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Top Three Videos – May 2, 2024

Dave Skarica: Dr Copper Is It A Buy? (April 30, 2024)

StockChartoftheDay...

Summary

 

While copper prices are near all-time highs, it may not be a good buy due to the late economic cycle and potential slowdown, and caution should be exercised in buying copper stocks.

 
 
  • Copper is very economically sensitive and is used in various industries, making it a good indicator of economic activity.
  • The history of copper prices shows that hitting new highs doesn’t guarantee a significant and sustained increase in value.
  • “They need some kind of bust or decline in equity markets and then the Federal Reserve to come in and you know print money cut rates again and that’s when you’ll really see a true epic bull market and all these things.”
  • Dr. Copper’s suggestion to melt down gold and turn it into copper sparked controversy among gold enthusiasts.
  • Historically, when the copper-gold ratio reaches extreme levels, copper tends to outperform gold significantly.
  • “Sometimes you just need to buy things when they’re cheap.”
  • “If you do have a well-run mid-tier or Junior company at 450 copper, you can make a lot of money.”
  • “If there’s some kind of 20 to 30 to 40% draw down in the stock market at some point you’re GNA. See copper fall back to$ 250 to3 and that’s when you want to buy.”

Andy Schectman: Shanghai Gold Exchange Bleeding Dry COMEX & LBMA (May 1, 2024)...

Liberty and Finance...

Summary

 

There is a growing global demand for physical gold and a lack of trust in the current financial system, leading to countries and participants moving away from US treasuries and towards gold and oil as assets with no counterparty risk.

 

  • “They’re bleeding dry the lbma and the comx and the deliveries are off the charts.”
  • The problem starts with reigning in the ridiculous fiscal policy that we have where it’s almost like a heroin addict who can’t say no and can’t stop spending and worse yet borrowing money at increasing interest rates to lend it out across the globe.
  • Countries are selling US treasuries and replacing them with gold and oil, as these assets have no counterparty risk and are in high demand globally.
  • The undercapitalized and overleveraged banking system, including the FDIC, is at risk of collapse due to the unsustainable balance sheet and funding costs.
  • Participants are using the suppression of the Western Market to purchase physical gold at a subsidized price and stand for delivery in Hong Kong, then moving it to the Shanghai Gold Exchange.
  • China’s net gold imports via Hong Kong in March rose about 40% from the previous month, indicating a significant increase in gold demand.
  • The weaponization of assets and the dollar has led to the repatriation of gold from the New York Fed by Eastern European Banks, causing a big buying spree.
  • Several African and Middle Eastern Nations are withdrawing their gold reserves from the United States, showing a lack of trust in the current system.

Jonathan Newman: Did the MMT Camp Correctly Predict the Post-Covid Economy? (April 26, 2024)...

The Human Action Podcast...

Summary

 
 

Government bonds can actually help support the private sector’s finances, contrary to popular belief, and that the MMT camp’s analysis of financial decision-making by sovereign currency issuers is crucial in understanding economic dynamics.

 

  • Government bonds help to shore up the private sector’s finances, contrary to the typical belief that it’s a drag on the private sector.
  • The MMT camp emphasizes the importance of analyzing financial decision-making by sovereign currency issuers as a major starting point for their analysis.
  • “It seems like he was pretty much on point and that Kelton and the MMT are saying that we don’t need to worry about inflation or at least if we do have inflation.”
  • The inflation rate is projected to keep rising for another 11 months before it finally breaks and starts coming back down.
  • “The Growing Pains of an economy that’s emerging from a pandemic and reopening and we see a lot of idiosyncratic uh pressures and supply chain issues and um backlogs and that sort of stuff.”
  • Kelton’s prediction about inflation and the FED’s actions has sparked controversy and debate in the economic community.
  •  

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