 2017 today I can finally see the cliff that he identified long ago it's not just that the Great American Deb bomb is going to pop there's other bubbles other areas of irrational exuberance a lot of frenzied activity that when one of these bubbles are over speculations reverses or pops then that can affect a lot of other bubbles too the main one is the dead bombb which everyone watching this video


knows is going to eventually get to the point where it explodes and ruins a lot of things financially but until that point we can all whistle past the graveyard and just ignore it or not pay attention to it and keep your eyes on kardasians in the election what are we talking about here we're talking about the coming economic Reckoning matter of time if it's not here tomorrow it'll be here the day after that and if it's not here the day after that it'll be the day after that it's a matter of time


whenever it gets here it's here and everything's going to shift from greed to fear and how long does that transition take it happens in a moment in an instant all of a sudden everything goes from greed to fear we got one stock which is worth 11.7% of the entire GDP of the whole nation One stock and as you know the world economy is slowing down and this was manifested or illustrated by the fact that the other day oil prices dropped $5 when Israel said we're not going to strike Iran's oil reserves or


oil refineries you see the price of oil Dro $5 a barrel or 5% whatever it was and that illustrates or exposes what the risk premium was because they thought they might be an exclamation of the war so all of a sudden oil prices start building up just like with gold and when that threat goes away or is diminished that risk premium diminishes pretty significantly and that's what you saw when the price of oil dropped 5 a barrel but as I explained in my recent oil glut video there's going to be way too much


oil and oil goes from being something you use to being something that becomes a liability when you have enough oil and then you have a few extra million barrels of oil lying around it starts to build up it starts to become a problem and there's external influences too such as all the military conflicts around the world and also what's going on with other Global economies if China falls apart does that affect if Germany falls apart Ireland's in recession Canada's in recession United States going to be in


recession pretty soon and when that happens all the greed that you're seeing gets replaced by fear and when any of these plates that are balancing on the waiter tray topples they're all going to topple which is why I said exactly this in a recent Peter leads newsletter I believe we are in an irrationally exuberant Market which is devoid of fear leaving only greed and complacency extensive borrowing and debt levels are the only thing keeping the nation moving and when the Great American debt Bomb Pops reality will be


exposed like a vampire to sunlight the financial world is going to look very different not too long in the future from now and you're going to say wow look at how bad it got I don't know Peter were there any signs well yeah there is a lot of signs and I'll tell you about a few of them right now and don't take my word for it listen to some of the people that I respect and listen to a lot they're agreeing with me they're agreeing with us it's extremely overvalued stocks or


bizarrely overvalued stocks according to many sources this is from MSN stocks are extremely overvalued according to an indicator favored by Warren Buffett but this is from market watch an article from Mark hbert any way you look at it the stock market is dangerously overvalued now also S&P 500 is almost as pricey as it was at the January 202 to bull market top based on the latest S&P 500 monthly data the market is overvalued somewhere in the range of 103% to 170% depending on the indicator up from


last month's 98% to 164% range so it's dramatically overvalued and getting worse I'm not sure where everyone else is assuming this is going to go or where this is leading which reminds me of the most important comment that I've got in a long time that I definitely want to read to you especially if you're new here if you have been around here on the Peter Leeds YouTube channel for 6 months a year or less listen to this I can't stress enough that Peter Leeds has not wavered from his message since I started


following him in 2017 today I can finally see the cliff that he identified long ago I've been talking about this forever you guys and I'm glad that everyone seeing it now but it's too late we can't do anything about it the e omy is going to crumple and fall apart and there will be a lot of harm and damage from that there's nothing's going to stop it no elected official no new philosophy among Society the debt bomb has gone beyond where it can be stopped we're already paying over a


trillion dollars per year just to float the debt that we have just to pay the interest charges on the government's credit card here's another one stock balls are telling themselves a lot lot of lies about this market and here we have US market is extremely overvalued Now by almost any measure and this is from finbol Nvidia is now worth 11.7% of All American gross domestic product 11.7% of the nation's GDP and it goes on to say will this be the next.com bubble it'll be different in some ways


similar in some ways but it's not ever going to be the next Doom bubble but that doesn't mean it's not going to act the same way there's absolutely an overvaluation of stocks which will revert to mean it will go back to where it should be more realistic valuations however we are in a moment of liquidity expansion so as long as they're lowering interest rates and printing new money and doing quantitive using yeah you can get the house prices cryptocurrency prices stock market


prices go through the roof that's exactly what happened in Venezuela some people were billionaires and had no way of getting any kind of food or medicine but the thing about all this easing and quantitative loosening it's an artificial influence and I tell you guys all the time when something's artificial it's always temporary so if they say we're going to lower rates and print money and make everything seem like it's going higher make the stock market go higher because it's a manipulated Market it's not


trading based on Market Discovery it's trading based on governmental decisions this is all temporary it's all artificial so it's temporary and what happens when those influences pull back that's where you get a backdraft that's where you get an overreaction to the downside I want to take you through this article from advisor perspectives is the stock market still overvalued and they're using a lot of metrics here that's what I wanted to show you because because you got one of


my favorites here the Q ratio anytime it's over 1.0 but displayed here by 117% over 100% that's a risk factor and it always is followed maybe not the next day but it's always followed by a massive stock market correction stock market is like a pendulum where it over corrects to the good side which is what it's doing right now and it over corrects to the downside when it goes the other way but they also look at a lot of other top level valuation metrics or indicators and what you're looking


for where the risk is anything over 100% for these numbers this is the average of four valuation indicators they explain in the article how they calculate these but they're all the same thing they're all telling the same story when you look at overvaluation metrics and you combine them into one thing this is what it looks like and anything over 100 once you get up to these levels is a definite overvaluation and risk scenario again like I said it's hard to go against the market at a time of quantitative easing


and loosening and money creation and lowering interest rates but as we'll get into in a bit that's when recessions begin when they're low entering rates I'll put a link to this article below this video and you can go and check it out yourself basically however you look at it from many metric the markets are overvalued at the current levels the S&P 500 for example in the last year it's already up over 40% over the year and I tell you it's not about the Final Destination it's about the


speed in which it gets there the slope of the curve the slope of the trend it went up 40% in a year that's too fast for the S&P 500 even in a good economy that would be too fast it wouldn't be sustainable it wouldn't be lasting the faster something moves the quicker it comes back down to earth you want it to go up 40% over numerous years and that way it'll hold those gains these gains won't be held many of them will but overall there will be reversion or correction for a lot of


these overvalued stocks in my opinion when is it going to happen maybe not soon there's a quantitative easing situation right now where everything's going to be doing well the stock market's going to be doing well cryp currencies will do well precious metals will do well and no one's Afraid Anymore hey after all we've got the plunge Protection Team and if things go badly the Federal Reserve will just react and get everything to be good again everyone is completely oblivious of the danger


because we haven't had any real danger in these markets in such a long time I'm not just talking about the stock market I'm talking about the economy and I'm talking about you I do not trust this Market at all and the higher it goes it's just going to be falling from a higher base is it going to fall tomorrow I don't know is it going to fall I believe it will when the Federal Reserve as I said in the government are doing a lot of things that are artificial and therefore temporary to Goose the numbers


they got the GDP numbers higher because they're buying weapons and they're hiring government workers neither of which helps the economy at all but both of which contribute to GDP well let's talk about what you and I both know we know that the debt levels are unsustainable we know that the debt the speed at which we're taking it on is accelerating we know that we're in a situation that we have never ever ever been in no Society has ever been in the situation when right now with the level


of debt we have at a time where we've been running an ongoing operating deficit every year since about 1970 or so we understand that the debts are unpayable talking about the federal debt and a lot of what the government owes what they put on the shoulders of us taxpayers but what is owed cannot be paid and now it's admittedly not going to be paid or technically it could be paid because they'll create new money and therefore they're going to default through inflation they create a whole


bunch of money and pay off everything with these watered down dollars well we've got 13 trillion do in debt just make 13 trillion units make a trillion dollar platinum coin Janet yell make about 13 of those just give them out and we debt free there will be a massive influx of new money into the system the liquidity will Spike everything's going to be seeming to be doing well including inflation whenever the economic reality kicks in and then people realize wait a minute we were leaning too far towards


greed and not far enough towards fear and when they all correct the Federal Reserve will react and overreact just dumping money on everybody as they always do which will cause inflation in house prices artwork food stocks cryptocurrencies precious metals but the thing is I put out a video recently about $10,000 gold and we will get there but I don't know that I want to see $10,000 gold because what that means what it represents a about what's going on with the economy $110,000 gold in my


mind is a lock but it'll also mean that a lot of other things are a lock as well that are not good for the economies of the world it is for basic security of the world but what we're finally seeing now is a global recognition of the failure of the US dollar and also there's active players trying to get away from the US dollar which includes all the bricks nations of which now there are more than five there's more like 12 I think but what are we talking about here there's a lot of areas overvaluation areas of risk


right now that I feel like people aren't really keeping an eye on because they're all assuming that everything's going to be fine because things can be manipulated to make them better I mean after all we're in an election cycle so no one's going to let the stock market Fall Apart now okay so give it a week election will be over and if we have a clear winner of the election then we can move on with our lives what I'm talking about is all these areas overvaluation one of them's going to pop


and when one of them pops they can affect the other ones too the main one is the confidence in the US dollar going away that'll happen before the debt bomb catches up with us the confidence will go first real estate doesn't make sense because it's at a level price-wise that it's not able for a new family getting started to be able to afford a home for a new family getting started this will be temporary things like a real estate market adapts and changes where there's enough houses houses become more


expensive so they build more houses it's the same as anything it's capitalism it'll take care of itself but this economic delusion that we're all in is going to pop too we're having cheerleaders always coming out on the media saying the American econom is so strong because of this it's because of that they keep telling you and telling you and telling you you think thou protest us too much if it's a good economy you don't need to talk about how good it is I don't know if it'll happen


early or a bit deeper into the process but the wealth effect will diminish almost completely maybe not at first there's a really strong wealth effect right now especially if you own a house or if you on some of the stocks that have been doing well but two things are almost certain in my mind this is all opinion only make your own decisions I believe that stocks will come back down to realistic levels much lower prices and that the debt bomb that I've been talking about since 2017 based on


the testimonial that came in from Fernando but is actually longer than that it's suddenly going to matter and I'm not giving you timelines of win I'm just telling you when you see a train approaching that's going to hit you it doesn't matter how far away it is it matters how fast is it going and now the great news is that we're finally starting to lower interest rates but I can show you on this chart that when interest rates start to go lower that's often where the recession indicated by these gray areas


on the chart that's the recession begins so we got rate reduction it's going into a likely recession real estate is unaffordable unreasonable and realistic and something I wanted to say about cryptocurrencies in a market Panic they're going to come down too they're going to suffer too just like Industrial Metals like silver silver will come down too but don't think of cryptocurrencies as a safe haven just because the dollar is deteriorating there's too much of a speculative involvement with


cryptocurrencies in addition to its intrinsic value so what do we have now what do we do now first of all you got an election coming up in a few days wait till a few days after that see what happens it's going to change a lot of things you don't want to make any major moves right now in my opinion unless it's defensively but then a couple days after the election which is on Tuesday we have a raid decision which will be Thursday from the Federal Reserve lowering interest rates again for nearly three


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