James
Turk
of
GoldMoney.com
returns
to
the
program
with
less
than
sanguine
comments
on
the
domestic
economy.
Half
of
25
year
olds
in
the
US
are
living
in
their
parent's
homes,
struggling
to
make
ends
meet.
The
statistic
is
emblematic
of
the
erosion
of
the
economic
affluence
of
the
middle
class.
The
issue
stems
from
lost
purchasing
power
of
the
currency,
resulting
from
profligate
monetary
expansion.
When
income
is
adjusted
for
inflation
and
related
expenses,
most
employees
earn
far
less
than
medieval
serfs.
The
desperation
of
the
situation
is
exacerbate
by
the
off-shoring
of
tens
of
millions
of
high
paying
jobs,
due
to
NAFTA
and
related
policies.
The
persistence
of
gold
backwardation
(current
spot
lower
than
future
price)
should
not
occur,
as
it
presents
an
arbitrage
situation.
Since
2000,
gold
has
appreciated
over
11%
on
average
each
year
and
held
it's
purchasing
power
much
better
than
most
competing
asset
classes.
The
US
dollar
is
lower,
while
stocks
and
bonds
have
hardly
budged
since
that
point,
while
gold
has
ascended
at
least
four
fold,
$250
to
over
$1,000.
James
Turk
of
GoldMoney.com
returns
to
the
program
with
less
than
sanguine
comments
on
the
domestic
economy.
Half
of
25
year
olds
in
the
US
are
living
in
their
parent's
homes,
struggling
to
make
ends
meet
-
the
statistic
is
emblematic
of
the
erosion
of
the
economic
affluence
of
the
middle
class.
The
issue
stems
from
lost
purchasing
power
of
the
currency,
resulting
from
profligate
monetary
expansion.
When
income
is
adjusted
for
inflation
and
related
expenses,
most
employees
earn
far
less
than
medieval
serfs,
who
typically
kept
half
of
their
output
/
earnings.
The
desperation
of
the
situation
is
exacerbate
by
the
off-shoring
of
tens
of
millions
of
high
paying
jobs,
due
to
NAFTA
and
related
policies.
In
addition,
persistent
gold
backwardation
(current
spot
lower
than
future
price)
should
not
occur,
as
it
presents
an
arbitrage
situation
where
investors
theoretically
sell
spot
gold
/
buy
future
gold
in
tandem,
pocketing
the
spread.
Since
2000,
gold
has
appreciated
over
11%
on
average
each
year
and
held
it's
purchasing
power
much
better
than
most
competing
asset
classes.
For
instance,
the
US
dollar
is
lower,
while
stocks
and
bonds
have
hardly
budged
since
that
point,
while
gold
has
ascended
at
least
four
fold,
climbing
from
$250
to
over
$1,000.
John
Williams
&
Chris
Waltzek
-
November
11,
2015.
Economist
John
Williams
of
Shadowstats.com
returns
to
the
show.
The
true
underlying
economic
situation,
hidden
within
the
"official"
economic
data,
is
less
than
encouraging.
The
typically
cool-headed
and
collected
economic-sleuth
is
unnerved
by
Fed
policies.
His
work
indicates
that
the
economy
never
recovered
from
that
ominous
period,
resulting
in
the
current
stagnation.
Our
guest
echoes
American
economist
Dr.
Frank
Knight
who
noted:
economics
is
simple.
John
Williams
uncovers
fingerprints
of
gold
market
manipulation
/
rigging,
likely
stemming
from
official
sources.
His
analysis
indicates
a
US
dollar
endgame
scenario
of
less
than
sanguine
consequences.
The
host
suggests
an
alternative
hypothesis:
the
PBoC
is
aggressively
promoting
China's
Yuan
currency
to
the
IMF,
as
a
global
reserve
currency
alternative,
as
seen
by
the
recent
currency
pegging
to
the
Swiss
Franc.
Therefore,
dollar
strength
resulting
from
imminent
US
rate
hikes
in
2016
and
dovish
moves
by
the
ECB,
PBoC
and
the
BOJ,
are
responsible
for
most
of
the
12
month
dollar
rally
and
resulting
commodities
weakness.
John
Williams
and
the
host
agree
that
the
perfect
panacea
for
the
typical
investment
portfolio
remains
PMs,
the
ideal
insurance
policy.
Admired
by
top
analysts
/
investors,
economist
John
Williams
of
Shadowstats.com
returns
to
the
show,
armed
with
cutting
edge
analysis.
John
Williams
reveals
the
true
underlying
economic
situation,
hidden
within
the
"official"
economic
data,
including
the
true
intentions
of
Fed
policymakers.
The
typically
cool-headed
and
collected
economic-sleuth
is
unnerved
by
Fed
policies,
noting
that
the
financial
system
is
at
least
as
problematic
as
during
the
Great
Recession,
circa
2008.
His
work
indicates
that
the
economy
never
recovered
from
that
ominous
period,
resulting
in
the
current
stagnation.
Our
guest
echoes
the
sentiments
of
the
American
economist
Dr.
Frank
Knight
who
noted:
economics
is
simple,
the
trouble
stems
from
the
a
small
faction
who
gain
by
making
the
science
of
economics,
so
dismal.
Our
guest
uncovers
fingerprints
of
gold
market
manipulation
/
rigging,
likely
stemming
from
official
sources.
His
analysis
indicates
a
US
dollar
endgame
scenario
of
less
than
sanguine
consequences.
The
host
suggests
an
alternative
hypothesis:
the
PBoC
is
aggressively
promoting
China's
Yuan
currency
to
the
IMF,
as
a
global
reserve
currency
alternative,
as
seen
by
the
recent
currency
pegging
to
the
Swiss
Franc.
In
addition,
after
the
EU
lowered
a
key
lending
rate
into
negative
territory,
officials
recently
threatened
to
drop
the
rate
even
further
if
necessary.
Therefore,
dollar
strength
resulting
from
imminent
US
rate
hikes
in
2016
(see
the
links
/
graphs
from
the
previous
week)
and
dovish
moves
by
the
ECB,
PBoC
and
the
BOJ,
are
responsible
for
most
of
the
12
month
dollar
rally
and
resulting
commodities
weakness.
John
Williams
and
the
host
agree
that
the
perfect
panacea
for
the
typical
investment
portfolio
remains
PMs,
the
ideal
insurance
policy.
The
discussion
begins
with
the
news
from
South
America,
that
the
Venezuelan
government
has
plans
to
sell
the
national
gold
stockpile.
If
implemented,
the
operation
would
undo
the
significant
efforts
of
the
late
Hugo
Chavez.
Global
central
banks
are
inadvertently
supporting
the
PMs
community
-
policymakers
at
the
PBoC
and
EU
announced
new
monetary
stimulus
plans.
The
EU
finance
minister
is
considering
a
plan
to
lower
the
benchmark
lending
rate
further
into
negative
territory,
an
unprecedented
event.
The
Fed
Chair
shocked
investors
this
week,
noting
that
if
domestic
economic
conditions
continue
to
deteriorate,
negative
US
lending
rates
could
be
helpful.
Some
market
watchers
inferred
from
the
speech
that
Fed
officials
might
not
raise
rates
in
2016.
The
CME
Group
Fed
Funds
Futures
contracts
suggest
that
investors
are
now
placing
high
odds
that
rates
will
increase
sharply,
to
1-2%
or
higher,
as
soon
as
next
year.
Bob
Hoye
notes
that
Fed
policymakers
may
not
set
rates,
but
actually
follow
the
market
trend
in
rates.
For
instance,
the
2
year
T-Bill
seems
to
lead
Fed
interest
rate
policy
(Figure
1.2).
Our
guest
notes
that
the
PMs
market
could
be
building
a
base,
in
advance
of
the
next
bull
market.
He
outlines
his
Christmas
Bonus
indicator,
based
on
the
Broker
/
Dealer
index
via
the
ETF
(IAI).
Chris
welcomes
back
Bob
Hoye,
senior
investment
strategist
of
Institutional
Advisors
-
the
discussion
begins
with
the
news
from
South
America,
that
the
Venezuelan
government
has
plans
to
sell
the
national
gold
stockpile.
If
implemented,
the
operation
would
undo
the
significant
efforts
of
the
late
Hugo
Chavez,
who
was
one
of
the
first
national
leaders
to
successfully
repatriate
the
national
wealth.
Nevertheless,
global
central
banks
are
inadvertently
supporting
the
PMs
community
-
policymakers
at
the
PBoC
and
EU
announced
new
monetary
stimulus
plans,
to
encourage
economic
growth
prospects.
The
EU
finance
minister
is
considering
a
plan
to
lower
the
benchmark
lending
rate
further
into
negative
territory,
an
unprecedented
event.
In
similar
fashion,
Fed
Chair,
Dr.
Yellon
shocked
investors
this
week,
noting
that
if
domestic
economic
conditions
continue
to
deteriorate,
negative
US
lending
rates
could
be
helpful.
Some
market
watchers
inferred
from
the
speech
that
Fed
officials
might
not
raise
rates
in
2016.
Nevertheless,
the
CME
Group
Fed
Funds
Futures
contracts
suggest
that
investors
are
now
placing
high
odds
that
rates
will
increase
sharply,
to
1-2%
or
higher,
as
soon
as
next
year.
Bob
Hoye
notes
that
Fed
policymakers
may
not
set
rates,
but
actually
follow
the
market
trend
in
rates.
For
instance,
the
2
year
T-Bill
seems
to
lead
Fed
interest
rate
policy
(Figure
1.2).
Our
guest
notes
that
the
PMs
market
could
be
building
a
base,
in
advance
of
the
next
bull
market
-
he
outlines
his
Christmas
Bonus
indicator,
based
on
the
Broker
/
Dealer
index
via
the
ETF
(IAI).
Figure
1.1.
CME
Group
-
Fed
Funds
Futures
Odds
(2015-2016)
President
and
Director
of
Goldsource
Mines
(GXS.V),
Yannis
Tsitos
makes
his
show
debut.
Peter
Spina
has
chosen
his
firm
as
the
top
PMs
stock
opportunity
of
2016.
With
close
to
30
years
to
perfect
his
work,
President
Tsitos
knows
how
to
turn
a
small
mining
company
into
a
world-class
operation.
The
company
vision
includes
expanding
to
a
medium
sized
gold
producer.
The
South
American
project
shows
great
potential.
Many
of
the
Guyana
based
gold
deposits
are
located
near
the
surface,
making
extraction
profitable.
The
only
English
speaking
nation
in
S.A.,
Guyana
is
a
pro-mining,
former
British
colony,
offering
additional
appeal
to
operations.
His
management
team
boasts
250
years
of
experience,
adding
significant
shareholder
value.
First
gold
production
by
Christmas
on
their
flagship
property
for
merely
$480
cash
cost-$630
all
in
cost
per
ounce,
merely
half
the
spot
price.
Goldsource
has
an
affiliation
with
major
producer
and
key
shareholder
(5%),
IAMGOLD,
adding
strategic
synergies.
Shareholders
benefit
from
the
coal
property
in
Canada,
with
significant
resources
and
exploration
potential.
President
and
Director
of
Goldsource
Mines,
Yannis
Tsitos
makes
his
show
debut.
Peter
Spina
has
chosen
his
firm
as
the
top
PMs
stock
opportunity
of
2016.
With
close
to
30
years
to
perfect
his
work,
President
Tsitos
knows
how
to
turn
a
small
mining
company
into
a
world-class
operation
-
the
company
vision
includes
expanding
to
a
medium
sized
gold
producer.
The
South
American
project
shows
great
potential,
as
many
of
the
Guyana
based
gold
deposits
are
located
near
the
surface,
making
extraction
profitable.
The
only
English
speaking
nation
in
S.A.,
Guyana
is
a
pro-mining,
former
British
colony,
offering
additional
appeal
to
operations.
His
management
team
boasts
250
years
of
experience,
adding
significant
shareholder
value.
The
top
company
story
includes
first
gold
production
by
Christmas
on
their
flagship
property
for
merely
$480
cash
cost-$630
all
in
cost
per
ounce,
merely
half
the
spot
price.
Moreover,
Goldsource
has
a
affiliation
with
major
producer
and
key
shareholder
(5%),
IAMGOLD,
adding
strategic
synergies.
In
addition,
shareholders
benefit
from
the
coal
property
in
Canada,
with
significant
resources
and
exploration
potential.
Charles
Hughes
Smith
&
Chris
Waltzek
-
Oct.
30,
2015.
Chris
welcomes
back,
Charles
Hughes
Smith,
from
the
Of
Two
Minds
blog.
The
discussion
includes
the
excessive
risk
posed
to
Americans
from
overpriced
/
overvalued
housing.
Given
that
a
house
represents
the
chief
source
of
upward
mobility,
and
legacy
to
posterity,
if
another
real
estate
crisis
were
to
ensue,
the
financial
repercussions
would
be
far-reaching
and
intense.
In
the
last
housing
bubble
Freddie
Mac
/
Fannie
Mae
shouldered
their
responsibility
for
most
of
the
easy
loans.
However,
the
subsequent
echo
bubble
is
a
direct
result
of
easy
FHA
mortgages
-
over
90%
of
US
loans
are
currently
backed
by
US
GSEs.
Risk
is
a
favorite
topic
of
our
guest
who
notes
the
financial
challenges
facing
the
middle
class
today
are
far
different
than
recent
decades.
The
Too
Big
To
Fail
concept
is
reaching
unsustainable
levels,
ubiquitous
throughout
the
culture,
luring
entire
generations
into
a
false
sense
of
security.
Charles
Hughes
Smith
praises
entrepreneurs,
facing
extinction
in
the
US
following
the
recent
economic
recovery
period,
according
to
St.
Louis
Fed
metrics
(Figure
1.1.).
Chris
welcomes
back,
Charles
Hughes
Smith,
from
the
Of
Two
Minds
blog.
The
discussion
includes
the
excessive
risk
posed
to
Americans
from
overpriced
/
overvalued
housing.
Given
that
a
house
represents
the
chief
source
of
upward
mobility,
and
legacy
to
posterity,
if
another
real
estate
crisis
were
to
ensue,
the
financial
repercussions
would
be
far-reaching
and
intense.
In
the
last
housing
bubble
Freddie
Mac
/
Fannie
Mae
shouldered
their
responsibility
for
most
of
the
easy
loans.
However,
following
the
2007
housing
crisis,
the
subsequent
echo
bubble
is
a
direct
result
of
easy
FHA
mortgages
-
over
90%
of
US
loans
are
currently
backed
by
US
GSEs.
Risk
is
a
favorite
topic
of
our
guest
who
notes
the
financial
challenges
facing
the
middle
class
today
are
far
different
than
recent
decades
-
the
Too
Big
To
Fail
concept
is
reaching
unsustainable
levels,
ubiquitous
throughout
the
culture
and,
luring
entire
generations
into
a
false
sense
of
security.
Charles
Hughes
Smith
praises
entrepreneurs,
a
much
maligned
group,
facing
extinction
in
the
US
following
the
recent
economic
recovery
period,
according
to
St.
Louis
Fed
metrics
(Figure
1.1.).
Chris
welcomes
back
Bill
Murphy
from
GATA.org
who
is
in
New
Orleans
with
Chris
Powell
at
an
Investment
Conference,
amid
a
stealth
precious
metals
rally.
Our
guest
is
convinced
that
the
a
big
opportunity
for
oversized
profits
exists
in
the
silver
coin
market,
due
to
supply
constraints.
He's
monitoring
resistance
levels
in
silver
bullion
at
$18.50
for
signs
of
a
new
uptrend.
Once
that
level
is
surpassed,
the
host
concurs
that
a
new
bull
market
could
erupt
with
little
warning.
Fundamentals
and
technicals
may
be
irrelevant,
if
the
PTB
exhaust
their
supply
of
bullion
to
suppress
the
price.
Not
only
does
the
PBoC
have
a
nearly
insatiable
appetite
for
gold,
but
the
stockpile
is
virtually
empty,
when
compared
to
the
US
/
EU.
Gold
demand
will
remain
robust
for
years
as
China's
policymakers
increase
the
national
hoard
to
offset
the
currency-turmoil
threat.
Chris
welcomes
back
Bill
Murphy
from
GATA.org
who
is
in
New
Orleans
with
Chris
Powell
at
an
Investment
Conference,
amid
a
stealth
precious
metals
rally.
Our
guest
is
convinced
that
the
a
big
opportunity
for
oversized
profits
exists
in
the
silver
coin
market,
due
to
supply
constraints.
He's
monitoring
resistance
levels
in
silver
bullion
at
$18.50
for
signs
of
a
new
uptrend.
Once
that
level
is
surpassed,
the
host
concurs
that
a
new
bull
market
could
erupt
with
little
warning.
At
the
end
of
the
day,
fundamentals
and
technicals
may
be
irrelevant,
if
the
PTB
exhaust
their
supply
of
bullion
to
suppress
the
price.
Meanwhile,
not
only
does
the
PBoC
have
a
nearly
insatiable
appetite
for
gold,
but
the
stockpile
is
virtually
empty,
when
compared
to
the
US
/
EU.
Gold
demand
will
remain
robust
for
years
as
China's
policymakers
increase
the
national
hoard
to
offset
the
currency-turmoil
threat.
John
Embry
&
Chris
Waltzek
-
October
27,
2015.
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Abstract:
On
the
heels
of
a
multi-week
PMs
sector
rally,
John
Embry,
Chief
Investment
Strategist
at
Sprott
Asset
Management,
returns
to
the
program.
His
work
indicates
much
higher
levels
ahead
for
the
sector,
once
the
underlying
bullion
regains
its
footing.
Our
guest
doubts
the
Fed
or
their
central
banking
colleagues
will
raise
rates
for
years
to
come,
to
the
delight
of
gold
aficionados.
Monetary
policymakers
are
constrained
by
staggering
global
debt
levels
-
leading
US
money
center
banks
hold
over
$200
trillion
in
notional
derivatives
-
financial
weapons
of
mass
destruction
(F-WMD).
As
a
result,
even
the
hint
of
higher
nominal
rates
could
trigger
a
worldwide
debt
implosion
of
epic
magnitude.
The
issue
appears
to
stem
from
a
failure
by
officials
to
recognize
the
global
scope
of
inflation.
According
to
the
School
of
Austrian
Economics,
once
national
debt
reaches
critical
mass,
officials
must
either
stop
the
printing
presses
or
hyperinflation
on
a
worldwide
scale
is
imminent.
The
host
firmly
agrees
with
John
Embry
and
his
business
partner
Eric
Sprott
who
insist
that
silver
represents
the
most
undervalued
asset
class.
Their
analysis
suggests
a
10
fold
increase
in
silver
is
likely,
which
could
represent
a
low-ball
estimate
if
the
global
economy
unravels.
Lower
silver
supply
could
add
to
already
explosive
demand,
resulting
in
a
massive
shortage.
The
end
result
could
be
a
price
surge
of
Herculean
proportions.
The
duo
concur
-
the
ideal
investing
mindset
requires
a
paradigm
shift,
from
capital
appreciation,
to
wealth
preservation.
On
the
heels
of
a
multi-week
PMs
sector
rally,
John
Embry,
Chief
Investment
Strategist
at
Sprott
Asset
Management,
returns
to
the
program
with
his
thoughts
on
the
precious
metals
sector.
His
work
indicates
much
higher
levels
ahead
for
the
sector,
once
the
underlying
bullion
regains
its
footing.
Our
guest
doubts
the
Fed
or
their
central
banking
colleagues
will
raise
rates
for
years
to
come,
to
the
delight
of
gold
aficionados.
Monetary
policymakers
are
overwhelmed
by
staggering
global
debt
levels
-
the
5
leading
US
money
center
banks
alone
hold
over
$200
trillion
in
interest
rate
sensitive,
notional
derivatives
-
financial
weapons
of
mass
destruction
(F-WMD).
As
a
result,
even
the
hint
of
higher
nominal
rates
could
trigger
a
worldwide
debt
implosion
of
epic
magnitude,
as
financial
institutions
first
and
then
nations,
fall
like
lead
weighted
dominoes.
The
issue
appears
to
stem
from
the
failure
of
officials
to
recognize
the
global
scope
of
inflation
-
the
deflation
specter
may
actually
be
merely
a
decrease
in
the
inflation
growth
rate
or
disinflation,
amid
the
largest
sea
of
inflation
in
history.
Previous
hyperinflationary
episodes
were
contained
by
national
borders;
never
in
history
has
the
global
economy
faced
such
a
tsunami
of
inflation.
Moreover,
according
to
theory
originating
from
the
School
of
Austrian
Economics,
once
national
debt
reaches
critical
mass,
officials
must
either
stop
the
monetary
printing
presses
or
hyperinflation
on
a
worldwide
scale
(first
time
in
history)
is
imminent.
So
how
could
nearly
7
billion
people
around
the
globe
be
unprepared
for
the
looming
financial
threat?
Our
guest
notes
cognitive
dissonance
as
the
culprit;
the
best
way
to
cope
with
a
seemingly
impossible
threat
is
to
ignore
it
-
similar
to
living
near
an
earthquake
ridden
fault
line.
The
host
suggests
an
alternative
hypothesis:
perhaps
conditions
for
most
people
have
deteriorated
to
such
a
challenging
level
that
survival,
not
preparedness
is
the
most
pressing
issue.
The
host
firmly
agrees
with
John
Embry
and
his
business
partner
Eric
Sprott
who
insist
that
silver
represents
the
most
undervalued
asset
class
with
the
best
prospects
for
impressive
growth.
Their
analysis
suggests
a
10
fold
increase
in
silver
is
likely,
which
could
represent
a
significantly
low-ball
estimate,
if
global
debt
spirals
out
of
control.
This
unsavory
outcome
is
anticipated
by
many
leading
economists,
such
as
show
favorite,
Professor
Lawrence
Kotlikoff
and
several
Nobel
Laureate
economists
(US
debt
estimate:
$220
trillion).
In
addition,
base
metal
mining
production
is
lackluster,
a
primary
source
of
new
silver
production.
Lower
silver
supply
could
add
to
already
explosive
demand,
resulting
in
a
massive
shortage,
as
seen
in
the
output
constrains
at
the
Perth
Mint,
Royal
Canadian
mint,
US
mint
and
British
mint.
The
end
result
could
be
a
price
surge
of
Herculean
proportions.
The
duo
concur
-
the
modern
investing
mindset
requires
a
new
epistemology,
from
that
of
capital
appreciation,
to
wealth
preservation.
The
first
silver
coin
minted
in
the
US
in
1794
sold
at
auction
for
$4,993,750
this
week,
an
extreme
illustration
of
the
wealth
preserving
qualities
of
the
PMs.
Institutional
Advisors,
suggests
that
every
investor
own
gold
as
insurance
against
the
unexpected,
particularly
in
the
long-term.
Our
guest
ignores
the
PMs
supply
/
demand
conditions,
preferring
instead
to
monitor
silver
/
gold
ratio
for
credit
issues.
His
in-depth
technical
analysis
agrees
with
that
of
the
host
-
US
equities
may
be
re-testing
a
break-down,
resistance
level,
indicative
of
a
bear
market.
The
recent
lackluster
domestic
unemployment
announcement
could
restrain
Fed
policymakers
from
raising
rates.
The
head
of
Tocqueville
PMs
fund
expects
the
continued
flow
of
PMs
from
Western
nations
to
Eastern
countries
to
culminate
in
a
short-squeeze
of
epic
proportions.
In
the
next
phase
of
the
credit
crisis,
gold
could
surge
higher,
as
a
refuge
of
last
resort.
Chris
welcomes
back
Bob
Hoye,
senior
investment
strategist
of
Institutional
Advisors
-
the
first
silver
coin
minted
in
the
US
in
1794
sold
at
auction
for
$4,993,750
this
week,
an
extreme
illustration
of
the
remarkable
purchasing
power,
preserving
qualities
of
the
PMs,"the
coin
was
first
owned
by
a
British
aristocrat
who
acquired
the
dollar
after
it
was
minted
in
Philadelphia."
Institutional
Advisors,
suggests
that
every
investor
own
gold
as
insurance
against
the
unexpected,
particularly
in
the
long-term.
Our
guest
ignores
the
PMs
supply
/
demand
conditions,
preferring
instead
to
monitor
silver
/
gold
ratio
for
credit
issues.
His
in-depth
technical
analysis
agrees
with
that
of
the
host
-
US
equities
may
be
re-testing
a
break-down,
resistance
level,
indicative
of
a
bear
market.
The
recent
lackluster
domestic
unemployment
announcement
could
restrain
Fed
policymakers
from
raising
rates.
The
head
of
Tocqueville
PMs
fund
expects
the
continued
flow
of
PMs
from
Western
nations
to
Eastern
countries
to
culminate
in
a
short-squeeze
of
epic
proportions.
In
the
next
phase
of
the
credit
crisis,
gold
could
surge
higher,
as
a
refuge
of
last
resort.
Gerald
Celente
&
Chris
Waltzek
-
October
20,
2015.
A
modern
economic
depression
could
develop,
due
in
part
to
stagnant
wages
and
shadow
unemployment.
Fed
policymakers
may
heed
Former
Fed
Head,
Dr.
Bernanke's
suggestion
to
push
the
benchmark
lending
rate
into
negative
territory.
In
Dickensian-like
fashion,
savers
hand
over
their
capital
to
lenders,
while
paying
for
the
less
than
savory
opportunity.
The
Trends
Research
Institute
recently
hosted
a
conference
with
leading
speakers,
including
Dr.
Paul
Craig
Roberts,
Dr.
Gary
Null
and
Ralph
Nader.
Our
guest
expects
the
premium
for
financial
portfolio
insurance
to
skyrocket,
boosting
demand
/
price
of
PMs,
his
preferred
retirement
safe
haven.
Head
of
the
Trends
Research
Institute,
Gerald
Celente
outlines
a
less
than
sanguine
economic
ontology,
noting
a
heightened
concern
over
what
could
morph
into
a
modern
economic
depression,
due
in
part
to
stagnant
wages
and
shadow
unemployment.
In
response,
Fed
policymakers
may
heed
Former
Fed
Head,
Dr.
Bernanke's
suggestion
to
push
the
benchmark
lending
rate
into
negative
territory,
similar
to
rates
in
the
European
Union.
In
Dickensian-like
fashion,
savers
hand
over
their
capital
to
lenders,
while
paying
for
the
less
than
savory
opportunity.
The
Trends
Research
Institute
recently
hosted
a
conference
with
leading
speakers,
including
Dr.
Paul
Craig
Roberts,
Dr.
Gary
Null
and
Ralph
Nader;
the
video
is
available
online.
Given
the
recent
equities
market
volatility,
amid
increased
global
QE
/
currency
instability,
our
guest
expects
the
premium
for
financial
portfolio
insurance
to
skyrocket,
boosting
demand
and
price
of
gold
/
silver,
his
preferred
retirement
safe
haven.
Chris
welcomes
back
Louis
Navellier
of
Navellier
Growth
for
another
market
discussion.
Louis
has
a
knack
for
identifying
multi-year
themes
in
the
market,
well
ahead
of
the
top
financial
pundits.
He
outlines
the
similarities
between
the
2011
downdraft
in
US
shares
and
2015,
noting
expectations
for
one
more
retest
of
the
September
2015
lows.
More
cautious
investors
are
advised
to
consider
reentering
equities
positions
on
the
week
before
Thanksgiving.
Our
guest
is
watching
the
Fed
closely
-
he
expects
policymakers
to
hold
rates
steady,
otherwise
increase
a
quarter
percent
in
December.
He
places
low
odds
on
a
2016
rate
hike,
due
to
the
upcoming
November
election.
Favorite
stock
sectors
include
health
care,
such
as
CVS
(CVS),
as
well
as
Darden
Restaurants
(Capital
Grille)
(DRI),
Costco
(COST),
Lowes
(LOW),
Southwest
Airlines
Lowes
(LUV)
and
Starbuck's
Coffee
(SBUX).
Chris
welcomes
back
Louis
Navellier
of
Navellier
Growth
for
another
market
discussion
-
Louis
has
a
knack
for
identifying
multi-year
themes
in
the
market,
well
ahead
of
the
top
financial
pundits.
He
outlines
the
similarities
between
the
2011
downdraft
in
US
shares
and
2015,
noting
expectations
for
one
more
retest
of
the
September
2015
lows,
before
returning
to
the
previous
peak
(Figure
1.1).
More
cautious
investors
are
advised
to
consider
reentering
equities
positions
on
the
week
before
Thanksgiving,
as
investors
tend
to
bid
up
prices
during
that
holiday
period.
Our
guest
is
watching
the
Fed
closely
-
he
expects
policymakers
to
hold
steady
on
rates
or
increase
a
quarter
percent
in
December,
with
a
"one
and
done"
scenario.
He
places
low
odds
on
a
2016
rate
hike,
due
to
the
upcoming
November
2016
election.
Favorite
stock
sectors
include
health
care,
such
as
CVS
(CVS),
as
well
as
Darden
Restaurants
(Capital
Grille)
(DRI),
Costco
DRI
(COST),
Lowes
(LOW),
Southwest
Airlines
Lowes
(LUV)
and
Starbuck's
Coffee
(SBUX).
Figure
1.1.
2011
vs.
2015
Equities
Market
-
Louis
Navellier
Chris
welcomes
Peter
Schiff,
Chairman
of
SchiffGold.com.
The
discussion
includes
less
than
robust
economic
reports
including
sluggish
retail
sales.
Peter
Schiff
thinks
the
economic
recovery
is
less
than
genuine;
conditions
are
far
more
dire
than
reported.
According
to
a
major
EU
investment
bank
Saxo,
gold
may
have
found
a
solid
bottom
-
the
yellow
metal
could
soar
as
high
as
$1,400.
However,
Peter
Schiff
thinks
the
figure
is
conservative,
given
the
recent
failure
by
Fed
policymakers
to
raise
rates.
His
findings
indicate
the
true
Fed
agenda
involves
preparations
for
the
next
round
of
monetary
easing,
QE4.
Bullion
supply
conditions
remain
constrained
-
the
US
Mint
and
the
Canadian
Mint
are
unable
to
meet
demand
due
in
part
to
weekly
silver
coin
quotas.
In
addition,
the
Australian
Perth
Mint
sold
a
record
2.5
million
silver
ounces
in
the
latest
reading;
an
all
time
record.
Even
if
gold
were
to
decline
to
$800
the
small
downside
risk
is
fractional
relative
to
the
upside
potential;
the
risk-reward
is
highly
favorable.
2016
could
be
the
renaissance
year
for
the
PMs,
gold
may
surprise
even
the
most
staunch
aficionado
as
the
sector
begins
to
reflect
true
intrinsic
value.
Even
with
the
14%
advance
in
the
XAU
index
last
week,
gold
shares
may
represent
a
fantastic
opportunity,
relative
to
general
equities.
Plus,
the
real
estate
sector
may
experience
an
epic
plunge,
similar
to
the
2006
peak,
as
financial
institutions
unload
huge
shadow
inventories
on
a
public
ill-prepared
to
switch
from
renting
back
to
home
ownership.
Chris
welcomes
Peter
Schiff,
Chairman
of
SchiffGold.com
-
the
discussion
includes
less
than
robust
economic
reports
including
sluggish
retail
sales.
Peter
Schiff
thinks
the
economic
recovery
is
less
than
genuine;
conditions
are
far
more
dire
than
reported.
According
to
a
major
EU
investment
bank
Saxo,
gold
may
have
found
a
solid
bottom
-
the
yellow
metal
could
soar
as
high
as
$1,400.
However,
Peter
Schiff
thinks
the
figure
is
conservative,
given
the
recent
failure
by
Fed
policymakers
to
raise
rates.
His
findings
indicate
the
true
Fed
agenda
involves
preparations
for
the
next
round
of
monetary
easing,
QE4.
Bullion
supply
conditions
remain
constrained
-
the
US
Mint
and
the
Canadian
Mint
are
unable
to
meet
demand
due
in
part
to
weekly
silver
coin
quotas.
In
addition,
the
Australian
Perth
Mint
sold
a
record
2.5
million
silver
ounces
in
the
latest
reading;
an
all
time
record.
Peter
Schiff
reports
sales
at
SchiffGold.com
are
solid.
Even
if
gold
were
to
decline
to
$800
(Peter
Schiff
finds
this
scenario
doubtful)
the
small
downside
risk
is
fractional
relative
to
the
upside
potential;
the
risk-reward
is
highly
favorable.
2016
could
be
the
renaissance
year
for
the
PMs,
gold
may
surprise
even
the
most
staunch
aficionado
as
the
sector
begins
to
reflect
true
intrinsic
value.
Even
with
the
14%
advance
in
the
XAU
index
last
week,
gold
shares
may
represent
a
fantastic
opportunity,
relative
to
general
equities.
Plus,
the
real
estate
sector
may
experience
an
epic
plunge,
similar
to
the
2006
peak,
as
financial
institutions
unload
huge
shadow
inventories
on
a
public
ill-prepared
to
switch
from
renting
back
to
home
ownership.
Arch
Crawford
&
Chris
Waltzek
-
Oct.
8,
2015.
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Show
Recap.:
Arch
Crawford,
head
of
Crawford
Perspectives,
-
he's
double
short
the
market
bounce,
in
anticipation
of
continued
volatility.
Arch
likes
the
PMs,
noting
that
tight
supply
conditions
could
help
bring
about
a
renaissance
in
the
sector
He
is
accumulating
silver
in
his
personal
stockpile.
Arch
Crawford
thinks
the
rebound
rally
is
merely
a
bounce.
He
earned
$500,000
shorting
US
equities
in
2008,
using
only
$2,500,
via
put
options.
He
is
currently
following
a
similar
strategy
(caution
advisable).
Although
the
Black-Scholes
options
pricing
model
works
well
with
at
/
near-the-money-strike
prices,
far
out-of-the-money
options
tend
to
be
vastly
underpriced.
This
presents
huge
opportunity
at
market
tipping
points,
according
to
chaos
theory,
Dr.
Taleb,
Arch
Crawford
and
the
host.
The
duo
suspect
that
the
next
bull
market
in
the
precious
metals
(PMs)
could
unfold
in
lightning
fashion,
beginning
with
a
sudden
dollar
collapse.
The
impetus
could
be
continued
US
Treasury
sales
by
the
BRICS
nations,
per
current
headline
reports.
The
financial
dialogue
resumes
with
WTIC
-
Arch
thinks
that
buying
opportunities
will
abound
in
black
gold.
Arch
Crawford,
head
of
Crawford
Perspectives,
was
one
of
the
few
pundits
to
call
the
stock
market
swoon
of
2015
-
he's
double
short
the
market
bounce,
in
anticipation
of
continued
volatility.
With
the
50
day
moving
average
dropping
below
the
200
day
moving
average
on
many
stocks
/
indexes,
the
onus
falls
firmly
on
the
shoulders
of
bullish
investors
to
disprove
the
bearish
case.
Arch
Crawford
thinks
the
rebound
rally
is
merely
a
bounce,
representing
an
opportunity
for
investors
to
lighten
portfolios
of
equities
in
favor
of
cash
and
bear
funds/ETFs.
Arch
earned
$500,000
shorting
US
equities
in
2008,
using
only
$2,500,
via
put
options.
He's
following
a
similar
strategy
(caution
advisable).
Although
the
Black-Scholes
options
pricing
model
works
well
with
at
/
near-the-money-strike
prices,
far
out-of-the-money
options
tend
to
be
vastly
underpriced,
because
the
normal
distribution
used
by
the
model
(some
versions)
does
not
account
for
inherent
market
fragility
as
accurately
as
does
the
heavy-tailed
or
Pareto
distribution
model.
This
presents
huge
opportunity
at
market
tipping
points,
according
to
chaos
theory,
Dr.
Taleb,
Arch
Crawford
and
the
host.
The
duo
suspect
that
the
next
bull
market
in
the
precious
metals
(PMs)
could
unfold
in
lightning
fashion,
beginning
with
a
sudden
dollar
collapse,
culminating
in
a
startling
price
markup,
with
little
/
no
time
for
the
typical
investor
to
accumulate
a
position.
The
impetus
could
be
continued
US
Treasury
sales
by
the
BRICS
nations,
per
current
headline
reports.
The
host
/
guest
share
a
passion
for
physics
/
cosmology
-
the
discussion
briefly
involves
an
esoteric
talk
on
fractal
theory
and
quantum
electro
dynamics,
including
the
work
of
Dr.'s
Mandelbrot
and
Paul
Dark.
The
financial
dialogue
resumes
with
WTIC
-
Arch
thinks
that
buying
opportunities
will
abound
in
black
gold
once
the
downtrend
passes.
Arch
likes
the
PMs,
noting
that
tight
supply
conditions
could
help
bring
about
a
renaissance
in
the
sector
-
he
is
accumulating
silver
in
his
personal
stockpile.
Chris
welcomes
Ross
Givens,
from
Wealth
Empireto
the
show.
The
duo
concur
that
the
Blog-o-Fear
may
be
wrong
on
US
equities;
stocks
are
oversold
and
could
present
a
long-term
portfolio
opportunity.
Stocks
represent
an
excellent
valuation
over
fixed-rate
debt
instruments,
such
as
bonds.
His
work
indicates
that
gold
/
silver
are
reaching
fire
sale
prices
as
the
cash
cost
of
mining
production
approaches
the
spot
price.
Mining
production
is
low
and
supply
is
tight.
When
price
is
low,
fewer
projects
are
viable
adding
to
already
narrow
supply
conditions.
The
net
result
is
increased
demand,
which
is
perfect
for
bull
market
conditions.
He
suggests
adding
the
gold
stock
mining
ETF
to
portfolios
(GDX)
to
leverage
a
potential
gold
bull
market.
The
host
suggests
the
(GDXJ)
to
participate
in
the
smaller
cap
gold
/
silver
mining
operations,
with
the
proviso
of
dollar
cost
averaging
into
positions.
The
crude
oil
sector
is
entering
similar
conditions,
where
investment
in
new
operations
has
dwindled,
setting
up
a
long-term
opportunity.
Similar
to
the
Alpha
Stocks
Newsletter,
Wealth
Empire
monitors
the
investment
strategies
of
top
hedge
fund
investors
and
money
managers,
like
Warren
Buffett,
George
Soros,
and
Carl
Icahn,
through
SEC
holdings
reports.
Favorite
stocks
include
Apple
Computer
(AAPL)
and
General
Motors
(GM).
Chris
welcomes
Ross
Givens,
from
Wealth
Empire
to
the
show
-
the
duo
agree
that
the
Blog-o-Fear
may
be
wrong
on
US
equities;
stocks
are
oversold
and
could
present
a
long-term
portfolio
opportunity.
With
the
risk-free
rate
extremely
low
by
historical
standards,
amid
dovish
Fed
rhetoric,
stocks
represent
an
excellent
valuation
over
fixed-rate
debt
instruments,
such
as
bonds.
His
work
indicates
that
gold
/
silver
are
reaching
fire
sale
prices
as
the
cash
cost
of
mining
production
approaches
the
spot
price,
mining
production
is
low
and
supply
is
tight.
When
price
is
low,
fewer
projects
are
viable
adding
to
already
narrow
supply
conditions.
The
net
result
is
increased
demand,
which
is
perfect
for
bull
market
conditions.
He
suggests
investors
add
the
gold
stock
mining
ETF
to
their
portfolios
(GDX)
to
leverage
a
potential
gold
bull
market.
The
host
suggests
the
(GDXJ)
to
participate
in
the
smaller
cap
gold
/
silver
mining
operations,
with
the
proviso
of
dollar
cost
averaging
into
positions,
to
guard
against
a
potential
selloff
stemming
from
potential
Fed
rate
hikes
in
2016.
The
crude
oil
sector
is
entering
similar
conditions,
where
investment
in
new
operations
has
dwindled,
setting
up
a
long-term
opportunity
to
run
back
to
the
bull
market
high
near
$140
per
barrel.
Similar
to
the
Alpha
Stocks
Newsletter,
Wealth
Empire
monitors
the
investment
strategies
of
top
hedge
fund
investors
and
money
managers,
like
Warren
Buffett,
George
Soros,
and
Carl
Icahn,
through
SEC
holdings
reports.
Favorite
stocks
include
Apple
Computer
(AAPL)
and
General
Motors
(GM).
Harry
S.
Dent
Jr.
&
Chris
Waltzek
-
Sept.
30,
2015.
Economist
and
best-selling
author
Harry
S.
Dent
Jr.,
returns
with
commentary
on
the
latest
FOMC
rate
decision.
Fed
officials
have
no
intentions
of
hiking
rates
in
2015,
despite
the
hawkish
rhetoric
making
the
media
reports.
Financial
debt-bubbles
are
typically
followed
by
deflation,
not
inflation,
which
is
a
key
reason
why
Fed
policymakers
hands
are
tied.
Too
many
money
managers
piled
into
the
risk-off,
long-only
trade
-
the
unwinding
process
could
be
more
protracted
than
anticipated
The
recent
equities
selloff
could
be
merely
the
opening
salvo
of
a
new
downtrend
in
equities,
culminating
with
multiple
price
implosions.
The
downtrend
could
persist
throughout
2016.
The
housing,
echo-boom
of
2009-2015
is
losing
momentum
as
investors
/
builders
brace
for
higher
rates.
Household
income
per
capita
has
plunged
since
2008,
more
than
$5,000
-
eroding
another
key
housing
demand
factor.
Harry
S.
Dent
notes
the
new
long-term
downtrend
in
housing.
He
expects
the
market
to
drop
by
at
least
40-50%
on
average
and
much
more
in
frothy
regions.
The
net
result
will
be
buying
opportunities
for
those
who
anticipating
the
sea
change
event.
The
HGX
Housing
Index,
appears
to
be
developing
the
most
bearish
of
all
technical
price
patterns
(Figure
1.1.).
Economist
and
best-selling
author
Harry
S.
Dent
Jr.,
Returns
with
commentary
on
the
latest
FOMC
rate
decision.
Clearly,
Fed
officials
have
no
intentions
of
hiking
rates
in
2015,
despite
the
hawkish
rhetoric
making
the
media
reports.
Financial
debt-bubbles
are
typically
followed
by
deflation,
not
inflation,
which
is
a
key
reason
why
Fed
policymakers
hands
are
tied.
Too
many
money
managers
piled
into
the
risk-off,
long-only
trade
-
the
unwinding
process
could
be
more
protracted
than
anticipated
by
the
mainline
punditry.
Our
guest
views
the
recent
equities
selloff
as
merely
the
opening
salvo
of
a
new
downtrend
in
equities,
culminating
with
multiple
price
implosions,
and
a
Dow
Jones
Industrials
price
range
of
14,000-15,000.
The
downtrend
could
persist
throughout
2016.
Given
that
Saudi
Arabia
and
nearby
suppliers,
can
produce
black
gold
for
as
little
as
$7
per
barrel,
the
recent
price
slide
will
continue
to
inflict
harm
to
the
Midwest
fracking
and
Canadian
oil
sands,
industries.
In
addition,
the
housing,
echo-boom
of
2009-2015
is
losing
momentum
as
investors
/
builders
brace
for
higher
rates,
which
increases
mortgage
costs,
lowering
demand
for
house
purchases.
Household
income
per
capita
has
plunged
since
2008,
more
than
$5,000
-
eroding
another
key
housing
demand
factor.
Harry
S.
Dent
notes
the
new
long-term
downtrend
in
housing,
citing
massive
student-loans
plaguing
the
sector
-
he
expects
the
market
to
drop
by
at
least
40-50%
on
average
and
much
more
in
frothy
regions.
The
net
result
will
be
buying
opportunities
for
those
who
anticipating
the
sea
change
event.
Moreover,
the
HGX
Housing
Index,
appears
to
be
developing
the
most
bearish
of
all
technical
price
patterns
(Figure
1.1.).
Figure
1.1.
HGX
Housing
Index
-
Bearish
Diamond
Pattern
Note:
Chart
courtesy
of
thinkorswim
/
tdameritrade.
Harry
S.
Dent
expects
the
trend
of
westward
economic
growth
to
shift
from
China
to
Southwest
Asia
and
India.
India
could
experience
the
next
China-like
economic
miracle,
catapulting
the
nation
of
1.25
billion
people
from
BRICS
status
to
remarkable
affluence.
One
interesting
Indian
stock
opportunity
is
Dr.
Reddy's
Lab
(RDY).
Chris
welcomes
back
to
the
show,
Bill
Murphy
from
GATA.org.
The
discussion
includes
Nassim
Taleb's
latest
work,
AntiFragile,
free
PDF
link
listed
below.
Due
to
Fed
intervention,
risk
was
removed
from
the
markets,
that
is
until
recently.
Even
hedge
funds
that
are
supposed
to
ameliorate
risk,
employed
long-only
investment
strategies
to
remain
competitive.
However,
without
the
Fed
rate
panacea,
the
threat
of
higher
rates
rattled
the
markets.
The
duo
discuss
the
growing
crowd
of
cognoscente
who
insist
that
the
precious
metals
(PMs)
markets
are
manipulated.
Bill
Murphy
agrees
with
friend
of
the
show,
Jim
Rogers,
that
a
currency
crisis
could
unfold,
sending
the
precious
metals
skyward.
For
instance,
the
Argentine
currency
dilemma
resulted
with
a
100%
in
the
price
of
gold
in
approximately
12
months
(Figure
1.1.).
The
next
bull
market
in
gold
/
silver
and
related
equities
could
unfold
at
an
alarming
pace,
making
the
prescribed
accumulation
via
dollar
cost
averaging
all
the
more
sound
an
investment
strategy.
Despite
months
of
hawkish
jawboning
by
Fed
policymakers,
the
benchmark
overnight
lending
rate
will
remain
fixed
at
.25
at
the
next
FOMC
meeting,
with
a
91%
probability
(Figure
1.2.).
The
duo
ask
the
poignant
question,
"What
do
Fed
policymakers
know
about
the
domestic
economy,
that
is
holding
back
the
inevitable
rate
hike?"
Chris
welcomes
back
to
the
show,
Bill
Murphy
from
GATA.org.
The
discussion
includes
Nassim
Taleb's
latest
work,
AntiFragile,
Things
that
Gain
from
Disorder
(Incerto)
(Free
book
PDF
here,
malware
scan
advisable).
Due
to
Fed
intervention,
risk
was
removed
from
the
markets,
that
is
until
recently.
Even
hedge
funds
that
are
supposed
to
ameliorate
risk,
employed
long-only
investment
strategies
to
remain
competitive.
However,
without
the
Fed
rate
panacea,
the
threat
of
higher
rates
rattled
the
markets.
The
duo
discuss
the
growing
crowd
of
cognoscente
who
insist
that
the
precious
metals
(PMs)
markets
are
manipulated.
Bill
Murphy
agrees
with
friend
of
the
show,
Jim
Rogers,
that
a
currency
crisis
could
unfold,
sending
the
precious
metals
skyward.
For
instance,
the
Argentine
currency
dilemma
resulted
with
a
100%
in
the
price
of
gold
in
approximately
12
months
(Figure
1.1.).
Figure
1.1.
Gold
Gains
100%
vs.
Argentine
Currency
Note:
Chart
courtesy
of
Google.com,
Images.
The
next
bull
market
in
gold
/
silver
and
related
equities
could
unfold
at
an
alarming
pace,
making
the
prescribed
accumulation
via
dollar
cost
averaging
all
the
more
sound
an
investment
strategy.
In
addition,
despite
months
of
hawkish
jawboning
by
Fed
policymakers,
the
benchmark
overnight
lending
rate
will
remain
fixed
at
.25
at
the
next
FOMC
meeting,
with
a
91%
probability
(Figure
1.2.).
The
duo
ask
the
poignant
question,
"What
do
Fed
policymakers
know
about
the
domestic
economy,
that
is
holding
back
the
inevitable
rate
hike?"
Chris
welcomes
Avi
Gilburt,
from
Elliott
Wave
Trader
in
his
debut
on
the
show.
His
team
specializes
in
identifying
market
tops
/
bottoms.
According
to
his
Elliott
Wave
count-analysis,
gold
could
ascend
beyond
$25,000.
Gold
could
climb
by
50
fold,
over
the
next
few
decades.
His
near-term
perspective
includes
the
precious
metals
sector
(PMs)
recording
a
nadir
within
the
next
6
months,
resulting
in
a
multi-year
bull
market.
Avi
outlines
his
outlook
on
the
US
equities
market,
noting
a
minimum
downside
target
has
been
met,
but
the
bottom
is
not
yet
firmly
in
place.
Once
the
correction
passes
in
the
next
month
or
so,
his
forecast
suggests
the
remarkable
6
yearlong,
equities
market
rally
will
resume.
He's
watching
WTIC
for
a
retest
of
the
lows
before
adding
a
position
to
the
long-term
portfolio.
Chris
welcomes
Avi
Gilburt,
from
Elliott
Wave
Trader
in
his
debut
on
the
show.
His
team
specializes
in
identifying
the
tops
/
bottoms
of
key
market
trends.
According
to
his
Elliott
Wave
count-analysis,
gold
could
ascend
beyond
$25,000
and
gold
equities
indexes
by
50
fold,
over
the
next
few
decades.
His
near-term
perspective
includes
a
nadir
in
the
precious
metals
sector
(PMs)
within
the
next
6
months,
resulting
in
a
multi-year
bull
market.
Last
week,
the
FOMC
failed
to
raise
rates
a
quarter
point
as
indicated
by
policymaker
speeches
-
it
appears
Fed
policymakers
are
concerned
that
the
economy
could
be
facing
a
recession.
Investors
were
displeased
with
the
decision,
selling
US
equities
last
week
following
the
Thursday
decision.
Avi
outlines
his
outlook
on
the
US
equities
market,
noting
a
minimum
downside
target
has
been
met,
but
the
bottom
is
not
yet
firmly
in
place.
Nonetheless,
once
the
correction
passes
in
the
next
month
or
so,
his
forecast
suggests
the
remarkable
6
yearlong,
equities
market
rally
will
resume.
He's
watching
WTIC
for
a
retest
of
the
lows
before
adding
a
position
to
the
long-term
portfolio.
Bob
Hoye,
senior
investment
strategist
at
Institutional
Advisors,
and
the
host
discuss
the
big
rate
decision.
Policymakers
are
actually
follow
the
rate
trends,
reacting
to
rates,
not
setting
them.
The
economy
is
based
on
the
beliefs
and
behaviors
of
at
least
300
million
Americans
and
billions
of
people
worldwide.
Attempting
to
quantify
and
then
predict
the
related
outcomes
on
such
a
complex
system
is
fraught
with
challenges.
The
economy
is
far
too
complex
to
draw
broad
based
conclusions
from
simple
points.
This
is
the
Achilles
heal
of
monetary
policy.
Although
bullish
on
the
gold
sector,
in
order
for
the
gold
shares
to
rebound
solidly,
the
underlying
bullion
must
first
stabilize.
Keeping
powder
in
reserve
for
buying
opportunities
is
advisable.
Bob
Hoye,
senior
investment
strategist
at
Institutional
Advisors,
and
the
host
discuss
the
big
rate
decision.
Policymakers
are
actually
following
the
rate
trends,
reacting
to
rates,
not
setting
them.
The
crux
of
the
problem
stems
from
drawing
conclusions
from
false
premises.
Simple
syllogisms
(cause
and
effect
relationships),
work
well
with
basic
systems.
For
instance,
the
two
premises:
a
red
sky
and
dusk
leads
to
fair
weather
the
next
morning.
However,
the
economy
is
based
on
the
beliefs
and
behaviors
of
at
least
300
million
Americans
and
billions
of
people
worldwide.
Attempting
to
quantify
and
then
predict
the
related
outcomes
on
such
a
complex
system
is
fraught
with
challenges.
In
fact,
the
economy
is
far
too
complex
to
draw
broad
based
conclusions
from
simple
points.
This
is
the
Achilles
heal
of
monetary
policy.
Although
bullish
on
the
gold
sector,
in
order
for
the
gold
shares
to
rebound
solidly,
the
underlying
bullion
must
first
stabilize
-
keeping
powder
in
reserve
for
buying
opportunities
is
advisable.
To
download
this
show
in
Mp3
format,
please
click
here.
Summary:
LTCG
Chief
Actuary,
Vince
Bodnar
makes
his
debut
on
the
show.
From
humble
beginnings
in
the
1600's
at
Lloyd's
of
London
Coffee
shop,
on
Lombard
Street,
the
insurance
industry
is
integral
to
the
modern
world.
Millions
of
people
sleep
soundly
at
night,
knowing
that
their
families,
homes
and
autos
are
secured
against
unforeseen
events
and
economic
calamity.
Actuaries
quantify
peace
of
mind,
minimize
the
overall
expense
in
turn
maximizing
benefit
to
the
policyholder,
society,
shareholders
and
their
firm.
For
instance,
one
predictive
models
involves
credit
score
-
evidently
policyholders
with
high
credit
scores
tend
to
have
fewer
traffic
related
accidents.
Baysean
analysis
used
by
actuaries
can
vastly
reduce
the
number
of
false
positives,
reducing
unnecessary
and
sometimes
dangerous
procedures
/
expenses.
One
central
concept
emerging
from
the
field
involves
the
extended
life
span
expected
by
millions
of
retirees.
Living
decades
after
retirement
requires
careful
planning
for
not
only
the
policyholder,
but
the
insurance
firm.
Simple
changes
in
lifestyle,
such
as
vegetarian
diet
increases
lifespan
by
over
7
years
in
females
and
almost
10
years
in
males.
Chief
Bodnar
encourages
all
mathematically
inclined
listeners
to
learn
more
about
the
actuarial
sciences
as
a
profession.
LTCG
Chief
Actuary,
Vince
Bodnar
makes
his
debut
on
the
show.
From
humble
beginnings
at
Lloyd's
of
London
Coffee
shop,
on
Lombard
Street
in
the
1600's,
the
insurance
industry
is
integral
to
the
modern
world.
Millions
of
people
sleep
soundly
at
night,
knowing
that
their
families,
homes
and
autos
are
secured
against
unforeseen
events
and
economic
calamity.
Actuaries
quantify
that
peace
of
mind,
minimize
the
overall
expense
in
turn
maximizing
benefit
to
the
policyholder,
society,
shareholders
and
their
firm.
For
instance,
one
predictive
models
involves
credit
score
-
evidently
policyholders
with
high
credit
scores
tend
to
have
fewer
traffic
related
accidents.
In
addition,
via
conditional
probability
stemming
from
Bayesian
analysis
used
by
actuaries,
physicians
can
vastly
reduce
the
number
of
false
positives
from
medical
tests
-
reducing
unnecessary
and
sometimes
dangerous
procedures
/
expenses.
One
central
concept
emerging
from
the
field
involves
the
extended
lifespans
expected
by
millions
of
retirees.
Living
decades
after
retirement
requires
careful
planning
for
not
only
the
policyholder,
but
the
insurance
firm,
to
insure
that
both
parties
benefit
from
the
arrangement.
Simple
changes
in
lifestyle,
such
as
vegetarian
diet
increases
lifespan
by
over
7
years
in
females
and
almost
10
years
in
males.
Chief
Bodnar
encourages
all
mathematically
inclined
listeners
to
learn
more
about
the
actuarial
sciences
as
a
profession.
Jim
Rogers
&
Chris
Waltzek
-
Sept.
16,
2015.
Powered
by
Podbean.com
To
download
this
show
in
Mp3
format,
please
click
here.
Summary:
From
the
Big
Apple,
NY,
NY,
Jim
Rogers
says
the
upcoming
Fed
rate
decision
tomorrow,
Thursday,
Sept.
17,
could
be
a
game-changing
moment.
The
current
implied
probability
of
the
30-Day
Fed
Funds
Futures
indicates
only
a
22%
likelihood
of
a
rate
hike
at
tomorrow's
FOMC
meeting.
Nevertheless,
the
financial
powerhouse
shares
Axel
Merk's
sentiments,
Fed
Chair
Janet
Yellen
could
surprise
investors
with
a
token
rate
hike.
Eventually
market
forces
will
overwhelm
monetary
policies.
He
remains
bullish,
especially
on
the
yellow
metal
in
the
long-term
horizon.
"...
Gold
will
be
in
a
bubble
someday,
don't
worry..."
Cash
is
king
-
his
analysis
indicates
that
the
Greenback
will
continue
to
ascend
for
the
time
being,
eventually
culminating
in
bubble
like
conditions.
He
plans
to
sell
his
US
dollar
position
at
that
point
and
back
up
the
truck
for
a
Fort
Knox
size
gold
shipment.
The
crude
oil
market
may
be
reaching
a
nadir;
a
double
bottom
pattern
could
be
the
ideal
entry
point
to
boost
portfolio
exposure.
However,
Jim
Rogers
is
less
convinced
that
US
equities
have
reached
a
frothy
bubble
like
environment.
From
the
Big
Apple,
NY,
NY,
Jim
Rogers
views
the
upcoming
Fed
rate
decision
tomorrow,
Thursday,
Sept.
17,
as
a
game-changing
moment.
The
current
implied
probability
of
the
30-Day
Fed
Funds
Futures
indicates
only
a
22%
likelihood
of
a
rate
hike
at
tomorrow's
FOMC
meeting,
half
of
last
month's
figure.
Nevertheless,
the
financial
powerhouse
shares
Axel
Merk's
sentiments,
Fed
Chair
Janet
Yellen
could
surprise
investors
with
a
token
rate
hike,
one
quarter
of
a
percent
to
.5%.
Nobel
Laureate,
Professor
Robert
Shiller,
one
of
the
few
leading
economists
to
spot
the
housing
bubble,
recently
announced
that
the
US
equities
markets
has
entered
bubble
territory.
Although
Jim
Rogers
views
stocks
as
overvalued
by
individual
sectors
and
it's
atypical
to
see
advances
with
such
shallow
declines,
he's
less
convinced
that
US
equities
have
reached
a
frothy
bubble
like
environment.
However,
unlike
the
former
Fed-Head
Bernanke,
the
current
Chair
is
far
less
focussed
on
the
potentially
deflationary
aspects
/
outcomes
and
is
more
hawkish,
increasing
the
prospects
of
a
rate
hike,
presently.
Eventually
market
forces
will
overwhelm
monetary
policies.
He
remains
bullish,
especially
on
the
yellow
metal
in
the
long-term
horizon,
noting
"...Gold
will
be
in
a
bubble
someday,
don't
worry..."
Cash
is
king
-
his
analysis
indicates
that
the
Greenback
will
continue
to
ascend
for
the
time
being,
enter
bubble
like
conditions,
at
which
point
he
plans
to
sell
his
position
and
back
up
the
truck
for
a
Fort
Knox
size
...Gold
shipment.
The
crude
oil
market
may
be
reaching
a
nadir;
a
double
bottom
pattern
could
be
the
ideal
entry
point
to
boost
portfolio
exposure.
Axel
Merk
&
Chris
Waltzek
-
Sept.
11,
2015.
To
download
this
show
in
Mp3
format,
please
click
here.
Recap.:
Axel
Merk,
head
of
Merk
Investments
returns
to
the
show
-
he
thinks
the
Fed
should
balk
on
next
week's
proposed
rate
hike.
Instead,
policymakers
will
likely
engineer
a
ZIRP
exit
strategy.
By
reducing
volatility
/
exposure
to
zero,
the
Fed
"put"
has
lulled
investors
into
a
false
sense
of
security,
forcing
savings
into
risky
assets.
The
resulting
complacency
is
costly
and
could
increase
risk
along
with
volatility
in
the
coming
weeks
/
months
as
investors
adjust
expectations.
Our
guest
outlines
a
robust,
portfolio
diversification-strategy.
From
a
contrarian
stance,
...Gold
offers
a
solid
alternative
to
over
priced
equities.
Merk
Investments
created
a
...Gold
ETF
with
the
benefit
of
delivery.
Investors
can
request
delivery
of
American
...Gold
Eagles
to
their
doorsteps
in
one
week,
regardless
of
market
volatility
(OUNZ).
Axel
Merk,
head
of
Merk
Investments
returns
to
the
show
-
he
thinks
the
Fed
should
balk
on
next
week's
proposed
rate
hike,
the
first
since
2006,
following
the
advice
of
former
Fed
Chairman,
Ben
Bernanke.
Instead,
policymakers
will
likely
engineer
a
ZIRP
exit
strategy,
pulling
the
trigger
too
quickly,
before
the
deflation
threat
has
fully
passed.
By
reducing
volatility
/
exposure
to
zero,
the
Fed
"put"
has
lulled
investors
into
a
false
sense
of
security,
forcing
savings
into
risky
assets
due
to
zero
interest
rates.
Nevertheless,
the
resulting
complacency
is
costly
and
could
increase
along
with
volatility
in
the
coming
weeks
/
months
as
investors
adjust
expectations
to
include
a
significant
increase
in
risk.
Our
guest
outlines
a
robust,
portfolio
diversification-strategy
by
way
of
global
currencies,
to
vastly
reduce
exposure
to
market
volatility
while
enhancing
overall
expected
return.
From
a
contrarian
stance,
...Gold
and
silver
provide
solid
alternatives
to
over
priced
equities.
Merk
Investments
offers
a
...Gold
ETF
with
the
benefit
of
delivery;
it
is
not
just
theoretical,
investors
can
request
delivery
of
American
...Gold
Eagles
to
their
doorsteps
in
one
week,
regardless
of
market
volatility
(OUNZ).
To
download
this
show
in
Mp3
format,
please
click
here.
Recap.:
George
uses
technical
analysis
to
determine
a
floor
for
the
...Gold
price
between
$800
and
$1000,
in
similar
fashion
as
the
Alpha
Stocks
Newsletter.
He
notes
the
bearish
signal
in
his
technical
work
and
the
bullish
global
demand.
One
explanation
offered
by
industry
experts
involves
shorting
by
the
PPT
to
orchestrate
a
positive
economic
environment.
It
is
essential
to
recognize
the
prevailing
market
bias,
which
remains
downward.
At
stockcharts.com
(XAU)
on
the
weekly
chart
set
to
2001-2004,
the
XAU,
...Gold
and
silver
consolidated
for
years
before
beginning
a
meaningful
advance.
There's
no
need
to
fear
missing
the
next
big
trend;
instead
waiting
for
the
bias
to
shift
to
upward
and
dollar
cost
averaging
is
advisable
Bob
in
Texas
is
concerned
by
the
threat
of
domestic
bank
bail-ins
and
exposure
to
derivatives
such
as
MBS,
CDO,
etc.
Few
if
any
institutions
are
completely
shielded
from
toxic
derivatives.
Once
the
next
credit
crisis
begins
in
earnest
many
investors
will
be
exposed
to
financial
weapons
of
mass
destruction.
By
diversifying
wealth
outside
of
financial
institutions,
not
all
eggs
are
held
in
one
basket;
PMs
and
James
Turks
...Gold
money
offer
solid
alternatives.
Caller,
George
uses
technical
analysis
to
determine
a
floor
for
the
...Gold
price
between
$800
and
$1000,
in
similar
fashion
as
the
Alpha
Stocks
Newsletter.
He's
perplexed
by
the
conflicting
bearish
signal
in
his
technical
work
and
the
bullish
global
demand
as
well
as
the
potential
for
a
force
majeure
and
derivatives
squeeze.
One
explanation
offered
by
industry
experts
involves
the
PPT
shorting
the
PMs
to
orchestrate
a
positive
economic
environment.
Nevertheless
it
is
essential
to
recognize
the
prevailing
market
bias,
which
remains
downward.
At
stockcharts.com
on
the
weekly
chart
set
to
2001-2004,
the
XAU,
...Gold
and
silver
consolidated
above
their
primary
trendlines
for
years
before
beginning
a
meaningful
advance.
Therefore,
there's
no
need
to
fear
missing
the
next
big
trend;
instead
waiting
for
the
bias
to
shift
to
upward
and
then
continue
dollar
cost
averaging
is
advisable.
A
few
solid
markets
in
an
uptrend
include
the
dollar
(UUP),
and
short
term
treasuries
(SHY),
even
the
30
year
treasury
(TLT),
however
there
is
considerable
volatility
in
the
later.
Bob
in
Texas
is
concerned
over
bank
bail-ins
and
those
with
large
derivatives
exposure
such
as
MBS,
CDO,
etc.
Few
if
any
institutions
are
completely
shielded
from
toxic
derivatives.
Once
the
next
credit
crisis
begins
in
earnest
many
firms
will
have
unknown
financial
weapons
of
mass
destruction.
By
diversifying
wealth,
not
all
eggs
are
held
in
one
basket;
PMs
offer
alternatives
and
James
Turks
...Gold
money
is
solid.
Bob
in
Texas,
bank
bail-ins
with
large
derivatives
such
as
MBS,
CDO,
etc
Few
if
any
institutions
are
completely
shielded
from
toxic
derivatives.
Once
the
next
credit
crisis
begins
in
earnest
many
firms
will
have
unknown
financial
weapons
of
mass
destruction.
By
diversifying
wealth,
not
all
eggs
are
held
in
one
basket;
PMs
offer
alternatives
and
James
Turks
...Gold
money
is
solid.
With
silver
production
waning,
demand
could
overwhelm
supply.
According
to
his
work
the
bottom
may
already
be
in
place
in
the
PMs
market.
The
following
scenario
could
occur:
silver
gaps
higher
several
dollars
-
silver
eagles
/
maple
leafs
sell
out
over
night
-
premiums
on
pre-'65
silver
triple.
Major
silver
suppliers
are
reporting
big
premiums
in
pre-'65
silver,
over
$4.00
per
ounce,
a
startling
high
figure.
Bull
markets
oftentimes
require
a
base
building
period
-
David
Morgan
thinks
that
could
be
currently
underway.
But
even
if
the
bottom
is
not
in
place,
the
precious
metals
remain
the
diversification
tool,
du
jour
for
every
investment
portfolio.
David
suggests
watching
the
preparedness
film,
The
Empty
ATM.
The
Silver
Investor
David
Morgan
and
the
host
review
and
article
penned
by
David
Smith
which
shows
that
silver
could
shock
the
financial
community
with
an
explosive
rally
of
epic
proportions.
With
silver
production
waning,
demand
could
overwhelm
supply
at
a
moment's
notice.
According
to
his
work
the
bottom
may
already
be
in
place
for
the
precious
metals.
The
following
scenario
could
occur:
silver
gaps
higher
several
dollars
-
silver
eagles
/
maple
leafs
sell
out
over
night
-
premiums
on
pre-'65
silver
triple
from
the
low
of
the
previous
day.
Major
silver
suppliers
are
reporting
big
premiums
in
pre-'65
silver,
over
$4.00
per
ounce,
a
startling
high
figure.
Bull
markets
oftentimes
require
a
base
building
period
-
David
Morgan
thinks
that
could
be
currently
underway.
But
even
if
the
bottom
is
not
in
place,
the
precious
metals
remain
the
diversification
tool,
du
jour
for
every
investment
portfolio.
David
suggests
watching
the
preparedness
film,
The
Empty
ATM.
James
Turk
of
GoldMoney.com
returns
to
the
program
with
less
than
sanguine
comments
on
the
equities
markets.
A
2008
credit
crisis
redux
appears
imminent,
due
to
reckless
debt
levels,
domestically
and
around
the
globe.
Our
guest
says
the
Fed
may
raise
rates
by
a
token
percentage
this
month
and
in
December,
and
if
so,
the
blowback
will
be
monumental
in
scale,
perhaps
even
toppling
the
entire
economic
edifice.
He's
convinced
that
the
PMs
sector
is
nearing
a
sustainable
nadir,
on
the
heels
of
a
2
year
consolidation.
Silver
should
lead
the
charge
out
of
Dante's
inferno.
The
new
bull
market
could
reinvigorate
mining
company
operations,
in
particular
major
producers
with
excellent
earnings
and
solid
dividends.
James
Turk
of
GoldMoney.com
returns
to
the
program
with
less
than
sanguine
comments
on
the
equities
markets
-
he's
bracing
for
a
2008
credit
crisis
redux,
thanks
in
no
small
part
to
reckless
debt
levels,
domestically
and
around
the
globe.
Our
guest
says
the
Fed
may
raise
rates
by
a
token
percentage
this
month
and
in
December,
and
if
so,
the
blowback
will
be
monumental
in
scale,
perhaps
even
toppling
the
entire
economic
edifice.
He's
convinced
that
the
PMs
sector
is
nearing
a
sustainable
nadir,
on
the
heels
of
a
2
year
consolidation.
Silver
should
lead
the
charge
out
of
Dante's
inferno.
The
new
bull
market
could
reinvigorate
mining
company
operations,
in
particular
major
producers
with
excellent
earnings
and
solid
dividends.
Peter
Grandich
&
Chris
Waltzek
-
September
2,
2015.
Peter
Grandich
rejoins
the
show
with
thoughts
on
geoeconomic
events.
The
PBoC
shifted
policy
recently,
selling
$315
billion
in
US
Treasuries
from
their
$3.65
trillion
reserve
in
support
of
the
ailing
Yuan
currency
and
equities.
Clearly
one
of
the
wisest
of
the
global
central
banks
has
lost
faith
in
the
Fed,
ahead
of
the
first
US
benchmark
rate
hike
since
2006,
nearly
10
years.
Higher
rates
dilutes
the
intrinsic
value
of
existing
US
Treasuries,
as
newer
issues
offer
greater
expected
return.
Our
guest
views
the
event
as
emblematic
of
a
global
crisis
of
confidence
in
centralized
economic
planning.
Intervention
via
the
plunge
protection
team
(PPT)
was
responsible
for
the
500
point
rebound
following
the
2,000
point,
2-day
deluge
in
the
Dow
Industrials.
In
his
30
years
on
Wall
Street,
he's
never
seen
so
much
negativity
on
the
sector,
a
good
sign
that
the
ultimate
nadir
could
be
close.
His
technical
work
suggests
that
a
solid
break
above
$1,200
...Gold
could
lead
to
a
brisk
move
to
$1,300
-
$1,400,
in
lightning
fashion.
The
host
adds
a
cautionary
note,
that
the
onset
of
the
last
PMs
bull
market
offered
ample
time
to
accumulate
positions
-
in
similar
fashion,
there
should
be
no
rush
to
overweight
a
diversified
portfolio.
Peter
Grandich
of
Peter
Grandich
and
Company
rejoins
the
show
with
comments
on
geoeconomic
events.
The
PBoC
shifted
policy
recently,
selling
$315
billion
in
US
Treasuries
from
their
$3.65
trillion
reserve
over
12
months,
in
support
of
the
ailing
Yuan
currency
and
equities,
according
to
a
Bloomberg.com
report.
Clearly
one
of
the
wisest
of
the
global
central
banks
has
lost
faith
in
the
Fed,
ahead
of
the
first
US
benchmark
rate
hike
since
2006,
nearly
10
years.
Higher
rates
dilutes
the
intrinsic
value
of
existing
US
Treasuries,
as
newer
issues
offer
greater
expected
return.
Our
guest
views
the
event
as
emblematic
of
a
global
crisis
of
confidence
in
centralized
economic
planning.
Peter
Grandich
thinks
intervention
via
the
plunge
protection
team
(PPT)
was
responsible
for
the
500
point
rebound
following
the
2,000
point,
2-day
deluge
in
the
Dow
Industrials
Index.
He's
taking
the
contrarian
viewpoint
with
regard
to
the
precious
metals
-
in
his
30
years
on
Wall
Street,
he's
never
seen
so
much
negativity
on
the
sector,
which
is
a
good
sign
that
the
ultimate
nadir
could
be
close
and
a
new
bull
market
at
hand
.
His
technical
work
suggests
that
a
solid
break
above
$1,200
...Gold
could
usher
in
a
brisk
move
to
$1,300
-
$1,400,
in
lightning
fashion.
The
host
adds
a
cautionary
note,
that
the
inception
of
the
last
PMs
bull
market
offered
ample
time
to
accumulate
positions
-
in
similar
fashion,
there
should
be
no
rush
to
overweight
a
diversified
portfolio
with
any
specific
asset
class
until
similar
footprints
emerge
in
the
charts.
Jeffrey
Christian
&
Chris
Waltzek
-
August
27,
2015.
Prominent
economic
analyst,
Jeffrey
Christian
of
CPM
Group
rejoins
the
show
on
the
heels
of
a
pilgrimage
to
South
Africa.
His
team
correctly
forecasted
the
commodities
sector
weakness.
The
cyclical
decline
in
the
bull
market
in
commodities
should
conclude
by
2018.
Our
guest
thinks
the
US
Fed
yields
to,
not
commands
the
financial
trends,
so
a
hike
of
the
benchmark
lending
rate
is
a
non-sequitur.
Given
the
recent
currency
/
equities
market
turmoil,
worldwide.
Our
guest
is
watching
for
signs
that
investors
in
China
start
booking
substantial
equities
profits,
redirecting
capital
into
the
precious
metals
market.
The
battered
crude
oil
sector
could
be
presenting
entry
opportunities;
any
price
below
$40
represents
a
fair
price,
according
to
their
models.
Prominent
economic
analyst,
Jeffrey
Christian
of
CPM
Group
rejoins
the
show
on
the
heels
of
a
pilgrimage
to
South
Africa.
His
team
correctly
forecasted
the
commodities
sector
weakness
-
they
expect
the
cyclical
decline
in
the
bull
market
in
commodities
by
2018.
Our
guest
thinks
the
US
Fed
is
behind
the
financial
trends;
raising
the
benchmark
lending
rate
is
a
non-sequitur,
given
the
recent
currency
/
equities
market
turmoil,
worldwide.
Our
guest
is
watching
for
signs
that
investors
in
China
start
booking
substantial
equities
profits,
redirecting
capital
into
the
precious
metals
market.
They
are
watching
the
battered
crude
oil
sector
for
entry
opportunities;
any
price
below
$40
represents
a
fair
price,
according
to
their
models.
David
Nicoski
of
Vermilion
Technical
Research
makes
his
debut
on
the
show
-
he
deciphers
the
market
dynamics
from
a
technical
perspective,
in
particular
relative
strength
analysis.
Starting
last
Wednesday,
the
market
plunged
sharply,
fulfilling
a
bearish
diamond
pattern
prophecy.
The
thousand
point
decline
in
the
Dow
Jones
Industrials
Average
last
week
was
followed
by
a
1,000
point
intraday
collapse
on
Monday.
Our
guest
expects
further
negative
price
action
amid
a
flurry
of
unexpectedly
bearish
news
events.
An
ominous
diamond
pattern
recently
emerged
in
US
equities
-
strikingly
similar
to
the
1929
market
zenith.
One
overlooked
gem
in
the
rough
is
the
Nikkei
index
(DXJ).
David
Nicoski
thinks
that
Japan's
equities
bourse
is
on
the
cusp
of
a
10
year
bull
cycle.
His
analysis
on
individual
sectors
can
markedly
improve
portfolio
results,
as
the
typical
difference
between
solid
/
weak
sectors
exceeds
45%.
The
guest
notes
the
US
stock
indexes
should
not
be
compared
beyond
a
few
years,
as
stocks
are
added
/
dropped
too
frequently
to
make
useful
comparisons.
He
is
waiting
for
a
bottom
pattern
to
unfold
in
the
PMs
sector,
such
as
an
inverse
head
and
shoulders,
double
/
triple
bottom.
David
Nicoski
of
Vermilion
Technical
Research
makes
his
debut
on
the
show
-
he
deciphers
the
market
dynamics
from
a
technical
perspective,
in
particular
relative
strength
analysis.
Starting
last
Wednesday,
the
market
plunged
sharply,
fulfilling
the
diamond
pattern
prophecy.
The
thousand
point
decline
in
the
Dow
Jones
Industrials
Average
last
week
was
followed
by
a
1,000
point
intraday
collapse
on
Monday,
which
ended
the
day
with
a
588
point
loss.
Our
guest
expects
further
negative
price
action
amid
a
flurry
of
unexpectedly
bearish
news
events.
An
ominous
diamond
pattern
recently
emerged
in
US
equities
-
strikingly
similar
to
the
1929
market
zenith.
One
overlooked
gem
in
the
rough
is
the
Nikkei
index
(DXJ)
-
David
Nicoski
thinks
that
Japan's
equities
bourse
is
on
the
cusp
of
a
10
year
bull
cycle.
His
analysis
on
individual
sectors
can
markedly
improve
portfolio
results,
as
the
typical
difference
between
solid
/
weak
sectors
exceeds
45%.
The
guest
makes
an
interesting
point:
the
US
stock
indexes
should
not
be
compared
beyond
a
few
years,
as
stocks
are
added
/
dropped
too
frequently
to
make
useful
comparisons.
He
is
waiting
for
a
bottom
pattern
to
unfold
in
the
PMs
sector,
such
as
an
inverse
head
and
shoulders,
double
/
triple
bottom.
Gary
Dorsch,
publisher
of
Global
Money
Trends
Newsletter,
notes
how
officials
around
the
globe
continue
to
debase
their
money
to
bolster
ailing
economies.
The
race
to
the
bottom
may
have
dire
consequences,
worldwide.
Not
only
are
some
company
shares
collapsing,
but
their
bonds,
too.
Our
guest
notes
that
the
economy
is
producing
on
average
200,000
jobs
per
month,
home
prices
have
recovered
while
corporate
conditions
have
improved
markedly,
so
it's
inappropriate
to
hold
rates
near
zero.
Expect
the
Fed
to
follow
the
advice
of
the
BIS
and
end
the
6.5
year
holding
pattern
with
a
rate
hike
next
month.
The
ECB
and
BOJ
will
continue
quantitative
easing
by
a
combined
$1.5
trillion.
Yields
on
low
quality
bonds
continue
to
soar,
pushing
prices
to
record
lows.
Our
guest
expects
...Gold
to
find
a
bottom
around
$1,000
per
ounce.
Proviso:
if
the
Fed
holds
rates
steady,
the
bottom
may
already
be
in
place.
Gary
Dorsch,
publisher
of
Global
Money
Trends
Newsletter,
outlines
global
currency
volatility
-
officials
around
the
globe
continue
to
debase
their
money
to
bolster
ailing
economies.
Nonetheless,
the
race
to
the
bottom
may
have
dire
consequences,
worldwide.
For
instance,
not
only
some
company
shares
are
collapsing,
but
their
bonds,
too.
The
impact
on
the
sector
is
profound
and
officials
are
advised
to
take
notice,
as
the
infection
could
spread
systemically
through
the
economy.
Our
guest
notes
that
the
economy
is
producing
on
average
200,000
jobs
per
month,
home
prices
have
recovered
sprightly
and
corporate
conditions
have
improved
markedly,
so
it's
inappropriate
to
hold
rates
near
zero.
Therefore,
he
expects
the
Fed
to
follow
the
prodding
of
the
Bank
of
International
Settlements
(BIS)
to
end
the
6.5
year
holding
pattern
and
hike
rates
next
month,
while
the
ECB
and
BOJ
accelerate
quantitative
easing
by
a
combined
$1.5
trillion.
The
net
effect
amounts
to
financial
rocket
fuel,
which
could
catapult
the
US
dollar
higher,
over
the
next
year.
Yields
on
low
quality
bonds
continue
to
soar,
pushing
debt
prices
to
record
lows,
similar
to
2008.
Gary
Dorsch
expects
...Gold
to
find
a
bottom
around
$1,000
per
ounce,
due
in
part
to
the
$1,000
per
ounce
mining
cost
of
production.
However,
if
the
Fed
fails
to
hike
rates
as
predicted,
the
bottom
may
already
be
in
place.
Peter
Schiff,
Chairman
of
SchiffGold.com
and
the
host
discuss
the
expected
Fed
rate
hikes,
scheduled
for
as
soon
as
next
month.
Our
guest
thinks
the
benchmark
rate
will
remain
set
near
zero,
providing
the
rocket
fuel
to
propel
the
precious
metals
into
orbit.
The
domestic
economic
is
in
far
worse
shape
than
indicated
by
the
official
data
so
a
rate
hike
could
crush
the
economy.
Fed
officials
will
avoid
rate
hikes
igniting
a
new
wave
of
quantitative
easing,
QE4.
Signs
of
underlying
economic
weakness
abound,
such
as
the
lowest
home
ownership
rate
in
50
years.
The
guest
/
host
concur
that
the
Monetarist
panacea
involves
holding
rates
steady
and
not
raising
them
to
ward
off
the
looming
financial
crisis.
Peter
Schiff
calms
investors
concerns
regarding
the
bear
market,
noting
that
another
20
year
downtrend
is
unlikely.
Peter
Schiff,
Chairman
of
SchiffGold.com
and
the
host
discuss
the
expected
Fed
rate
hikes,
scheduled
for
as
soon
as
next
month.
Our
guest
thinks
the
benchmark
rate
will
remain
set
near
zero,
providing
the
rocket
fuel
to
propel
the
precious
metals
into
orbit.
The
domestic
economic
is
in
far
worse
shape
than
indicated
by
the
official
data
so
a
rate
hike
could
crush
the
economy.
Therefore,
Fed
officials
will
hold
off
on
rate
hikes.
He
expects
a
new
wave
of
quantitative
easing,
QE4
as
officials
recognize
the
bogus
statistics
has
also
limited
their
available
options
to
avert
an
economic
implosion.
Signs
of
underlying
economic
weakness
abound,
such
as
the
lowest
home
ownership
rate
in
50
years
-
low
income
growth
cannot
support
inflated
McMansion
mortgages.
The
guest
/
host
concur
that
the
Monetarist
panacea
involves
holding
rates
steady
and
not
raising
them
to
ward
off
the
looming
financial
crisis.
Peter
Schiff
calms
investors
concerns
regarding
the
bear
market,
noting
that
another
20
year
downtrend
is
unlikely,
thanks
in
no
small
part
to
the
following
financial
bubbles:
real
estate,
bonds
and
equities.
...Gold
stocks
are
the
cheapest
in
history,
even
better
valued
than
in
2000.
John
Williams
of
Shadowstats.com
returns
to
the
show
with
dire
comments
on
the
domestic
economy.
Headline
inflation
is
understated
by
opaque
statistical
methods,
making
national
output
seem
much
more
robust
than
reality.
Dollar
strength
is
supported
by
the
perception
of
economic
recovery,
but
a
stealth
recession
looms.
Once
the
the
public
recognizes
they've
been
duped
and
panic
ensues,
his
models
indicate
that
...Gold
and
energy
investments
will
ascend
to
inspirational
heights.
John
Williams
thinks
investors
should
ignore
the
FOMC;
even
if
officials
raise
rates
in
September
and
again
in
December,
the
markets
have
already
discounted
the
event.
His
constructs
all
foretell
of
a
singular,
inevitable
outcome
-
global
hyperinflation.
John
Williams
of
Shadowstats.com
returns
to
the
show
with
dire
comments
on
the
domestic
economy.
Headline
inflation
is
understated
by
opaque
statistical
methods,
making
national
output
seem
much
more
robust
than
reality.
In
fact,
a
stealth
recession
looms.
Dollar
strength
is
supported
by
the
perception
of
economic
recovery,
but
the
fata
morgana
could
evaporate,
leading
to
a
devaluation
of
Herculean
proportions.
Once
the
panic
ensues,
his
models
indicate
that
...Gold
and
energy
investments
will
ascend
to
inspirational
heights.
John
Williams
thinks
investors
should
ignore
the
FOMC;
even
if
officials
raise
rates
in
September
and
again
in
December,
the
markets
have
already
discounted
the
event.
His
models
/
constructs
all
foretell
of
a
singular,
inevitable
outcome
-
global
hyperinflation.
Dr.
Stephen
Leeb
&
Chris
Waltzek
-
August
11,
2015.
Dr.
Leeb
and
the
host
discuss
the
opportunity
for
every
nation
to
extend
friendship,
embrace
and
glean
pearls
of
wisdom
from
the
second
largest
economic
powerhouse,
China
to
garner
synergies
across
this
national
borders.
Dr.
Leeb
applauds
China's
initiative,
in
particular
the
recent
2015
stock
market
crash
of
30%
in
only
3
weeks
(PEK)
was
offset
via
swift
intervention.
The
host
agrees
with
Dr.
Leeb's
stance
on
...Gold
backed
currencies
-
it
is
an
inevitability
that
price
will
adjust
to
reflect
the
true
intrinsic
value.
The
discussion
turns
to
the
2,500
year
old
book
of
wisdom,
The
Art
of
War
by
Sun
Tzu
(Free
.Pdf
copy
here).
Dr.
Leeb
suggests
the
story
of
Ah
Q,
based
loosely
on
reality,
a
China
folk
hero
who
overcame
the
slings
of
false
accusations,
slander
and
belittlement.
By
understanding
the
wisdom
of
respect
and
fair
treatment,
Western
officials,
diplomats
and
business
people
can
build
synergies
with
China.
The
duo
discuss
a
concept
posed
in
Wealth
Building
Strategies,
Waltzek
(2010),
where
officials
could
have
directed
the
credit
crisis
related,
trillions
of
dollars
in
bailout
funds
directly
to
struggling
homeowners,
and
restored
the
financial
system
by
reenacting
the
Glass-Stegall
Act.
If
US
officials
had
accepted
that
the
onus
of
debt
repayment
involves
a
partnership
between
the
lender
and
the
debtor,
this
nation
would
flourish
amid
a
new
economic-rennaissance.
Dr.
Leeb
reexamines
...Gold
in
terms
of
fiat
money,
noting
gold's
platonic
qualities,
particularly
when
juxtaposed
against
paper
money.
When
the
monetary
system
eventually
implodes
and
the
injustices
between
the
top
and
bottom
classes
comes
to
the
fore,
...Gold
will
again
regain
an
essential
role
in
global
society,
making
the
precious
metals
a
must-have
asset
for
every
individual.
Professed
Americanophiles,
Dr.
Leeb
and
the
host
discuss
the
opportunity
for
every
nation
to
extend
friendship,
embrace
and
glean
pearls
of
wisdom
from
the
second
largest
economic
powerhouse,
China
to
garner
synergies
across
this
national
borders.
Dr.
Leeb
applauds
China's
initiative,
in
particular
the
recent
2015
stock
market
crash
of
30%
in
only
3
weeks
(PEK)
was
offset
via
swift
intervention
on
the
part
of
officials
(companies
were
allowed
to
halt
share
trading,
and
certain
short
selling
was
banned,
etc..).
The
host
agrees
with
Dr.
Leeb's
stance
on
...Gold
backed
currencies
-
it
is
an
inevitability
that
price
will
adjust
to
reflect
the
true
intrinsic
value
at
an
astronomically
higher
price,
reflecting
the
enormous
paper
money
scheme.
The
discussion
turns
to
the
2,500
year
old
book
of
wisdom,
The
Art
of
War
by
Sun
Tzu
(Free
.Pdf
copy
here).
Dr.
Leeb
suggests
the
story
of
Ah
Q,
based
loosely
on
reality,
a
China
folk
hero
who
overcame
the
slings
of
false
accusations,
slander
and
belittlement.
By
understanding
the
wisdom
of
respect
and
fair
treatment,
Western
officials,
diplomats
and
business
people
can
build
synergies
with
China
to
the
benefit
of
both
cultures.
In
addition,
the
duo
discuss
a
concept
posed
in
Wealth
Building
Strategies,
Waltzek
(2010),
where
officials
could
have
directed
the
credit
crisis
related,
trillions
of
dollars
in
bailout
funds
directly
to
struggling
homeowners,
and
restored
the
financial
system
by
reenacting
the
Glass-Stegall
Act.
If
US
officials
had
accepted
that
the
onus
of
debt
repayment
involves
a
partnership
between
the
lender
and
the
debtor,
this
nation
would
flourish
amid
a
new
economic-renaissance.
Dr.
Leeb
reexamines
...Gold
in
terms
of
fiat
money,
noting
gold's
platonic
qualities,
particularly
when
juxtaposed
against
paper
money.
When
the
monetary
system
eventually
implodes
and
the
injustices
between
the
top
and
bottom
classes
comes
to
the
fore,
...Gold
will
again
regain
an
essential
role
in
global
society,
making
the
precious
metals
a
must-have
asset
for
every
individual.
Gerald
Celente
says
the
Greeks
invented
Western
society
and
are
now
at
the
forefront
of
its
decline.
The
duo
discuss
how
the
end
of
the
Glass-Steagall
Act,
opened
Pandora's
box,
leading
to
the
crisis
of
2008.
The
banking
system
was
not
intended
to
be
a
national
casino,
but
was
established
first
as
a
means
to
facilitate
individuals
and
businesses.
Despite
the
2008
credit
crisis
that
nearly
collapsed
the
global
economy,
resulting
with
a
total
reset,
little
has
changed.
The
necessary
legislation
was
not
reinstated
and
7.3
billion
global
inhabitants
will
eventually
face
another
financial
crisis
of
even
greater
significance.
Gerald
Celente
agrees
that
the
economy
is
bifurcated
between
the
haves
and
have-nots.
He
makes
a
début
announcement
on
Goldseek.com
Radio:
an
equities
crash
is
imminent.
Although
the
host
does
not
concur
with
their
sentiments,
a
correction
of
10-20%
is
overdue,
given
empirical
data.
Gerald
notes
the
strong
dollar
may
be
tough
for
domestic
...Gold
investors,
but
global
investors
are
benefiting
from
precious
metals
valuations
relative
to
the
lost
purchasing
power
of
their
currencies.
Gerald
Celente
returns
to
the
show
with
the
latest
edition
of
the
Trends
Journal.
He
says
the
Greeks
invented
Western
society
and
are
now
at
the
forefront
of
its
decline.
The
duo
discuss
how
the
end
of
the
Glass-Steagall
Act,(passed
in
1933
as
the
Banking
Act,
which
forbid
money
center
banks
managing
individual
accounts
from
engaging
in
speculative
ventures
with
client
funds),
opened
Pandora's
box,
leading
to
the
crisis
of
2008.
The
banking
system
was
not
intended
to
be
a
national
casino,
but
was
established
first
as
a
means
to
facilitate
individuals
and
businesses.
Yet
despite
the
2008
credit
crisis
that
nearly
collapsed
the
global
economy,
resulting
with
a
total
reset,
little
has
changed
-
the
necessary
legislation
was
not
reinstated
and
7.3
billion
global
inhabitants
will
eventually
face
another
financial
crisis
of
even
greater
significance.
Gerald
Celente
agrees
that
the
economy
is
bifurcated
between
the
haves
and
have-nots
he
makes
a
début
announcement
on
Goldseek.com
Radio:
an
equities
crash
is
imminent,
an
ontology
shared
with
virtually
every
previous
pundit
from
earlier
episodes
on
the
show.
Although
the
host
does
not
concur
with
their
sentiments,
a
correction
of
10-20%
is
overdue,
given
empirical
data.
Gerald
notes
the
strong
dollar
may
be
tough
for
domestic
...Gold
investors,
but
global
investors
are
benefiting
from
precious
metals
valuations
relative
to
the
lost
purchasing
power
of
their
currencies.
Bob
Hoye,
senior
investment
strategist
at
Institutional
Advisors,
and
the
host
examine
the
markets
for
signs
of
financial
crisis.
Thanks
to
profligate
money
printing
and
complex
derivatives,
speculation
is
rife,
increasing
exposure
and
the
risk
of
another
financial
crisis.
Amid
several
recent
equities
market
implosions,
in
peripheral-nations,
the
infection
could
soon
spread
to
Wall
Street.
Bob
Hoye
presents
his
key
technical
market
forecasting
/
prediction
metrics,
offering
an
invaluable
educational
opportunity
for
the
technically
inclined.
Following
a
three
year
rout,
Bob
expects
a
new
...Gold
rally
to
ignite
the
next
bull
market.
The
general
equities
market
is
showing
signs
of
fatigue,
given
the
weak
advance
/
decline
figures
and
negative
seasonal
factors.
The
host
defends
the
...Gold
standard
as
the
de
facto
monetary
base.
The
common
argument
put
forward
by
naysayers,
that
there's
simply
not
enough
...Gold
/
silver
to
back
all
the
money
in
the
world,
is
a
non
sequitur
an
inevitable
price
eruption
of
epic
proportions,
looms.
Given
the
widening
credit
spreads
and
deflation
threat,
Bob
suggests
reducing
debt
exposures.
The
duo
applaud
the
work
of
Tutte
and
Flowers,
two
unsung
heroes
who
facilitated
the
decryption
of
the
Lorenz
machine,
the
indecipherable
cousin
of
the
Enigma
machine,
considered
an
impossible
intellectual
feat
at
the
time.
Bob
Hoye,
senior
investment
strategist
at
Institutional
Advisors,
and
the
host
examine
the
markets
for
signs
of
financial
crisis.
Thanks
to
profligate
money
printing
and
complex
derivatives,
speculation
is
rife,
increasing
exposure
and
the
risk
of
another
financial
crisis.
In
addition,
amid
several
peripheral-nation
equities
market
implosions,
the
infection
could
soon
spread
to
Wall
Street.
Bob
Hoye
presents
his
key
technical
market
forecasting
/
prediction
metrics,
offering
an
invaluable
educational
opportunity
for
the
technically
inclined.
Following
a
three
year
rout,
Bob
expects
a
new
...Gold
rally
to
ignite
the
next
bull
market.
Conversely,
the
general
equities
market
is
showing
signs
of
fatigue,
given
the
weak
advance
/
decline
figures
and
negative
seasonal
factors.
The
host
defends
the
...Gold
standard
as
the
de
facto
monetary
basis,
noting
how
a
founder
of
the
field
of
economics,
Adam
Smith's
invisible
hand
virtually
assures
that
market
forces
will
eventually
overcome
official
schemes,
sending
the
precious
metals
prices
skyward.
The
common
argument
put
forward
by
naysayers,
that
there's
simply
not
enough
...Gold
/
silver
to
back
all
the
money
in
the
world,
is
a
non
sequitur
-
an
inevitable
price
eruption
of
epic
proportions,
looms.
Given
the
widening
credit
spreads
and
deflation
threat,
Bob
suggests
reducing
debt
exposures.
The
duo
applaud
the
work
of
Tutte
and
Flowers,
two
unsung
heroes
who
facilitated
the
decryption
of
the
Lorenz
machine,
the
indecipherable
cousin
of
the
Enigma
machine,
considered
an
impossible
intellectual
feat
at
the
time.
Their
efforts
arguably
turned
the
tide
of
the
Great
War
in
favor
of
the
allies.
Richard
Daughty
&
Chris
Waltzek
-
July
23,
2014.
Powered
by
Podbean.com
To
download
the
free
mp3
file,
please:
click
here.
Summary:
Richard
Daughty,
AKA
"The
Mogambo
Guru,"
returns
to
the
show
with
comments
on
the
impending
Fed
rate
hikes.
Officials
have
borrowed
far
beyond
their
means,
putting
their
constituents
on
the
line
in
similar
fashion
as
every
other
defunct
government
in
economic
history.
Not
once
in
recorded
history
has
any
society
escaped
the
clutches
of
a
fiat
paper
system
without
facing
severe
financial
consequences.
With
nearly
half
of
investors
wealth
tied
to
the
US
stock
market,
officials
have
a
vested
interest
in
holding
prices
artificially
high.
The
lack
of
transparency
is
becoming
intense,
financial
opaqueness
is
the
new
standard
practice.
The
Mogambo
has
not
ruled
out
divine
intervention,
yet
he's
hesitant
to
stake
the
household
nest
egg
on
it.
The
duo
compare
the
financial
mess
to
the
fateful
last
voyage
of
the
RMS
Titanic
Overconfidence
has
resulted
with
too
few
life
boats
for
over
300
million
Americans.
Savvy
investors
have
learned
the
lesson
of
history,
by
adding
precious
metals
investments
to
their
portfolios,
no
financial
iceberg
is
large
enough
to
breach
the
portfolio
hull.
The
portability
of
precious
metals
further
enhances
the
life
preserver-like
qualities.
Richard
Daughty,
AKA
"The
Mogambo
Guru,"
returns
to
the
show
with
comments
on
the
impending
Fed
rate
hikes.
Officials
have
borrowed
far
beyond
their
means,
putting
their
constituents
on
the
line
in
similar
fashion
as
every
other
defunct
government
in
economic
history.
Not
once
in
recorded
history
has
any
society
escaped
the
clutches
of
a
fiat
paper
system
without
facing
severe
financial
consequences.
With
nearly
half
of
investors
wealth
tied
to
the
US
stock
market,
officials
have
a
vested
interest
in
holding
prices
artificially
high.
His
work
indicates
that
huge
amounts
of
capital
is
swept
from
the
domestic
banking
system
after
business
hours,
directed
to
the
bond
market
to
maintain
the
status
quo.
But
the
lack
of
transparency
is
becoming
intense,
financial
opaqueness
is
the
new
standard
practice.
The
Mogambo
has
not
ruled
out
divine
intervention,
yet
he's
hesitant
to
stake
the
household
nest
egg
on
it.
The
duo
compare
the
financial
mess
to
the
fateful
last
voyage
of
the
RMS
Titanic
-
overconfidence
has
resulted
with
too
few
life
boats
for
over
300
million
Americans.
Nonetheless,
savvy
investors
have
learned
the
lesson
of
history,
by
adding
precious
metals
investments
to
their
portfolios,
no
financial
iceberg
is
large
enough
to
breach
the
portfolio
hull.
The
portability
of
precious
metals
further
enhances
the
life
preserver-like
qualities.
John
Embry
&
Chris
Waltzek
-
July
21,
2015.
Powered
by
Podbean.com
Please
download
this
show
in
Mp3
format:
click
here.
Abstract:
John
Embry,
Chief
Investment
Strategist
at
Sprott
Asset
Management,
returns
to
the
program
with
his
thoughts
on
the
precious
metals
sector.
The
duo
caution
investors
from
parking
too
many
investment
portfolio
eggs
in
paper
assets,
stocks
/
bonds
given
the
abrupt
rout
in
the
Shanghai
index
Conversely,
the
pullback
in
the
precious
metals
sector
is
presenting
a
golden
opportunity
to
procure
value
via
dollar
cost
averaging.
Given
the
current
mega-discounted
prices,
...Gold
and
silver
producers
are
trading
at
a
fraction
of
the
price
of
their
underlying
metals.
Our
guest
notes
the
Greek
nation
is
bankrupt,
but
EU
economic
ministers
are
constrained
from
stringent
practices,
because
an
exit
could
damage
credibility,
sending
the
dominos
falling
among
other
debt
laden
peripheral
members.
The
guest
and
host
concur
that
the
onus
of
responsibility
for
debt
repayment
falls
squarely
on
the
shoulders
of
the
lender.
Nevertheless,
the
easy
money
carrot
is
still
dangling,
as
the
potential
profits
are
too
enticing
for
some
to
resist.
A
mini-case
study
of
Greece
vs.
Iceland
involves
the
2008
credit
crisis.
Iceland
emerged
in
far
better
economic
shape.
By
managing
lenders
and
focusing
on
the
rights
of
individuals,
unemployment
and
GDP,
economic
order
quickly
revived,
relative
to
Greece,
where
officials
chose
to
ignore
the
Icelandic
success
story
(Figures
1.1.
-
1.3.).
The
Icelandic
tale
resembles
a
modern
economic
version
of
David
vs.
Goliath.
John
Embry,
Chief
Investment
Strategist
at
Sprott
Asset
Management,
returns
to
the
program
with
his
thoughts
on
the
precious
metals
sector.
The
duo
caution
investors
from
parking
too
many
investment
portfolio
eggs
in
paper
assets,
stocks
/
bonds
given
the
abrupt
rout
in
the
Shanghai
index
shares,
where
a
30%
decline
occurred
in
only
3
weeks,
illustrating
how
fast
paper
profits
can
evaporate.
Conversely,
the
pullback
in
the
precious
metals
sector
is
presenting
a
golden
opportunity
to
procure
value
via
dollar
cost
averaging.
Given
the
current
mega-discounted
prices,
...Gold
and
silver
producers
are
trading
at
a
fraction
of
the
price
of
their
underlying
metals.
Our
guest
notes
the
Greek
nation
is
bankrupt,
but
EU
economic
ministers
are
constrained
from
stringent
practices,
because
an
exit
could
damage
credibility,
sending
the
dominos
falling
among
other
debt
laden
peripheral
members.
The
guest
and
host
concur
that
the
onus
of
responsibility
for
debt
repayment
falls
squarely
on
the
shoulders
of
the
lender,
but
due
in
part
to
collateralization,
the
risk
exposure
was
transferred
away
from
the
lenders,
distributed
among
investors
with
little
inside
knowledge
of
the
true
default
risk.
The
traditional
lending
system,
where
local
lenders
went
to
school
/
temple
/
church,
etc.
with
the
borrowers,
was
replaced
with
collateralization
where
debts
are
packaged,
into
CDS
and
MBS,
tranched,
sliced
/
diced
to
hypothetically
contain
risk.
Nevertheless,
the
easy
money
carrot
is
still
dangling,
as
the
potential
profits
are
too
enticing
for
some
to
resist.
A
mini-case
study
of
Greece
vs.
Iceland
involves
the
2008
credit
crisis.
Clearly,
Iceland
emerged
in
far
better
economic
shape
-
by
dealing
with
unfair
lenders
and
focusing
on
the
rights
of
individuals,
unemployment
and
GDP,
economic
order
quickly
revived,
relative
to
Greece,
where
officials
chose
to
ignore
the
Icelandic
success
story
(Figures
1.1.
-
1.3.).
The
Icelandic
tale
resembles
a
modern
economic
version
of
David
vs.
Goliath
-
with
virtually
no
political
/
military
clout,
less
than
1
million
people
defeated
a
foe
many
times
in
number.
Please
click
the
images
for
a
larger,
closer
view.
Figure
1.1.
A
Tale
of
Two
Debtors:
Greece
vs.
Iceland
To
download
the
free
mp3
file,
please:
click
here.
Show
Recap.:
Arch
Crawford,
head
of
Crawford
Perspectives,
is
sticking
with
his
dire
prognostication
for
the
rest
of
2015.
The
stock
market
could
face
severe
consequences,
amid
market
manipulation.
The
M2
money
supply
velocity
figure
has
collapsed
to
the
lowest
level
on
record,
since
first
tabulated
in
1959,
suggesting
that
the
trillions
in
Fed
debt
purchases
has
done
little
to
stimulate
economic
output.
Institutions
are
simply
parking
cash
in
less
risky
investments
amid
severe
market
manipulation
(Figure
1.1.).
Given
the
ominous
"death
cross"
seen
in
the
non-confirmation
of
the
transports
sector
relative
to
new
highs
in
the
Dow
Jones
Industrials.
Arch
says
the
market
top
is
in
place
and
no
new
highs
are
likely.
His
prediction
is
dire,
modern
civilization
hangs
in
the
balance
as
a
Kondratiev
Winter-like
scenario
leads
to
the
end
of
most
financial
markets.
At
the
root
of
the
systematic
problem
is
the
fractional
banking
system,
which
prints
money
into
existence
at
will
with
limited
to
zero
oversight.
Nevertheless,
cooler
heads
may
prevail
-
the
host
shares
his
market
ontology,
coining
the
pun,
"blog-o-fear,"
a
play
on
blog-o-sphere,
as
fear
sells
and
far
too
many
pundits
are
making
bearish
calls.
Most
market
peaks
are
accompanied
by
euphoria
and
or
complacency.
Arch
Crawford,
head
of
Crawford
Perspectives,
is
sticking
with
his
dire
prognostication
for
the
rest
of
2015
-
the
stock
market
could
face
severe
consequences,
amid
market
manipulation.
His
work
indicates
startling
parallels
between
the
current
global
equities
markets
and
the
2008
credit
crisis
deluge.
The
M2
money
supply
velocity
figure
has
collapsed
to
the
lowest
level
on
record,
since
first
tabulated
in
1959,
suggesting
that
the
trillions
in
Fed
debt
purchases
has
done
little
to
stimulate
economic
output.
Institutions
are
simply
parking
cash
in
less
risky
investments
amid
severe
market
manipulation
(Figure
1.1.).
Given
the
ominous
"death
cross"
seen
in
the
non-confirmation
of
the
transports
sector
relative
to
new
highs
in
the
Dow
Jones
Industrials,
Arch
says
the
market
top
is
in
place
and
no
new
highs
are
likely.
His
ominous
outlook
includes
the
end
of
modern
civilization,
as
a
Kondratiev
Winter
scenario
leads
to
the
end
of
most
financial
markets.
At
the
root
of
the
systematic
problem
is
the
fractional
banking
system,
which
prints
money
into
existence
at
will,
with
limited
oversight.
Nevertheless,
cooler
heads
may
prevail
-
the
host
shares
his
market
ontology,
coining
the
pun,
"blog-o-fear,"
a
play
on
blog-o-sphere,
as
fear
sells
and
far
too
many
pundits
have
donned
bear
suits;
most
market
peaks
are
accompanied
by
euphoria
and
or
complacency.
Catherine
Austin
Fitts
&
Chris
Waltzek
-
July
14,
2015.
She's
concerned
by
the
crumbling
US
infrastructure
and
lack
of
constructive
efforts
to
rectify
the
situation.
Whereas,
China
continues
to
pour
funds
into
its
infrastructure
On
a
trip
to
China
she
discovered
that
80%
of
the
legislature
is
written
by
economists
/
engineers,
while
90%
of
US
legislation
is
dictated
by
attorneys.
Investment
in
infrastructure
will
determine
if
the
bifurcated
economy
unites
as
a
viable
competitive
engine.
The
former
Wall
Street
maven
says
US
stocks
are
overdue
for
a
correction.
The
US
dollar
rally,
fomented
by
the
Fed
rate
hike
policies,
could
jeopardize
the
global
equity
market
advance.
Catherine
Austin
Fitts,
former
Assistant
Secretary
of
Housing
and
Federal
Housing
Commissioner
and
president
of
Solari,
Inc.,
Publisher
of
the
Solari
Report,
returns
to
the
show.
She's
concerned
by
the
crumbling
US
infrastructure
and
lack
of
constructive
efforts
to
rectify
the
situation.
Whereas,
China
continues
to
pour
funds
into
its
infrastructure
On
a
trip
to
China
she
discovered
that
80%
of
the
legislature
is
written
by
economists
/
engineers,
while
90%
of
US
legislation
is
dictated
by
attorneys.
Our
guest
is
convinced
that
investment
in
infrastructure
will
determine
if
the
bifurcated
economy
unites
as
a
viable
competitive
engine.
The
former
Wall
Street
maven
says
US
stocks
are
overdue
for
a
correction,
supporting
and
echoing
the
sentiments
of
virtually
all
recent
guests.
The
US
dollar
rally,
fomented
by
the
Fed
rate
hike
policies,
could
jeopardize
the
global
equity
market
rally.
CEO
&
President
Christopher
Jones
&
Chris
Waltzek
-
July
9,
2015.
CEO
&
President
Christopher
Jones
of
Uranium
Resources
(URRE)
makes
his
debut
appearance.
His
track
record
of
success
spans
30
years
and
several
companies
including
silver
/
copper
mines,
an
oil
sands
operation
and
a
coal
company,
culminating
with
the
latest
project,
Uranium
Resources
(URRE).
One
of
CEO
Christopher
Jones'
strengths
includes
a
penchant
for
identifying
companies
with
"great
bones,
potential
and
stories"
then
joining
the
management
team,
and
transforming
the
diamond
in
the
rough
into
a
polished
gem
stone.
Uranium
Resources
is
on
track
to
become,
"...
a
low
cost
producer
able
to
produce
in
any
conceivable
market."
Our
guest
expects
uranium
prices
to
soar
in
the
coming
years,
well
above
$40
a
pound
making
operations
highly
profitable.
The
Butler
Ranch
Project
initial
drill
results
from
earlier
this
year
and
the
data
acquisition
will
facilitate
resource
confirmation
drilling
on
the
leases.
The
discounted
data
acquisition
cost
($150,000)
resulted
in
a
windfall
1.2
million
pounds
of
resources,
about
one
dime
per
pound.
Once
the
data
arrives
and
is
modeled,
operations
could
commence
as
soon
as
2018.
By
moving
the
Rosita
facility
in
Texas
to
Turkey,
the
$11
million
in
cost
savings
will
boost
the
NPV
/
IRR,
offering
a
competitive
advantage
to
the
benefit
of
the
stockholders.
The
Church
Rock
project
and
related
properties
include
200,000
acres
in
New
Mexico
near
Albuquerque
as
well
as
Gallup,
New
Mexico.
The
Anatolia
equity
listing
in
Australia
will
be
maintained,
enhancing
investment
related
geographical-diversification.
Goldseek's
President
and
mining
company
expert,
Peter
Spina
has
identified
another
exciting
opportunity:
Uranium
Resources.
CEO
&
President
Christopher
Jones
makes
his
debut
appearance.
His
track
record
of
success
spans
30
years
and
several
operations
including
silver
/
copper
mines,
an
oil
sands
operation
and
a
coal
company,
culminating
with
the
latest
project,
Uranium
Resources
(URRE).
One
of
CEO
Christopher
Jones'
talents
includes
identifying
prospects
with
"great
bones,
potential
and
stories"
and
then
joining
the
management
team,
transforming
a
diamond
in
the
rough
into
a
polished
gem
stone.
Uranium
Resources
is
on
track
to
become
"...
a
low
cost
producer
able
to
produce
in
any
conceivable
market."
Our
guest
expects
uranium
prices
to
soar
in
the
coming
years,
well
above
$40
a
pound
facilitating
profitable
operations.
The
Butler
Ranch
Project
initial
drill
results
from
earlier
this
year
and
the
data
acquisition
will
facilitate
resource
confirmation
drilling
on
the
leases.
The
discounted
data
acquisition
of
$150,000
resulted
in
a
windfall
of
1.2
million
pounds
of
resources,
at
a
bargain
cost
of
one
dime
per
pound.
Once
the
data
arrives
and
is
modeled,
operations
could
commence
as
soon
as
2018.
Two
"ready
to
operate
facilities"
near
Corpus
Christi,
Texas
are
each
capable
of
800,000
lbs.
Of
production.
In
addition,
the
Church
Rock
Project
and
related
properties
are
comprised
of
200,000
acres
in
New
Mexico
near
Albuquerque
as
well
as
in
Gallup,
New
Mexico.
The
Anatolia
project
has
a
remarkable
IRR
of
65%.
The
acquisition
involves
moving
the
Rosita
facility
in
Texas
to
Turkey,
en
passant
saving
$11
million,
boosting
the
NPV
/
IRR
and
yielding
a
competitive
advantage
to
the
benefit
of
stockholders.
Furthermore,
the
Anatolia
equity
listing
in
Australia
will
be
maintained,
increasing
share
diversification
qualities.
Economist
and
best-selling
author
Harry
S.
Dent
Jr.,
returns
with
comments
on
the
latest
Grexit
drama,
noting
a
default
is
imminent.
A
bankruptcy
will
benefit
the
nation
as
forced
fiscal
responsibility
curtails
government
profligacy.
The
only
country
to
effectively
ameliorate
the
debt
problem
is
Iceland,
which
defaulted
on
foreign
debt
shielding
constituents
from
predatory
lending
practices.
The
Icelandic
economy
has
emerged
from
the
malaise
intact
and
better
prepared
to
thrive
in
an
increasingly
complex
/
competitive
global-economic
landscape.
Their
remarkable
saga
is
an
ideal
precedent
/
case
study
/
blue
print
for
officials
in
the
BRICS
nations
as
well
as
the
US
/
EU
/
Japan.
Given
that
the
EU
has
never
faced
a
financial
crisis
of
such
magnitude,
the
lack
of
precedent
is
disturbing
to
top
money
managers
and
economists.
If
Greece
were
to
leave
the
union,
other
members
with
similar
debt
issues
could
soon
capitulate
triggering
a
cascade
of
similar
debt
crises
resulting
in
a
fractured
EU,
with
regional
sovereign
currencies.
As
a
seasoned
traveler
in
high
demand
on
the
public
speaking
circuit
around
the
world,
our
guest
outlines
his
ideal
destinations,
including
his
home
in
Puerto
Rico
and
his
favorite
country,
Australia.
Harry
S.
Dent
Jr.
is
anticipating
a
US
stock
market
correction
of
15-20%
in
the
summer
/
fall
months.
He's
convinced
that
all
market
bubbles
must
return
to
their
inception
point.
The
US
housing
bubble
has
not
yet
returned
to
the
year
2000
levels,
increasing
sector
risk.
The
host
proposes
that
the
massive
shadow
inventory
held
on
bank
balance
sheets
will
eventually
enter
the
marketplace
in
tandem
with
the
millions
in
hedge
fund
housing-inventory,
opening
a
price
sinkhole
across
the
nation
and
a
credit
crisis
part
deux.
The
host
notes
the
alarming
void
of
understanding
regarding
fiat
money
schemes
and
their
onerous
track
records.
The
only
viable
alternatives,
gold
and
silver,
will
eventually
reflect
their
true
intrinsic
value,
potentially
hundreds
of
fold
higher
than
current
prices.
Economist
and
best-selling
author
Harry
S.
Dent
Jr.,
Returns
with
comments
on
the
latest
Grexit
drama,
noting
the
situation
is
more
significant
than
implied
by
mainline
media
reports
-
a
default
is
imminent.
Still,
in
the
long-term
horizon,
a
bankruptcy
will
benefit
the
nation
as
forced
fiscal-responsibility
curtails
government-profligacy.
He
notes
that
the
world
is
awash
in
bad
debt
and
officials
refuse
to
write-off
the
toxic
loans.
Yet
due
to
a
disconnect
between
lenders
and
the
system,
the
losses
are
averted,
indefinably.
The
only
country
to
effectively
ameliorate
the
debt
problem
is
Iceland,
which
defaulted
on
foreign
debt
shielding
constituents
from
predatory
lending
practices.
Having
taken
the
prescribed
panacea,
after
two
years
of
major
adjustments,
the
Icelandic
economy
has
emerged
from
the
malaise
intact
and
better
prepared
to
thrive
in
an
increasingly
complex
/
competitive
global
economic
landscape.
Their
remarkable
saga
is
an
ideal
case
study
/
blue
print
for
officials
in
the
BRICS
nations
as
well
as
the
US
/
EU
/
Japan.
Given
that
the
EU
has
never
faced
a
financial
crisis
of
such
magnitude,
the
lack
of
precedent
is
disturbing
to
top
money
managers
and
economists.
If
Greece
were
to
leave
the
union,
other
members
with
similar
debt
issues
could
soon
capitulate,
triggering
a
cascade
of
similar
debt
crises
resulting
in
a
fractured
EU
with
regional
sovereign
currencies.
As
a
seasoned
traveler
in
high
demand
on
the
public
speaking
circuit
around
the
world,
our
guest
outlines
his
ideal
destinations,
including
his
home
in
Puerto
Rico
and
his
favorite
country
Australia.
In
addition,
Scandinavian
countries
such
as
Sweden
and
Norway
have
extraordinary
maternity
benefits
to
the
benefit
of
their
workforce
and
demographics.
Harry
S.
Dent
Jr.
Is
anticipating
a
US
stock
market
correction
of
15-20%
in
the
summer
/
fall
months.
He's
convinced
that
all
market
bubbles
must
return
to
their
inception
point.
While
similar
to
the
internet
stock
bubble
of
the
late
1990's,
the
US
housing
bubble
has
not
yet
completely
deflated
back
to
year
2000
levels,
making
the
sector
risky.
The
echo
housing
recovery
is
predicated
on
collaterlized
MBS
debt,
similar
to
the
gimmicks
that
lead
up
to
the
original
housing
crisis
of
2008.
The
host
proposes
that
the
massive
shadow
inventory
held
on
bank
balance
sheets
will
eventually
enter
the
market
in
tandem
with
the
millions
in
hedge
fund
housing
inventory,
opening
a
massive
price
sinkhole
across
the
nation
and
a
credit
crisis
part
deux.
The
host
notes
the
alarming
void
of
understanding
regarding
fiat
money
schemes
and
their
onerous
track
records.
Despite
protestations
of
naysayers,
when
faith
is
lost
in
paper
money,
currencies
will
be
anathema
to
wealth
preservation
oriented
investors
-
the
only
viable
alternatives
gold
and
silver
will
eventually
reflect
their
true
intrinsic
value,
potentially
hundreds
of
fold
higher
than
current
prices.
Bill
Murphy
from
GATA.org
and
the
host
discuss
the
summer
doldrums,
noting
how
financial
troubles
in
the
EU
have
turned
capital
flows
to
the
perceived
safety
of
US
equities
/
dollar.
However,
the
tactic
could
backfire
as
the
temporary
safe
haven
has
enormous
debt
burdens
as
well.
For
instance,
the
Governor
of
Puerto
Rico
announced
this
week
that
$70
billion
in
debt
is
unpayable,
much
smaller
than
the
$400
billion
owed
by
Greece.
The
US
is
the
grand
champion
of
debt
with
unfunded
liabilities
are
$210
trillion,
five
times
the
EU's
unfunded
burden
of
$40
trillion
(Dr.
Kotlikoff,
2015).
When
unfunded
liabilities
are
excluded
and
only
debt
on
the
books
is
examined,
the
US,
UK
and
many
competing
nations
share
similar
debt
levels
as
Greece
(Figure
1.1.).
Media
reports
suggest
that
China
has
accumulated
over
10,000
tons
of
gold
in
preparation
to
back
the
Yuan
with
the
metal,
making
it
the
new
de
facto
global
reserve
currency.
Bill
Murphy
notes
that
the
when
the
PMs
bear
market
ends,
prices
will
explode
higher.
The
host
forecasts
that
after
2
small
hikes
in
the
benchmark
rate
in
September
and
again
in
December,
the
Fed
will
pause,
presenting
an
excellent
opportunity
to
increase
dollar
cost
averaging
efforts.
The
gold
repatriation
theme
is
gaining
momentum
as
even
US
states
demand
billions
of
their
gold
reserves
are
returned.
Are
officials
positioning
their
chess
pieces
in
anticipation
of
a
new
global
reserve
currency?
Bill
Murphy
from
GATA.org
and
the
host
discuss
the
summer
doldrums,
noting
how
financial
troubles
in
the
EU
have
turned
capital
flows
to
the
perceived
safety
of
US
equities
/
dollar.
However,
the
tactic
could
backfire
as
the
temporary
safe
haven
has
enormous
debt
burdens
as
well.
For
instance,
the
Governor
of
Puerto
Rico
announced
this
week
that
$70
billion
in
debt
is
unpayable,
much
smaller
than
the
$400
billion
owed
by
Greece.
Nevertheless,
the
US
is
the
grand
champion
of
debt
with
unfunded
liabilities
are
$210
trillion
five
times
the
EU's
unfunded
burden
of
$40
trillion
(Dr.
Kotlikoff,
2015).
When
unfunded
liabilities
are
excluded
and
only
debt
on
the
books
is
examined,
the
US,
UK
and
many
competing
nations
share
similar
debt
levels
as
Greece
(Figure
1.1.).
In
addition,
the
duo
discuss
media
reports
that
officials
in
China
have
accumulated
over
10,000
tons
of
gold
in
preparation
to
back
the
Yuan
with
the
metal,
making
it
the
new
de
facto
global
reserve
currency.
Bill
Murphy
notes
that
the
when
the
PMs
bear
market
ends,
prices
will
explode
higher
-
the
host
forecasts
that
after
2
small
hikes
in
the
benchmark
rate
in
September
and
again
in
December,
the
Fed
will
pause,
presenting
an
excellent
opportunity
to
increase
dollar
cost
averaging
efforts.
Moreover,
the
gold
repatriation
theme
is
gaining
momentum
as
countries
and
even
US
states
demand
billions
of
their
gold
reserves
returned
from
national
/
foreign
coffers.
But
could
there
be
more
to
the
story
than
meets
the
eye?
Might
officials
be
positioning
their
chess
pieces
in
anticipation
of
a
new
global
reserve
currency?
For
example,
could
EU
nations
such
as
Austria,
Netherlands,
Switzerland,
et
al.,
be
preparing
for
an
inevitable
euro
currency
failure
and
a
return
to
former
sovereign
currency?
In
similar
fashion,
might
Texan
officials
among
others,
be
anticipating
a
US
Dollar
implosion
and
perhaps
conflict
among
the
provinces?
At
the
very
least,
national
dialogue
on
the
topic
is
advisable.
Bob
Hoye,
senior
investment
strategist
at
Institutional
Advisors,
and
the
host
unravel
the
latest
Greek
drama.
After
months
of
warning
of
a
Cypriot-like
moment
in
Greece,
on
Monday
morning
depositors
were
locked
out
of
Greek
banks.
Only
ATMs
were
functional,
most
of
which
have
low
withdrawal
limits
imposed.
ATMs
were
emptied
quickly,
as
seen
in
the
following
video.
The
US
may
face
a
Grexit
via
a
Puert-xit,
as
the
Puerto
Rico
province
battles
creditors
over
billions
of
unpayable
debts
(Figure
1.2).
Several
states
/
municipalities
are
approaching
Detroit-style
bankruptcies.
It's
advisable
for
every
household
to
prepare
for
something
similar
by
increasing
PMs
exposure
as
well
as
stockpiling
dried
/
canned
goods
/
cash,
etc.
The
trouble
seems
to
stem
in
part
from
a
misunderstanding
regarding
debt.
Debt
is
a
valuable
leverage
instrument
when
times
are
solid,
yet
when
future
prospects
sour,
the
leverage
enhancing
tool
can
become
an
unbeatable
burden.
A
gold
market
trend
confirmation
method
involves
the
gold/CRB
ratio
($Gold:$CRB)
ratio.
When
the
ratio
is
above
the
trend
line,
a
bull
market
is
present,
as
gold
outperforms
the
commodities-sector
proxy.
Fed
governors
John
Williams
and
Jerome
Powell,
expressed
their
hawkish
rate
epistemologies.
Instead
of
"one
and
done",
"two
and
done,
maybe"
seems
likely,
suggestive
that
the
benchmark
rate
will
be
hiked
for
the
first
time
since
2008
in
September
and
the
second
increase
in
December.
Analysts
at
leading
investment
bank
Goldman
Sachs
reconfirmed
earlier
comments
that
the
US
dollar
and
euro
would
trade
at
parity
before
2016,
hinting
at
continued
greenback
strength.
Bob
Hoye
and
the
host
share
Peter
Spina's
sentiments
that
under
such
a
deflationary
environment,
gold
tends
to
hold
its
value
relative
to
virtually
every
other
asset
price.
Bob
Hoye,
senior
investment
strategist
at
Institutional
Advisors,
and
the
host
unravel
the
latest
Greek
drama
-
after
months
of
warning
of
a
Cypriot-like
moment
in
Greece,
on
Monday
morning
depositors
were
locked
out
of
Greek
banks,
only
ATMs
were
functional,
most
of
which
have
low
withdrawal
limits
imposed.
ATMs
were
emptied
quickly,
as
seen
in
the
following
video
(Figure
1.1.).
The
news
is
not
only
devastating
to
savers,
but
to
the
EU,
which
appears
to
be
unraveling
in
slow
motion.
Figure
1.1.
Greek
Banks
Closed
-
At
Least
1
Week
Note:
Video
courtesy
of
www.YouTube.com
All
rights
reserved,
copyright
2015.
Unfortunately,
the
US
may
face
a
Grexit
or
Puert-xit,
as
the
Puerto
Rico
province
battles
creditors
over
billions
of
unpayable
debts
(Figure
1.2).
In
addition,
several
states
/
municipalities
are
approaching
Detroit-style
bankruptcies.
Given
our
guests
anecdote
from
antiquity:
"Lithic
ex
sanguinary"
(creditors
squeeze
blood
from
rocks)
it's
advisable
for
every
household
to
prepare
for
something
similar
by
increasing
PMs
exposure
as
well
as
stockpiling
dried
/
canned
goods
/
cash,
etc.
The
trouble
seems
to
stem
in
part
from
a
misunderstanding
regarding
debt.
Debt
is
a
valuable
leverage
instrument
when
times
are
solid,
yet
when
future
prospects
sour,
the
leverage
enhancing
tool
can
become
an
unbearable
burden.
Figure
1.2.
Puert-xit:
Puerto
Rico
Debt
Issue
Note:
Video
courtesy
of
www.YouTube.com
All
rights
reserved,
copyright
2015.
Moreover,
an
interesting
gold
market
trend
confirmation
method
involves
the
gold/CRB
ratio
($Gold:$CRB)
ratio.
In
general,
when
the
ratio
is
above
the
trend
line,
a
bull
market
is
present,
as
gold
outperforms
the
commodities-sector
proxy
(Figure
1.3.).
In
the
wake
of
the
recent
FOMC
meeting,
two
key
Fed
governors
John
Williams
and
Jerome
Powell,
expressed
their
hawkish
rate
epistemologies.
Instead
of
"one
and
done",
"two
and
done,
maybe"
seems
likely,
suggestive
that
the
benchmark
rate
will
be
hiked
for
the
first
time
since
2008
in
September
and
the
second
increase
in
December.
The
comments
sent
the
US
dollar
higher
last
week,
which
promptly
closed
at
the
highest
point
in
three
weeks.
Analysts
at
leading
investment
bank
Goldman
Sachs
reconfirmed
earlier
comments
that
the
US
dollar
and
euro
would
trade
at
parity
before
2016,
hinting
at
continued
greenback
strength.
Bob
Hoye
and
the
host
share
Peter
Spina's
sentiments
that
under
such
a
deflationary
environment,
the
Deus
ex
machina
(divine
intervention)
gold
tends
to
hold
its
value
relative
to
virtually
every
other
asset
price.