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 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 4/27

4/28 8:30 ET Advance trade in goods
4/28 9:00 ET Case-Shiller home prices
4/29 8:30 ET Q1 GDP first guess
4/29 2:00 ET FOMC Fedlines
4/29 2:30 ET CGP presser
4/30 8:30 ET Pers Inc and Cons Spend
4/30 9:45 ET Chicago PMI
5/1 9:45 ET Markit Manu PMI
5/1 10:00 ET ISM Manu PMI

Key Economic Events Week of 4/20

4/20 8:30 ET Chicago Fed
4/21 10:00 ET Existing home sales
4/23 8:30 ET Weekly jobless claims
4/23 9:45 ET Markit flash PMIs
4/24 8:30 ET Durable Goods