Thursday Conversation - John Rubino


What a pleasure to bring in John Rubino for a Thursday Conversation. You're definitely going to want to carve out some time for this podcast.

John is a renowned author of several books as well as the publisher of the terrific website Dollar Collapse. He's an expert in the field of sound money and precious metals so it was great to get his opinion on:

  • Where we stand as we close the decade. Are fiat currencies collapsing and what options are available to central banks and governments as they attempt to manage the impending crisis?
  • What does John expect from the precious metals in 2020 and how does seasonality of pricing impact his forecast?
  • How do the mining shares fit into the investment equation and what does John expect in 2020?

We also re-introduce "the final four" after a long absence so please be sure to give this podcast a listen all the way through the end.

Thanks again to John for his time today and please be sure to add Dollar Collapse to your favorites list.



Dec 6, 2019 - 4:25pm

Be very, very afraid . . .

For new-timers on this site, one of my all-time favorite quotes is from Ralph Gleason, who used to write for Rolling Stone Magazine:

"No matter how paranoid you are, they're doing more than you think they are . . . "

So, all of Turdville is giddy over the prospect of $20-25 silver, and what it will do to their portfolios (equities, options, and physical metal hoard)? Your focus should be not on what the price of PMs will do to your wealth, but what the government will do to your wealth!

Some examples:

1. Nationalization of all precious metals mines in the U.S.

2. Confiscation of all precious metals, including jewelry and silverware.

3. A 100% Speculators Tax on those individuals who make investment profits in precious metals producers (equities and options).

4. "Rescues" of your 401(k)'s, IRA's, etc. [by moving] your assets into U.S. Treasury bills.

5. Bail-ins of your savings located in banks ("And, it's gone.").

6. Capital controls, including prevention of moving any assets across the U.S. Borders (that means you, Bitcoin!).

There could easily be a penalty of a $100,000 fine and 20 years in Federal prison for any violations.

And, unlike Robert De Niro, you don't hold a diplomatic passport . . .

"De Niro’s third passport is from the Caribbean island nation of Antigua. Even more specifically, De Niro holds a Diplomatic Passport from Antigua with the title of ‘Special Envoy’.

And because of his diplomatic credentials, De Niro is entitled to a great deal of special privileges and amenities that even movie stars don’t normally receive.

Based on the 1969 United Nations Convention of Special Missions, special envoys like Robert De Niro are eligible to receive tons of travel benefits.

Diplomats always skip the line at airports. And under Article 26 of the convention agreement, it’s illegal for foreign customs officials to search a special envoy’s bags.

Then there’s diplomatic immunity; a special envoy “immunity from the criminal jurisdiction” of the foreign country where he is carrying out his duties. And his residence/office are protected as if they were the soil of a sovereign nation.

And if all that weren’t enough, the 1969 United Nations Convention on Special Missions even includes a host of tax benefits; special envoys are eligible for exemption of income tax, social security tax, and customs duties."

Dec 6, 2019 - 3:02pm

Fiscal austerity

"senate democrats gop back automatic austerity bill would gut social programs"

S2765 is going to tie social spending with deficits. That's right, there's never going to be $2 trillion deficits ever again, the cuts will be automatic.

This idea that the Fed would print money to fund the peasants is NEVER going to happen. We're going to 0% or negative rates and inflation can never get going. The key is to control money that actually enters the real economy. Massive cuts to social programs does the trick.

Does any see that the velocity of money is heading even lower again? That the monetary base is down over -25% in the past 5 years? That's why metals and commodities are down in the dumps.

Dec 6, 2019 - 10:04am

Happy camper

Thank for that expert advice.

I do not Expect PMs to make me wealthy but I Know they will keep us from being broke!

What do you suggest?

Dec 6, 2019 - 9:54am

Little optimism?

USD is higher...but not overly enthusiastic.

Dec 6, 2019 - 9:54am

@Banana Republic

As long as the Federal Government and the People prefer corruption over the Rule of Law, nothing changes.

Dec 6, 2019 - 9:47am

What the Heck!

Taking a beating this morning on all those good "jobs".

"What a sham and a scam!"--Turd

Dec 6, 2019 - 9:45am

schedule update

I've got a guy stopping by the house at 9:00 am CT

I hope to have a post recapping the utter BS of the BLSBS by 10:00 am or so

Dec 6, 2019 - 9:42am

Silver bouncing along its

Silver bouncing along its support zone at the moment - suspect there is a huge amount of bullion bank short covering happening into spec selling at this moment in time.

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Dec 6, 2019 - 9:34am

Narrative changing?

Will be interested to see David Rosenberg's analysis -- not finding his tweets since he is apparently working from his own or a different firm. We need to consider the possibility that global economy is bottoming and an upturn is beginning -- even if it is weak -- given green shoots Canary mentions that we're seeing.

However, today's numbers may embolden Trump to dig in his heels even more and refuse to give in to Chinese demand to eliminate tarrifs in place and cancel those due to take effect on Dec. 15.

Ben Stackin
Dec 6, 2019 - 9:30am

Miners gonna get clubbed like baby seals at the open

shift funds into the stock market, not the stack market sez the brain trust on CNBS.

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Key Economic Events Week of 9/21

9/21 8:00 ET Goon Kaplan
9/21 10:00 ET Goon Evans
9/21 Noon ET Goon Brainard
9/21 6:00 pm ET Goon Williams & Goon Bostic
9/22 10:30 ET Chief Goon Powell on Capitol Hill
9/22 Noon ET Goon Barkin
9/22 3:00 pm ET Goon Bostic again
9/23 9:00 ET Goon Mester
9/23 9:45 ET Markit flash PMIs for September
9/23 10:00 ET Chief Goon Powell on Capitol Hill
9/23 11:00 ET Goon Evans again
9/23 Noon ET Goon Rosengren
9/24 1:00 pm ET Goon Bostic #3
9/24 2:00 pm ET Goon Quarles
9/24 10:00 ET Chief Goon Powell on Capitol Hill
9/24 Noon ET Goon Bullard
9/24 1:00 pm ET Goon Barkin again & Goon Evans #3
9/24 2:00 pm ET Goon Bostic #4
9/25 8:30 ET Durable Goods
9/25 11:00 ET Goon Evans #4
9/25 3:00 pm ET Goon Williams again

Key Economic Events Week of 9/14

9/15 8:30 ET Empire State and Import Price Idx
9/15 9:15 ET Cap Ute and Ind Prod
9/16 8:30 ET Retail Sales
9/16 10:00 ET Business Inventories
9/16 2:00 ET FOMC Fedlines
9/16 2:30 ET Powell Presser
9/17 8:30 ET Philly Fed
9/18 8:30 ET Current Acct Deficit

Key Economic Events Week of 9/7

9/9 10:00 ET JOLTS job openings
9/10 8:30 ET Initial jobless claims
9/10 8:30 ET PPI
9/10 10:00 ET Wholesale Inventories
9/11 8:30 ET CPI
9/11 9:45 ET Core CPI

Key Economic Events Week of 8/31

9/1 9:45 ET Markit Manu Index
9/1 10:00 ET ISM Manu Index
9/1 10:00 ET Construction Spending
9/2 8:15 ET ADP employment
9/2 10:00 ET Goon Williams
9/2 10:00 ET Factory Orders
9/3 8:30 ET Initial jobless claims
9/3 8:30 ET Trade Deficit
9/3 12:30 ET Goon Evans
9/4 8:30 ET BLSBS

Key Economic Events Week of 8/24

8/24 8:30 ET Chicago Fed Idx
8/25 10:00 ET Consumer Confidence
8/26 8:30 ET Durable Goods
8/27 8:30 ET Q2 GDP 2nd guess
8/27 9:10 ET Chief Goon Powell Jackson Hole
8/28 8:30 ET Pers Inc and Consumer Spend
8/28 8:30 ET Core Inflation
8/28 9:45 ET Chicago PMI

Key Economic Events Week of 8/17

8/17 8:30 ET Empire State Manu Idx
8/17 Noon ET Goon Bostic
8/18 8:30 ET Housing Starts
8/19 2:00 pm ET July FOMC minutes
8/20 8:30 ET Jobless claims
8/20 8:30 ET Philly Fed
8/20 10:00 ET LEIII
8/21 9:45 ET Markit flash PMIs July

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
7/31 8:30 ET Personal Income and Spending
7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

Key Economic Events Week of 7/20

7/21 8:30 ET Chicago Fed
7/21 2:00 ET Senate vote on Judy Shelton
7/22 10:00 ET Existing home sales
7/23 8:30 ET Jobless claims
7/23 10:00 ET Leading Economic Indicators
7/24 9:45 ET Markit flash PMIs for July

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