Earlier today, Jeff Berwick, also known as the Dollar Vigilante, reported a monumental announcement from one of his sources in the shipping industry that exports and sea transport had suddenly ground to a dead halt. This of course validates the ongoing theme that the world is in a global recession, and that central bank money printing has long past its point of diminishing returns.
To double down on Berwick's information, another source created a graphic from real time shipping itineraries and came up with something that is not only historic, but utterly heard of since perhaps the 15th century.
No commercial shipping taking place at all in a given period anywhere around the world.
Last week, I received news from a contact who is friends with one of the biggest billionaire shipping families in the world. He told me they had no ships at sea right now, because operating them meant running at a loss.This weekend, reports are circulating saying much the same thing: The North Atlantic has little or no cargo ships traveling in its waters. Instead, they are anchored. Unmoving. Empty.
You can see one such report here. According to it,
We checked VesselFinder.com and it appears to show no ships in transit anywhere in the world. We aren’t experts on shipping, however, so if you have a better site or source to track this apparent phenomenon, please let us know. – Dollar Vigilante
At this point, we await CNBC with baited breath to report an actual financial news story like this one.
We are still waiting...