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Top Three Videos – October 19, 2023

Ask The Expert - Michael Oliver - October 2023

Sprott Money...

Summary

Gold is expected to remain stable and perform well due to awareness of an impending economic downturn and potential market distortions caused by central bank money printing.

Key insights

  • Michael Oliver’s experience as a broker allowed him to catch the crash in 1987, showcasing his expertise in predicting market downturns.
  • Michael Oliver accurately predicted the market crash in October 1987, leading him to develop his methodology for analyzing asset categories.
  • The current context of the stock market is compared to the monetary expansion period of 1923-1929 and the subsequent crash in 1932.
  • The addiction to free money and false concepts in decision making processes will lead to an exposure of events and developments that nobody is expecting.
  • The behavior of the bond market, with yields choking multiple sectors, has prompted major CEOs of top banks to urge the Fed to intervene.
  • Gold and silver prices have been in a downtrend since May, but there are hints that they are beginning to turn around, with improved internal positioning and changing rate hike expectations.
  • Gold has experienced a corrective process since March-April, but last week’s breakout indicates a shift towards upward momentum.
  • T-bonds are likely to start rallying, causing a short covering rally that can be painful for late shorts, while gold is expected to surge back as well.

Peter Klein: How the End of US Dollar Hegemony Affects the Business Landscape

Mises Media...

Summary

The end of US dollar hegemony would lead to a more stable monetary system, less government interference, and better economic calculation for entrepreneurs.

Key insights

  • Dollar hegemony not only affects business conditions and economic conditions at home, but also allows the US to intervene in foreign policy and governance issues around the world, highlighting the far-reaching impact of the current system.
  • Innovation and the adoption of tools, such as a fishing net, can significantly improve productivity and efficiency in an economy.
  • The value of present means, such as labor, needs to be compared with the value of future ends, like enjoying all the fish, in order to make informed decisions about resource allocation.
  • “Economic calculation is necessary for entrepreneurs to compare the value of future ends with the value of present means, and having prices expressed in a common monetary unit is crucial for this.”
  • The role of an entrepreneur is to actively work towards bringing about their vision of the future, whether it’s creating a company or launching a new marketing campaign.
  • “I need some system of calculation where I can compare heterogeneous items in a common unit. That’s exactly what the price system does.”
  • Prices are essential for entrepreneurs to make informed decisions about production methods, capital investment, and estimating future consumer demand and profitability.
  • The shift away from the US dollar could result in a business landscape with fewer obstacles for entrepreneurs, enabling more efficient economic calculation and decision-making.

Stealth Bottom in Gold & Gold Stocks?

The Daily Gold...

Summary

Gold may have experienced a potential false breakdown and could be forming a significant bottom, potentially leading to a bullish trend and a possible breakout.

Key insights

  • The weekly bar chart of gold shows the potential of a false breakdown below 1900, indicating a possible stealth bottom in gold and gold stocks.
  • If gold holds above 1900 and consolidates for a bit, it could potentially push higher to 2,000, which would be really bullish.
  • The possibility of gold making a new all-time high against foreign currencies is giving the speaker a lot more confidence in the market, despite having low confidence just a week or two ago.
  • Historical patterns suggest that breakout moves in gold tend to occur after significant lows in the net spec position.
  • “There’s very low open interest in the market, which is a really good sign.”
  • “The coot is telling you that there’s not very much selling pressure left in this market.”
  • The speaker emphasizes the importance of monitoring the advanced decline line when coming off a bottom in the market.
  • “We have to look at this data and really consider the possibility that we’ve just seen a stealth bottom in gold and the gold stocks.”

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