(left: The State Media: ‘don’t panic’)

Let nobody tell you the current financial meltdown is about ‘the Corona virus’. The Collapse began September 27th last year, when the repo market’s interest-rate spiked to 10%. That’s a sign they stopped lending to each other (like in the 2008 crisis and spiking Libor rates) and the Fed had to restart bailing out the Banks on the repo market every night. They haven’t lent to each other since.

The Fed has also been monetizing most of the massive Trump Deficit. Nobody else is buying Treasuries.

Meanwhile: there is no ‘pandemic’. A handful of oldies are dying of what’s looking like a nasty flu. Their average age of death is 81 in Italy. 79 in Holland. Their numbers are minute: in Holland we’re talking about 40 deaths up till now. Still, the whole country is grinding to a standstill, not because of the ‘virus’…