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Top Ten Videos – June 24, 2024

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Brent Johnson: Did the Saudis Just Kill the Dollar? (June 21, 2024)

ITM Trading...

Summary

 

A transition away from the current global financial system, particularly one that relies on the US dollar, would be extremely volatile and potentially lead to conflict and war.

 

  • If Saudi stops selling oil in dollars, it would cause a dollar shortage and likely increase the dollar’s value.
  • A transition from a system that runs on dollars to a system that does not would be extremely volatile and most likely very violent.
  • “So in order to move from the current system to the next system. They first have to reconcile all the US dollar debt that they already own now.”
  • The United States would not support a new global currency and would use their military or economic power to put an end to the system, causing extreme volatility.
  • The world is pushing back against the rules-based order that no longer serves their needs.
  • Transitions like that are not peaceful, they are extremely volatile and historically speaking, they are talking War.
  • Europe is in a lot of trouble and it’s really hard for me to overstate that, with capital letters.
  • Central banks hoard gold as a form of insurance against the devaluation of fiat currency and as a neutral asset not subject to the whims of the global hegemon.

Peter St. Onge: California’s Minimum Wage Boomerang (June 18, 2024)

Peter St. Onge...

Summary

 

The minimum wage law in California is leading to potential mass layoffs and job automation, disproportionately affecting lower income neighborhoods and young workers.

 

  • Fast food companies warned of mass layoffs due to the minimum wage law, which have already crossed millions of Californians.
  • The impact of job automation on over 10,000 delivery drivers at Pizza Hut is a stark example of the changing labor landscape in California.
  • The minimum wage increase disproportionately affects lower income neighborhoods, leading to potential job cuts or closures of businesses.
  • “If I cost more, why would a company take a risk on hiring me?” – The impact of increased minimum wage on young workers.
  • Minimum wage hikes could cost 1.4 million jobs, making it a ban on low skill work.
 

Andy Schectman & Craig Hemke: Gold & Silver's Tipping Point: The Road to True Price Discovery (June 18, 2024)

VRIC Media...

Summary

 

Central banks are buying gold, countries are moving away from the US dollar, and the decrease in demand for dollars will lead to higher inflation and a higher value for precious metals. 


Economic Crisis and the Role of Precious Metals

 
  • The reclassification of gold as the world’s only other tier one Reserve asset by the bis and the central banks’ unprecedented buying spree suggest big plans for gold in the future.
  • The gradual decrease in demand for dollars and increase in supply will lead to a decrease in the value of the dollar, resulting in inflation and a higher value for hard assets like Precious Metals.
  • “We are at the end of the great keian experiment kees being the Godfather of this debt based system.”
  • The change is coming whether it’s orderly or not, and the debt is unsustainable.
  • The US is accumulating a trillion dollars in debt every 100 days, leading to a potential financial crisis.
  • Gold has outperformed the treasury for the last 25 years and can’t be sanctioned or confiscated, making it a valuable asset.
  • “If you’re not a contrarian, you’re going to be a victim. If you’re fully invested in dollars, you’re destined to go broke.” – Rick Rule
  • The day will come when we lose the pricing power for precious metals and it shifts back to a more physical market, leading to exponential level gains.
     

Global Financial Infrastructure and Digital Currency

 
  • China’s use of digital Yuan for cross-border trading of oil and gold outside the Swift system highlights the potential for a new global financial infrastructure.
  • The reclassification of gold as the only other tier one asset by the BIS and central banks’ repatriation of it indicate its significance in the global financial system.

Lyn Alden: Will Bitcoin End Central Banking? (June 19, 2024)

What Bitcoin Did...

Summary

 

Central banks are not necessary and can lead to distortion effects, politicization, and widening wealth gaps, and that alternative solutions like Bitcoin may be more interesting and beneficial.

 

Central Banking and Monetary Policy

 
  • The growing legitimacy behind the idea of not having a central bank is not just a radical fringe idea, but a sentiment that more and more people are expressing.
  • Fractional Reserve banking is inherently unstable, prone to cascade of bank failures, requiring a lender of last resort to provide liquidity.
  • Central banks set the price of money, which influences everything else in the economy, leading to frustration and distortion effects.
  • Central bank policies can distort private sector lending, leading to potential problems with interest rates and bank lending behavior.
  • Incentives always point toward helping the government, leading to potential politicization of central banking.
  • Central banks only make sense in the context of fraction reserve banking, and are dangerous when built on top of scarce and fast money.
  • “I generally argue that central banks aren’t necessary at all.”
  • Building an alternative to the Fed and seeing it out compete the FED with Bitcoin is more interesting than movements like ending the Fed.
     

Economic Impact and Social Consequences

 
  • The levels of debt that exist seem astronomical, and something feels like it’s going to break in ways none of us have experienced in our lifetimes.
  • The period of high inflation is going to have few winners and a lot of losers, squeezing the middle and lower class.
  • The impact of inflation is widening the wealth gap, especially affecting the middle and lower classes.
  • The stimulus checks drove inflation, but the debt created per household was tens of thousands of dollars, much more than most families received.
  • Controlling money can affect entire countries and lead to extreme poverty due to decisions made by those in power.

Chen Lin: We are losing 1 Million Oz of Silver a Day! (June 23, 2024)

Mining Book...

Summary

 

The increased demand for solar panels is causing a potential shortage of silver, making it a good investment with potential for growth in the silver market.

 

  • 1 million ounces of silver are disappearing every day, according to the new report from Germany.
  • The speaker chose to invest in bigger companies with decent cash flow and hold a lot of cash, while also shorting financials for protection.
  • China’s negative interest rate and cash for clunker program are driving demand for gold and silver as a way to diversify.
  • The saving culture in China is leading people to invest in gold and silver as a hedge against negative interest rates and deflation.
  • Removing free silver from the market could drive the price back up to at least $50, with the potential to reach $100 and restore silver as a monetary metal.
  • The energy transition is causing a critical shortage of silver, with 1 million oz being lost every day.
  • The deficit in silver this year could reach 400 million, heading to 500 million next year, which is almost a guarantee.
  • The supply of silver is expected to decrease significantly in the coming years, creating potential shortages.
 

Fred Hickey: Is A Meltdown In Tech Stocks Nearing As Doubts Of A.I.'s Impact Mount? (June 18, 2024)

Thoughtful Money...

Summary

 

The tech sector is at risk of a potential meltdown due to record levels of investment in a few tech names, and investors should consider hedging against potential downturns in tech stocks.

 

Potential Tech Stock Meltdown

 
  • Record levels of investment in the same few tech names could lead to a potential meltdown in the tech sector.
  • “Are we risking a major Market breakdown putting all of our hopes in only a handful of companies that can’t keep growing at the meteoric rates that wall Street’s expecting?”
  • “It’s the greatest bubble I’ve ever seen…Nvidia went up $1 trillion in one month, Apple’s gone up 700 billion dollars in six weeks.”
  • The massive investments in AI by tech giants like Microsoft, Google, and others could lead to a potential meltdown in tech stocks as doubts about AI’s impact mount.
  • The tech stock meltdown could have a domino effect on the US economy, leading to budget deficits and increased debts.
  • “This space is incredibly overvalued. This is not going to end well.”
  • “The danger of a recession really becomes really real.”
  • The likely outcome of the tech stock meltdown is negative, which is a pretty safe assumption at this point.
  • The potential collapse of tech stocks, particularly Nvidia, could be as high as 80-90% if left to its own devices.
  • “The Dominoes go down. If left alone could go 80-90%.”
  • “I learned decades ago that I didn’t want to short because I saw how crazy things can get as they are today. You never know how high is high.”
     

Investment Strategies and Alternatives

 
  • Hickey’s strategy is to buy long-term leap puts against overvalued tech stocks, aiming to make money if they fall significantly.
  • Fred Hickey suggests that investors should consider allocating capital to gold and gold miners as a hedge against potential downturns in tech stocks.
 

Radio Rothbard: Farage, Le Pen, and the Rise of the European Right (June 20, 2024)

Radio Rothbard...

Summary

 

The rise of the European right is fueled by frustration with the political status quo, economic stagnation, and a desire for greater local sovereignty and self-determination.

 

  • The media’s framing of “far right” parties doing well in Europe reflects a shift in support for these parties.
  • There are concerns about local sovereignty and the ability for citizens to determine laws and policies within their own country.
  • Younger voters in Europe are feeling the stress of economic stagnation, greater barriers of entry, and the consequences of debt and spending policies, leading to generational angst and a shift to the right.
  • The rise of the European right is fueled by the frustration of young people with high cost of living and unaffordable housing.
  • The rise of the European right is fueled by anger at the political status quo and the inflation playing a major role in cultural change.
  • Nigel Farage’s sudden entry into the race is a game-changer, with potential political implications.
  • Farage’s rapid rise to power and the success of his political party is challenging the underlying logic of establishment politics in the UK.
  • The EU demonstrates hostility to any serious notion of political self-determination within the current European project.
 

Chris Martensen: The End of Empire Rapidly Approaches (June 20, 2024)

Peak Prosperity...

Summary

 

The exponential growth of interest payments and consumption is leading to significant economic and environmental impacts, and individuals need to understand the urgency and take action.

 

  • Federal interest payments are an exponential train wreck, and the Federal Reserve will have to choose between defending the bond market or the dollar, impacting future prosperity.
  • The people on earth have consumed over 75% of what we did over the entire 20th century in just six years.
  • The power of compounding can change everything about how you see the world once you internalize it.
  • Dr. Bartlett said the greatest shortcoming of the human race is the inability to understand the exponential function, and he’s absolutely right with this understanding you’ll begin to understand the urgency.
  • The loss of species is happening exponentially, but humans struggle to comprehend exponential growth and its implications.
  • The exponential growth of interest payments is out of control and will have significant impacts on the economy.
  • The FED is caught in an exponential trap and has only two choices: defend the bond market and kill the dollar, or save the dollar and kill the bond market, both with negative outcomes for the listener.
  • The end of empire is rapidly approaching, and the question is what are you going to do about it?

Alasdair Macleod: How ESG could break markets and push silver prices up! (June 21, 2024)

Kinesis Money...

Summary

 

The current economic and geopolitical landscape, including the rise of Russia and China as alternatives to Western colonialism, the potential impact of ESG on markets, and the looming end of the fiat currency era, is leading to a significant increase in demand for gold and silver, and could potentially lead to a collapse of the current financial system.

 

  • The fear of the Americans is being broken by the fact that Russia in conjunction with China are a viable home for nations sick of the colonialism of the West.
  • The launch of ESG could break markets and push silver prices up before the November election in America.
  • Alasdair Macleod predicts that inflation will rise and the economy will tank, leading to stagflation and potential price controls.
  • The demand for gold is likely to continue and accelerate, with China’s household savings of 35% of GDP potentially driving further demand for gold.
  • “The ending of the fiat currency era is hoving into view.”
  • “I think we looking at the end of the road for for the FED currency system. Um I can’t really come to any other conclusion and there is nothing the FED can do about it.”
  • “In the very very short term there is no doubt that this ESG rubbish is creating enormous demand for silver. There is no Supply there and on those grounds alone it’s going to drive silver a lot lot higher.”
  • The massive amount of derivatives in the hands of the top four banks creates a synthetic price, raising concerns about market stability.

Bob Moriarty: Why Does the USA Steal Other Nation's Gold? (June 19, 2024)

SilverWars...

Summary

 

The potential for Russian control over the gold mine in Ukraine and the current tensions in the region could lead to the outbreak of World War III.

 

  • Russian control over the gold mine in Ukraine would enrich Moscow and enable it to share the extracted minerals with China.
  • The war in Ukraine has the potential to destroy Europe, and the European population is growing tired of the immigration, inflation, and bureaucracy.
  • The United States and NATO are on a very fine trip wire right now and some second Lieutenant could easily start World War III by making one mistake.
  • The likelihood of World War III is seen as 99%, with no way of avoiding it, according to the speaker.

 

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