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Top Three Videos – February 23, 2024

David Skarica: NVDA Blows out Earnings, Top 10 Stocks at Record Levels of the Market (February 22, 2024)

StockChartoftheDay...

Summary

 
 
 

Nvidia has become the leading stock, surpassing even Apple, Amazon, and Microsoft, indicating a potential shift in market dynamics.

 

  • Nvidia has become the leading stock, overtaking even Apple, Amazon, and Microsoft.
  • Nvidia’s parabolic rise may not be sustainable in the long run.
  • Nvidia is now bigger than all the energy stocks and S&P combined, indicating the massive shift in market dynamics in just two years.
  • The market is very top heavy with stocks like Microsoft, Amazon, and Apple near their highs, indicating a potential shift in market dynamics.
 

Joseph T. Salerno: Hyperinflation and the Destruction of Human Personality (Feb. 21, 2024)...

Mises Media...

Summary

 
 

Hyperinflation can lead to the destruction of human personality, causing economic and social disintegration, loss of identity, and a focus on trivial things, ultimately leading to the rise of authoritarian leaders.

 

  • Hyperinflation undermines the very nature of property and causes a withering of human personality, eliminating the basis of independent human existence and personality.
  • Hyperinflation can lead to the dissolution of a society based on voluntary contract, replacing it with a totalitarian order where property and personality are collectivized.
  • Property is the embodiment of the yearnings and aspirations of the human spirit, defining and delimiting an individual’s personality.
  • The devaluation of money and property during hyperinflation can have a profound impact on human personality and society as a whole.
  • The malfunctioning of money during hyperinflation reshapes one’s identity and most cherished beliefs about the world.
  • Hitler described the state as the biggest swindler and crook, reflecting the destructive nature of inflation.
  • Hitler capitalized on the self-contempt of those who had been swindled out of their property and moral values, regressing them to the immature state of adolescence.
  • German hyperinflation illustrates the link between property and personality based on universal principles established by praxiology, challenging contemporary macroeconomics.
 

Von Greyerz and Piepenburg: The Worst Time (and Backdrop) for Yet Another Grotesque Stock Bubble… (February. 22, 2024)...

Von Greyerz...

Summary

 

The US federal debt has grown exponentially, leading to a debt-driven world economy with potential consequences of market collapse, and it’s important to invest in physical gold to protect against financial instability.

 
  • The US federal debt has grown from under $1 trillion in 1980 to $34 trillion today, showing the debt-driven nature of the world economy.
  • US debt has doubled every eight years since 1980, and it’s predicted to reach 100 trillion by 2036, with unlimited money printing and weaker currencies.
  • Stock markets are at a peak with unbelievable valuations, and markets could collapse and probably will collapse.
  • “Nvidia went from 4 billion to 10 billion in profits in 2021, then lost four billion and then went to 19 billion in 2023, it’s actually much more grotesque now.”
  • The potential ripple effects of the current bubble popping could have dramatic consequences on the economy and society as a whole.
  • Central banks will eventually move into gold as they will not hold dollars as currency reserves.
  • It’s important to invest in physical gold and hold it outside the banking system to protect against potential financial instability.
  • Central banks will do more than ever before to support the gold price, making it go up dramatically in relation to falling fiat currencies.

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