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 11/30

11/30 9:45 ET Chicago PMI
12/1 9:45 ET Markit Manu PMI Nov
12/1 10:00 ET ISM Manu PMI Nov
12/2 8:15 ET ADP Employment Report
12/3 9:45 ET Markit Services PMI Nov
12/3 10:00 ET ISM Services PMI Nov
12/4 8:30 ET BLSBS
12/4 8:30 ET US Trade Deficit Nov
12/4 10:00 ET Factory Orders

Key Economic Events Week of 11/23

11/23 9:45 ET Markit flash PMIs
11/23 1:00 ET Goon Daly
11/23 3:00 ET Goon Evans
11/24 9:00 ET Case-Shiller home prices
11/24 10:00 ET Consumer Confidence
11/24 11:00 ET Goon Bullard
11/24 12:00 ET Goon Williams
11/24 12:45 ET Goon Chlamydia
11/25 8:30 ET Q3 GDP 2nd guess
11/25 8:30 ET Durable Goods
11/25 10:00 ET Personal Inc and Spend
11/25 10:00 ET Core inflation
11/26 US Market holiday

Key Economic Events Week of 11/16

11/16 2:00 pm ET Goon Chlamydia
11/17 8:30 ET Retail Sales
11/17 8:30 ET Import Price Index
11/17 9:15 ET Cap Ute and Ind Prod
11/17 10:00 ET Business Inventories
11/17 1:00 pm ET Chief Goon Powell
11/18 8:30 ET Housing Starts
11/18 1:20 pm ET Goon Bullard
11/19 8:30 ET Jobless claims
11/19 8:30 ET Philly Fed

Key Economic Events Week of 11/9

11/9 1:30 pm ET Goon Mester
11/10 7:30 am ET Goon Kaplan
11/10 10:00 ET JOLTS job openings
11/10 10:00 ET Goon Rosengren
11/11 Veteran's Day. Bond market closed.
11/12 8:30 ET CPI
11/12 11:45 ET Chief Goon Powell
11/12 2:00 pm ET Federal budget
11/13 7:00 ET Goon Williams
11/13 8:30 ET PPI
11/13 8:30 ET Goon Bullard
11/13 10:00 ET Consumer sentiment

Key Economic Events Week of 11/2

11/2 9:45 ET Markit Manu PMI
11/2 10:00 ET ISM Manu PMI
11/2 10:00 ET Construction Spending
11/3 U.S. Election Day
11/4 November FOMC begins
11/4 8:30 ET ADP jobs report
11/4 8:30 ET US Trade Deficit
11/4 9:45 ET Markit Services PMI
11/4 10:00 ET ISM Services PMI
11/5 8:30 ET Productivity & Unit Labor Costs
11/5 2:00 ET FOMC Fedlines
11/5 2:30 ET Chief Goon Powell presser
11/6 8:30 ET BLSBS
11/6 10:00 ET Wholesale Inventories

Key Economic Events Week of 10/26

10/27 8:30 ET Durable Goods
10/27 10:00 ET Case-Shiller home prices
10/27 10:00 ET Consumer Confidence
10/27 10:00 ET Richmond Fed
10/28 8:30 ET Advance Trade in Goods
10/28 8:30 ET Wholesale Inventories
10/29 8:00 ET ECB monetary policy stmt
10/29 8:30 ET Q3 GDP first guess
10/30 8:30 ET Personal Income and Spending
10/30 8:30 ET Core Inflation
10/30 10:00 ET UMich Consmer Sentiment

Key Economic Events Week of 10/19

10/19 11:45 ET Goon Chlamydia
10/20 8:30 ET Housing Starts
10/20 1:00 pm ET Goon Evans
10/21 10:00 ET Goon Mester
10/21 2:00 pm ET Fed Beige Book
10/22 8:30 ET Initial Jobless Claims
10/23 9:45 ET Markit Oct flash PMIs

Key Economic Events Week of 10/12

10/13 8:30 ET CPI and Core CPI
10/14 8:30 ET PPI
10/14 9:00 ET Goon Chlamydia
10/15 8:30 ET Philly Fed
10/15 8:30 ET Empire State Idx
10/15 8:30 ET Import Price Idx
10/16 8:30 ET Retail Sales
10/16 9:15 ET Cap Ute & Ind Prod
10/16 10:00 ET Business Inv

Key Economic Events Week of 10/5

10/5 9:45 ET Markit Svc PMI
10/5 10:00 ET ISM Svc PMI
10/5 10:45 ET Goon Evans
10/6 8:30 ET Trade Deficit
10/6 10:00 ET JOLTS job openings
10/6 10:45 ET Chief Goon Powell
10/7 2:00 ET Sept FOMC minutes
10/7 3:00 ET Goon Williams
10/8 8:30 ET Initial jobless claims
10/9 10:00 ET Wholesale Inventories
10/9 12:10 ET Goon Rosengren

Key Economic Events Week of 9/28

9/29 8:30 ET Advance trade in goods
9/29 9:00 ET Case-Shiller home prices
9/29 10:00 ET Consumer Confidence
9/30 8:15 ET ADP employment report
9/30 9:45 ET Chicago PMI
10/1 8:30 ET Personal Income and Spending
10/1 8:30 ET Core Inflation
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/2 8:30 ET BLSBS
10/2 10:00 ET Factory Orders

Forum Discussion

by Spartacus Rex, Dec 4, 2020 - 10:57pm
by Spartacus Rex, Dec 4, 2020 - 10:52pm
by ancientmoney, Dec 4, 2020 - 2:33pm