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Top Ten Videos – June 5 2023

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Rafi Farber: The Inevitable Death of Fiat Currencies... (From June 1)

Inevitable Death of Fiat Currencies and Hyperinflation

  • “The only way to protect yourself from the inevitable death of fiat currencies is to own physical gold and silver.”
  • “It’s only a matter of time before it explodes and when it does we’ll all go back in time and say oh it was this and that and…people can write papers about it and then they’re going to fix that problem and there’s going to be another one that they didn’t think of.”
  • “The inevitable death of fiat currencies” – Rafi Farber predicts the downfall of traditional currencies due to excessive printing and inflation.
  • “The inevitable death of fiat currencies is coming, and it’s going to be a very painful process for a lot of people.”
  • The long-term effect of increasing money supply is the cancellation of any productivity gains in the supply of commodities, leading to the inevitable death of fiat currencies.
  • The end game for fiat currencies is hyperinflation, as monetary forces continue to trump non-monetary forces.
  • The hyperinflation in Israel in 1984 serves as a warning of the dangers of fiat currencies and the need for alternative forms of money.
  • The inevitable death of fiat currencies is an “inevitable process” that will lead to hyperinflation and economic restructuring.

Signs of Fiat Currency Instability and Vulnerability

  • The repo market crisis in September 2019 was a sign of the inevitable death of fiat currencies due to their inherent instability and vulnerability to manipulation.
  • The death of fiat currencies is inevitable due to debt defaults erasing money from the banking system.
  • The exponential growth of money supply is unsustainable and leads to the collapse of fiat currencies.
  • The cycle of printing more liquidity to pay back original liquidity is a predetermined path that will eventually lead to the implosion of the fiat currency system.

Predictions of Precious Metal Price Surge

  • “Gold and silver are probably going to Skyrocket and things are going to change overnight” – Rafi Farber predicts a surge in precious metal prices in the event of a default on fiat currencies.

Jordan Roy-Byrne: Best Historical Comparison for Gold... (From June 1)

Gold is on the verge of a breakout similar to the mid-1960s due to macroeconomic factors and expected returns, indicating the start of a new decade-long bull market.

  • Jordan compares gold to historical events and shares a chart from @newlowobserver on Twitter.
  • The Paris gold price chart indicates that gold would have peaked in 1951 or 1948 in a free market, with the 1964-1969 run being due to inflation breakout.
  • Federal Reserve raised interest rates in the late 60s to fight inflation, causing a drop in gold prices.
  • Gold is on the verge of breaking out, with similarities to the gold stock breakout in 1964.
  • Gold stocks were not an inflation hedge in the 1940s, but became one in the mid-1960s due to fixed gold prices and lack of alternative investment options.
  • Gold may see a breakout similar to 1964 due to macroeconomic factors and expected returns.
  • The 1960s saw a peak in the stock market, followed by significant corrections and the end of a secular bull market due to inflation and bond yield movements.
  • Gold is entering a new decade-long bull market, similar to the mid-1960s.

John Rubino: Worst Crash Of Our Lifetime Ahead? "Great Depression Meets Weimar Germany" ... (from May 31)

Warning of a Global Financial Crash

  • John Rubino warns that the worst crash of our lifetime could be a combination of the Great Depression and Weimar Germany.
  • The world is in a horrendous mess due to borrowing too much money and encouraging everyone else to leverage, leading to too much debt globally.
  • John Rubino warns that the global financial system is in very bad shape and headed for a crash, likening it to the Great Depression meeting Weimar Germany.
  • John Rubino warns that something much worse than the 2008-2009 recession is coming, and every indicator at the very bottom will look like the end of the world.
  • Unless the money supply starts to increase dramatically or the Fed starts flooding the system with money again, we could see a mini banking crisis on steroids with the effects felt by insurance companies, pension funds, and banks.
  • “Mathematically, [the current situation] is going to cause a big problem in the not too distant future.”
  • The next economic crash will be a “sea change” where governments lose the ability to bail everything out because their currencies are crashing.
  • A big crash and currency reset could happen if the government makes things worse with their responses to possible crises, leading to a combination of the Great Depression and Weimar Germany.

Investing Strategies for Economic Uncertainty

  • The pig through the python effect may actually be a hippopotamus, indicating the enormity of the stimulus and its potential long-term effects.
  • Converting cash into real assets like land, gold, and energy stocks could be a smart move to protect against a declining currency and potential inflation.
  • The demand for copper is set to skyrocket with the rise of electric cars, but the supply is limited, making it a potentially lucrative investment opportunity.
  • Positioning oneself in portfolios of uranium, gold, silver, and copper stocks can protect and potentially profit from the falling fiat currency world.

Potential Consequences of Government Stimulus and Response

  • The massive stimulus response from the pandemic has led to massive inflation, causing the dollar to buy anywhere from 10 to 30 percent less than in 2019.
  • “We’re going to have a Weimar Germany situation where the government is going to be forced to print money to keep the system from collapsing.”

Matthew Piepenburg: America's Slow Decline & The Rise Of The BRICS

Key insights:

The US economy is heading into a dark and painful recession due to factors such as inflation, rising debt levels, and centralization, but gold may serve as a reliable reserve asset to protect purchasing power.

Economic Decline and Recession

  •  
  • By expanding deficits and going deeper into debt, the US is keeping output costs and demand at an artificial high which actually increases prices, putting more tailwinds to the inflation.
  • The negative PMI index and inverted yield curve are neon flashing signs of a recession that always hits the middle class the hardest.
  • The US is headed towards a major crash and recession, which will hurt the middle class the most.
  • The arrogance of those in power to believe they can control inflation through interest rates ignores the ripple effects and collateral damage on small businesses, real estate, bond markets, and banks.
  • America’s slow decline is affecting not just the US markets, but also the middle class, retail, small businesses, and real estate.
  • China’s policy of allowing direct purchases of physical gold for their citizens shows they are protecting their middle class and seeing longer term with the US dollar, while US policies are kneecapping their own middle class.
  • The rise of the BRICS is a real threat to the West, and the US is a Banana Republic balance sheet with unfunded liabilities.

Shift in Global Economic Power and Currency System

  • The US dollar may face a decline in its role as a trade settlement currency, leading to a changing multi-polar economic and currency system.
  • The BRICS nations have higher GDP as a percentage of global GDP and purchasing power parity than the G7, highlighting a shift in global economic power.
  • The rise of new Reserve currencies is a serious threat to the US dollar’s world Reserve currency status.

Breaking: Peter Schiff is Now a Bitcoiner- Full Interview

Detailed Key Insights:

US Debt Crisis and Economy

  • The debt ceiling crisis was a contrived crisis for politicians who wanted to run up more debt, but the real crisis is the debt itself, which will burden American families through higher taxes or inflation.
  • The United States has one of the highest debt to GDP ratios in the world and most countries with a similar ratio are having a lot of trouble right now.
  • The US has a much bigger problem than Japan as it has both a budget deficit and a trade deficit, which means it has to borrow over a trillion dollars per year to maintain its standard of living.
  • Schiff accurately predicted the rise in interest rates from zero to over five percent, highlighting the potential consequences of high debt and current market conditions.
  • Peter Schiff believes that “we have so much inflation in the pipeline because of 12 Years of money printing” and that it will continue to rise in the future.
  • The US government is consuming almost a trillion dollars a year in interest on the national debt, making it impossible to finance with higher interest rates.
  • The risk of hyperinflation increases when the Fed has to print more money to buy treasuries that nobody else wants, leading to an already elevated inflation rate spiraling out of control.
  • Schiff argues that creditors of the United States will ultimately lose either through honest default or inflation, and that there are no other options.
  • Real estate market is a house of cards built on the foundation of low interest rates, which is no longer there, so whatever was built on top of it comes collapsing down.

Peter Schiff’s Views on Bitcoin

  • Peter Schiff, has now become a Bitcoiner, stating “I was wrong about Bitcoin” and “I didn’t realize that Bitcoin could actually be the digital gold.”
  • “I was wrong about Bitcoin” and that it is a legitimate store of value.
  • “I got tired of arguing against it and I decided to join it.”
  • Schiff admits that Bitcoin has drastically outperformed gold over the last two to three years, despite his previous skepticism towards the digital asset.

Criticisms of the Banking Industry

  • Schiff believes that the government guaranteeing bank deposits was a mistake and that banks should have to compete with one another based on safety in a free market.
  • He warns about the dangers of banks pretending to hold assets to maturity, which can lead to huge losses when rates go up and customers want their money back.
  • He believes that the banking industry is a “phony house of cards” that is dependent on government backstops, and that the current system is not true capitalism.

Bob Moriarty- Banks, Hedge Funds, & Insurance Will FAIL (From may 4)

Bob Moriarty, Marine, naval aviator, and financial author. He believes more banks, in addition to hedge funds and insurance companies, will fail due to these stains. We’re headed towards a crisis worse than the Great Depression, he says.

Get a free digital copy of Bob’s Amazon Bestseller,” Nobody Knows Anything” A gift to Dollar Collapse readers:

Key insights

  • Moriarty predicts a depression worse than 1929 for the US economy.
  • Most Americans are not prepared for what’s upon us.
  • Everything we’re being told by the media and politicians is a lie.
  • Banks, hedge funds, and insurance companies are at risk of failing due to soaring interest rates and hyperinflation.
  • Perfect storm for real estate, both commercial and residential.
  • “The stock market is going to crash and it’s going to be a lot worse than 2008.”
  • The IMF predicts that the FED will have to hold rates at 5.25-5.5% through the end of 2024, which is “absolutely catastrophic.”
  • Interest rate hikes will be catastrophic for banks, insurance companies, hedge funds, and real estate – “It’s going to be far worse in 2008, far worse than 2000, and it’s going to be comparable or worse than 1929.”
  • US getting desperate because know how to admit it has lost a war. And the US and NATO have lost the war in Ukraine.
  • Silver and Platinum are the cheapest precious metals right now. That’s what Bob is buying.
  • Gold can function as both money and an insurance policy, making it a valuable asset to invest in during times of uncertainty.

Coin Shop Owner Shows Easy Silver Testing Tricks - PROTECT YOURSELF

Key insights

  • Protect yourself against buying fake silver and gold by purchasing from reputable coin shops and sellers.
  • Mike demonstrates easy silver testing tricks that people can use to protect themselves from buying fake silver.
  • Coin shop owner emphasizes the importance of buying closer to spot for good value when purchasing silver.
  • Fake gold and silver bars are a real problem in the industry, with even experienced employees being fooled by them.
  • It’s important to protect yourself from fake silver by learning how to test it properly.
  • The sound of a coin can reveal if it’s counterfeit or real, according to a coin shop owner who uses this trick to protect himself from fake currency.
  • Fake silver coins and bars are becoming more sophisticated and can be difficult to detect even with packaging that looks authentic.
  • A rare earth magnet can be used to test if a piece of silver is real or fake, as it has a certain reaction to silver and copper.
  • The sound of silver can be a useful test for authenticity, as it has a lower pitch and fuller sound compared to copper.

Chen Lin: Commodity Market & Where We Are? (From May 30)

Key insights

  • 2023 is feeling like 2008 again!
  • Chen’s presentation has excellent charts to support his thesis.
  • The best investment during a recession is gold, which has historically been the best performing asset during economic downturns.
  • According to Chen Lin, gold and gold mining positions are a good investment during a recession, while U.S. Treasury may not be a safe haven due to high interest rates and inflation.
  • China’s shift towards exporting higher-end products like electric cars and solar panels will have a profound impact on the world economy.
  • Chen Lin believes we are in a second boom market for commodities due to the modernization of China and the increased demand for materials for electronics, cars, TVs, and solar panels.
  • The recent downturn in commodities, including gold and copper, was caused by China’s lower-than-expected PPI, which is a leading indicator of China’s inventory.
  • Copper inventory is shockingly low, which could lead to a spike in prices if demand picks up during a recession recovery.

Sprott Money: Monthly Wrap Up with Michael Oliver & Craig Hemke

Key insights

  • May has been an interesting month for Gold & Silver. We have seen a pullback, with a monthly high of $2,052, and a low of $1,940 in Gold.
  • Michael Oliver predicts “the greatest Market events in my lifetime” due to tectonic plates moving in opposite directions in various asset categories.
  • The stock market may be the biggest bubble in US history due to the Fed printing money and keeping rates at zero for a dozen years, leading to a massive increase in the S&P and NASDAQ 100.
  • Gold’s momentum has shifted back to positive, indicating a bullish trend despite a recent pullback.
  • Gold and monetary metals, along with their miners, are the places to be in the current market environment, as they have already begun to reassert themselves and are likely to continue to do so.
  • Michael Oliver predicts a stock market rollover and potential downturn in the near future.
  • Commodities have experienced a significant increase in price since late 2020, with some pulling back 50% to just under 100.
  • Michael Oliver predicts that silver will outperform gold in the long run and the crisis in the market will resolve in the next year or two.
  • Gold may see a triple top breakout at 2100, causing doubters to “shut up or join in” and leading to a dramatic surge in silver and miners.

George Gammon: They Say "It'll Never Happen"...Here's Why They're WRONG

Key Insights:

The government’s bailouts and interventions have created a moral hazard, leading to a decline in both Wall Street and Main Street, and we are currently in a fourth turning.

  • The moral decline of Main Street and Wall Street, connected by cycles and moral hazard, is leading to an imminent collapse.
  • The government’s actions have increased moral hazard in financial markets, leading to bailouts and a focus on asset prices over the real economy.
  • Shoplifting and theft are running rampant in the United States because bad decisions are being rewarded with no consequences.
  • They violated the Nuremberg code, but politicians who did so have gained more power and votes instead of facing consequences.
  • The moral decay in financial markets is illustrated by the plummeting and volatile stock prices of companies like Bed Bath and Beyond, which are now selling worthless stock to meme investors.
  • The financial economy is prioritized over the real economy, leading to lending only to mega corporations for share buybacks instead of creating goods and services for the average Joe.
  • George observes a decline in respect for rule of law and overall civility, as well as a massive increase in mental health issues, likely due to drug use, tribalism, narcissism, and anger.
  • Society has already collapsed if people cannot differentiate between right and wrong, and unfortunately, it’s going to get worse before it gets better.
  • George highlights the moral decay in financial markets, with a surge in February 2023 and the sale of worthless stock to meme investors.
  • Hudson Bay makes $90 million profit in two months by buying and selling Bed Bath and Beyond stock, while retail investors are encouraged to buy shares by YOLO traders and scammed by a hedge fund and management team.
  • Cheap money creates moral hazard and financialization of the economy, leaving entrepreneurs behind.
  • Corporations buying their own shares back have artificially inflated the stock market, while theft and shoplifting are at an all-time high despite historic low unemployment rates.
  • The US is seeing a decline in respect for rule of law, private property, and civility, as well as an increase in mental health issues, likely due to drug use, tribalism, narcissism, and anger.
  • High taxes, regulations, and lack of defense against common criminals lead to fewer goods and services, declining wealth, and a collapsed society.
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