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?

human organism...ex-canary
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 3/1

3/1 9:45 ET Markit Manu PMI
3/2 10:00 ET ISM Manu PMI
3/2 1:00 ET Goon Brainard
3/3 9:45 ET Markit Service PMI
3/3 10:00 ET ISM Service PMI
3/3 12:00 ET Goon Bostic
3/3 2:00 ET Goon Evans
3/4 8:30 ET Unit Labor Costs
3/4 10:00 ET Factory Orders
3/4 12:00 ET Chief Goon Powell
3/5 8:30 ET BLSBS

Key Economic Events Week of 2/22

2/22 10:00 ET LEIII
2/23 9:00 ET Case-Shiller home prices
2/23 10:00 ET CGP at US Senate
2/24 10:00 ET CGP at US House
2/24 1:00 ET Goon Chlamydia speech
2/25 8:30 ET Jobless claims
2/25 8:30 ET Durable goods
2/25 10:30 ET Goon Bullard
2/26 8:30 ET Pers Inc and Spending
2/26 8:30 ET Core inflation
2/26 9:45 ET Chicago PMI
2/26 10:00 ET UMich sentiment

Key Economic Events Week of 2/15

2/17 8:30 ET Retail Sales
2/17 8:30 ET PPI
2/17 9:15 ET Cap Ute and Ind Prod
2/17 10:00 ET Business Inventories
2/17 2:00 ET January FOMC minutes
2/18 8:30 ET Initial jobless claims
2/18 8:30 ET Import price index
2/18 8:30 ET Philly Fed
2/19 9:45 ET Markit Feb flash PMIs

Key Economic Events Week of 2/8

2/8 12:00 ET Goon Mester speech
2/9 10:00 ET JOLTS job openings
2/10 8:30 ET CPI
2/10 10:00 ET Wholesale Inventories
2/10 2:00 ET Chief Goon Powell speech
2/11 8:30 ET Initial jobless claims
2/12 10:00 ET Consumer sentiment

Key Economic Events Week of 2/1

2/1 9:45 ET Markit Manu PMI
2/1 10:00 ET ISM Manu PMI
2/3 8:15 ET ADP employment report
2/3 9:45 ET Markit service PMI
2/3 10:00 ET ISM service PMI
2/4 8:30 ET Productivity & Unit Labor Costs
2/4 10:00 ET Factory orders
2/5 8:30 ET BLSBS

Key Economic Events Week of 1/25

1/26 10:00 ET Consumer Confidence
1/26 1:30 ET Comex option expiration
1/27 8:30 ET Durable Goods
1/27 2:00 ET FOMC Fedlines
1/27 2:30 ET Chief Goon Powell presser
1/28 8:30 ET Q4 GDP first guess
1/29 8:30 ET Personal Income and Spending
1/29 9:45 ET Chicago PMI

Key Economic Events Week of 1/18

1/19 10:00 ET Mother for SecTreas hearing
1/20 12:00 ET POTUS Inauguration
1/21 ECB meeting and rate decision
1/21 8:30 ET Housing Starts
1/21 8:30 ET Philly Fed
1/22 9:45 ET Markit flash PMIs (Jan)

Key Economic Events Week of 1/11

1/11 12:00 ET Goon Bostic speech
1/12 10:00 ET JOLTS job openings
1/13 8:30 ET CPI
1/13 1:00 ET Goon Brainard speech
1/13 2:00 ET Beige Book
1/14 8:30 ET Import price index
1/14 12:30 ET Chief Goon Powell
1/15 8:30 ET Retail Sales
1/15 8:30 ET PPI
1/15 9:15 ET Cap Ute and Ind Prod
1/15 10:00 ET Business Inventories

Key Economic Events Week of 1/4

1/4 9:45 ET Markit manu PMI
1/4 10:00 ET Construction Spending
1/5 Georgia U.S. Senate election
1/5 10:00 ET ISM manu PMI
1/6 US election certification
1/6 8:15 ET ADP Employment Report
1/6 9:45 ET Markit service PMI
1/6 10:00 ET Factory Orders
1/6 2:00 ET December FOMC minutes
1/7 8:30 ET Trade Deficit
1/7 10:00 ET ISM service PMI
1/8 8:30 ET BLSBS
1/8 8:30 ET Wholesale Inventories

Key Economic Events Week of 12/21

12/21 8:30 ET Chicago Fed
12/22 8:30 ET Q3 GDP final guess
12/22 10:00 ET Consumer Confidence
12/23 8:30 ET Durable Goods
12/23 8:30 ET Personal Inc and Spending
12/23 8:30 ET Core Inflation

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