A2A with Jeff Berwick of The Dollar Vigilante

100

We welcomed a new guest to A2A this week, Jeff Berwick of The Dollar Vigilante, for a wide-ranging discussion of centered around the ongoing collapse of the global financial system the end of The Great Keynesian Experiment.

Listeners will quickly realize that, unbeknownst to Jeff, he's a Turdite at heart! Much of what we discuss in this podcast and what he covers at The Dollar Vigilante is right along the lines of the focus of TFMR. Namely, The End of the Great Keynesian Experiment is upon us and we all need to prepare accordingly. To that end, some of the topics covered include:

  • the current state of the financial system, including Brexit and DB
  • the value of owning physical gold and silver
  • the rationale behind holding Bitcoin and other crypto-currencies
  • the idea of Shemitah and Debt Jubilee
  • and much, much more.

It was great to get to know Jeff and I'm confident that you'll enjoy listening to this podcast.

TF

  100 Comments

Rakka
Oct 6, 2016 - 2:22pm

1st in Japan

Ohayo Boys

Goldmatters
Oct 6, 2016 - 2:28pm

Thanks for this Turd!

Thanks for this Turd!

Marcrward
Oct 6, 2016 - 2:38pm

Thurd

Turd said it! That makes Micro Mining a thing right?

Now just need to mine.

At crowdfunding conference now... these people have no idea TEOTGKE is upon us.

SilveryBlue
Oct 6, 2016 - 2:41pm

4th?

Sorry Marchas

LostMind
Oct 6, 2016 - 3:01pm

Fifth..

Galt's Gulch a bust.... To shemitah or not to shemitah, that's the real question...

forever20
Oct 6, 2016 - 3:06pm

Shem 6

Podcast

ArtL
Oct 6, 2016 - 3:53pm

lucky 7?

remember to read Jim Willie's latest!

canary
Oct 6, 2016 - 3:58pm

And why did Stanley Fisher shedule himself to talk...

right after the BIS report?...Perhaps to be sure that nothing bad happens to the Market, between Now and Now 8th, regardless of the employment numbers?.

mike97
Oct 6, 2016 - 4:00pm

@flipper22

"My understanding of what JW is saying:

China wants to buy DB paper long gold book but instead TPTB are dumping the DB paper longs onto the market this week (while China is closed) to keep China from getting the paper gold and requesting physical delivery.

Do I have his (JW) thoughts correct here? It sure makes sense."

From what I have been reading TPTB are saying multiple hedge funds are bailing on their long positions. This makes no sense when gold should soar after the BLBS tomorrow. I think your/JimWillie idea makes a lot of sense.

pauleberhart
Oct 6, 2016 - 4:15pm

1. If governments can't

1. If governments can't confiscate bitcoin, can't they just buy all of it an not release it to the market, or force any card manufactured with a wic or nic to hardcode a mac to tax it?

2. How does bitcoin stand the "test of time"...So far it is just currency, and all currency (fiat) can fail...money holds value over time...what is time to bitcoin?

sorry in advance if more q's come to me as I listen...

AIJ mike97
Oct 6, 2016 - 4:29pm

DB paper longs

Maybe the Chinese are the buyers?? or an agent of them??

Clarki Stomias
Oct 6, 2016 - 4:31pm
AIJ
Oct 6, 2016 - 4:37pm

And then there is Bitcoin

Yawn......that's a good thing....

benque
Oct 6, 2016 - 4:39pm

One day the berskank

will dump tons of $100 bills from his helicopter, and no one will care....but he'll be heavily fined for littering.

tyberious
Oct 6, 2016 - 4:41pm

Great interview! Thanks Jeff

Great interview!

Thanks Jeff and Turd.

AIJ
Oct 6, 2016 - 4:44pm

We should have seen this one coming...

  • Ubiquitous Rickards is traveling the world proclaiming the SDR
  • Writing book after book on Gold
  • Warning the SDR date of Oct 1st
  • TPTB licking their chops on the potential
  • Congratulations Jim you are:
    • A very devious person
    • A very useful dunce

Bo Polny hall of Shame has another member......

The good news is, we are probably close to the end of this nonsense.

I'm glad I didn't load up much for this big rinse....

I'm glad I concentrated on Bitcoin the last 6 months.

Langley boys hit the BTC, I need more......

Wizdum
Oct 6, 2016 - 4:59pm

If you were China...

...would you not have figured out how to buy/sell even when your house is closed?

BillD
Oct 6, 2016 - 5:21pm

FWIW .... BITCOIN

Just kinda coasted thru this gold beatdown... up a couple of bucks to $611 or so... lol

cool

Antony von Clearwell
Oct 6, 2016 - 5:25pm

China

If I were China and I couldn't get the paper longs of DB (as assumed) but I still wanted to have 'it' I'd not level the SGE to the comex's on the open, but slowly lower it to the then ruling spot price. Arbitrage will then take care of it. Minor side effect could be that offloading dollars as such the euro will strengthen a bit which will help in raising eurodollars which will help db which China wants to preserve.... Also yuan will strengthen a bit which then allows to be weaken a bit more. That's good for gdp.

Or they don't care and prices level instantaneously. In that case they might have different plans. Remember that the chinese are patient.

Or they open where they closed and leave it at that level. In that case it will be over soon!

Thoughts, just thoughts. Most probably very wrong as I do not understand any of this crap going on :)

However for us mere mortals:

The only way not to lose is not to play. - Joshua, wopr, war games, 198x

And: let's get physical, physical, phisycaaaaal... - Olivia newton john, also 80-s?

BillD
Oct 6, 2016 - 5:29pm

China... the thing is...

China could be the one buying up all of the DB gold longs as the price drops... still may end up owning 'um and could go for delivery? cool

Somebody is buying them and prolly good to get them out of the hands of DB and into some kind of a market ... lol

AIJ
Oct 6, 2016 - 5:31pm
CaptainDanite
Oct 6, 2016 - 5:33pm

Rickards' "Prediction"

I have no intention to speak in defense of Jim Rickards -- both because I am very much among those who a) don't entirely trust him, and b) I believe he is, above all, most interested in selling newsletter subscriptions and books. That said, I think a careful review of everything he wrote and said (in various Agora videos and other interviews) in advance of September 30th reveals how carefully and deliberately he measured/parsed his words regarding what he was predicting in relation to the RMB inclusion into the SDR (as well as the notion of the Russians undertaking a cyber attack of the US financial system). Rickards did not emphatically predict that such and such and/or so and so were going to occur on 9/30 or 10/1. Rather, he was more or less suggesting that, years down the road, people will look back to 10/1/2016 as being the beginning of the end of the global reserve currency status of the US dollar.

In any case, that is how I interpreted his words, notwithstanding the fact that he promoted the whole thing in such a way that the casual observer would be inclined to believe he was making some unprecedentedly bold prediction -- and in so doing he hoped to lure people into signing up for his IMPACT trading newsletter that purports (as I understand it) to make one filthy rich trading options (primarily) on global currency fluctuations.

One other thing about which I have become convinced regarding Rickards: I don't believe he is anywhere near the "connected insider" he likes to pretend to be. If he does, in fact, have connections with "powerful people" in the CIA and the Pentagon, I suspect it is only because he is unwittingly serving as one of their many "useful idiots" in sowing cunningly conceived propaganda among those who hang on his every word. In particular, he seems to be aggressively advancing the notion that the "evil Russkies" are engaged in financial cyber warfare against the United States. Are they? Perhaps. But I am more certain that the United States is engaged in highly aggressive financial cyber warfare (and other forms of espionage) against the Russians, the Chinese, and virtually every other country in the world -- including our own allies.

StevenBHorse
Oct 6, 2016 - 6:00pm

DB

Poppycock.

More likely scenario.

DB is SHORT COMEX gold futures, and convinced other members of the club to help take price lower so they could generate some short term trading profits, to offset against the removal of funds by their large hedge fund clients.

Explain to me mechanically how China is going to "buy" their gold longs? It's not like they can just be transmitted instantly over internet through a fucking email. There is a whole system that they need to go through to have the assets transferred. A cross border transfer would likely take even more time. It's not like you are rolling an IRA from Fidelity to Schwab. Even those take a few days. An asset transfer like the one in question would take at least a week, but more likely 2-3 weeks.

BillD
Oct 6, 2016 - 6:49pm

Physical is not involved

If (and I say if) DB is selling "long paper gold Options".... someone is buying them.... Physical only get involved when someone exercises the option and wants physical delivery (or cash settlement).... Jeeezeee

Someone sure as hell is selling them...

Dr. P. Metals
Oct 6, 2016 - 6:50pm

Don't think DB is involved

its just a smash a) because they can, or b) because there will be a rise shortly they wanted to contain.

benque
Oct 6, 2016 - 7:02pm

But PBOC does own a very large vault

accross the street from fed NY, and within spitting distance of crimex. I do believe their NY office can function when China is on holidays, and is very well funded....as well as their accounts with morgue, mocata, etc.

Dr. P. Metals
Oct 6, 2016 - 7:05pm

I think the vault

is for use "after" the crash/reset...?

Fred Hayek
Oct 6, 2016 - 7:13pm

Just bought some silver through turdmart precious metals store

Thanks for the discount, asshole central bankers.

Texas Sandman
Oct 6, 2016 - 7:20pm

gbp?!

WTF just happened to gbp? At first I thought it was just a bad tick, but GBPJPY and GBPUSD seem to have just collapsed hundreds of pips?!

Did it in a heartbeat like some horrendous news. But I can't find any...

Fred Hayek
Oct 6, 2016 - 7:26pm
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