Video

Is Gold a Bubble? Will it be Useful for TEOTWAWKI/SHTF?

29 May

Mark Dice recently interviewed at least a dozen people right next to a coin shop. No one has any idea what it is worth. If you think precious metals are in a bubble you are mistaken. Although Dice is a bit abrasive, the addition of the coin shop right next to him to the scenario is incredibly telling. Most people simply dismiss him, regardless of the benefit a little investigation might bring.

Additionally, this should probably indicate that storing gold or silver for a SHTF scenario may be a bad idea. It will likely be worth a lot and people still won’t care. When will this change? It will change when any economy tries to recover from the fiat money-printing fiasco.

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Video

Former Assistant Treasury Secretary on Capital Account

24 May

This is one of the few “insiders” who has come out to expose what is really going on in the Government/Financial complex of America. Lauren Lyster’s intelligent questions bring out a panoply of interesting responses from Fmr. Asst. Treasury Secretary Paul Craig Roberts. Those who watched the PBS documentary on the financial crisis will immediately understand the context of Roberts’ remarks.

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PBS Frontline Documentary on the Financial Crisis

18 May

This is a 4 hour series that does an excellent job of describing how credit derivatives are at the core of nearly every major financial problem of the 21st century thus far.

I can’t imagine a series that interviews more key players in the game. The access you get through this series is uncanny in terms of the inside perspective from bankers who created and manipulated these financial instruments for their banks.

This is must see for anyone who wants to understand where we are financially today.

Video

Fascinating Interview with Biographer of Blythe Masters (in English)

17 May

This interview presents the raw perspective of a journalist, Pierre Jovanovic, who spent several years researching the career of Blythe Masters. His comments are extremely insightful for everyone who wants to understand who she is and what she has done. Unfortunately, his book is only available in French. This interview is the only means I know of to access the core of what he addresses in his book.

For those of us who are familiar with Masters, much of what he has to say is merely confirmation of we know. What’s interesting is how seriously this man, who is more of a journalist than an economist, reacts to Masters’ effect on the global landscape.

I am deeply grateful for this opportunity to finally hear his thoughts. I encourage you to check out his website that says more about the book: http://jovanovic.com/angeQDM.htm. Thankfully, non-French speakers can use translation features in their browser (available at least in Chrome) to understand the page. Hopefully the book comes out in English too.

Video

Something to Think About

9 May

I write about gold and silver. I write about why our economy is where it is and where it might go. But when I think about what that will look like, I’m not happy about it.

There are people in the precious metals trade who feel the way I do. Guys like Chris Martenson, Peter Schiff, and others.

And then there are people that seem to be emotionally attached to gold and silver sky-rocketing one day. When it goes down they cry and talk about their pain and lament the powers that be “smacking it down”. I get that things shouldn’t be manipulated. But you should never feel that emotional about money.

Furthermore, think about this video, which shows what Zimbabwe is like: a place where paper money is worthless and gold is everything. It’s pretty awful.

Just think about that, next time you start hoping for silver or gold to double or triple. Be real. Focus on what matters.

Video

Ron Paul Demolishes CNBC for an Hour

30 Apr

This show is unbelievable. At least 6 different people offer the most complex questions they can throw at the aging-yet-energetic congressman, Ron Paul. Calling his views “extreme”, bringing on multiple economists, and implying that he has no chance of victory are just a few of the games they played with him. But Congressman Paul rose far above the fray.

No one can watch this video and deny his competence and commend him for such excellent answers. Furthermore, Paul is extremely patient, dignified, and nuanced in all his assessments and responses. This appearance is flawless as it gets.

And yet, one gets the sense that, in spite of his ability to comprehensively speak to all types of issues, these people will simply continue obfuscate and misrepresent such ideas in the future.

But man, what an incredible performance from Ron Paul. Go Ron!

Video

Brazil’s President Nails It

21 Apr

Start the link at 17:35 to get the good stuff.

President Dilma Rousseff of Brazil recently came to Washington to meet with President Obama to discuss a variety of issues, most of which dealt in the economic realm. While they met with the press, President Rouseff unleashed a scathing attack on the expansionist monetary policies of the U.S.

Her most poignant criticism focused on the way in which the U.S. spending programs drive U.S. monetary expansion (i.e. inflation) that gives the U.S. an unfair trade advantage especially against developing nations, including Brazil.

Note this moment: 18:20. Her translator mistakenly said “[The US expansionist monetary policies] lead to a depreciation of emerging currencies.” At this point she corrects him and he says, “Rather…a depreciation of  developed currencies.” What that means is simple: when we print more dollars, our dollars are worth less. Thus, our exports are cheaper for other countries to buy. Thus, our products sell and other countries who cannot depreciate their currency as much as we can, simply are stuck with having equal goods which artificially become more expensive to purchase.

Few politicians know economics as well as she.

This is exactly the point we’ve been talking about for the two months we’ve run this site. Because America owns a major (some might say THE major) world currency, we can print out our own money to buy from other countries. Think of all the massive programs like SNAP where America hands out free money to the masses to buy essential goods at places like grocery stores. Those are the fiscal policies that enable so much monetary expansion. Inflation not only kills the middle and working classes, it viciously attacks smaller countries by causing massive trade disadvantages.

President Rousseff is a courageous woman who clearly has done her homework. She is absolutely right to criticize Obama in this way. It is no disrespect to speak the truth like she is doing.