Jason Burack of Wall St for Main St and new co-host, Phil Kennedy of Kennedy Financial https://www.philipkennedy.com/, are back for Episode #42 of Welcome to Dystopia. In today's episode they discuss if the European Union & the Euro currency was a bad idea from the get go? Was the EU a brainchild of the globalists and the US' CIA? https://www.telegraph.co.uk/business/2016/04/27/the-european-union-always-was-a-cia-project-as-brexiteers-discov/ Jason and Phil discuss the latest European banking crisis. This time the problems are in Italy, which according to top respected institutional bank analyst, Christopher Whalen, who was recently in Paris for conferences about European banks, Italian banks have around a 30% non performing loan book https://www.theinstitutionalriskanalyst.com/single-post/2018/05/21/Debt-Deflation-Italian-Style Jason and Phil talk about how basically since the 2008 financial crisis the Federal Reserve has been helping to keep the EU, ECB and European banks alive with trillions in currency swaps and how the ECB after Mario Draghi's "Whatever It Takes" speech almost 6 years ago, the ECB changed its bylaws to enable itself to start doing massive amounts of QE in the last few years to covertly bailout its banks. After only a few years of QE, the ECB's balance sheet is almost to $5 trillion US Dollars already and larger than the balance sheets of the Bank of Japan and the Federal Reserve. But, this won't be enough to fully save all the Italian banks and banks like Deutsche Bank, which just laid off thousands more workers and sold one of its most profitable businesses for cash to delay bankruptcy. Next, Jason and Phil talk about the recent George Soros speech where he is predicting another financial crisis soon that this time starts in the EU. https://www.zerohedge.com/news/2018-05-29/everything-has-gone-wrong-soros-warns-major-financial-crisis-coming But, Soros is blaming populism and nationalism for the upcoming crisis when in actuality he and his fellow globalists have forced radical changes on Europe for decades and he won't take any responsibility for the problems there now. Jason also talks about the very large problems underneath the surface in China. Despite strong government economic data, a second former PBOC official just made a dire warning about China's economy http://www.scmp.com/news/china/economy/article/2146096/chinas-financial-risk-greater-official-numbers-suggest-beijing On top of this, China's social credit score system, which has already affected 15 million Chinese from flying on planes or riding on trains https://amp.businessinsider.com/china-social-credit-system-blocked-people-taking-flights-train-trips-2018-5 is about to ramp up in the next 3 years and become even more draconian! https://www.cnet.com/news/china-turns-to-tech-to-monitor-shame-and-rate-citizens/ To wrap up the show, Jason and Phil talk about what's going on with the US Dollar Index (Hint: A Weak Euro will mean a strong US Dollar at least in the short term) 10 year US Treasury yield, gold, silver and crypto currencies. Is gold about to rally a lot despite a rally in the US Dollar Index? https://www.sprottmoney.com/Blog/gold-to-rally-on-data-not-hope-david-brady-gold-news.html US DOJ Opens Criminal Probe into Bitcoin price manipulation: https://www.cnbc.com/2018/05/24/us-opens-criminal-probe-into-bitcoin-price-manipulation-bloomberg.html

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