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Top Three Videos – August 8, 2023

Doug Casey- We're Inching Toward WW3 as Trust Across Society Plunges
Stansberry Research

Quick Summary Bullets:

Declining Trust and its Consequences

  • “We’re Inching Toward WW3 as Trust Across Society Plunges” warns Doug Casey, highlighting the alarming decline in trust and the potential consequences it may have on global conflict.
  • “Doug there is no time in history where the people who were censoring speech were the good guys.” – Robert Kennedy Jr.
  • Trust across society is declining, which is a concerning trend that may contribute to the potential escalation towards World War III.
  • “You should be able to say anything that you want to including hate speech…because I like to know what’s on other people’s minds and if they say things, it’s by saying things that you can figure out who it is you’re dealing with.”
  • Communication is essential for human progress, and restricting it would reduce us to the level of herd animals.
  • The situation in Ukraine highlights the potential for trust to decline across society, which could have broader implications and potentially lead us closer to a global conflict.
  • “Doug Casey is about my favorite person to talk to on on Zoom or whatever.”

Economic and Financial Perspectives

  • “If they destroy the dollar, it’s probably the biggest single thing that they can do to actually destroy civilization in the U.S starting with the people on the bottom of society.”
  • Central bank digital currencies are a bad idea on steroids, as they take away agency from individuals and allow governments to easily create more currency and seal off bank accounts.
  • “Anybody who thinks for themselves and understands economics and history should have a significant amount of gold and silver coins in their own possession and a significant amount of Bitcoin because I think that Bitcoin has proven itself to be a viable currency.”
  • Mining stocks are currently the cheapest class of securities in the world, making them a great speculation opportunity with the potential for explosive growth in the near future.

Transcript Summary:

  • 00:00 Wall Street veteran Mark Chaikin warns of an upcoming historic stock market shake-up that could lead to devastating losses for investors, urging them to move their money within 90 days and offering a free report with insights and recommendations.
  • 01:38 Trust is declining and we’re heading towards WW3, says Doug Casey, while emphasizing the importance of freedom of speech and criticizing Robert Kennedy Jr.’s affiliation with the Democratic party.
    • Trust across society is declining and we are inching towards World War III, according to Doug Casey.
    • Robert Kennedy Jr. is right in saying that throughout history, those who censor speech are never the good guys, and while there are many things to like about him, the main problem is that he remains a member of the Democratic party.
    • The U.S. Constitution’s Bill of Rights, specifically the first amendment, emphasizes the importance of freedom of speech and its protection from government interference.
  • 05:08 Casey argues for the importance of allowing hate speech to understand people’s true thoughts, emphasizes the need for unrestricted communication, and expresses skepticism towards politicians and political systems, while Robert Kennedy Jr. proposes backing the US dollar with Bitcoin and gold as a potential solution.
    • Casey supports the idea of allowing hate speech because it helps to understand people’s true thoughts and identities, even though it may lead to violence.
    • Communication should not be restricted, as it helps identify people’s true nature and thoughts, and if we cannot freely communicate, we are no better than animals.
    • Robert Kennedy Jr. suggests backing the US dollar with Bitcoin and gold, which could potentially solve a major problem, although the speaker remains skeptical of politicians and political systems.
  • 08:32 The speaker warns that the unlimited creation of dollars by the US government and Federal Reserve could lead to the destruction of the dollar, suggesting gold or Bitcoin as better alternatives, while also criticizing the Federal Reserve’s control over interest rates and the launch of a payment system seen as a step towards a central bank digital currency.
    • Casey warns that the unlimited creation of dollars by the US government and Federal Reserve could lead to the destruction of the dollar, negatively impacting the lower class, and suggests that using gold or Bitcoin as a form of money could be a better alternative.
    • The Federal Reserve should be abolished along with fractional reserve banking, as it has gained too much control over the US economy and is debasing the currency, while alternative solutions like Bitcoin or gold are seen as too radical.
    • cacriticizes the Federal Reserve’s control over interest rates, arguing that it should be determined by the market rather than appointed individuals.
    • The FED has officially launched a payment system, which some believe is the first step towards a central bank digital currency.
  • 13:30 The increasing power of central banks, the decline of trust in society, and the deteriorating US-China relations are pushing us closer to World War III, while El Salvador’s transformation and the importance of owning gold, silver, and Bitcoin provide potential solutions.
    • Central banks having digital currencies is a bad idea as it gives them too much control and the ability to easily create more currency and seal off bank accounts.
    • The increasing power of the state, fueled by the willingness of individuals to trade their agency and financial freedom for convenience, is a concerning trend that emphasizes coercion over volunteerism in society.
    • Society is going in the wrong direction, with a majority of the US population being influenced by a corrupt education system and the use of psychoactive drugs, making it unlikely for there to be a rebellion against Central Bank digital currencies; however, individuals who think for themselves and understand economics and history should have gold, silver coins, and Bitcoin as a form of currency.
    • El Salvador’s transformation under its leader has the potential to turn it into a new Hong Kong or Singapore, and the deteriorating US-China relations, highlighted by Henry Kissinger’s visit with Xi Jinping, are concerning as Kissinger is much smarter and competent than Joe Biden and his cabinet.
    • World War III is becoming increasingly likely, either by provoking the Russians on the east or the Chinese on the west.
    • The US has transformed into a dangerous and hated country due to its out-of-control government, growing debt, and excessive regulations, resembling the Jacobins of the French Revolution.
  • 22:11 Casey warns that trust across society is plummeting and we are inching towards WW3, with Russia’s invasion of Ukraine, the destruction of a pipeline between Russia and Germany, and Italy seeking migration support from African nations to curb human trafficking in Europe.
    • Donald Trump claimed that if he were president, he could end a war in 24 hours, but the speaker believes it is criminal that the war in Ukraine, which is just a border dispute, continues.
    • Russia invaded Ukraine and the conflict has resulted in a significant loss of life and territory for Ukraine.
    • The US is to blame for the destruction of a pipeline between Russia and Germany, and the European leaders are criminally stupid, as discussed in a town hall with Tucker Carlson and Mike Pence, while Italy seeks migration support from African nations to curb human trafficking in Europe.
  • 25:47 Immigration from Africa can be reduced by addressing the exploitation of its resources, eliminating government corruption, and focusing on internal solutions rather than importing more people, while also acknowledging the challenges of poverty and lack of western civilization elements in Africa.
    • Immigration from Africa would decrease if France stopped exploiting the continent’s resources, as child labor in Africa is a result of poverty rather than evil employers.
    • Government corruption in Africa is rampant and the only solution is to eliminate the government entirely, as the current system allows those in power to steal and accumulate personal wealth.
    • Casey discusses the issue of African immigration to Europe and suggests that the solution lies within the countries themselves rather than importing more people, as it would result in the transformation of the host country and the migration of existing problems.
    • Africa’s poverty will never be resolved because it lacks the elements of western civilization, such as freedom of speech and scientific thinking, making it a challenging place for investment and mining.
    • Mining stocks are currently the cheapest class of securities in the world and have the potential to experience a significant upward surge in the near future, despite the challenges and risks associated with the mining industry.
    • Countries today lack the rule of law and property rights, making it important to consider risk, reward, and cost when investing in different jurisdictions.
  • 34:08 Trust across society is declining, potentially leading us closer to World War III, as we increasingly live in our own information silos and should focus on tangible realities rather than uncertainties.
    • Increasingly, we live in our own silos where the information we see and hear electronically may not be trustworthy, so it is important to focus on things we can see, touch, and feel in front of us rather than getting caught up in the uncertainties of the world.
    • Trust across society is declining, and this could lead us closer to World War III, according to Doug Casey.

Monthly Wrap-Up With Host Craig Hemke and Special Guest David Brady
Sprott Money

Quick Summary Bullets:

  • The significant increase in short positions on Comex silver by banks suggests that something is looming in the silver market, potentially indicating a future price movement.
  • The risk-reward in the metals and miners is currently to the upside, with relatively small risk and enormous potential reward.
  • The analogy between the current situation and the years 2010-2018 suggests that a shift in monetary policy could lead to a significant rally in gold.
  • Gold and silver may experience a temporary pullback when stocks reverse, but the response to the crisis is what ultimately drives their prices higher.
  • “I think the markets will peak, and then we’re going down, down, down. All the rate cuts and QE that they throw at the market, all it’ll do is slow the fall.”
  • Owning physical gold and silver can serve as an insurance policy against the coming inflation, deflation, and the potential for a great reset.
  • “The only safe harbor is gold and silver. Physical gold and silver.”
  • “Gold never bottoms when it’s bullish. It bottoms when it’s extreme bearish. But that’s when everybody’s throwing in the tail. That’s the time you should be buying.”

Transcript Summary:

  • 00:00 Prices were volatile, with the dollar and metals fluctuating, as the Fed focused on inflation despite weaker economic data.
    • Prices have been volatile and there is a lot to discuss in this month’s wrap-up with host Craig Hemke and special guest David Brady.
    • During the month, the dollar and metals fluctuated, with the Fed emphasizing inflation despite weaker economic data.
  • 02:13 Core PCE inflation dropped, indicating the need for the Fed to pause rate hikes, while the ECB’s lack of surprises had little impact; strong GDP data and durable goods orders were offset by a decline in retail sales, and an increase in shorts on Comex silver suggests a possible market downturn.
    • Core PCE inflation fell from 4.6% to 4.1%, suggesting that the Fed should pause and assess the impact of their rate hikes, while the ECB’s lack of surprises had a minimal effect on the market.
    • GDP data, durable goods orders, and home sales were unexpectedly strong, but retail sales adjusted for inflation were down, causing concern about the economy; meanwhile, the increase in shorts on Comex silver by banks suggests a potential market downturn.
  • 05:20 Despite possible downside, the risk-reward in metals and miners is favorable due to Fed policy and market trends, with gold potentially reaching 106 and continuing to rise once it surpasses 2,000.
    • The speaker believes that despite a possible further downside, the risk-reward in metals and miners is currently favorable due to the Fed’s policy and recent market trends.
    • Gold could potentially go up to 106, but unless there is a major crisis in Europe causing the Euro to drop, conditions are favorable for a rebound and once gold surpasses 2,000, it will continue to rise.
  • 07:25 Gold market remains resilient as the speaker highlights similarities to previous years where Fed’s hawkish rhetoric led to new QE programs, with upcoming Jackson Hole Forum and Powell’s speech being crucial, while gold and silver prices typically perform well during this time.
    • The speaker discusses the similarities between the current situation and previous years where the Fed’s hawkish rhetoric eventually led to a shift or new QE program, which explains the resilience in the gold market, and mentions the upcoming Jackson Hole Forum where Powell’s speech may be crucial for the month.
    • Gold and silver prices typically perform well during this time of year, which is important for the analysis that David Brady does.
  • 09:12 Despite a potential stock market crash, the speaker predicts a rise in gold and silver prices due to the declining economy and upcoming events in October.
    • Everything is lining up for the speaker, and the only potential surprise would be if the speaker takes a dovish stance instead of a hawkish one.
    • Stocks have had a great run and are close to reaching a new all-time high, but there is a possibility of a crash which could initially bring down gold and silver prices, however, it is the response to the crisis that will ultimately drive gold and silver higher.
    • The speaker predicts that despite the Federal Reserve’s rate cuts and quantitative easing, the economy will continue to decline, causing a temporary drop in gold and silver prices before a potential rise, with the main event expected in October, historically a bad month for stocks.
  • 13:06 The Fed’s rollout of CBDCs may include universal basic income and a digital ID, so it’s important to get physical gold and silver as an insurance policy against the declining economy, stock decline, inflation, deflation, and a great reset.
    • The Fed’s rollout of CBDCs will require a digital ID and may include universal basic income as a way to pacify the masses through money printing.
    • Get physical gold and silver as an insurance policy because the economy is going downhill, stocks will decline, the Fed will respond with CBDCs and UBI, and inflation will occur followed by deflation and a great reset.
  • 15:52 Physical gold and silver are the only safe investments, while other metals and cryptocurrencies may have short-term potential, central banks are unlikely to embrace Bitcoin and a potential new gold-backed currency could cause the gold price to skyrocket.
    • The only safe investment is physical gold and silver, as other metals like palladium and platinum are more industrial, and while the speaker acknowledges the short-term potential of crypto miners, they do not believe Bitcoin will be embraced by central banks or surpass central bank digital currencies.
    • There is talk of a potential new trading unit or currency with a gold backing being announced at the BRICS Summit in August, which could cause the gold price to skyrocket, but the banks may initially protect their short positions.
  • 17:25 Sentiments in the gold and silver sector are volatile, bottoming when bearish and topping when bullish, but by analyzing COT data, sentiment, and technicals, trends in assets can be predicted.
    • Sentiments in the gold and silver sector are extremely volatile, with gold bottoming when it’s extremely bearish and people should buy, while it tops when people are bullish.
    • Human nature is to follow the crowd, but by looking for extremes in COT data, sentiment, and technicals, anyone can predict trends in various assets relatively easily.

Bidenomics downgrade, from AAA to AA+
The Duran

Quick Summary Bullets:

  • The credit rating agencies have significant power and influence over investment decisions, as their downgrades can deter investors from putting money into certain countries.
  • The U.S. Treasury’s decision to increase borrowing to a trillion dollars reinforces the precariousness of the U.S. credit rating and highlights the administration’s priority to avoid a recession by going on a massive spending spree.
  • Inflation numbers are expected to tick up again once the spending gets underway, potentially leading to interest rate increases in the U.S.
  • The manufacturing PMI numbers in Switzerland and Germany are extremely low, indicating deep contraction and suggesting a significant economic downturn.
  • The priority for the US is to avoid recession and not follow the path of Europe, as it would lead to unemployment, economic difficulties, and potentially anger among the population.
  • Pumping money into the economy may create short-term demand but could erode the industrial base and lead to inflation, posing a challenge for the Biden administration.
  • “If the media were more evenly balanced in the United States, we would have a completely different political picture going forward. The media helps [Biden] to an extraordinary degree. It is their recent their race and they play it for all it’s worth.”

Transcript Summary:

  • 00:00 The U.S. credit rating has been downgraded from AAA to AA+ by a U.S. credit rating agency, potentially leading to other agencies following suit without any resistance from the U.S.
    • The U.S. credit rating has been downgraded from AAA to AA+ by a U.S. credit rating agency, which is significant considering all these agencies are based in the U.S.
    • Credit rating agencies, such as Moody’s, have legal rights to determine credit valuations, and the recent downgrade of the US government’s ratings by a US agency may lead to other agencies following suit, with no pushback from the US.
  • 02:23 The US credit rating is downgraded due to the government’s increased borrowing and spending to avoid a recession during the election year.
  • 04:01 Biden’s increased spending will cause inflation, which the Federal Reserve’s efforts to control will only be temporary, as inflation is expected to rise again next year, potentially leading to higher oil prices and a continuous cycle of inflation.
    • Biden’s increased spending will lead to inflation and the Federal Reserve’s efforts to bring it down will only be temporary, as inflation is expected to rise again next year.
    • Oil prices are expected to rise due to increasing upward pressure, potentially connected to the perception of a second big spending splurge by the Biden Administration, leading to inflation that may temporarily decrease but will likely creep up again in 2024.
  • 06:34 Biden’s campaign is facing a difficult balance between avoiding a recession and dealing with severe economic indicators, such as Switzerland’s manufacturing PMI collapsing to 38 and Germany’s being around 40.
  • 07:37 The US has avoided recession by implementing a spending program disguised as an inflation reduction act, in order to prevent unemployment and anger from voters, who may then vote for Donald Trump.
  • 09:05 Pumping money into the economy to counter recessionary pressures may lead to increased imports, eroding the industrial base, and potentially causing inflation, but the priority is to prevent a recession at all costs, even if it means accepting some inflation.
  • 10:49 Biden’s opponents blame him for canceling a deal and cutting production, but it’s a calculated move to shift blame and maintain control if they lose the election.
  • 12:10 Biden’s economic policies have caused a collapse in confidence, with markets going crazy, inflation spiking, and production falling, while the media’s biased support is their only advantage in elections.
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