Post-election stock market is going to be ‘PARTICULARLY BRUTAL’ & gold will be last safe haven standing – Peter Schiff

The US stock market is coming off its worst week since March and is the worst pre-election stock market in history, according to veteran stockbroker Peter Schiff.

He said on his podcast that the weak stock market doesn’t bode well for Donald Trump’s re-election, who had touted the stock market as his great accomplishment. He also doesn’t think that the stock market would ultimately sell off on the reality of a Joe Biden presidency – that it would be “buy the rumor, sell the fact.”

“Well, apparently they’re not waiting for the fact and they’re selling on the rumors. They bought on the rumor Biden was going to win and now they’re selling on the rumor that he’s going to win, because a Biden victory is not good for the stock market. It means much higher taxes and that is not going to be offset by the Federal Reserve.”

Schiff pointed out that most people seem to think that regardless of who wins, it really won’t be a problem for the markets because the Federal Reserve will step in and backstop it.

Everybody seems confident that the Fed has their back, he says, but “The only leg that this market is standing on is the Federal Reserve and money printing.” The economist explains that “ultimately that’s not going to be enough. The market is not going to be able to survive when that is the only support.”

Normally, when people are running to get out of stock, he says, they move into bonds but if both stocks and bonds are falling at the same time, then there are no gains to offset losses. There are just losses on top of losses.

“So, I think this is going to be particularly brutal, because not a lot of people have hedges that are outside of traditional US stocks and bonds,” said Schiff. “There’s not a lot of investors that have gold or gold stocks that are hedging their portfolio. I think eventually they will. As I’ve been saying for a while, I think gold is going to be the last safe haven standing and ultimately that’s where all the safe haven money is going to flow.”

https://www.rt.com/business/505357-us-election-stock-market-gold/

The Foundation of Hunter Biden Maybe just Another Shell Company

From the below meeting minutes of BBF, it is proved that Hunter Biden, who has a penchant for child abuse(according to source), he is a core board member of the BBF. And the main discussion at the meeting was how to raise funds and build partnerships with banks.

From financial report, we knew the BBF has no other valuable assets other than three bank accounts and $1,345 in office equipment. With total expenses for FY18 of $1,120,390.00, of which $217,294 was spent on golf activities and $404,406.00 in employee salaries.

It appears that the main income and expenses revolve around a particular golf activity. There is not much real business in child protection.

It is therefore possible that the foundation is a shell company and conducts other monetary operations under the guise of child protection.

https://gnews.org/525439/

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The 6th Wave of Biden’s Exposé: Why Is Hunter Sending Joe and Jill’s Car Insurance Information to NYPD Personnel in the Middle of the Night?

倫敦英喜莊園 Himalaya UK 10 mins ago

In what situation, Hunter was sending the car insurance document ‘continuously’ or say ‘urgently’ to the New York City Police Department at late night?

https://gnews.org/524922/

Democrats to Retain Control of US House, NBC News Projects

NBC News has predicted the Democrats will retain their majority in the US House of Representatives through the 2020 elections.

As vote totals continue to roll in on Tuesday evening, NBC felt confident predicting the Democratic Party would retain its hold on the 435-member House of Representatives. However, the Republican-controlled Senate has remained stagnant, with Democrats picking up one seat in Colorado but losing another in Alabama.

Going into the election, Democrats held 232 of the 435 seats in the House, giving them a 35-seat lead over the Republicans. Incumbency rates for the legislative chamber often top 90%, according to data compiled by Open Secrets.

Delegates to the House are elected for two-year terms and all 435 seats are up for reelection every time. The seats are apportioned by population.

While the power to approve items such as treaties and judges falls upon the legislature's upper chamber, the US Senate, the House gets some unique powers of its own: for example, in the event the presidential election fails to produce a clear winner in the Electoral College, the House of Representatives itself elects the next president, according to the 12th amendment to the US Constitution.

In the event the president or another elected official is suspected of having committed a crime, as happened in 2019, the House acts as a "grand jury" of sorts, gathering evidence to make a case and then impeaching the official if they feel it necessary. The Senate then handles the trial itself as several House members form the prosecution.

https://sputniknews.com/us/202011041080983713-democrats-to-retain-control-of-us-house-nbc-news-projects/