A2A with Chris Martenson

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A tremendous webinar today with Chris Martenson of PeakProsperity.com. Though we had to fight through some audio issues, the information and perspective that Chris shared with everyone is invaluable and demands your attention.

Among the topics addressed today:

  • The Central Bank kabuki theater and the level to which The Bankers are now involved in nearly every market.
  • What Chris learned during his recent stay in Buenos Aires
  • The future of the US dollar, not only in energy transactions but as the world's reserve currency
  • How and why HFT algos now control the "markets"
  • Chris' essential list for preparing for what's ahead
  • And a whole lot more!

Big thanks again to Chris for being so generous with his time today. Our apologies on this end for the audio difficulties which required some editing to the recording.

Thanks for listening,

TF


60 Comments

abguy4's picture

Foist??

raw?appid=YahooMailNeo&ymreqid=a3e237fb-

SteveW's picture

True Gold

Now to listen

Well, silver anyway; not too shabby but shiny, shiny.

AGXIIK's picture

bronze

Toid

RickshawETF's picture

Furth?

Furth?

chudson's picture

Fif

Fifth

cstacey's picture

Great interview

Would have loved to hear him expand on his responses to the last 2 questions of the final 4

Wizdum's picture

Chris is on the ball

thx, turd

Turd Ferguson's picture

This from two hours ago

MODERATOR
JQuest's picture

The "Wipeout Scenario": 250% Losses If VIX Spikes To 20

How much longer can TPTB keep the VIX in the 9's?

It's all such a big Fraud !

http://www.zerohedge.com/news/2017-07-20/nightmare-scenario-quantifying-damage-sudden-vix-spike

RickshawETF's picture

Tales of the Cocktail: The Margarita - A Digression

Before we wrap up the Margarita, we should talk about tequila’s “parent” – Mezcal.  All Tequilas are Mezcals, but all Mezcals are not Tequila.  Tequila is a specialized form of Mezcal, that differs in three important aspects:

  1. It is grown in only three regions of Mexico (Mezcal is produced in 9 regions)
  2. It is made only from blue Weber agave (Mezcal is produced from more than 30 varieties)
  3. It is steamed to soften the piña before fermentation (Mezcal is “baked”)

Mezcal is made from wild agave plants, growing out in the Mexican landscape – not cultivated on extensive agave farms (like Tequila’s Blue Weber Agave).  As with all things wild, there is a different flavor to the mezcal agave.  Not necessarily better, but different.  The real difference in flavor comes from the method of preparing the piña.  Agave is harvested at approx. 8-10 years of age, by removing the entire plant from the ground, hacking off all the leaves with a machete, and leaving the core of the plant, called the “piña”.  It looks sort of like a giant pineapple, hence the name.

Up to this point, Mezcal is no different than Tequila (although incorporating more types of agave), but here the process differentiates the end product.  For Tequila, the piñas are quartered and packed into a warehouse-type room (sort of like a giant sauna), then steamed to break down the piñas and bring up the sugars in preparation for fermentation and distillation.  With Mezcal, the piñas are buried under ground, with charcoal and burning wood, which imparts a decidedly smoky character to the end product.  It’s kind of like drinking a very peaty Scotch – it’s definitely agave spirits, but “wilder”.

Once the piñas are cooked, fermentation converts the sugars into alcohol, and distillation purifies the spirits, removing unwanted particles and flavors.  Now the finished Tequila enters the aging process, which determines whether it will be “Blanco”, “Gold”, “Reposado”, or “Añejo”.

Silver or Blanco Tequilas are clear, with no more than 60 days in stainless steel tanks.  They can be either 100% agave, or mixto. Silver Tequilas are used primarily for mixing, and blend particularly well into fruit-based drinks.

Gold Tequila is unaged silver Tequila that has been colored and flavored with caramel. It is usually a mixto.

Reposado (“rested”) Tequila is aged in wooden tanks or casks for a legal minimum period of at least two months, with the better-quality brands spending three to nine months in wood. It can be either 100% agave, or mixto.  Reposado Tequilas are the best-selling Tequilas in Mexico.

Añejo (“old”) Tequila is aged in wooden barrels (usually old Bourbon barrels) for a minimum of 12 months. The best-quality añejos are aged 18 months to three years for mixtos, and up to four years for 100% agaves.

Mezcal does not enjoy the same differentiation as does Tequila.  Mezcal is basically a blended spirit, with two distinctly higher classifications: “Single Village” and “Pechuga”.  Whereas a blended Mezcal might sell for $30 to $50 per bottle, a “Single Village” designation probably sells for $75 to $100 per bottle.  What you are getting is a more distinctive and unique product, with greater complexity and “terroir” (the French term for a sense of “place”, or origin).

That leaves the “pinnacle” of Mezcal production – “Pechuga”.  A bottle of “Pechuga” will probably set you back around $50 to $250.  When I first read about “Pechuga”, I couldn’t believe it.  Neither could the author of the article, who was beyond skeptical – until he tasted it!  “Pechuga” means “breast” in Spanish, and that is the secret to “Pechuga” Mezcal.  How that first creator figured this one out is beyond me, but how did anybody figure out coffee? (Take these ripe red beans, strip out the green seeds, dry them, roast them, grind them up, drip hot water through the grind, and enjoy!)

So the brilliant “inventor” of “Pechuga” designed his still in such a way (maybe it was already that way) that as the vapors rose to the top of the still, they condensed at a singular point, and dripped straight down from that point.  Below the point from where the condensate dripped, the “inventor” suspended a raw chicken breast in the middle of the still, so all of the condensed alcohol dripped onto the chicken breast, and then into a collection vessel below the chicken breast.

No, I’ve never had “Pechuga”.  (In fact, I’ve seen fewer than a half dozen bottles of the stuff in all my liquor store forays.)  The author of the article describing this method swore that the Mezcal produced in this manner had lost all of its coarseness and rough edges.  It still had character, and way more complexity, but some of the beast had been tamed, and the end product was much more refined – in a good way.  He was blown away by the transformation.

[Note to self: When silver “moonshots”, buy a bottle of “Pechuga” and see what all the hype is about . . .]

[Note to readers: This whole “worm thing” with Mezcal is a joke, a scam, and a fraud! (Where have we heard that before?)  The “worm thing” is used in the cheapest and most vile of Mezcals  - it is solely a marketing ploy to get you to buy a product which, without the worm, would have no appeal whatsoever.  End of story.]

Tomorrow is Friday, and I don’t know about you, but TGIF just calls out for a “perfect” Margarita.  I’ll put my “recipe” out there in plenty of time for you to prepare a tasty libation to toast TEOTGKE – assuming “TE” doesn’t come before then . . .

abundance's picture

Farrell wondering are the banks trading during 'down' times

to cover up for devirative problems

Dr Joseph Farrell 7/20

Jihk2431's picture

I've been following this for awhile now, and I decided to

put up $1,000 long VIX at the 52 week low about a week ago.  I'm down 5% on it, but I look at it as small bet with a big potential pay off should the shorts get squeezed.  From what I've observed, TPTB will allow the VIX to get to around 11 periodically to let some steam off.  I actually think it may be a decent trade to put on and off as this range plays out, but I think it's a good risk adjusted fiat speculation at this point.  If anything, it keeps me focused on what has become a key barometer on market manipulation.

Jihk2431's picture

Craig, great A2A - Chris is such a great thinker and one of the

few people that "get it" from all different angles of life.  I love his last comments regarding emotional resilience and how he's already set himself up mentally to know he will come through what's coming next.  I think most of us are somewhere on the same road, but I thank him for being an example of what can really be accomplished as an individual to make one's life more fulfilling.

RickshawETF's picture

@ Jihk2431

On Chris Martenson's "mental attitude" . . .

In Pining's book recommendation, Deep Survival, one of the characteristics of survivors was that same positive mental attitude that they would [somehow] get through their ordeal -- even when all of those around them succumbed.  Martenson is definitely a "clear thinker", and that was another characteristic of survivors.  They may panic (like everyone else) at the onset, but that is replaced with both a calm and a focus on what is happening, and forming a plan to get through it.

silver10sguy's picture

Great Interview With Much to Ponder

Thanks Turd for a great interview.   I am confident with our gold/silver as the dollar dies.  I am worried about the repercussions as to his energy predictions in the next few years. I was saddened that he thinks President Trump will not make it through 4 years of his term.  I sure hope Chris is wrong with in this case.  

matt_'s picture

Could the algos be responsible for the VIX collapse?

I wonder if there are so many computer programs running trying to squeeze pennies from short term price swings that the computer algos have extracted all the volatility out of the market.

tyberious's picture

Petrodollar Faces Growing

Petrodollar Faces Growing Threat with Payments in Gold across Asia

"The US needs to also restructure its economy to one that is based on production. It can no longer continue to run a debt-serviced economy that imports all goods it doesn’t produce. It’s unsustainable, and the continuous mistake of many. The wealth of the world is shifting eastwards.

The petrodollar is the last vestige of that “American standard of living” middle America cherishes, and if the gold trade bonds fly and yuan changes hands as the oil flows, the US is going to get a shock when Saudi Arabia likes the look of red paper as much as green, or worse yet, yellow metal, a lot of which is moving east."

https://geopolitics.co/2017/07/21/petrodollar-faces-growing-threat-with-payments-in-gold-across-asia/

sengfarmer's picture

matt

That makes sense. So, what could trigger a reset in the algos? There is so much shit piled up on the edge of the abyss, anything could release the cataclysm and down the gurgler it all goes.

OOOBuck's picture

Chris feels US dismissive of China

Maybe not so much.

Here's an interesting example.  China got their first aircraft carrier (if memory serves), as a cast off from Ukraine back in 2011 or so.  They refurbished it over the past few years and smacked it with champagne only in the last year or so.  But here's the thing, they have just launched another, brand new aircraft carrier that they have built from scratch in their own ship yards.  To be sure, the Chinese never do projects like this as' one ofs' or in a small way.  It's my bet that we can expect another half dozen of these floating airstrips by 2020 or so, all fully loaded and inexpensively equipped….but not necessarily cutting edge. 

The US admiralty is already shitting bricks because they can see what's coming.  It explains a lot regarding the conflict over the South China Sea sandbars and land claims.  Just wait until China starts putting this new fleet to sea.  Our admirals are going to hemorrhage major dodo.

Ps. I don’t agree that they’re just steel boxes looking for an excuse to sink.  Carrier fleets are an awesome weapon.

NW VIEW's picture

Babylonian Highway Field Report!

  We were on a short vacation and met up with two posters upon these sites.  Great men to meet.   We then traveled to see Old Faithful and had a great time in the park.  Yesterday, we left the park at the north entrance at Gardiner,  traveled down highway 89 and witnessed how Babylon has invaded the animal kingdom, yep!

   We saw farm after farm, large fields of beautiful green alfalfa and great fences around those fields.  The farmers have worked very hard to grow these crops for their livestock.  However, the cattle were eating the dried grasslands, looking for their daily food supplies. If that steer jumps the fence and eats some of the green goodies of alfalfa, he will be shot and be in the freezer for winter.  It is o.k. if the farmer shoots his steer for jumping the fence and eating his owners crop.  The steer knows to stick with the grasslands.  

 Next we saw, field after field of government owned livestock.  You know deer, elk and antelope.  They have jumped those fences, herds of them, right into that wonderful green alfalfa and having a feast.  Now if the farmer shoots the elk and puts it in the freezer, a fine and a possible jail visit.  The government controlled livestock is free to roam in anyones fields without penalty.   The farmers livestock can only look across the fences, hoping to eat of the green some day but not today.  The government elk think that the farmer has grown the crops for them and will never eat of the grasslands provided to  them as long as they can jump the fences.  

>>>>>>>>>>>>>>>>>>>>>>>>>>>

Psalm 100King James Version (KJV)

100 Make a joyful noise unto the Lord, all ye lands.

2 Serve the Lord with gladness: come before his presence with singing.

3 Know ye that the Lord he is God: it is he that hath made us, and not we ourselves; we are his people, and the sheep of his pasture.

4 Enter into his gates with thanksgiving, and into his courts with praise: be thankful unto him, and bless his name.

5 For the Lord is good; his mercy is everlasting; and his truth endureth to all generations.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

One has come to set us free from man made fences and in the end will be better than a beautiful alfalfa field. 

tyberious's picture

Not mine!

"Banking is not a legitimate industry, providing legitimate service, so long as it continues to be a system of fractional-reserve banking: that is, the fraudulent making of contracts that it is impossible to honor." Rothbard.
An illegitimate business, run by corrupt people, having control of most of our wealth.... using our money to effect regulatory capture and continuance of debt-slavery."

tyberious's picture

Danny B

Hussman,, Pox Americana,,, headlines

A very notorious Spanish banker who ripped off thousands and skated, has come to a sudden end. It was ruled as not homicide.
Notorious Spanish Banker Found Dead With Shotgun Blast To The Chest | Zero Hedge

John P. Hussman, has tried and tried to wake people up to the true state of the markets.
"valuations at current levels are associated with expected returns of about -2.5% annually on a 10-year horizon, and roughly zero on a 12-year horizon. Nearly every market cycle in history has brought these valuation measures back toward their historical norms, "
"The pendulum of speculation has swung far and has grown increasingly grotesque in order to reach this point. It will be a wrecking ball when it returns to earth."
"Speaking of margin debt, Doug Short recently provided this look at investor credit balances and the equity market. The bars (green when positive, red when negative) show the sum of: cash balances in investor cash accounts, plus cash balances in margin accounts, minus the margin debt of investors. To say that investors are “all in” would be an understatement here. They’re leveraged to the gills."
https://www.hussmanfunds.com/wmc/wmc170717b.png

The graph shows this very clearly. But, what about reports that the only buyers for stocks are the companies themselves doing repurchase?
The SNB, BOJ, FED and PBOC ALL report directly buying assets. No idea where the discrepancies come from.
https://www.hussmanfunds.com/wmc/wmc170717.htm
"In any event, the estimate that best fits recent market dynamics would place the critical point in the first week of August, within less than 2% of current levels. Indeed, the 30-day crash probability that we estimate from this particular model is rising vertically, and will continue to do so with every market advance from this point. "
"For my own readers, I’ve offered a great deal of historical evidence, a record of effectiveness in prior complete market cycles"

Since academia, ET AL are operating with flawed models, the mouthpiece of accepted wisdom, The Economist can be expected to give flawed projections. Once in a while they are right.
“The consequence of a very strong dollar is America’s trade deficit will get much much larger.” "The Economist seems to think a falling dollar will help exports. I happen to have a picture showing the results."

Magazine covers tend to coincide with extreme sentiment. The Economist is particularly good at offering contrarian articles.

In December of 2016, The Economist nailed the peak in the US dollar with its “Mighty Dollar” issue.

Let’s now investigate other contrarian covers.
Economist – March 6, 1999 – Drowning in Oil
drowing-in-oil
The economist predicted $5 oil.
Newsweek – April 10, 2009 – Cheap Oil Forever"
"Growing evidence suggests American consumers, businesspeople, and political leaders should all be bracing for double-digit inflation, probably as early as 2009."
Mish goes on to show other blunders by the economic media.
https://mishtalk.com/2017/07/19/migh...nails-the-top/

The State is going broke.They have their collective eye on your cash. Bitcoin included.
https://www.nestmann.com/civil-forfe...b474ff35a3ee64

This is an excellent article on the prospects of Pox Americana trying to maintain control of the world. It's authored by all the top warmongers.
"On the contrary, the Pentagon study’s recommendations call for an intensification of the very imperial policies that futurist Professor Johan Galtung, who accurately forecasted the demise of the USSR, predicts will accelerate the “collapse of the US empire” by around 2020."
https://renegadeinc.com/pentagon-stu...is-collapsing/

7/19 5 charts that prove that the US economy is weakening fast – Gold Republic
7/19 The U.S. stock market is the world’s most expensive – MarketWatch

7/19 IBM stock drops after 21st consecutive revenue decline – CNBC Even the FED can't do unlimited levitation.
7/19 Wall Street’s ‘dean of valuation’ says digital currencies are replacing gold – CNBC
7/19 Ethereum co-founder says crypto coin market is a time-bomb – Bloomberg

7/19 Census snapshot: One million homes left empty across Australia – SMH One million blokes have to live in the pub.

7/19 Coal and nuclear are uneconomic – Think Progress Hopefully, this news will filter down fast to investors.
7/17 Donald Trump approval rating at 70-year low as Russia scandal swirls – Guardian
Globalist Point Man, Paul Rat Ryan, Is Now Less Popular Than President Trump
Hillary Clinton is Less Popular Than President Trump: Poll | Time.com

Senior Member Of Congress - 'Trump Will Be Taken
Out Suddenly And We Can't Stop It'
What does Las Vegas say?

Iran To America: Stop Worrying About Us
Your Government Is About To Collapse

25% Of US Jobs At Risk Of Being Off-shored Under Trump Naturally, it's Trump's fault.
Saudis Mull Cutting Oil Exports By One Million BPD Their wells AND their budget are in BAD shape.
Chicago Lays Off Prosecutors As Bodies Pile Up They laid off 1,000 sheriffs. They need Duterte to straighten things out.

Two Critical After IED Detonates At Canada 7-Eleven
It is undoubtedly those damn Quebecois separatists who are responsible for this.
Rand Paul - GOP Bill Creates Giant Ins Bailout Superfund Ah yes, ZIRP has killed all the funds.

tyberious's picture

Busy calendar Trump is

Busy calendar

Trump is calling for a shutdown of GOV in September.
" the critical point in the first week of August"
October 15, 2017,


Mike Maloney - Why Crash is due August 17, 2017

RED ALERT: The Dollar Will Collapse 100% on AUGUST 2017! Ron Paul Last Warning To America


We also have a crash on labor Day. Valentines day is supposed to be the big crash. California Munis and the eurozone are supposed to crash in the Spring of 2018
“collapse of the US empire” by around 2020."
Armstrong calls for a continuous fall until 2032.

"Catherine Austin Fitts – We Need Our $40 Trillion In Stolen Cash Back "

The crash started a long time ago.
It started when Benjamin Strong (FED head) started illegally selling U.S. Treasury bonds on the secondary market in 1920.
It started when the FED took it upon itself to rescue anything and everything.
It started when various socialist programs from GOV went into deficit spending.

It started when the R.O.W. rebuilt their manufacturing capacity by about the mid '60s.
It started with the inception of the welfare-warfare State.
It started when politicians needed ever-larger budgets to get elected.
It started when the Bretton-Woods agreement gave us an unlimited credit card,,, to pursue either war or peace.

It started with the departure from the gold standard.
It started when academia was held in thrall to State salaries.
It started with the petro-dollar.

JQuest's picture

Hummmm...

Gold and Silver being capped very tight...

Jihk2431's picture

@ Rickshaw - Good observations - applies to parenting too

I am always a better father when, in a the midst of a difficult and emotional situation, I show calm tone, thinking and perspective.

Thanks for your thoughts on this reflection from Chris.

Fred Hayek's picture

One correction -- Trump was never losing

At the 31 minute mark, Chris says that Trump was losing at some point in the evening of the election and then suddenly won.

Um, no.  If you unpacked ANY poll from before the election to a composition that was representative of the electorate then Trump was winning.  Bill Mitchell, on twitter, was leading the way in pointing this out.  In order to put out stories that Mrs. Corrupto was winning, mainstream media outlets had to put together polls with as many as 20% more democrats than republicans and other consciously deceptive strategies.  When you took their info and said, well, gee, in 2000, X% more repubs turned out to the primaries than dems and that was reflected in general election turnout.  And in 2008, Y% more dems turned out to the primaries than repubs and *that* was reflected in general election turnout.  Well, in 2016, repub turnout was way up.  The idea that general election turnout was going to be just like 2008 was laughably and quite knowingly wrong.  When you unpacked conscious and ridiculous bias in these polls you could not get any result except Trump being ahead and winning.  He was winning repubs by essentially the same amount as Sir Edmund was winning dems and every poll I saw even the ones stacked against him said he was winning the independents.  The only way to say that Trump was losing was to pretend that there was even MORE enthusiasm for the dems' steaming pile of defecation of a candidate than there had been for Obama which was patently ridiculous on its face for any number of reasons including the miniscule turnout she had at rallies.  Trump was never behind, not in the last few months of the campaign.  Never.

Wizdum's picture

woah

AGXIIK's picture

JQuest Correctamundo

TPTB have a tighter grip on PMs than OJ had on his chicken

They released the Juice

How about releasing gold and silver.

PMs never murdered anyone

PM prices have served a longer sentence that OJ

Markedtofuture's picture

Leaked Obama Plan To Fight Election-Day Meddling

Leaked Obama Plan To Fight Election-Day Meddling Included 'Martial Law'

“...'armed federal law enforcement agents' who would be deployed to polling places if hackers managed to halt voting... and the deployment of 'Active and Reserve' military forces and members of the National Guard 'upon a request from a federal agency'..."

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