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Top Three Videos – January 9, 2024

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This is a MUST-Read...

Stephanie Pomboy: Will The Rise Of Moral Hazard Be Our Economic Downfall? (January 7, 2024)

Thoughtful Money...

Summary

 

The power of perception and cultural attitudes towards debt and financial responsibility are creating a dangerous rise in moral hazard and class warfare, while policy makers are ignoring the challenges to US hegemony and the impact of automation on the economy.

 
  • Stephanie Pomboy highlights the power of perception in creating economic reality, even in the face of negative fundamentals.
  • The pattern of bailouts and forgiveness may be leading to a dangerous cultural shift in attitudes towards debt and financial responsibility.
  • The rise of moral hazard could lead to a cultural sense of irresponsibility and class warfare.
  • The unusual trend of borrowing and interest rates moving together raises concerns about the rise of moral hazard in the consumer credit market.
  • The policy makers in the West seem to have their blinders on and imagine that there is no challenge to US hegemony, but this year might change that complacency.
  • The expectations of lenders that their borrowers would be able to pay them back as rates came down enabled them to continue to shovel money at them, creating a manifestation of expectations creating reality.
  • Automation and AI are removing entry-level jobs and creating a society where only a few are doing well while everyone else’s prospects are diminishing.
  • “We’ve created a culture where our entire economy is basically there to create paper assets. You know a lot of it is just we or not even paper. It’s just to push push digits from one side to the other.”

John Rubino: Global Dynamics, Gold Trends & Societal Divides (Jan. 3, 2024)...

Financial Survival Network...

Summary

 

The global economy is facing potential recession and bear market, with overvalued stocks, central banks needing a crisis to ease aggressively, and societal divides widening, leading to a clash of powerful lobbies and a potential shock to those who think everything is okay.

 
  • Stocks in general are wildly overvalued, with the S&P 500’s PE ratio at 25, indicating a potential recession and bear market on the horizon.
  • The Fed and other central banks will have to ease aggressively, but they’re going to need a crisis to make them go back to QT on steroids and get us down to zero or negative interest rates.
  • Germany’s self-inflicted collapse and de-industrialization due to unlimited immigration and reliance on Russian natural gas.
  • Gold ended 2023 with its highest ever yearly close and made its highest ever monthly close before that, indicating a positive trend in its favor.
  • The pendulum is going to swing back so hard and so fast at some point that it’s going to shock the 5% who think everything is okay.
  • The societal divide between the wealthy and the working class is widening, creating different realities for different people.
  • The clash of powerful lobbies is part of a cultural war taking place not just in the US, but all over the world.
  • China’s history of missed opportunities to become the preeminent power in the world, and their current military shortcomings, raise questions about their future global influence.

Andy Schectman: Gold Rush in 2024: BRICS are Reshaping the Market (Jan.2 2024)...

Wall Street Silver...

Summary

 
 

The growing coalition of BRICS countries, along with other major players like China, Russia, India, and Saudi Arabia, is reshaping the global market and challenging the dominance of the West, potentially leading to a shift away from the dollar as the sole settlement currency for oil.

 

Market Dynamics and Gold Accumulation

 
  • The biggest event in the market happened recently, with Saudi Arabia and OPEC potentially shifting their stance towards the West.
  • Countries like China, Russia, India, and Saudi Arabia are accumulating massive amounts of gold, off the charts and without disclosing the true extent, hinting at a major shift in the global economy.
  • The suppression of interest rates creates an illusion of wealth and prosperity, making gold and silver the “canary” that needs to be killed.
  • The West signaling a loss would cause the gold price to go parabolic very quickly.
  • The rest of the world is using the market against the West, slowly accumulating and taking possession of the majority of the world’s commodities.
  • The rest of the world sees things differently and are accumulating all of the gold and silver, indicating a shift in the market dynamics.
     

Geopolitical Shift and BRICS Coalition

 
  • The growing Coalition of countries, the BRICS, is gaining legitimacy, credibility, and critical mass, signaling the end of the US hegemony.
  • The growing coalition of BRICS countries, excluding the West, is a significant geopolitical shift that is reshaping the global market.
  • BRICS countries are seeking to be more reliant on themselves rather than the West, pushing back against Western capitalism and the pillaging of the world’s commodities.
  • The BRICS countries are challenging western dominance in the right way, reshaping the market in 2024.
     

Dollar Supremacy and Global Economy

 
  • There will be a move away from the dollar as the sole settlement currency for oil, which could be a very dangerous mistake to ignore.
  • The next system will have to be pegged to something, like a gold back currency, based on commodities and transparency.
  • The world’s reliance on the dollar for buying oil is an exorbitant privilege that could be challenged by a new BRICS settlement currency.
  • “The illusion of dollar supremacy is maintained by low interest rates and a low gold and silver price, as they are a barometer of the health of the system.”

 

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