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Fri, Mar 20, 2020 - 4:24pm

Since the entire world is basically on lockdown this weekend, I just thought I might consolidate this week's media and interviews into one handy thread.

If you've made all your preparations to "shelter in place" for a while, then you'll likely need something to keep your mind occupied. So here are links that you might find helpful.

First of all, I was on again with Max and Stacy. Though this episode was recorded last Monday, the content is certainly still relevant:

Also from earlier in the week, here's a link to a discussion with the great Dr. Janda on his radio program, "Operation Freedom": https://operation-freedom-shows.s3.amazonaws.com/MAR15_2020/CraigHemke03...

Next, this Thursday Conversation with silver expert David Morgan was recorded on Thursday morning: https://www.tfmetalsreport.com/podcast/10015/thursday-conversation-david...

This discussion with Trevor Hall of The Mining Stock Journal was recorded on Thursday, as well: https://www.podbean.com/media/share/dir-ys3p2-85b9c8b?utm_campaign=w_sha...

And finally, with the Sprott Money site temporarily offline, here's the Soundcloud link to Friday's Weekly Wrap-up discussion with Eric Sprott: https://soundcloud.com/sprottmoney/sprott-money-news-weekly-wrap-up-32020

Thanks and have a great weekend. And remember, we're all in this together....and we will persevere.

TF

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  28 Comments

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chrtooAngry Chef
Mar 22, 2020 - 9:56pm

Garage Parties.

Without helmets! I am there.. in these times, you take what you can get!

CHR.

allenbAngry Chef
Mar 21, 2020 - 10:56pm

Fed buying stocks and corporate bonds

Angry Chef,

Yep . It's always been my suspicion that the end game is for central banks to own the world through debt.

zman and jaba thanks for your excellent posts and opinions.

Stackable
Mar 21, 2020 - 12:35pm

Andrew Maguire Video

Episode 8: Live from the Vault – A word from the App developers
silverseekerzman
Mar 21, 2020 - 12:07pm

Maybe not this time, maybe never again

Zman; the dollar is presently rising due to massive liquidations priced in dollars; it is a very transient condition. What are the entities receiving these dollars doing with them? The recycling into petro-dollar funding of the US Treasuries is massively reduced @$22 oil, so the excess USDs have to go where? The US Treasury paid a point or two above other central banks; Triffen’s Dilemma; and the COVID stimulus response is totally ignoring this dynamic. The USD as reserve currency has depended on this mechanism and defended it by US military for 50 years....

So if oil is awash in excess, no demand rebound, and not going back to $30+ soon; US shale is dead... add US oil to list of the bailout gravy bonanza... this money does not stay in the ‘financial system’ it is in aggregate another hole in the dike of the USD, as Powell or Mnuchin; along w Congress has opened Pandora’s Box conditions for hyperinflating away the USD. And they are not alone...

All major economies are presently in, or going into quarantine slow down- shut downs. All the stimulus being created and just as the new money is received; there is going to be sovereign level supply shortages... consumer psychology is going to flip. Exports are going to drop!

You already see hoarding due to the initial wave of fear... well this is not a snowstorm; the shortages are likely going to last longer than the meager bail out checks; meaning the prices for what is available is going to rise rapidly as either the banks print more cash you cant spend; or nobody will have cash and its Venezuela world wide.

Austerity is not confined to monetary policy; it will be dictated by real world supply and demand. If the present monetary regime maintains the control you describe through all this; I will be amazed and sad. I expect we see a massive drop in USD purchasing power on the other side... Why? Because nations are going to value and consume their own production more than they will value USDs. This is why I both agree with you; cash is presently king... but disagree; don’t hold on to it too long. Those who thought they could time their transfer of dollars into PMs already realize the scam of “$12.00 silver”; it doesn’t exist.

b72s
Mar 21, 2020 - 11:19am

This is when Turd smells as sweet as a rose

Time will be on our side soon enough

jaba
Mar 21, 2020 - 4:50am

The Outlook For Gold and Silver

The route that the major Governments of the world have chosen, is apparently to print money without limitation, as they realise that they must do so to prevent a humanitarian and social calamity on a global scale. But also, in an effort to save the international financial system as we know it. This chosen route has historically resulted in hyperinflation!

The action taken by the major Governments is that they will throw all available resources:

  • (a) To defeating this Corona Virus and they will succeed, but how long it takes and how many die, only time will tell.
  • (b) To prevent social collapse and/or a social uprising, as well as a collapse of the business (Main St) sector. If implemented properly any such action should also succeed, particularly as Governments appear to be throwing any financial budget constraints completely out of the window.
  • (c) To save the international financial system as we know it. In this regard, IMO, to any objective observer, the current international financial system is so corrupt, dysfunctional and broken, as to make it no longer fit for purpose. Ergo, it can either die a painful death via hyperinflation, or the G20 needs to get their collective heads together, along with those of the BIS, US Fed and the other major Central banks. The objective, to agree and introduce a new financial system which incorporates sweeping branch and root reforms that address the core problems undermining the current system and causing these financial crises. This scenario is highly unlikely (see below).

As to item (c) above, the West (i.e. the Puppeteers), will do everything possible to prevent the abolishment of the Central banking and the Fractional banking systems because they are the bedrock of their financial and political power. However, they are also the principal reasons for this corrupt, dysfunctional apology for an international financial system.

IMO, this financial crisis triggered by the Corona Virus, is only in the embryonic stage, but when full blown, it will make the 2008 crisis look like a walk in the park on a warm, balmy sunny day.

The problems are, the central banks have lost control of the markets, coupled with the fact that this current Frankenstein of a financial system has grown so large (probably in excess of TWO QUADRILLION US dollars, that is with a 'Q' when one includes global debt, financial markets, derivatives and future Government liabilities !!) and it is probably well beyond the combined ability of the Central banks’ and the governments to save, unless a gold standard is re-introduced.

The most likely financial scenario may well be one of the following:

  • (1) Do nothing and embrace hyperinflation and the implosion of the current system, with the Puppeteers hoping that they can use the ensuing chaos to tighten their control over the population, a la 1984. But the Chinese-Russian bloc would probably be unhappy.
  • (2) Implement a half-hearted adjustment to the current financial system which may buy some time but will, not address the real issues, so option (1) will probably kick in after a few weeks/months. Again, the Chinese-Russian bloc would probably be unhappy.
  • (3) Implement a more serious adjustment to the current system by adopting a variation of the 1944 Bretton Woods Agreement (a quasi-gold standard). This would buy more time, but does not address the core issues, so eventually, in a few years, option (1) will probably kick in again. The Chinese-Russian bloc may go along in the short term.
  • (4) Abolish the Central banking and Fractional banking systems, introduce sweeping reforms that truly address the root problems facing the current financial system, with Gold playing a central role. That is unlikely to be adopted by the West, at least willingly. However, it is entirely possible that the Chinese-Russian bloc will go their own way and launch a new international financial system that would operate independently of the current US dollar dominated system. In that scenario, it is also possible that they may be joined by some Western nations, creating a global financial/economic schism. Only time will tell.

Regardless of the financial outcome, in any of the above scenarios, gold and silver prices may well rise to extraordinary levels, far higher than most commentators imagine.

Short term, the gold and silver supply chain volumes look likely to decline and possibly dry up, as a result of lock downs of mines and refiners. As investors begin grasp the potential implications of the corona virus fallout in the financial arena, any such disruptions of the gold and silver supply chain should see gold and silver prices rise sharply, along with the share prices of PM miners, locked down or not. However there is always the possibility of:

  • A PM re-set.
  • A closure of financial markets, which would inevitably be followed by a bank holiday, probably globally.

We live in interesting times. It would undoubtedly be preferable if times were less interesting!!

The above must not be construed as investment advice, dyodd.

DeaconBenjamin
Mar 20, 2020 - 9:51pm

New PSA being recorded

Tony Shalhoub as Adrian Monk washing his hands. In the background, Randy Newman singing:

There's a virus out there
Disorder and confusion everywhere
No one seems to care
Well, I do
Hey! Who's in charge here?

There's a virus out there
Poison in the very air we breathe
You know what's in the water that you drink?
Well I do, and it's amazing

People think I'm crazy, 'cause I worry all the time
If you paid attention, you'd be worried too
You better pay attention
Or this world we love so much might just kill you
I could be wrong now, but I don't think so
'Cause there's a virus out there, there's a virus out there

zman
Mar 20, 2020 - 9:46pm

Reset

No, there's not going to be any sort of currency reset. There's a massive shortage of US Dollars and that's why it continues to soar higher. There's a lot of debt that's difficult to service because of the higher US Dollar. Normally, the Fed would flood the globe with Dollars and that problem would go away, but that's not happening at all.

The debt is now backstopped by the Fed so the bondholder doesn't have anything to worry about. Therefore, there's no need to weaken the dollar. The Elite have chosen the deflationary route, there's no inflating the debt away. If they wanted to inflate the debt, they would have done it many years ago, but that have decided to go with massive deflation.

This isn't capitalism, it's corporate fascism. It's debt slavery. It's massive wealth and income inequality.

There isn't any helicopter money coming, we can already see how little crumbs The Elite are willing to throw into the real economy under these current conditions. Yes, the QE will be massive in the months and years ahead, but that's money that goes into bailing out financial companies. That money never enters Main Street.

After the election regardless of who wins, there will be fiscal austerity coming into play with massive spending cuts into SS, Medicare and other social programs.

There's a reason why the CRB Index is at depression levels, there's not going to be much demand coming for commodities down the road. The money will not be there to create that demand and governments aren't going to do much about it.

So no, there's no currency reset coming. What's coming is economic depression, high unemployment, people getting kicked to the streets and people losing big parts of their pensions, SS and Medicare. People are on their own here, there's no white knight bringing money into the equation.

Cash is king here for obvious reasons. It's all about preservation of currency and debt for The Elite. Silver trading at $12 oz is telling the story. Deflationary depression here we come.

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DeaconBenjamin
Mar 20, 2020 - 8:47pm

THE RESET JUST HAPPENED

THE RESET JUST HAPPENED | Gregory Mannarino
lakedweller2
Mar 20, 2020 - 7:30pm

@Canay at the LCS

Look into that"it" and report back.

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