They’re Coming After Trump

The Gambit to Remove Trump Were you forwarded this email? [Sign-up to The Daily Reckoning here.]( [Unsubscribe]( [Daily Reckoning] They’re Coming After Trump - Trump faces impeachment… again… - The real reason Democrats (and many Republicans) want to see Trump successfully impeached… - Then Jim Rickards shows you why he believes lockdowns will go down as one of the worst economic blunders in history… Recommended Link [#1 Hidden Market Sub-Niche for 2021 REVEALED]( [Read more here...]( Chief Futurist Robert Williams is exposing what could be the #1 place to invest for 2021. It’s a small, hidden sub-niche of the stock market… One with little to no media coverage… But with some of the fastest moving stocks we’ve ever seen. [Get More Info Here]( Portsmouth, New Hampshire January 11, 2021 [Jim Rickards] Dear Reader, The House of Representatives introduced an impeachment article against President Trump today, charging him with “incitement of insurrection” after crowds stormed the Capitol last Wednesday following his speech. If it goes forward, Trump would be the only president in history to be impeached twice. House Speaker Nancy Pelosi said she is giving Vice President Mike Pence 24 hours to invoke the 25th Amendment to remove Trump. If he doesn’t, the House is expected to vote on the impeachment resolution later this week, possibly as soon as Wednesday. Should the House vote to impeach, the resolution would go to the Senate. A two-thirds Senate majority would be required to convict and remove Trump from office. That would require the support of many Republican senators. But the Senate is currently in recess, and current Senate Majority Leader Mitch McConnell has said he won’t call the Senate back into session until January 19 — just one day before Trump leaves office. So Trump would be out of office by the time a Senate trial could take place. Besides, the Constitution only refers to impeaching “the president” — not a former president, which Trump would be. But, Trump would be impeached while still president if it happens before January 20. The trial in the Senate and punishment would take place later, but scholars agree this is probably constitutional. This procedure has been used before for Federal judges, so there is precedent. What is the point of impeaching a former president? Removal from office is irrelevant after January 20. But one of the punishments allowed is prevention from ever holding office again. That's what the Democrats want. Their goal is to stop Trump from running again in 2024. Around 75 million Americans voted for Trump in November (potentially more, depending on the level of election fraud). With those kinds of numbers, it’s easy to see why Democrats wouldn’t want Trump to be able to run in 2024. Neither does the Republican Party establishment, incidentally, which never wanted to nominate Trump in the first place. But let’s return our focus to today... Putting the politics of it all aside, Joe Biden will take office on January 20. Unfortunately for him (and the country), he’ll likely have to deal with a recession right out of the gate in the first quarter of 2021. The primary reason is the resurgence of the pandemic, resulting in new lockdowns throughout the nation. Below, you’ll see why lockdowns will one day be regarded as one of the greatest economic blunders in history. Read on. Regards, Jim Rickards for The Daily Reckoning P.S. Because of what we are currently experiencing, a [perfect storm]( is forming… And it’s causing a near panic for certain investors. You’ll understand why this is so urgent once you [click here and see what I’m sharing on camera.]( I’ve been pounding the table about this for years. And it’s happening right now… I urge you NOT to invest in anything until you see this critical briefing. [Please, click here now for all the details.]( Recommended Link [Are You Ready for the Great American Reset?]( [Read more here...]( According to these two financial experts, something is about to happen that will change America forever… Something they call “The Great American Reset of 2020.” See all the details and the 5 steps they recommend you take now. [Click Here To Learn More]( The Daily Reckoning Presents: An economic disaster… and something worse… ****************************** One of the Greatest Economic Blunders in History By Jim Rickards [Jim Rickards]The U.S. economy lost 140,000 jobs in December. Only about 55% of the jobs lost in March and April have returned. That’s a significant number. Americans and others around the world who make their living as bus drivers, bartenders, waiters, hair stylists and boutique store clerks, among thousands of other jobs, make up 50% of all jobs and 45% of U.S. gross domestic product. This is the part of the economy affected by the lockdowns. They are being destroyed. When the pandemic passes, and we are able to look back on the experience without fear or political bias, it will be clear that the lockdowns were one of the greatest economic blunders in history. Lockdowns do not stop the spread of the virus, but they do destroy the economy. This is not merely a matter of opinion or conjecture. The pandemic has now lasted long enough that we have solid comparative data from all 50 U.S. states and many countries around the world. This data covers states and countries that tried extreme lockdowns, moderate lockdowns or completely voluntary methods that involved no mandatory lockdown at all. The empirical results show that the experience of all of these jurisdictions was about the same and that lockdowns have not “contributed in any meaningful way” to saving lives. In fact, there is other evidence that shows lockdowns killed more people than they saved due to suicides, drug abuse, alcohol abuse, domestic violence and depression. This study on the ineffectiveness of lockdowns was produced by Dr. Jay Bhattacharya, a Professor of Medicine at Stanford University, and his collaborators. One TV anchor who interviewed Dr. Bhattacharya said, “California has the strictest lockdowns in the country and cases there are absolutely exploding. What am I supposed to take from the usefulness of lockdowns?” The fact is that lockdowns do not stop the spread of the virus, but they are very good at destroying the economy. I covered this all in my new book, The New Great Depression. People are social beings and do not like lockdowns. No matter what the rules are, people will find their way around them. And, with or without strict compliance, the virus goes where it wants. I’ve been to the White House on official business numerous times. It’s hard to think of a more locked-down place. It has multiple security perimeters, multiple entrances before one can reach the Oval Office, and numerous security guards. Still, the President and First Lady contracted the COVID-19 virus last October, most likely in the White House itself. As I said, the virus goes where it wants. If lockdowns don’t work, why do public health officials and government officials keep insisting on them? There are two reasons. The first is that academic epidemiologists are just as out of touch with everyday Americans as any other elite group. They sit in their labs and ivory tower offices and have had no difficulty working from home and avoiding routine exposure that other Americans face. They have not lost their jobs or seen their businesses destroyed. It’s easy to order a lockdown when you’re not the one whose job or business is ruined. The other reason is that politicians have to be seen doing something, even if they don’t know what they’re doing. Everyone agrees that washing hands, social distancing and masks in crowded venues make sense. But, that’s not enough for the politicians. They want to appear to be “saving the population” even if they’re just destroying the economy. If you think the lockdowns have been an economic disaster (I do), then get ready for something worse... Recommended Link [Elon Musk Discusses BOMBSHELL New Tech]( [Read more here...]( Elon Musk dropped a BOMBSHELL that could send shockwaves through the tech industry… He discussed this tech behind closed doors… At a private event attended by a small number of tech insiders. Luckily, we had a man on the inside… And in his MUST-SEE presentation, he reveals what Elon Musk talked about, and why it inspired his new prediction… Learn what was discussed – and why my “inside man” thinks it could present a MAJOR profit opportunity as soon as [Jan. 27th](. [Click Here To Learn More]( Two of the top public health advisors in the new Biden administration are Ezekiel Emanuel of the Center for American Progress and Michael Osterholm of the Center for Infectious Disease Research and Policy at the University of Minnesota. Both Emmanuel and Osterholm have long histories of calling for lockdowns during pandemics. In June Ezekiel said, “You have to actually have people at home, close nonessential businesses, stop bars, stop indoor dining, have everyone wearing face masks. These are the things we need to do. ... You need to do it nationwide.” The evidence is clear that lockdowns don’t work. Biden’s health advisors are calling for them anyway. Only an out of touch elite could support shutting down the economy and not realize you would destroy that economy and the jobs that go with it. Meanwhile, the pandemic is giving the government justification to clamp down on civil liberties. For example, Dr. Fauci is now promoting the idea that certain institutions may require individuals to get one of the new vaccines at the state level (though he isn’t sure the federal government will mandate vaccination). Here’s how it could work: When you get the vaccine, you will receive some kind of certification that could be a QR code on your mobile phone or registration in a central government controlled database. If you want to fly, rent a car, send your children to school or do other everyday activities, you will be required to produce your vaccine registration credentials. This method is similar to the “social credit” system used in Communist China to enforce compliance with Communist Party definitions of good behavior. Fauci also envisions “COVID-19 passports” that would be required before certain types of travel were allowed. What Fauci does not mention is that the vaccines are still experimental. They have been approved by the FDA, but this was done on an emergency basis and some acute allergic reactions and even deaths have been reported among those who have received the vaccines. Also, most Americans may not realize that the COVID-19 vaccines are not traditional vaccines that introduce one mild disease in order to build antibodies to a more deadly disease. Instead, these new vaccines work through genetically modified RNA sequences. It’s not clear what the long-term effects of such genetic modification might be. But many elites and government bureaucrats seem perfectly fine with using unsuspecting Americans as guinea pigs. Would you like to be one? New restrictions are one more reason why a new recession is upon us and why any economic recovery will be slow and weak. Neither monetary nor fiscal policy will effectively stimulate the economy. Monetary policy is not stimulus because the new money is going to the banks and the banks simply deposit it with the Fed as excess reserves on which they receive interest. If the money is not being loaned by banks and spent by consumers, it isn’t generating economic activity. Fiscal policy isn’t stimulus because the U.S. debt-to-GDP ratio is now over 130% and rising quickly. Extensive research shows that at debt-to-GDP ratios above 90%, the multiplier on new debt is less than one. This means we’re in a debt trap (in addition to a liquidity trap caused by the Fed). We cannot print our way out of a liquidity trap. We cannot spend our way out of a debt trap. The Fed and Congress may try to stimulate the economy, but they will fail. They’ll only dig the country a deeper hole to climb out of. Regards, Jim Rickards for The Daily Reckoning P.S. Because of what we are currently experiencing, a [perfect storm]( is forming… And it’s causing a near panic for certain investors. You’ll understand why this is so urgent once you [click here and see what I’m sharing on camera.]( I’ve been pounding the table about this for years. And it’s happening right now… I urge you NOT to invest in anything until you see this critical briefing. [Please, click here now for all the details.]( --------------------------------------------------------------- Thank you for reading The Daily Reckoning! We greatly value your questions and comments. Please send all feedback to [feedback@dailyreckoning.com.](mailto:dr@dailyreckoning.com) [James Rickards][James G. Rickards]( is the editor of Strategic Intelligence. He is an American lawyer, economist, and investment banker with 35 years of experience working in capital markets on Wall Street. He is the author of The New York Times bestsellers Currency Wars and The Death of Money. Add feedback@dailyreckoning.com to your address book: [Whitelist us]( Additional Articles & Commentary: [Daily Reckoning Website]( Join the conversation! Follow us on social media: [Facebook]( [LinkedIn]( [Twitter]( [RSS Feed]( [YouTube]( The Daily Reckoning is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Paradigm Press delivering daily email issues and advertisements. To end your Daily Reckoning e-mail subscription and associated external offers sent from The Daily Reckoning, feel free to [unsubscribe here.]( Please read our [Privacy Statement](. 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