Indecision

 A few weeks past, we told you that there were no more sellers. We called the turn. Last week, we suggested that there were no more buyers. It appears that we were right on the calls.  Now, what do we "C"?

Sideways

The market is showing a convoluted chart. It is a consolidated pattern except there are two ranges. A range within a range if that is clearer. You can understand the price pattern if you observe two sectors, the chips and oil. Why, you ask?

Because chips led the market up and presently, oil is showing its value and impact. The SMH chart reveals the consolidation picture. The top is 250 and the bottom is 215. Oil's picture shows the strangeness in charting and in relationship to the market, a dichotomy. The daily chart says oil is in a downtrend. The weekly chart says oil is still in an uptrend. There you have it. 

Our Decision

We based it on two indicators. The first is volume. The market always has higher volume on down days than on up days. Last Friday was option expiration day and the volume was strong. The second is a basic rule. A weekly chart is a more powerful tool than a daily chart. When you combine these two aspects, the market is looking to touch its first bottom range within the two price ranges.  

Other Factors

The chief one at present is King Dollar. It reversed again. It could touch its high. A strong dollar causes inflation around the world. It acts like a rate increase to the global community. They need to purchase dollars to do transactions in commodities. The stronger dollar makes their currency buy less. Inflation is an unseen tax. It hurts consumers everywhere. There is one dangerous backlash with a strong dollar. It does give reprieve to American consumers, but jealosy and anger in foreign nations. The BRIC nations will use the opportunity to call for the end of the dollar as the world's reserve currency. With our unpayable debt, if this ever happened, the US would be a third world nation. The BRIC's are Brazil, Russia, India and China. Dear Reader, that is a lot of the world's population. At present, the market is overlooking this danger. The IMF is not. It already has a new world reserve currency ready to roll. When big money addresses all these and other concerns, you can easily see the market will be range bound until the next Fed meeting.   

Down the Road - Winter-time

The biggest problem will be in Europe. They should have realized their dependence on Russian oil years ago. It is water under the bridge. They should have begun infrastucture for LNG years ago. It too, is water under bridge. Russia wants payment for their commodity in rubles. They should placate the commies, but they should begin to address the oil/energy question. This winter that quesstion will lead to an answer. The real answer is to begin to use their Western allies and create a new energy flow to keep people warm and factories humming. In the meantime, they should throw out this thought to the idiot warmongers in Moscow. When your country has a food famine problem, and you know that you will get one, don't look to us when your nation is starving. I can see a day when the Red Chinese Communist betray Russia just like Nazi Germany. When that time comes and they want to be our friend again, let them stew before we throw them a life-perservor.       Peace.

Inflation: Just in Its Second Phase

When the government revealed its inflationary report for July, it set a lot of things in motion. The market bulls took courage. Presdent Biden stroked his declining approval numbers. He had many reasons to smile. He got good legislation with the Chips Act. He bullshitted the Inflation Reduction Act by declaring it lowers our national debt. How can you reduce debt when you spend in the trillions and reduce in the billions? The Federal Reserve pointed to their policy with a self-pat on the back. Biden added that gasoline declined from over $5 per gallon to less then $4. Oh yeah, after the inflation report, the government said the unemployment rate dropped to 3.5%. Like George Harrison sung, "Give me peace..."

The Way We See It

The market rally is already running out of steam. Up volume is declining rapidly. Just like there were no more sellers in the decline, now, there are no more buyers. Since the market mirrors our economy on many levels, investors are getting second thoughts as data slowly paints a picture of a declining economy. The unemployment claims rose another 14,000 to 262K. Keep in mind that hundreds of jobs like a waitress, realtor, any self-employed and people working off the books are never counted. This runs into the millions!

Previously, we indicated the market could touch 34,000 in the Dow. It did. However, the turn is developing. The government controls the media and it is spooning positive developments in the economy. I think everyone heard the gas news? This is allowing the Federal Reserve to change its tune on inflation. It should read "toon" because the Fed is a cartoon joke except we are the "punch"-line.

We already told you that we believe the Fed will blink. The first sign appeared last week. Fed members were saying, inflation will drop to 4% by the end of the year. There is no need for another three-quarter rate hike. At best, maybe one-half and possibly only one-quarter? Dear Reader, when inflation emerges, it comes in cycles. Generally, there are three or four.

Why, you ask? Because the price increase has to effect your business. If labor rises like it did after COVID, your costs go up. If you are dependent on short-term loans and rates rise, your costs just went up. In some cases, you might end up closing your doors. Last week, our piece informed you of the many firms cutting back or closing locations. These events get very little to no national coverage. The next inflation cycle has already made its presence. You may think that when gasoline declines, it is good for everyone. Not true due to the many other uses that oil is transformed.

Deisel

I never want to follow a deisel vehicle on the road. The pollution is unbearable. However, until society can develop technology that has the strength to carry large loads, run big machinery and do it economically, we are stuck with deisel. With that said, deisel is the quiet locomotive in our economy. Long and short haul drivers depend on it. Almost every piece of farm equipment runs on it. Many factories still use it. Shippers still use it. Quess what? There is not enough deisel fuel to go around. All of the above are paying $5.13 per gallon. Granted, the price was even higher, but that is just a little relief. All of the above are paying $1.62 a gallon more this year than last. This should tell you that inflation isn't going anywhere soon. The war in Europe and its dangers are not helping the situation. 

Velocity of money? How About the Velocity of Inflation? Effects?

Everything eventually ends up on a truck. The price increase for fuel will be contagious to all businesses. Last week, many companies announced lower forecasts due to costs like chip leader, Nvidia to the retail king, Walmart. Amazon reported lower income, but the market has yet to punish its share-price. The media does from time-to-time offer tidbits in regards to inflation. A little blurb said the average new car costs rose to $62,000. We already mentioned the new Ford F-150 will run you a mortgage at $97,000! Ouch! No! Double ouch!! When harvest time comes, farmers will feel the whammy again. They got a taste when they planted. The real problem for consumers is the middle-man. He will raise prices to which the supermarket will follow. The Fed calls for 4% inflation by the end of the year is just another proof that they do not know anything. Blowing up a bridge does not make you an engineer. And yet, guys who never had to work for a living, think that they can engineer an economy. It is like their previous call on inflation. It is just "transitory". Idiots! Get Real! Inflation will touch 10%. This is another example why we should End the Fed!      Peace.

Bottom? Don't Think So

- "In a time of challenge, you find out what kind of person you are." 

JFL

It also reveals things about people that you might have wondered about. The media showed an abundance last week. The pundits and shills declared the bottom in the market has passed. These people are anything but honest. You can't trust them because they are like trains. They have loco-motives. They are always bullish as is the market's tendency. There meme is "buy the dip!" 

There are other reasons. If the market surges, they can get out of positions and then, leave you holding the bag. People who offer warnings are relegated to backside press or given negative labels like Dr. Gloom. There are as many reasons as people, but there is a majority that seek notoriety by making a call that will draw attention. They could even get to write a book and make a fortune off the prediction. However, these calls won't justify that level of compensation. The only real pain is by ordinary citizens fighting inflation. Neverthelss, these bulls have control of the market in the near-term. The downside price action ran out of sellers. It ran out of gas. The easiest move of less resistance is up. It should run out of juice around Dow 34,000. Dear Reader, you can bank on the market at least testing the lows of June at 29,700. The market had too much volume at that level. At that time, the down volume was twice the amount of the present up volume. With that said, consider these aspects.

Jobs Report (572,000)

It was off the charts. One reason was many women returned to work. Also, keep in mind the report that we previously mentioned, about workers taking on second jobs to make ends meet in this inflationary environment. Among the jobs created, 92,000 were second jobs. Within the number, the largest segment (384,000) were part-time labor. The media did not report in fair reporting the other side of the picture. It relegated the news to sound bytes. We don't. Our economy lost 71,000 full-time employment. Here is just a sample of firms that are laying people off or no longer hiring. The picture gets added to the dots of unemployment claims to which is now in an uptrend.

Layoffs 

Amazon: (quality job) shrinks staff by 100,000.                                                                                          Oracle: (quality job)   announced layoffs, but gave no number.                                                                  Neenah Foundry: Metal works (quality job) also announced layoffs, but gave no number.                        Ford: (quality job) 580                                                                                                                                7-Eleven:   880          JP Morgan:  1,000        Compass:  450        Redfin:  6%    Carvana: 2,500              Coinbase: 18%          Reef:  750     Robinhood: 300    Tesla:  229    Vimeo: 6%    Re/Max: 17%              Pelotin: 2,800    Noom: 495   Rivian: 5%    Thrasio: 20%    Wells Fargo: won't reveal number                Cameo: 87     Pay Pal:  83     Gorillas: 300      Netflix:  150    Food 52: 20   Bitter: 4,000            Microsoft and Facebook:  instituted a hiring freeze...Many more that won't reveal the number like Zulily, Latch, Click Up and Outside. 

The list grows each day and for these workers, it is not a recession, but depression.  There are various other aspects of things in our society that shows our standard of living continues to decline as well as the value of our dollar.

Concert ticket for $40,000? To see a fat girl sing in Vegas? That is the asking price to see and hear Adele. How about the Boss, Bruce? It will cost you 4 grand. Get Real! Woodstock only cost $18 bucks for three days and had the Who, Credence, Richie Summers, Joe Crocker, Santana and Journey in their early configeration. Jefferson Airplane, Joni Mitchell, Fleetwoom Mac, and on and on until Jimi Hendrix said goodbye. 

How about this stock, AMTD? It was $10 on the 18th of July and now, $2,500 a share with very little earnings!

Can you see how the Fed has destroyed the dollar? Inflation relates to buying power and our dollar buys less. And our two political parties spend, spend and then, spend some more. Our debt is unpayable and the government is desroying free enterprise. Their share of GDP rose from 18% to now, around 30%. They are paying with debt for everything. They add more everyday like phones, internet, student debt, utility assistance, housing assistance and healthcare. Did you know that if you do not show a health care provider on your IRS tax report that you are in violation of the law? You will be fined! The government has shielded Obama Care by providing sunsidies. A day of reckening is coming.

It is great to do things for citizens, but you have to create wealth in order to share it. The rise in government in our GDP shows the loss of wealth and jobs in our private sector. It is why our cry should be the meme of the land, "End the Fed!"       Peace.            

Use It Until...

...its purpose no longer satisfies the need. In our endless campaign against the Federal Reserve, we have touched on the many lies the firm uses to deceive and manipulate, including the most recent version. We heard the ex-chairperson, "Yellen" Yellen claim that even though our economy revealed two consecutive quarters of negative growth, we are not in a recession. She puts her claim through job growth and the steady sales from consumers. She even threw out a new version of the word, "transitory" with the nature of inflation. We are in "transition." That is true. The middle-class is bordering to the lower class. The lower class is in poverty. Anyway, she was not alone. The usual shills of the Fed, JP Morgan and Goldman announced a bottom in the selling in the market. Here, at Evolution, our ego was hurt that no one called on us for further predictions as our sad outlook came to fruition. We are not only in recession, but the worst form of economic activity, stagflation. We will make our future call on the economy after the market tests its low. We are in a bear rally.

NBEC

The National Bureau of Economic Research gets the recognized nod to announced whether we are in a recession or not. Their chief indicator is two straight quarters into negative growth to which has occurred.  Keep in mind, the criteria has been massaged countless times to make the Fed look good. Even with the Fed's matrix formula, our economic problems are mounting. This group has the Monday Morning Quarterback situation on their side. They get to make the call when the game is over. We, at evolution made our call over a year ago. Now, we will "call-out" Yellen on her job growth claim.

Demographics...

...is a central cog in any economic growth pattern. You need workers to manufacture product, to ship product and to sell the stuff. COVID-19 reminded the rich about ordinary people. Many are still missing in this so-called recovery. Then, came supply issues and price explosion. Inflation actually helped in one way. Retiring workers became fearful of it and they have continued to punch the clock. However, we all suffer from it. Now, the size of our nation with 330 million people has a natural addition to the economy. When kids turn eighteen, they begin to look for work either part-time or fulltime. So, every June or there about, our nation has 150,000 who might seek work. Yellen proudly says, "Our economy added 372,000." Dear Reader, you have to subtract 150K from any figure to really see the growth number. Now, over 200,000 jobs is really still a good number, but we told you about a report that shows two-thirds of these jobs are taken by someone who already has a job. They need the extra income to make ends meet. Congress never suffers from a balanced budget and that should be the natural law of the land. Anyway, if two-thirds of the 200,000 is a second job, where is the growth? You get the real answer in the job participation report. We are millions away from a strong economy.

Flexible CPI

Ever hear of it? It is an indicator that the Fed uses for inflation, but never discusses. It includes new vehicles, gasoline and jewelry. Guess what it revealed about our present inflation?

"Time has come today..." Sorry, whenever I use the words, time has come, I go into the Chamber Bros. Time is up. 41.5%. Ouch! No! Double ouch!! The kept quiet formula shows a year over year (yoy) with inflation at 18.7%. This is a figure that I can believe.

History Repeats

We get a lot of talk about the expression. Nothing is exactly the same. However, Fibonacci math reveals the similarities. Let us stroll back to the 1970s when inflation threw everyone for a loop.

The Fed chair at the time was Arthur Burns. When asked if the nation was in recession, he said, "No. We have a strong labor market." Powell made the same statement recently.

During the 70s we had three recessions. Each one showed a strong payroll growth prior to each recession. Then, to fight inflation, Burns raised the interest rates or the Fed-Funds rate. Powell is following his game plan.

The first time, it went from 4% to over 8%. Then, Burns claimed inflation licked. The rate dropped to below 4%. Not for long. It rose to over 12% (love to get a bond paying that). Finally, he once again claimed victory only to be defeated by inflation. The rate went from 4% to over 18%. Yes. This is no typo. People, inflation rotates from segment to segment. We are in the second cycle. The first was never recognized, but citizens felt its pain. Food banks know this to be a fact. We will probably get two more inflation runs. So, remember this wisdom on inflation, "Words are cheap, prices are reality."      Peace.

Odds and Ends: July 2022

The only good news is football begins next month. Currently, the market is experiencing a bear market rally. However, we see the shills like JP Morgan and Goldman saying things like the bottom is in and inflation has peaked. Liars and BS artists! In addition, never put any faith in either if they say the precious metals will rally. They will short you and they have deeper pockets. They are the bite dogs of the Fed. They do the dirty work against the precious metals. Isn't it ironic that their brokers always face charges of spoofing against the metals? This market manipulation is cannibalism by the insiders with clout over retail with limited resources. We see the false rally with the leading consultant.

Dr. Copper...

is rising with the tide. We always check with the doctor. We see a Fibonacci test. Some call this price movement a "dead cat bounce." Look at the downside volume. It is way stronger than the upside. To get a better picture, watch the most important commodity, oil. It resisted its low-price test to which was the second leg of the uptrend movement. Oil has very strong resistance at $85. Even in a recession, demand outstrips supply. The inflationary aspects of oil will fluxuate. It will be up one month and down the next. Remember, currency price effects what a nation pays for oil. In the US, oil has slowly dropped in price with the strong dollar. The EU just hiked their rates. Next month, oil wll be cheaper in Europe and rise again in the US. MANIPULATION! The bottom line: oil prices will remain high and this hurts everyone. Inflation is out of the bottle. It will take time to tame, but our poor will suffer greatly, especially with management in the mindset like Chipotle and Amazon.

Other Signs

Little sad things like Russia allowing grain to be exported and then, shooting artillery into the port. In addition, after years of working with the US and other nations, Russia is pulling out of the International Space Station (ISS). Of course, no matter where you live, everything cost more.

There are many negative aspects with inflation. One consequence is a slowing of demand. When this appears as it is now, companies cut back production. This translates to layoffs. It has started.

Ford: has announced that it is laying off 8,000 workers.  Lyft dropped 60. Shopify cut 10%.

In a realated aspect, Chipotle closed a store in Maine because the employees threatened to form a union. Our country has a sick history of anti-labor and wonder why crime rises in times of distress?

This is easy to see and know, but there are subtle ways to see this type of action. Look at part-time labor hours. Watch full-time wage workers. Little by little, hours are cut. There are other ways like who is hiring. We find that Apple, Google and Amazon froze applications. Then, there are seasonal cuts. After Labor Day, airlines drop people. The same thing happens with the hospitality industry. Finally, check the unemployment claims. They rose dramatically last week! As for the unemployment rate, it is deceiving. A study shows that two-thirds of workers already holding one job, took a second to make ends meet. Keep in mind, words are cheap and they won't put food on your plate.

Always Happens...

at the end of a boom cycle. When rates rise, bottom lines change. Many zombie companies are kept a going concern by rolling over their debt to keep in operation. With rising rates, some stoop to fraud. Some were commiting fraud all along. We are hearing and seeing the first stories in China. Chinese citizens awoke last week to the rumbling sounds of tanks appearing before some banks. Stories leaked that these firms had serious liabilities. The banks froze all customers accounts. No one can get access to their money. At the moment, there is no liquidity in the Chinese banking system. I do not think that their banks have a program like FDIC? Authorities stated that they will try to cover deposits in smaller accounts. However, larger ones can only cross their fingers. This begs the question. Does the Chinese AI camera/control credit rating system have a bad report on the banks?

It is not just in China. In the US, Robinhood is in distress. Its meme stocks are under the gun. They were fortunate to receive a bailout, but it is not over. Robinhood wants their customers/clients to lend them your shares. They do not give a reason for or what they will do with them. They offer a income/dividend for them. We think this is a cover for trouble and fraud. Beware!

Related Aspect - Evergrande...

remember the piece we did on the Chinese real estate developer? Well, they made the news on Monday. Executives did a mass quitting just as another loan payment is coming due. Add to this the present contagion in China of homeowners refusing to pay their mortgages. We see a financial debt problem that could become contagious.

Speaking of AI

Facial recognition has been proven unreliable. Just because a computer says something that does not make it true. AI is like a lot of inventions. Companies rush it to the market for profit even though the programs are not fully researched. Microsoft put out an AI called TAY. It lasted less than 24-hours. Why, you ask? It turned into a racists, biased system through human interaction. Like all computers: What goes in, comes out. We, at Evolution are not against AI. When done correctly like in medical, the results are great for all concerned. When integrated with robotics like in car manufacturing, super results. When used for totalitarianism, the results are disasterous. 

Speaking of Totalitarianism

Last month, the media did not cover this chilling, scary blurb from Chins'a Foreign Ministry that declared de facto sovereignty over the Taiwan Strait. This is the waterway separating Taiwan from China. The US says it is an open waterway. The stupid idiot continues his mindless chant by saying, "We will go to war over this point." Our navy purposely passed through it three times. Trouble is brewing. Behind the scenes, it is over chips. They are in everything and the warmongers know it. Do either of these idiots in either military ever think that they could destroy the world over a chip to gain control if a war breaks out?    Somehow, someway, try to find Peace. 

Now, Have you Seen Enough?

Milton Friedman? Ever hear of him? He was a great economist. He won the Nobel Peace Prize for economics. His birthday is 31st of July, although he will not be mentioned by the media and especially, the Fed. Why, you ask?

Great question. First off, his studies were honest, especially courageous. His conclusions go against the Federal Reserve, Big Government and their thinking as expressed by the elite who favor a New World Order (NWO). He championed individual rights and free enterprise. It is no wonder that he was never considered for the Federal Reserve. He would not sellout like Alan Greenspan. Did you know that a young Greenspan wrote a manifesto on GOLD? He showed in his thesis why it is the best currency for a stable economy. It is true, power corrupts.

Today...

we all are suffering from the effects of inflation. This blog is too small to get into all the ramifications of how it comes about and ways to derail against it. We are forced to enlist phrases like, "bottom line" to sum up a position. Friedman understood that like our Founders. In a free democratic society, citizens have responsibilities. For our part (not this blog), we have failed. It is getting harder with fake news. The basic idea of Milton Friedman in regards to inflation can be summed up as: the excess printing of money. He said, "A budget deficit is inflationary if, and only if, it is financed in considerable part by printing money."

Everything Is Financed By Debt

This is one of the major crimes of our government. Republicans will be fast to say, "See, all those unfunded programs by the Democrats is causing inflation." They are liars! The Republicans do and did the same thing when they had the majority. Both of our political parties are corrupt!

The government spends money that it does not have. The Federal Reserve backs them up by buying whatever debt that they produce. The Fed has been creating money from nothing in excess of 10% annually, while our GDP only grows by 2%. This is destruction of the dollar. Do not be fooled by the current rise in the dollar. There are many reasons like higher interest rates, world-war fear to find a safe place for your money or just currency manipulation. You buy and sell currencies. Your profit for traders is riding the trend in King Dollar. We, at Evolution have told you to watch the dollar. It is disrupting global trading. The real value for the dollar is probably .74 cents. Sad, but true. The Federal Reserve is the cause for inflation, but they do not take the blame for their actions. There are consumer examples everyday like the new Ford F-150. It only cost $109,000. Are you kidding me!? This reflects the destruction of our dollar and our standard of living.

Bigger Danger - 2nd Opinion

Ever hear of Edward Griffin? He wrote the book about the secret formation that became the Federal Reserve. He recently came out to express his new fear concerning the Federal Reserve. He says, "They are purposely destroying the US Dollar."

We, at Evolution always have this same fear. It is why our standard of living keeps declining. Our government talks about economic growth, but their formula is both corrupt and manipulated. How can you have growth when for example, you do not account for the sins of that growth? What I mean, you have shale well. It puts dangerous chemicals in the mixture to extract oil. That danger goes to our water supply, but there is no accountability to this aspect. Drug companies drain their harmful residue directly into the toilet to which goes into the water sytem. See, what we mean? Then, their inflation matrix does not include the three things that everyone needs everyday: food, energy and shelter. Manipulation!

Milton had some other insights. We have collected a few to remind you that good people are pushed aside for the sellouts, the shills and same old, same old. Ever wonder why this blog that called every economic happening correct is never recognized? We do, too?

Milton said, "Nothing is so permanent as a temporary government program (example: think TSA)."

Society is stressing in education for class teamwork, however it is always an individual in pursuit of self-interest that achievements are made for civilization. Milton adds, "If you put the federal government in charge of the Sahara Desert, in 5-years there'd be a shortage of sand." In keeping the current teaching trend, Milton says, "If you put equality before freedom, you will get neither." Good old Ben Franklin said something similar. Keep in mind Milton's dangerous fear of inflation, "It is a form of taxation that can be imposed without legislation. It has always been a result of a rapid increase in the quantity of money and every deflation by a decline in the quantity of money"

NWO...

hate him because their equality agenda is a form of communism. Their rule is concentrated power to which Milton says, "Power is not rendered harmless by the good intentions of those who create it." 

The man favored classical-liberal philosophy of minimal government (See how modern conservatives lie about the real use of the word, liberal?), the rule of law, individual rights and responsibilities. He is a GIANT! To which we add our meme, "End the Fed!"     Peace.

Asset Reset

Last week King Dollar broke out of a multi-year trading range. The bottom was $.89 and the previous top was $1.0396 in March 2020. There are two points within this data. First, the currency moved in a large price action. Currencies do not move like this. Second, the breakout was decisive. On Friday, the dollar closed at $106.82. Currencies trend to move like slow, large boats. Think Titanic. In addition, they do correlate to interest rates. Our rates are rising and the dollar is coming along for the ride. 

Effects Everything

First off, the stock market hates a strong dollar. Since everything has been outsourced, the currency exchange eats profits. This is foremost to the market trending down. The second part of the whammy is interest rates. Rising rates cost firms that reply on cheap money a question of survival. These CEOs did not reinvest in their product or company. They squandered profits on buybacks to raise share prices and enrich their retirement options. We are faced with weak leaders in industry and poltics. 

Then, we have the geopolitical problems like the Russian/Ukraine war, China and soon, a global food crisis. These fears are also coming into the equation. This is why the "R" word, recession is in the air. With a recession, layoffs come. Our nation and many in the world are just getting back on their feet from the pandemic. For example, there are over 8-million people in the US who are behind on their rent. Being back to work and the stimulus got them pass the danger. Now, if a recession hit, a chain reaction could hurt everyone and everything in our economy. People would fall behind again on rents or mortgages. A consumer slowdown means less need for product. It also means less building (read less copper, materials, etc.) less gasoline (read lower demand and lower prices for oil). Both big purchases like houses and new cars will shrink. Even small pleasures like cable, eating out will suffer. This is how the chain connects. When you barely make ends meet, you have nothing to give to food pantry's or for nations in deficit to export charity to countries in need. It effects everything!

Precious Metals

Gold and silver have been taking it on the chin. The contagion is now moving to oil, copper and other commodities. I think there has been manipulation against the precious metals. With inflation roaring, they should be approaching $2000 per ounce for gold and $30 per ounce for silver. It could get worse. Time will reveal all the lies, especially with central bankers. There will be excessive heat to hold onto your metal holdings, but what goes up must come down. The dollar should only be worth $.74, but the same could be said about the euro, the pound and the yuan. We are in a financial reset.   Peace