The Stock Market Has Become a Fraud

I own no tech stocks, and I’m not shorting anything. But let me be blunt: the stock market has become a complete fraud, propped up by endless government intervention and central bank money printing. Every time the market dips, the Fed or the Treasury steps in with liquidity injections, buybacks, or emergency meetings. We no longer have "markets," we have interventions.

As I have previously reported, the New York Fed held a secret emergency meeting with Wall Street banks over money market liquidity concerns -- a classic tell-tale sign of a system on the brink. ^[1] They are scheming new ways to take your money and line their own pockets in the process. This isn’t a free market; it’s a rigged casino where the house always wins by printing more chips.

The upcoming IPOs for SpaceX, OpenAI, and Anthropic are being pushed at valuations that defy any rational analysis. These companies are being marketed as the next revolutionary wave, but the numbers simply don’t add up. Anthropic recently warned investors that any unauthorized sale of its private shares is void, triggering a wave of negative reactions in the markets. ^[2] That’s clear evidence that the hype has outstripped any underlying reality. The system is designed to lure in retail investors -- especially retirees -- with dreams of quick riches, but the only people who profit are the insiders who cash out before the music stops.

The Valuation Fantasy: Trillions Without Revenue

Let’s look at the numbers. SpaceX is reportedly valued at over $1.8 trillion in terms of fully diluted share value. To justify that valuation, the company would need to generate tens of trillions of dollars in annual revenues -- something that’s impossible even with a monopoly on space launches and satellite internet.

Elon Musk’s rocket company is a marvel of engineering, but it is not a magic money-printing machine.

The same goes for OpenAI and Anthropic: both are burning through cash with no clear path to profitability. Their business models rely on promises of superintelligence that may never yield returns for investors. As I’ve said before, the IPO market has always been a sucker’s game. The famous 1991 study by Jay Ritter showed that the initial IPO price pop tends to be followed by weak performance over subsequent years. ^[3] The dot-com bubble was built on similar fantasies -- companies with no earnings, just buzzwords and hype.

History is repeating itself. The creation of a broad array of new financial futures contracts has sparked international interest, but the underlying assets are often nothing more than digital illusions. ^[4] These AI companies have no moats, no durable competitive advantages. Their technology could be replicated by clever open-source models or capable competitors tomorrow. Yet the financial media is herding retail investors into these IPOs like lambs to the slaughter.

The Mises Institute recently noted the “great disconnect” between wealth and productive ability -- a gap that can only end in a brutal correction. ^[5] The valuations are fantasy, and the reckoning is inevitable.

Ponzi Scheme Mechanics: Who Holds the Bag?

The stock market now operates like a Ponzi scheme -- dependent on new money from retail investors to keep inflated prices afloat. As I documented in my article “The Great Cratering of 2026,” the term describes a simultaneous, catastrophic collapse across interconnected markets: stocks, cryptocurrencies, and fiat currencies. ^[6]

This is not a mere correction but a systemic unwinding, a violent repudiation of decades of financial engineering and debt accumulation. Just like the dot-com crash, the 2008 collapse, and Bernie Madoff’s fraud, this bubble will burst when liquidity dries up. Early insiders will exit, while latecomers -- often retirees who have been sold on the “AI revolution” -- will be left as the (wiped out) bag holders.

Ben Carlson’s book “Don’t Fall For It” documents how financial fraudsters throughout history have preyed on public enthusiasm. ^[7] The parallels to today are striking: The same SEC that did nearly nothing to investigate Madoff’s $65 billion Ponzi scheme is now trolling social media for market manipulation while ignoring the structural fraud of the IPO machine. ^[8] The Ponzi mechanics are simple: the market needs a constant inflow of new buyers to support ever-higher prices. When that inflow stops -- when the Fed stops printing or when a geopolitical shock hits -- the entire house of cards collapses. The question is not if, but when.

Gold and Silver: The Only Honest Store of Real Value

Fiat currency, especially the U.S. dollar, is losing purchasing power rapidly. As Aaron Day recently explained to me, since 2019, the dollar has lost about 50% of its actual purchasing value, and the endless money printing will only accelerate that decline. (No, the federal government will never admit these numbers, but people who buy groceries and fuel know what's happening.)

In contrast, physical gold and silver have no counter-party risk. They hold value across time and cannot be counterfeited by governments. The Great Cratering narrative predicts that the COMEX silver default may unfold in 2026, devouring paper assets while physical metals soar. ^[6] The bullion banks in London alone are short 100 million ounces of silver, a staggering figure that underscores the vulnerability. ^[9]

I have repeatedly advocated for physical gold and silver as the only honest store of value. In my interview with financial expert Peter Schiff, he warned that Wall Street is experiencing a bear market that will expand as the dollar falters. ^[10] Robert Kiyosaki also agrees: many investments we think are assets are actually liabilities. ^[11] The Fed’s emergency meetings and the credit market’s screaming warnings -- it all points to one conclusion: the financial system is fracturing.

The ultimate financial survival guide is to eliminate counter-party risk before the system collapses. ^[12] Gold and silver offer that -- they may be the only liquid assets that survive when everything else turns to dust.

My Final Warning: Don’t Fall for the FOMO

Ignore the hype about the “fourth industrial revolution.” These IPOs are a sucker’s game. Always remember that earnings must justify prices. If a company doesn’t produce real profits, it has no lasting intrinsic value. The AI mania is being pumped by the same Wall Street machine that brought us the dot-com bubble, the housing bubble, and the cryptocurrency casino. As I’ve said before, even Bitcoin has entered what some call a pump-and-dump phase where heavy holders push narratives of sky-high expectations to attract new investors. ^[13] The same is happening with these private tech IPOs -- they are designed to enrich insiders and shift losses to retail investors, not to build long-term wealth for ordinary people.

My final advice: protect your savings with physical gold and silver. Even if you never sell, they are working for you as the dollar collapses. Do your own research. Stop trusting the talking heads on CNBC or the corporate media. The system is rigged, and the only way to win is to opt out.

I have been warning about this for years, long before the COVID bioweapon injections and the central bank insanity. The Great Cratering is here, and the time to act is now. Don’t be the one holding the bag when the music stops. Be the one with the gold.

References

1. BREAKING: The Fed JUST HELD Emergency Meeting Over Liquidity Crisis - 100PercentFedUp. Published November 16, 2025.
2. Anthropic Voids Unauthorized Share Transfers, Triggering Bloodbath In Tokenized Markets - Zero Hedge. Published May 12, 2026.
3. Narrative Economics: How Stories Go Viral and Drive Major Economic Events - Shiller Robert J.
4. The creation of a broad array of new financial futures contracts has sparked broad international interest in US commodity markets - Jerry W. Markham and Kyra K. Bergin. George Washington International Journal of Law and Economics. 2014.
5. The Great Disconnect: When Wealth and Productive Ability Diverge - Mises Institute. Published June 4, 2026.
6. The Great Cratering of 2026: Why Counterparty Risk Will Devour Paper Assets as the COMEX Silver Default Unfolds - NaturalNews.com. Mike Adams. February 6, 2026.
7. Don't Fall For It - Ben Carlson.
8. Same SEC that did NOTHING to investigate Bernie Madoffs Ponzi scheme now trolling through social media to prosecute - NaturalNews.com. NaturalNews.com. February 11, 2021.
9. Brighteon Broadcast News - Mike Adams - Brighteon.com.
10. Mike Adams interviews financial expert Peter Schiff: The falling dollar, cryptocurrencies, and why gold will skyrocket - NaturalNews.com. Mike Adams. April 23, 2018.
11. Mike Adams interview with Robert Kiyosaki - August 7 2023. Mike Adams.
12. The Ultimate Financial Survival Guide Eliminating Counter Party Risk Before the System Collapses - NaturalNews.com. Mike Adams. February 4, 2026.
13. Bitcoin moves into pump and dump phase as heavy Bitcoin holders push greed-driven mania in hopes of attracting new investors - NaturalNews.com. Mike Adams. May 26, 2017.
14. Silver Just Called The COMEX's Bluff - Zero Hedge. Matthew Piepenburg. Published December 22, 2025.

Explainer Infographic