Gold / Silver / Equities / Energy Markets Are Beginning To See COVID-19 Is NOT “Just the Flu” by Rory for The Daily Coin
Now that coronavirus has escaped China and is beginning to sound alarm bells around the world the markets are no longer reflecting a unicorn and rainbow filled situation. The whole it’s “just the flu” nonsense is now being exposed in places like Iran, the Korean peninsula and Italy. Wait till the CDC and U.S. federal government can no longer lie to the American people about what is happening right here in the U.S.. Our guess is there are plenty of active cases and plenty of deaths that have already occurred but have not been reported. Of course, we pray that we are 100% wrong, but who among you trust the government, corporate media and the medical industrial complex?
Some people still see this situation as “just the flu”, well, you should ask the Chinese police or factory workers in Beijing. If it’s just the flu why wouldn’t the workers go back to work? The social credit system in China should be motivation enough to push some people back into the factory, while others, you would think, would be in need of funds for food and other life essentials. I feel confident Chinese people are like most other people around the world and have only a 3-4 day supply of food in their home. Most people don’t think like a pepper and keep months worth of supplies in their home. Most people have been lulled into a false sense of food security and don’t really feel the need to keep months worth of food or other essentials on hand.
Now we know why so many extra cops were deployed to #Wuhan. More than 1K local police got infected with #COVID19
【內幕】湖北公安系統逾千人染疫 多地馳援 https://t.co/znPZkyyqhr via @dajiyuan
— 曾錚 Jennifer Zeng (@jenniferatntd) February 24, 2020
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What are the markets telling us from overnight?
We see the metals are continuing their northern push – is this the beginning of sustained climb higher?
The global economy is on the verge of either stopping or slowing down to a snails pace. If it was coming out of China’s manufacturing base, it won’t be for some months. Workers are now refusing to go back to work in fear of catching the virus. If the workers aren’t working, well, you see the problem right away.
What we see in the metals markets is reflecting what is happening. The reality of the situation is slowly – now picking up pace – coming into view. What will it be like in another ten days when even more reality is slammed in the face of the world?
The chart below shows what is happening, as of 6:16am EST, in the metals markets.
If we look at the broad base of a significant portion of the markets we see an ocean of red with an island of green. My guess is, just like last night when we published Is This What Desperation In The Gold Market Looks Like? this is merely the beginning of some really bad news ahead. Of course we still have the Plunge Protection Team (PPT) and make no mistake about it they will be called into action but will it help? Will the plug be pulled and markets “temporarily closed”?
My guess is the image below reflects the PPT working overtime to keep this as quiet as possible going into the opening. Of course most Americans still believe they are bullet proof and the menace called COVID-19 (coronavirus) is of no consequence to them and their family – of course, they are dead wrong.
Don’t let the green of “VIX” fool you. Green is bad for the VIX, it is currently screaming that volatility is rising. As of this writing the VIX is up more than 13%.
The chart below is as of approximately 6:45am EST.
DJIA – Down – $776 (2.6+%)
S&P – Down – $86 (2.5+%)
NASDAQ – Down – $288 (3+%)