Top Ten Videos – October 28 2024
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John Rubino: Gold New All-Time High, Silver Decade High
(Oct 22, 2024)
Liberty and Finance...
Summary
Gold and silver prices are rising significantly due to global tensions, economic uncertainty, and a potential shift towards a gold-backed currency by BRICS nations, while challenges such as rising interest rates and housing market stagnation pose risks to their bullish outlook.
Economic Outlook and Precious Metals
Central banks’ easing, including a potential 50-basis-point cut by the US, is driving investors towards precious metals as safe havens and inflation hedges during global monetary uncertainty.
BRICS countries are accumulating gold and considering a gold-backed currency to bypass the dollar, potentially disrupting global trade and impacting China’s exports and Russia’s oil and gas sales.
Market Dynamics
The 10-year US Treasury rate above 4% could short-circuit the easing cycle, making mortgages and car loans more expensive and slowing economic growth.
A frozen housing market with high supply and unaffordable prices, combined with wage inflation from union strikes (e.g., 62% wage increase for dock workers), may lead to a 1930s-style deflationary crash.
Precious Metals Outlook
A silver deficit and shortage due to insufficient supply could deplete above-ground stocks in 2 years, potentially leading to panic buying and a parabolic price move surpassing previous highs of $50/oz.
Gold and silver serve as insurance against financial chaos and dollar devaluation, with central banks, sovereign wealth funds, and physical ETFs driving demand, while solar energy, military budgets, and AI infrastructure boost silver consumption.
Dr. Judy Shelton: Why Shouldn't the Dollar be as Good as Gold?
(October 23, 2024)
Palisades Gold Radio...
Summary
Restoring a gold-backed monetary system and adhering to sound money principles could enhance economic stability, improve purchasing power, and address wealth inequality, contrasting sharply with the current inflationary policies of the Federal Reserve.
Sound Money and Economic Stability
Sound money is a moral obligation of governments to ensure economic stability through an unchanging currency value, as described in the US Constitution, Article 1, Section 8, providing an unvarying standard for planning and decision-making.
The Federal Reserve’s 2% inflation target weakens the dollar’s purchasing power, leading to inequality and unfairly benefiting the wealthy at the expense of the poor and middle class.
Federal Reserve Policies and Their Impact
The FED’s zero interest rate policy can cancel out productive projects by discouraging investment in the real economy, as riskless projects become unattractive at zero rates.
The FED’s practice of ratcheting interest rates up and down is not beneficial for the economy and introduces distortions in financial assets that plague the economy for years after rates are raised again.
Alternative Monetary Systems
Dr. Judy Shelton proposes a new international monetary system anchored by a gold convertible long-term US Treasury bond to promote stability and accountability in global transactions.
The Federal Reserve’s primary mechanism for managing interest rates is paying interest on reserves, which can be raised quickly to curb lending and inflation, as demonstrated by Bank of England governor Mark Carney in 2013.
Economic Growth and Sound Money
Dr. Shelton believes that economic growth under President Trump’s agenda and Elon Musk’s involvement could lead to controlling the budget and promoting sound money.
Dr. Shelton recommends a 50-year bond to address the existential threat of unbalanced budgets, as countries can go bankrupt even with mass weapons and powerful resources.
Tom Luongo: BRICS vs. the Dollar: What Gold Buyers Need to Know
(October 27, 2024)
CapitalCOSM...
Summary
Tom Luongo discusses the BRICS vs. the Dollar and the impact on gold and silver prices.
Bob Moriarty: The Next Two Weeks Could Be the Most Dangerous Time in History
(Oct. 23, 2024)
VRIC Media...
Summary
The next two weeks are poised to be critical and potentially perilous due to escalating global conflicts, geopolitical tensions, and the risk of significant political and financial upheaval.
Geopolitical Tensions and False Flag Operations
Israel’s alleged false flag drone attack on Netanyahu’s home, launched from an IDF position, is being used as justification for war against Iran, potentially leading to a nuclear conflict.
The next two weeks could be the most dangerous time in history due to conflicting agendas and potential wars in Ukraine, Iran, Israel, and North Korea, with the added complexity of the upcoming 2024 US presidential election.
Military Conflicts and Strategic Missteps
Ukraine’s Zelensky has already lost the war, according to Bob Moriarty, as Ukraine cannot defeat Russia, a much larger country, and Zelensky wants the US to fight the war for him.
NATO’s focus on Ukraine is deemed “dumb” as there is nothing to be gained by defeating Russia, with the US fighting the “dumbest war” in recorded history.
Economic and Global Power Shifts
The BRICS nations are forming a financial system to counter US power, controlling 50% of the world’s population, 40% of the economy, and 30% of oil, challenging US dominance.
The US has exported all its manufacturing to China for temporary profits, committing “suicide without benefits”, while inadvertently strengthening its perceived enemy.
Historical Context and Future Implications
The US has been attacking Russia in various forms since 1945, with the current situation being a result of this long-term policy, according to Bob Moriarty.
The 2024 US election could potentially lead to civil war, with the outcome depending on powerful voices within Trump’s own party calling for his resignation.
Michael Yon & Doug Casey: FEMA = Scam, Legalizing Drugs, Israel's Future, Interest Rates Will Rise
(Oct. 23, 2024)
Doug Casey's Take...
Summary
FEMA is criticized for its inefficiency and prioritization of financial aid over direct disaster relief, amidst broader societal issues such as drug legalization, rising anti-Semitism, and escalating global conflicts.
FEMA Criticism
FEMA, established in 1979, is criticized as a wasteful agency with a $32.2 billion budget for 2024, failing to provide effective emergency relief despite employing 6-8,000 people.
FEMA is allegedly constructing tornado shelters resembling military forward operating bases with armed guards, and repurposing Walmart stores to house migrant children.
Drug Legalization and Its Impacts
Thailand has 94 licensed pot stores in Phuket alone, while the US has 12,500 operating pot stores, raising concerns about drug legalization’s psychological and social consequences.
The Thai king replaced poppy cultivation with coffee through royal projects, contrasting with Afghanistan where farmers prefer opium due to its resilience and quick harvest.
Geopolitical Instability
Central American countries like El Salvador face instability due to gangs and crime, while the US reportedly has 400,000 missing children, primarily from the southern border.
The Ukraine war is predicted to escalate and persist longer than anticipated, with potential implications for global stability and resource allocation.
Economic Concerns
Harvard University, with a $50 billion endowment, is described as a “hedge fund with an attached university“, allegedly promoting woke ideologies and facing potential decline in enrollment and support.
Long-term interest rates are expected to rise significantly due to inflation and escalating U.S. debt, potentially leading to economic challenges.
Carl Jung: Why is Modern Man so Weak and Powerless?
(Oct. 17, 2024)
Academy of Ideas...
Summary
The growing power imbalance between the ruling class and citizens is creating a new form of slavery, characterized by psychological inflation and deflation, which undermines personal power and fosters dependence on authority.
Psychological Dynamics of Power
Carl Jung’s concept of “God-almightiness” explains how psychological inflation in the ruling class leads to a belief in their own omnipotence and moral superiority, while psychological deflation in the masses results in projection of strengths onto powerful institutions, paving the way for totalitarianism.
A feedback loop is created where the ruling class’s projections of repressed “Will To Power” onto strong leaders and institutions provide easy hooks for the masses’ repressed power, further empowering the elite and disempowering citizens.
Societal Implications
The ruling class’s psychological inflation is fueled by identification with titles like CEO or president, while the masses’ deflation stems from restricted social roles, leading to atrophy of individual personality.
According to historian Orlando Patterson, the ruling class’s inflation causes repression of their weaknesses and moral inferiorities, which are then projected onto the masses, justifying exploitative dominance as being for the “greater good”.
Countering Psychological Deflation
To counter psychological deflation, individuals can cultivate personal power through learning, skill mastery, goal-setting, and emulating powerful role models, while disarming the ruling class’s perceived invincibility through humor and ridicule.
Pepe Escobar Shares Update on BRICS De-Dollarization Progress
(Oct. 23, 2024)
Arcadia Economics...
Summary
Pepe Escobar discusses BRICS’ advancements in creating alternative payment systems and currencies to reduce reliance on the US dollar, particularly highlighting Russia’s progress during its chairmanship.
De-dollarization Progress
Russia has made tremendous progress in creating alternative payment systems during its BRICS chairmanship, hosting over 200 successful meetings and advancing towards new currencies that will enable moving away from the dollar.
The 2023 BRICS Summit is primarily focused on the group’s efforts to continue de-dollarizing their economies, with discussions on alternative payment systems and new currencies scheduled over the next three days.
Future Developments
While journalist Pepe Escobar doesn’t expect a formal announcement of a BRICS alternative currency at the 2023 summit, the BRICS Pay website lists the unit as “under discussion”.
The BRICS Business Council, with Russia’s organizational support, has been instrumental in facilitating over 200 events and meetings of representatives, laying groundwork for future economic cooperation.
Mario Innecco: ''The Game is Up' Manipulators Losing Control of Gold & Silver
(October 23, 2024)
Commodity Culture...
Summary
Major financial institutions are manipulating gold and silver markets to maintain fiat currency dominance, but rising demand and shifts towards a gold-backed currency, particularly among BRICS nations, indicate a potential transformation in the global monetary system.
Global Financial Dynamics
The BRICS Summit in October 2023, attended by over 40 guest countries, aims to establish a monetary and trade mechanism where nations trade in their own fiat currencies while holding 40% gold reserves.
China, Russia, and India are accumulating physical gold and creating their own physical markets, like the Shanghai Gold Exchange, challenging the US dollar system and making gold price manipulation more difficult.
Precious Metals Market
The gold market is in the early stages of a bull market, driven by inflation and central banks’ actions, potentially leading to a shortage as people hold onto their physical gold.
Silver, described as “golden steroids,” could rapidly increase to test the $50 level once it breaks key upside levels, with the current gold-to-silver ratio of 84 being historically high.
US Dollar and Global Economy
The US dollar’s importance as a reserve currency is decreasing as BRICS countries and others use fewer dollar reserves for trade, influencing the Federal Reserve’s reluctance to cut rates aggressively.
Proposed 100% tariffs by Trump on countries moving away from the US dollar for trade could backfire, potentially causing nations to sell their dollars for growing currencies like the Brazilian real or South African rand.
Andy Schectman: BRICS, De-Dollarization, & Gold
(October 25, 2024)
Miles Franklin...
Summary
The rising demand for gold and silver, driven by BRICS nations and a global shift towards safer assets, is leading to potential price surges and a revaluation of monetary policies, amidst concerns over the stability of the US dollar and ongoing banking crises.
Global Economic Shift
Central banks are losing appetite for US treasuries due to inflation meddling and weaponization, causing countries to buy gold instead of US assets, with China accumulating gold and silver at a record pace.
The current gold price doesn’t provide enough liquidity for the Petrodollar system, requiring oil prices to triple to maintain US dollar liquidity, similar to the 1970s Petrodollar introduction.
New Monetary System
Revaluing gold on central bank balance sheets could benefit a new monetary system tied to gold and blockchain, allowing countries to peg their currency to gold for potential competitive advantage.
BRICS Nations and Precious Metals
BRICS nations are accumulating gold and silver rapidly, with China becoming the second-largest silver producer and a net importer, while Russia has increased daily gold acquisition to 8.2 billion rubles.
Banking System Concerns
The Federal Reserve’s Bank Term Funding Program ending soon could lead to a bank run and cascade of bank failures, potentially causing a systemic crisis similar to the 2008 financial crisis.
Doomberg Riffs: Chips, China & Power Plays: The Big Bets on a Multipolar World
(October 25, 2024)
ReSolve Asset Management...
Summary
The rapid growth of open source AI and China’s advancements are reshaping global dynamics towards a multipolar world, challenging U.S. dominance and increasing geopolitical tensions, particularly with the emergence of new trade systems and vulnerabilities in critical supply chains.
Global Power Shifts
The end of US dominance and rise of a multipolar world led by China and Russia is predicted as the biggest mega-trend shaping geopolitics over the next decade.
BRICS countries plan to roll out a new trade settlement system backed by 40% gold and a basket of currencies, potentially replacing the US dollar as the neutral reserve asset for international trade.
Energy and Geopolitics
Europe is the biggest loser in the US-Russia conflict, suffering from energy shortages and economic uncompetitiveness, while the US benefits by supplying expensive energy to the continent.
“Drill baby drill” is deemed the only effective way to starve Putin’s war machine, as sanctions have backfired, allowing Russia to transact at higher prices.
Technology and Global Competition
China’s semiconductor strategy and AI ambitions are critical to its rise as a global superpower, with geopolitical risks surrounding Taiwan’s semiconductor monopoly producing 90% of the most important chips.
AI is a powerful tool for progress, but its threats include widening the inequality spectrum by making skilled people far more skilled, as it’s primarily a tool for experts in specialized fields.
Information and Trust
AI-generated deepfakes can create indistinguishable fake videos of people, enabling blackmail, fraud, and identity theft on a massive scale, with no guardrails to prevent misuse.
To navigate the polluted information environment, it’s crucial to broaden sources to include non-Western perspectives from Iran, China, Russia, Ukraine, and other countries, while identifying trusted sources for deeper analysis.