The news just keeps getting worse in Hong Kong: daily outbreaks of violence, civil unrest, and an absolute breakdown in the rule of law in what’s supposed to be one of the most stable and important hubs of economic activity and corporate tax shelters. It’s crazy; I was there just a few months ago, admiring their success, but I am 100% with them in this struggle – they should not allow Chinese influence to grow in this free market epicenter.
This is definitely a blow to investors, who were counting on a soft landing to the U.S.-China trade war; the Hong Kong protests are throwing a wrench in the works and making it much harder for the two nations to find a quicker resolution. Seeing Chinese military vehicles converging at the Hong Kong border, I’m certain that the major stock market indices will deteriorate amid protracted anti-government protests and violence.
In their attempts at quelling the emerging insurrection, Chinese propaganda outlets are actually making things worse. They’re the ones who released the video of the military vehicles at the Hong Kong border.
It’s gotten to the point where hundreds of Chinese flights are being cancelled, creating a nightmare scenario for international relations as well as local economies. Reports of protesters throwing Molotov cocktails at police stations are causing newscasters to use the word Terrorism to describe the environment – and Hong Kong leader Carrie Lam is now admitting that recovery from the anti-government protests could take a long time.
Courtesy: Global Times
If Carrie Lam’s press conference was intended to instill a sense of calm and security, it failed miserably. Warning anti-government protesters not to push Hong Kong into an abyss, Lam stated that the city had reached a dangerous situation and that violence during protests would push Hong Kong down a path of no return.
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It was a bizarre sight to see Lam dodging questions by reporters, who shouted and cut her off. And now, 10 weeks into the Hong Kong protests and violence, the damage is done.
Precious metals are the ultimate hedge for these sorts of political and social instabilities. Gold is spiking over $1,520 last week and silver is embarking on an official bull market at upwards of $17.50 per ounce.
Unfortunately, most retail investors will wait and hesitate – they’ll catch the tail end of the bull market, hoping to eke out gains after silver has already rocketed to $20, $25, or beyond.
On the other side of the coin, you’ve got the massively successful billionaires like Ray Dalio, Sam Zell, Stanley Druckenmiller, and Jeff Gundlach: they’re taking positions in precious metals in anticipation of much higher prices.
And that leaves you with a life-changing question: will you choose to move quickly like the billionaires, or wait and watch like the 99% of retail traders who lose money in the markets? Watch the news, see what’s going on in the world, and the answer will smack you in the face: get hard assets now or learn a hard lesson later as the rich get richer and the rest get left behind.
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