Brief Summary
This YouTube video by Tom Luongo provides a market report, discussing various topics including the Epstein files, Trump's strategies, the Federal Reserve, and the state of global markets. Luongo suggests that Trump is using the Epstein situation as a loyalty test and is strategically managing geopolitical tensions. He also discusses the potential for Federal Reserve reform and the impact of tariffs on emerging markets. The report includes analysis of gold, silver, Bitcoin, oil, and various stock markets, with a focus on understanding the underlying forces driving market movements.
- Trump is strategically using the Epstein situation and geopolitical tensions.
- Potential Federal Reserve reform and impact of tariffs on emerging markets.
- Analysis of gold, silver, Bitcoin, oil, and various stock markets.
Intro and Potential Meetup
Tom Luongo starts by welcoming viewers to the Gold, Goats, and Guns market report. He mentions the possibility of a meetup in North Carolina in September, potentially near Asheville. He encourages interested individuals to send him a direct message on Patreon for more details. Luongo expresses that he intends to keep these meetups small and more regular.
Epstein Files and Trump's Strategy
Luongo discusses the Epstein files, suggesting that Trump is using the situation as a loyalty test to determine who his true supporters are. He draws parallels to Berling games and emphasizes that Trump may be strategically releasing information over time. Luongo notes the alternative media's reaction to Trump's handling of Iran and Israel, arguing that many are missing the bigger picture. He believes Trump is still in control and that his actions are aimed at outing his enemies.
Jerome Powell and Federal Reserve Reform
Luongo asserts that Trump is setting the stage to reform the Federal Reserve, criticizing the Fed's new building and highlighting the need for the average person to understand the Fed's role. He mentions a conversation with Mel Kay about reforming the Fed and potentially repealing or reforming the Banking Act of 1935. Luongo argues that Powell is doing what he should be doing, and if Trump is successful, the economy will remain strong, making it difficult to lower interest rates.
Tariffs and Emerging Markets
Luongo explains that tariffs are working as intended, with tariff revenue increasing and margins being compressed overseas. He suggests that the massive outperformance in emerging markets seen earlier in the year may reverse as companies begin to absorb the tariffs. He advises using price-to-sales ratios when assessing foreign stocks due to differing accounting rules. Luongo cautions against expecting continued gains in emerging markets, predicting falling stock markets and weakening currencies.
Ripple, Bitcoin and the Future of Finance
Luongo discusses Ripple's growing importance and its potential role in moving away from the current financial system. He notes that Bitcoin is being moved into the collateral portion of the Extras pyramid alongside gold. Luongo believes competition between these assets is beneficial and that the goal is to remove US Treasury bonds from their role as pristine collateral. He mentions advancements in Ripple and the potential for new ETFs, as well as the impact of eliminating capital gains tax on crypto.
Global Politics and the Price of Rebellion
Luongo argues that the UK and Ireland are paying the price for rejecting the globalist agenda, pointing to the economic and political turmoil in those countries. He suggests that similar efforts are underway in Canada and the US. Luongo warns that the fight ahead will be difficult and that individuals should prepare accordingly.
Gold and Silver Analysis
Luongo analyzes the gold market, noting that it is trying to determine if there will be greater disruption or if things will work out. He prefers a steady, gradual increase in gold prices rather than volatile spikes. For silver, he observes a stair-stepping pattern towards $40, with bulls playing the market well.
Bitcoin and Ripple Analysis
Luongo notes that Bitcoin has broken to the upside and needs to increase in value to provide more collateral in the new financial system being built outside of central banks. He discusses Ripple's push towards $3 and the potential for new ETFs.
Oil Market Analysis
Luongo analyzes the Brent crude chart, noting a potential breakout and retest. He believes oil prices will not stay in the $60s for long and expects a move back into the $75 to $80 range. He also mentions that as the euro rolls over, it will put upward pressure on inflation in the Eurozone.
Stock Analysis: OHI and Nifty50
Luongo reviews Omega Healthcare Investors (OHI), a healthcare REIT, and discusses its yield and coverage ratio. He suggests looking to buy the stock in the $36 area on general market weakness. He also analyzes the Nifty50, the Indian Dow, noting a double top forming and the potential for margin compression due to tariffs.
Inflation and Market Data
Luongo presents data on inflation, gasoline prices, and the US dollar futures market. He notes that the sofur futures market has moved towards fewer rate cuts this year. He also discusses the US German 10-year spread and the long end of the US yield curve.
Global Market Overview and Dow Analysis
Luongo provides a global market overview, noting political turmoil in Japan and the potential for weak Japanese markets. He mentions that copper prices have risen after tariffs and expects a massive investment boom in copper. Finally, he analyzes the Dow, noting a potential two-bar reversal and underperformance due to overhead resistance. He suggests that Europe may be experiencing a crack-up boom and highlights the European Commission's plans for a large budget with tax and spend authority.
