Gaming stocks are taking a beating. Wynn Resorts dropped nearly 10% in one day… and Las Vegas Sands has plummeted more than 14%. This isn’t the market at work… They’re just the latest victims of the ever-growing War on Cash.

The Palm Beach Letter’s Teeka Tiwari says the Chinese government has slashed by half the amount of money Chinese gamblers can withdraw from ATMs… And the policy is draining the pockets of casinos in the gambling mecca of Macau.

“Big T” says it’s just another example of governments tightening their grip on your financial freedom. In today’s must-see 3-Minute Market Minder, Teeka shares what steps you can take so you won’t get caught in the carnage.

(After you watch the video, check out Teeka’s favorite “hedge” asset against the War on Cash right here…)

https://youtu.be/yNJXhtfcTzI&w=650

TRANSCRIPT

Hello, friends, and welcome to Big T’s 3-Minute Market Minder. Today, I want to give you some background about the absolute shellacking that’s been going on with gaming stocks. You can see here, Wynn Resorts, down from this $104 level to $90. It went from $102 to $90 in a day.

Las Vegas Sands went from $63 and change, right up near its new high, down to $54 in a day. That is a massive drop. You might be asking yourself, “What is behind this drop?” and it’s all to do with a new policy in Macau that’s being driven by the Chinese government.

The Chinese government has slashed in half the amount of money that Chinese gamblers can pull from their ATMs. Now, they use something called UnionPay card, and holders of this card have basically been told, “Hey, you can only take out half the amount of money that you could previously take out before.”

Now, why is it a big deal? It’s a big deal because 50% of the gamblers in Macau—that generates $30 billion a year in revenue—50% of them use this UnionPay card. Now, this is money that belongs to these Chinese citizens. This is not stolen money. This is the government coming in and saying, “Hey, we don’t want you spending your money,” or “We don’t want you moving your money.”

It’s just another form of capital controls. Friends, the War on Cash is here. It’s not just some weird, out-there, fringe idea. It is a very real global policy that is only going to continue to get worse. So, again, the key takeaway from today’s story is that you must position yourself. To put yourself in a position where, if we see these kind of rules happen here, that you’re not caught flat-footed.

So, what does that look like? That looks like having a bit of a cash hoard. Fives, tens, twenties, maybe even hundreds. So when the times comes, when they limit how much you can take at a time out of your bank, it’s not going to be a concern—you’ll have some cash.

Diversify just a little bit into some gold. I’m not saving you’ve got to go crazy, but owning a little bit of physical gold and a little bit of silver isn’t nuts. On my desk right now sits a hundred-ounce bar of silver to remind me, in real terms, what real money looks like.

And of course, you know I’m a huge fan of cryptocurrencies, specifically bitcoin. If you own it the right way, it is completely anonymous, it is completely portable… and I’ll tell you, should we see the level of the attack on cash occur in the United States that we’re seeing in other parts of the world, and I believe we will, then you will see things like gold, things like silver, and things like bitcoin just absolutely skyrocket. Absolutely skyrocket.

So again, remember, the time to position yourself before a disaster is before the disaster, not after, because the opportunity will be gone. Gold prices will be much higher, silver prices will be much higher, and, of course, bitcoin prices will be much higher.

So, again, I’m not suggesting you go out and you leverage yourself to the hilt to put on some of these chaos hedges, but I’m suggesting that you own a little bit. Because there is a change in the air, and it is coming. You can blind yourself to it if you want, but I’ve got to tell you, you’ve got to open up your eyes and you’ve got to be aware that the world as we know it, and cash as we know it, is under attack.

All right, friends, that’s enough out of me. I will catch up with you in the next video. And I want you to always remember: Let the Game Come to You!