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Top Three Videos – July 18, 2024

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This is a MUST-Read...

Alasdair Macleod: Credit Collapse Will Wipe Out Everything Except Gold & Silver (July 17, 2024)

Commodity Culture...

Summary

 

Owning physical gold or physical silver is the only escape from a credit collapse and that the value of paper currency going down means money is returning to silver, making it a catch-up monetary asset.

 

Gold and silver as monetary assets

 
  • “The people who will protect themselves from the multiple crises are the ones who understand that it’s the paper currency going down, not gold rising.” – Alasdair Macleod
  • The credit collapse will wipe out everything except gold and silver.
  • Alasdair Macleod challenges the idea that silver is no longer a monetary metal, stating that it is still part of the common law based on Roman law.
  • Gold, silver, and copper are actually money of Last Resort, everything else is credit, a concept that few people understand.
  • The value of paper currency going down means money is returning to silver, making it a catch-up monetary asset.
  • The only escape from a credit collapse is to own physical gold or physical silver, particularly physical gold.
  • The Chinese approach to gold is that this is money, the ultimate form of money, and the ultimate protection against the west.
     

Currency devaluation and collapse

 
  • “How far do you see the dollar going down or Euro going down or whatever your favorite currency is um and the answer to that I’m afraid is I think they’re all on their way to zero.”
  • The potential for nuclear war in Ukraine and the Middle East is a real concern, and the political class seems to have no recognition of the US dollar’s debt trap.
  • The value of fiat currencies depends on the faith and credit of the government, without gold backing it’s just faith in the government.

Teddy Atlas: Mike Tyson, Cus D'Amato, Boxing, Loyalty, Fear & Greatness (December 23, 2023)...

Lex Friedman...

Summary

 

Loyalty, forgiveness, and facing fear are crucial elements in the speaker’s reflections on life, mentorship, and the impact of influential figures like Cus D’Amato and Mike Tyson.

 
  • The story of Teddy Atlas, Cus D’Amato, and Mike Tyson is a powerful example of the contradictions of love and anger that permeate human relationships and philosophy on life.
  • Teddy Atlas felt no fear when he was close to death, and he believes that is the only time you are truly free in life.
  • “Without fear we wouldn’t be able to be great.” – Teddy Atlas on the connection between fear and greatness.
  • The pain of betrayal and the difficulty of being loyal is a powerful and emotional experience.
  • Cus D’Amato believed that to be a champion, you had to be special, smart, and have character, and that you couldn’t make a champion if you didn’t make him a better person first.
  • Mike Tyson understood that his audition in the gym was a chance to change his life, and he instinctively knew what qualities the trainers wanted to see in him.
  • “What happened don’t matter. It don’t matter that you got shot in the head. I know that sounds absurd, but if you believe that it was important to stand up and take the chance to get shot in the freaking head. Rather than to live like an empty vessel, you know what? That’s all that freaking matters.”
  • Teddy Atlas believes that part of the battle to be a better person is necessary to be a great fighter.
  • Fear is at the essence of everything, it is connected with everything.

Grant Williams: Why a US Dollar Crisis Could Happen OVERNIGHT (July 17, 2024)

ITM Trading...

Summary

 

The current monetary system is at its tail end and central banks and sovereign states are turning to gold as an alternative to the dollar due to the risk of losing access to dollar assets.

  • We are at the tail end of a monetary system that has been in place since post World War II.
  • Despite headlines saying housing is unaffordable, house prices are 71% cheaper in Gold than they were in 2003.
  • Central banks have been buying gold for two years as a plan B due to the risk of losing access to dollar assets.
  • Central banks and sovereign states now need to have an alternative to the dollar because it can get taken away from them and gold is the alternative.
  • The current monetary system is at its tail end and will collapse due to the built-up debts.
  • It could literally happen overnight.
  • The BRICs are in a position where they see weakness in America and the West, and they finally have a moment where they can say, “hey look, this system doesn’t really work for us anymore.”
  • The willingness to change their mind sets successful investors apart, admitting when they’re wrong and moving on.
 
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