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Top Three Videos – August 31, 2024

► Searching for the Best Gold IRA Company?
This is a MUST-Read...

Michael Pento: Unending Madness: Election Economics Chaos (Aug 29, 2024)

Financial Survival Network...

Summary

 

The government’s and Federal Reserve’s economic policies, including excessive money printing and debt accumulation, are unsustainable and will ultimately lead to a severe economic crisis, including hyperinflation, bankruptcies, and a massive market correction.

Critique of Economic Policies and Institutions

 
  • The government’s options to fund its spending are limited to either stealing from the people who have it or printing more money.
  • “My God are we living in a world of economic illiterates”
  • The Federal Reserve printed $800 billion from its formation in 1913 to 2008, but in the 14-15 years that followed, the balance sheet ballooned to $8 trillion.
  • Price controls have never worked in history, and they only lead to shortages and even higher prices for the things people want, as corporations stop producing goods and services that are no longer profitable.
  • We need to put the handcuffs on the Federal Reserve, stop their madness.
  • The US has more total non-financial debt than ever before, with a debt-to-GDP ratio of 260%, compared to 240% in 2008 and 180% in 2000.
  • The FED’s rate cuts in 2007 didn’t stop the S&P 500 from crashing by 50% and the housing market from losing 33% of its value.
  • $3.35 trillion in debt, unfunded liabilities over $1 trillion, $2 trillion deficits in peacetime, and $1 trillion in interest payments, yet lending to the government at 3.8% for 10 years is considered reasonable.
  • We have to let markets function, we have to bring down the level of these asset prices, we have to let Banks fail, we have to let pension plans and investment banks and insurance companies fail.
     

Predictions and Consequences of Economic Chaos

 
  • “Since 1955 every single time we’ve had an inverted yield curve, we had a recession except for one time when GDP went from 10% to 0%.”
  • If you’re gonna believe in a massive Rebound in stocks and asset prices and a re-leveraging of an economy and a rebounding in economic growth from here, you are insane.
  • The global economy’s debt would have to be marked to its true value, which would shut down the financial institutions of the world and require a recapitalization plan for the banks.
  • Hyperinflation, or at least intractable inflation, with multiple years of double-digit to near triple-digit inflation, will be the catalyst for change and cause bankruptcies.

Peter St. Onge: From Price Controls to Mass Starvation (Aug 29, 2024)

Peter St. Onge...

Summary

 
 

Price controls inevitably lead to food shortages, economic chaos, and societal unrest, as evidenced by numerous failed attempts throughout history.

 

  • Price controls have been tried many times and each time they failed so spectacularly, resulting in pain, suffering, and empty shelves.
  • Venezuela repealed price controls in 2016 after food shortages and nationwide riots.
  • When government announces that grocery stores cannot raise prices despite inflation, their costs keep going up, turning pennies of profit into losses.
  • Surviving grocery stores shift shelf space to non-price-controlled items like clothing and furniture, making them look more like dollar stores with a little food and a lot of junk.
  • As cities clear of food, you’d need police patrolling parking lots and armed escorts on delivery trucks.
  • As food producers downsize or go under, actual food shortages start to occur.
  • The government will struggle to operate one of the most complex industries on the planet, as Sterling puts it, leading to a complete implosion of the food supply chain.
 

Michael Oliver: Time Is Running Out, FED Cut To Mark The Top, GOLD TO $8,000? (Aug 29, 2024)

Soar Financially...

Summary

 
 

A potential stock market downturn and a rate cut by the Fed could lead to a significant surge in gold and silver prices, potentially reaching levels as high as $8,000 for gold and $55 for silver.

 

  • The FED cutting rates is exactly what you’re looking for gold and silver and the miners to break out above annual momentum basing actions.
  • If the current bull market matches the prior ones, gold’s price could reach around $8,000, considering the eightfold move from the 2015 low of $1,050.
  • Some analysts think gold could go as high as $20,000.
  • Gold and silver prices may surge to shocking levels in the next few months, with silver potentially reaching $55.
  • Historically, gold and silver have not always followed the stock market’s downturn, and in some cases, like the 1987 crash, gold went up about 9% during the crash week.
  • A potential stock market rollover could lead to a “buying panic” in the gold market, surprising many who expect gold to follow the stock market’s decline.
  • Gold went up during the bank crash, while the S&P only dropped 5 or 10%, showing a “bank Ambush” where gold separated itself from the market.
  • The charts show that gold and silver miners, such as GDX and GDXJ, are vastly undervalued historically.
  • The spread between GDX and gold has increased significantly since 2015, with GDX being up a lot more than gold despite its seeming weakness.
  • If the Fed cuts rates, it will mark the top, and gold could potentially rise to $8,000.
     

Market Patterns and Historical Trends

 
  • The last two major bull market tops could have been circled at the point when the FED cut rates, and history suggests that’s when you should have shorted the high.
  • Those errors will show themselves in unpredictable ways, affecting multiple areas, not just one like the mortgage market in 2007-8.
  • A drop to 17,500 in the NASDAQ 100 would blow the quarterly momentum floor, similar to the 1987 momentum floor.
  • The current pattern is similar to those seen in 1987 and 1929, which could indicate a significant market downturn.
  • This time, investors have already bought into the rate cut, so it wouldn’t shock me if there’s almost no response when they cut rates.
  • The stock market is the last one waiting to complete the trend, and when it breaks to the downside, all four major asset categories will have decided their new direction, meaning long gold, long T-bonds, short stocks, and short dollar.
  • I think you could get a White Knuckle flight going through those recent highs that takes you well beyond the 50 level.
 
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