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Turning Hard Times into Good Times
57 minutes | Jan 17, 2023
Searching for Hope in a World Going Mad!
Michael Oliver and Rev. Larry Beane join host Jay Taylor on the last show of Turning Hard Times to Good Times at the Voice America Business Channel. Interviews covering similar themes and guests will be available at JayTaylorMedia.com and at YouTube.com/jaytaylormedia channel every Wednesdays at 3:00 PM ET, starting January 25. The United States expended enormous amounts of blood and treasury to defeat two hellish dictatorships in the 20th century, those being Hitler’s Nazi Germany in World War II and the Marxist dictatorship of the Soviet Union in the Cold War. We thought we defeated the enemy but, lo and behold, “we have met the enemy and he is us.” As Marcus Tullius Cicero said in 58 BC, “A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague.” Gradually the Father of Lies, who is not a human but a spiritual being has snuffed out the light of truth and a desire to know the truth. This traitor from within has weaseled his ways into the hearts and minds of Americans telling us to trust deceptive world leaders who wish to declare themselves in charge of the Universe rather than the God who triggered all of Creation some 14+ billion years ago. Michael Oliver will provide his usual market wisdom to us but he will also share some insights from his book, “The New Libertarianism: Anarcho-Capitalism” to explain how intervention into free markets is leading America toward the same kind of dictatorship that has been far more common than not throughout history. Cicero understood that a “baseness lies deep in the hearts of all men” triggered by the “traitor.” Rev. Beane will help us learn how we can “avoid the traitor” and in so doing enable each of us to live free and joyful lives no matter what darkness may lie ahead in a world seemingly going mad. Michael will talk about his usual findings about what the market is doing and direction he thinks the market is taking.
56 minutes | Jan 10, 2023
Gold Shares & Other Bargains
Kevin Duffy and Patrick Highsmith return as guests. It seems likely that gold and silver miners should have a great year in 2022 given that both metals appear to be in the early days of a new major new bull market as the equity markets continue to descend from extreme overvaluations thanks to insane central bank zero-interest rate policies. As rates rise, true value rises to the top which is why gold and silver are on the rise. So we expect major gold and silver producers to do well along with the likes of Timberline Resources, which is on to a Carlin-style gold discovery in Nevada. Patrick Highsmith will join us to provide an update on that company’s exploration plans in 2023. But while the equity market in general is expected to suffer further declines at least in the first half of 2023, your host is on the lookout for good values in the shares of major companies at bargain basement prices. That’s why Kevin Duffy has been invited to share his thoughts about some bargains in companies that provide essential goods and services that the world always needs. Kevin will share some of the gems he has recently discovered. Also your host plans to share some gold and silver exploration stories that he covers in J Taylor’s Gold Energy & Tech Stocks newsletter and that he has invested his own money in.
56 minutes | Jan 3, 2023
Inflation, recession, and declining US Hegemony
Alasdair Macleod, Michael Oliver & Chen Lin return. Last week Austrian economist Daniel Lacalle assured listeners that the dollar will remain as the world’s reserve currency for at least the next 5 to 10 years. Alasdair may disagree. In his December 22nd article, he states, “2023 will see the consequences of Saudi Arabia ending the petrodollar. Energy exporters are feeling their way towards new commercial arrangements in a bid to replace yesterday’s dollar. There’s talk of a new Asian trade settlement currency. But we can expect oil exports to be offset by inward investment, particularly between Saudi Arabia, the GCC, and China. The most obvious surplus emerging in 2023 is of internationally held dollars, whose use-value is set to drop away leaving it as an empty shell. It amounts to a perfect storm for the dollar, and all those who sail with it. Those of us who live long enough to look back on these years are likely to find them to have been pivotal for both currencies and global alliances. They will likely mark the end of western supremacy and the emergence of a new, Asian economic domination.” If Alasdair is right that doesn’t sound like the dollar will retain its hegemony for the next 5 to 10 years. We look forward to how he responds to Dr. Lacalle’s viewpoint. As always we look forward to hear what markets Chen believes will be ripe for the picking in 2023 and how Michael views the dollar, gold, silver and US Treasuries.
57 minutes | Dec 27, 2022
Why Central Banks Will Choose Recession Over Inflation
Dr. Daniel Lacalle will visit for the first time and Edward Griffin, the author of the prophetic book, “The Creature from Jekyll Island,” will reappear from the replay of the March 24, 2009 episode which was the very first episode of Turning Hard Times into Good Times. Not only did Ed Griffin outline the reasons why he anticipated a decline in the standard of living for Americans but also his ultimate concern that unless we return to an honest monetary system, we Americans are destined to lose our personal freedoms and property rights under an emerging dictatorship. Enabling government to remove freedom and wealth from Americans is the Creature of Jekyll Island aka the Federal Reserve Bank. The American public was sold a bill of goods in 1913 when the Fed was created. We were told that the Fed would eliminate the business cycle which it did. But in its place, it created a credit cycle that has been far worse for average Americans than an old-fashioned business cycle because it has been used to siphon off wealth of the middle classes into the wallets of elite members of American society who enjoy close relations with the federal government. From his 2009 remarks, Ed has provided answers as to why the Fed was created, by whom and why it has been an unmitigated disaster to common Americans but a total success for America’s upper classes. With inflation on the rise and Americas national debt growing exponentially, some analysts fear higher interest rates could trigger a debt-related death spiral for the dollar. But Daniel believes that the Fed and other Central Banks will choose recession over inflation in order to preserve capital and presumably prolong the life of the dollar as the world’s reserve currency. We will ask him to explain why he thinks central banks will now choose the more difficult path of recession rather than to “kick the can down the road” as central banks have always done since gold was removed from the monetary system in in 1971. Given Daniel’s work as a fund manager, we may also ask him for some ideas about how we might protect ourselves from potential harm of a possible 2023 global recession.
58 minutes | Dec 20, 2022
Seeking Shelter from the Impending 2023 Recessionary Storm
Lyn Alden and Michael Oliver are this week’s guests. On December 11 Lyn published an extensive report to her paid subscribers titled “Defensive Assets Deep Dive Analysis.” In that report she provided her macroeconomic views as well and how the markets are likely to respond to them. She also addressed the impact of massive Zero Covid lockdown policies on Chinese and global markets and what an apparent reversal of those policies might mean on global commodity prices if, as expected, global economies stagnate in 2023. What are some of the investment sectors that Lyn thinks will help shelter wealth if we are heading into either the unlikely soft landing in 2023 or a sharp and fearful decline like that of 2008? Will owning gold help? What about cryptocurrencies? In light of the fraudulent FTX disaster and Lyn’s recent address at Princeton University’s DeCenter Inaugural Summit, we will ask her if some cryptocurrencies might be of help in protection in a financial storm. Michael will add his usual insights into key markets like the dollar, bonds, stocks, commodities, and precious metals. Your host may opine on his market views as well as a few of his favorite evolving world class gold and silver exploration stock picks as we look forward to 2023.
57 minutes | Dec 13, 2022
Why Invest in Gold if the Dollar is Strong?
Keith Weiner, Quinton Hennigh and Chen Lin return. Keith Weiner’s Monetary Metals encourages investors to lease or lend their gold or silver to Monetary Metals’ clients in exchange for interest payable in kind. At the same time, Keith makes a very strong case that the dollar will continue to get stronger relative to the Euro, Swiss franc, Japanese yen, Canadian dollar, British pound and Swedish krona. Generally, a strong dollar is viewed as bearish for gold. So why is Keith touting gold ownership at the same time that he takes an exceptionally bullish view on the dollar? We will ask him to explain that as well as why the economics of leasing or lending precious metals work to the advantage of gold borrowers and lessees and what the risk/reward tradeoffs for owners of gold and silver are when they lend or lease their gold through Monetary Metals. You can find out more at https://monetary-metals.com/jay-taylor-media/. Chen will provide his latest views on the markets based in part on his connections with Chinese investors and Quinton will update us on the emerging high margin gold mining assets of Irving Resources and two of its major shareholders, Newmont Corporation and Sumitomo.
54 minutes | Dec 6, 2022
America’s Past and Future with Jeff Deist
Jeff Deist and Michael Oliver return this week. “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are Life, Liberty and the pursuit of Happiness.” Those were the words of the Declaration of Independence as penned by America’s Founding Fathers on July 4, 1776. Holding a common belief that each individual is a unique person created by God and having that in common was a unifying idea that drove the colonists to overthrow the tyrannical King of England. Having witnessed firsthand the tyranny of King George, the Founders understood that governments themselves can become the biggest threat to taking away our God-given right to life, liberty and the pursuit of happiness. And so, our Founders set in place not a democracy, which if unchecked becomes a “mobocracy” but a democratic republic comprised of three branches of government to guard each other branch from becoming so powerful that it denied citizens their God given rights most basic of which is the right to free speech, religion and self-defense. Other safe guards against a tyranny of the majority that were given to us in our Constitution were: 1) An Electoral College vote for President and Vice President, and 2) Two senators from each state, no matter the population size of each state. The Founders also understood that sound money and free markets are essential to domestic peace and economic prosperity. Now, 247 years later, a growing majority of Americans think a dictator President is preferable because dictators can “get things done efficiently.” A growing number of Americans appear not to understand or appreciate the link between the freedom willed to us by our Founders and economic prosperity that inevitably follows. Jeff will discuss where he thinks America is headed in the future given the growing desire to destroy free speech and the judiciary branch of government designed to keep either the executive or legislative branch from excessive power designed to crush minority interest. Michael will share his latest views on the precious metals markets and other key markets.
57 minutes | Nov 29, 2022
The U.S. Has Sold Out the American People
James Rickards and Dr. Quinton Hennigh return. James visits to talk about his latest book titled “Sold Out.” It focuses on broken global supply chains, surging inflation and the fastest rise in interest rates in our history. Add to that a western world that is on the verge of bankruptcy, thanks to overconsumption and under savings since 1971, and you have the potential for a global depression akin to or possibly worse than that of the 1930s. Even prior to Covid and the Ukraine war Rickards predicted that when this current bubble implodes national central banks would themselves become bankrupt and thus give way to the IMF that would replace the U.S. dollar as the world’s reserve currency with the SDR, a unit of currency that would include various currencies and gold. With central banks now losing control of inflation forcing interest rates dramatically higher, Rickards’ prediction that central banks are heading into bankruptcy is indeed coming true. Covid and the war in Ukraine are no doubt accelerating the demise of the existing dollar-based fiat system. How will all these dynamics impact your future investments and what can you best do to protect your financial wellbeing and safety in potentially turbulent times to come? Quinton will also join me to talk about one of the great new silver-tin polymetallic deposits, that being the Iska Iska deposit in Bolivia, where a world class deposit containing well over 100 million ounces of silver plus tin, lead and zinc is currently being outlined by Eloro Resources.
58 minutes | Nov 22, 2022
Bitcoin, Bonds or Gold? Which is the Best Safe Haven?
John Rubino, Michael Oliver and Michael Spreadborough return. The man known as “the Big Short,” Michael Burry, who became famous for foreseeing the 2008 mortgage crisis tweeted the following on November 15: “Long Thought that the time for gold would be when crypto scandals merge into contagion.” History shows that elite members of society who are worshiped as gods can be counted on to lead nations down the path of destruction. John Law of Mississippi Bubble fame comes to mind, but the man who has paved the broad road to destruction for the western world at this time in history is John Maynard Keynes who convinced intellectuals that gold is a useless barbaric relic. And so, for the first time in history, gold was abandoned as money in favor of fiat money which can and has been used as a clandestine vehicle for theft, and thus being used to rip people off in countless scams, the latest one being crypto currencies. Now that both the dollar and crypto currencies are on the road to ruin, a very wise independent thinker, Michael Burry, is suggesting it is time to trade crypto currencies and dollars in for gold which has survived as market selected money for thousands of years. Michael Oliver who has remained agnostic with regard to crypto but who understands gold as honest money will share his thoughts on those key markets and more. John Rubino will provide an autopsy for the Crypto environment and his view of markets as we head into the New Year. Michael Spreadborough will update us on the exploration programs being undertaken by Novo Resources.
57 minutes | Nov 15, 2022
The Mechanics of Fiat Money Destruction
Alasdair Macleod and Quinton Hennigh return. Human beings have been capable of believing, ever since Eve ate the forbidden fruit in the Garden of Eden, that they could be like God simply by obeying, without limit, their hedonistic instincts. The big lie most relevant to this week’s show is the one told by Lord John Maynard Keynes in 1935 when he suggested that societies could become rich by consuming more than they produce. To lend credence to that lie, Keynes required honest, market-driven money, gold, to be replaced by fiat money that is manufactured by debt. What Keynes didn’t reveal (and politicians chose not to know) was that at some point in time, as debt outgrows income, those units of currency become worthless through either the fires of hyperinflation or via national insolvency. Most vulnerable of all, during either an inflationary or deflationary outcome, are banks that have loaded up their balance sheets with the very debt from which fiat money was created. Alasdair will point out the market mechanics which have brought the western world to the precipice of self-destruction. To stay in business these banks have no choice but to unwind debt from their balance sheets resulting in a national collapse of business activity. Judging the history of nations, that will likely result in a reset of our monetary system. We can only hope any new monetary system will be based on gold and/or silver than can lead once again to honest and stable growth. Despite the decline in stocks and bonds this year, gold has held up reasonably well. There are many new gold discoveries from which investors may anticipate major gains over the coming months. World-renown exploration geologist Dr. Quinton Hennigh will share some of his favorite gold and silver exploration investment prospects.
55 minutes | Nov 8, 2022
Is the Fed Resolute in This Game of Chicken?
Doug Noland and Michael Oliver return. The Federal Reserve has led America and the post-1971 world to the brink of global bankruptcy. It has led the world to this brink of disaster by papering over one credit cycle after another. It has never really allowed the deflationary process to completely wash excesses of debt and mal investment of the past so that new healthy balance sheets could reemerge and an age of egalitarian capitalist prosperity could take hold again in America and beyond. Instead, it has reduced short term pain by bailing out failed companies, keeping them on life support, denying productive capital to be employed in creating “economic green shoots.” Crony capitalism has enriched a ruling elite who now uses the powers of government to deny competing ideas out of the public square and honest capital from competing against their monopolies. Given an absence of productive capital, natural laws of economics require a higher rate of interest to reach equilibrium which the Fed has so far reluctantly allowed to take place. But with a return to honest market-driven interest rates, the Zombie companies and the millions of Americans that rely on them for life support are starting to squeal in pan as they plan to charge the Fed with torches and pitchforks. Will the Fed have the resolve to allow natural market forces to prevail or will it chicken out as the elite who created it in the first place applies pressure? Or, owing to the fragility of the existing over-indebted economic system, will an earthquake in the financial markets and economy force the Fed’s hand in either entering an even greater QE or go along with the World Economic Forum in engineering a new global currency that replaces the dollar? No one is more focused on the day-to-day global market dynamics than Doug, so we will ask him for his views on those questions and more. Michael will provide his usual astute momentum and structural analysis of key markets starting with the precious metals.
55 minutes | Nov 1, 2022
New Bull Market for the Gold Sector: Soon
Bob Hoye and Patrick Highsmith return as guests this week and your host Jay Taylor will talk about a company that could become the next huge intrusive gold discovery akin to the evolving 30+ million oz. Snowline Gold Corp. Those of us who have been investing in gold exploration shares have been depressed by the performance of gold and gold shares. Bob Hoye says the bear market in gold exploration stocks is about to end. It has something to do with the credit cycle as well as the “real price of gold.” Bob will explain his thesis which is credible given his track record of several decades. Patrick Highsmith’s Timberline Resources seems to be onto a high-grade Carlin-style gold discovery in Nevada. Although few investors care at all now about gold exploration stocks, ignoring Timberline Resources may be a mistake given its miniscule market cap relative to potential gains given the scale of gold exploration targets and massive scale of geological structures hosting gold mineralization.
55 minutes | Oct 25, 2022
Are Rising Rates Setting a Debt Avalanche in Motion?
Bob Moriarty, Michael Oliver and Chen Lin return. Virtually every time the Fed has started raising rates they continue to raise rates until something breaks. While a portion of the air is left out of the credit bubble that the Fed pops, they never go all the way in letting all the excess air out of those past mal-invested bubbles. Instead, they pile one bubble on top of another such that, over the past 60 years since gold was removed from the dollar, the Fed has created the greatest bubble ever! So when this current bubble is broken it is possible that the financial system will be reset with a new global financial system. That’s because we know from experience that in a globally connected world financial distress in one market in a corner of the world can’t necessarily be kept from spreading. Global markets have been so distorted by the Fed and other central banks that have manipulated interest rates way below their free-market levels that even the smallest interest rate snowflake rise can be the next one to set the entire dollar-based financial system into a destructive avalanche. Bob will provide his insights into current events that may be set to break the system and we will seek his advice regarding how he believes we should prepare. Michael recently wrote that “This was not a controlled adjustment in rates. This is a collapse situation.” We will ask him why he thinks a total collapse of the bond market is a foregone conclusion. Chen who has just returned from travels in Kazakhstan, Turkey and Finland will tell us where he is investing his money during these troubled times.
55 minutes | Oct 18, 2022
How Real is the Threat of Nuclear War?
Daniel McAdams returns to share his insights into the current geopolitical landscape and to comment on the views of Tulsi Gabbard regarding the threat of the Ukraine war morphing into a catastrophic nuclear holocaust. This show has almost always been about the markets and how to best protect your God-given wealth. But as your host was preparing for this week’s show, wealth being gained in the stock and bonds markets rang hollow as he thought about the very real and growing threats of World War III and a growing possibility of a nuclear end of humanity. American news has reminded us almost daily about Putin’s threat to use nuclear weapons to protect Russia against the American-lead NATO empire which he considers an existential threat to Russia’s right to exist as a sovereign nation. That appears to be Putin’s view and so it should not be a surprise that he means what he says when Russia not only reserves the right to use nukes to protect its sovereignty but has changed its laws in preparation to do so. And at least some signs that America is prepared to launch nukes as well is evidenced by a recent advertisement viewed in New York City where a very attractive actor was seen on TV advising New Yorkers to prepare for nuclear war. Because of this very real threat and other anti-Constitutional policies being pushed by the Democrat party, we will replay the words of former Congresswoman Tulsi Gabbard telling why she is leaving the Democrat party and explaining to Joe Rogan how the U.S. has pushed the world to the verge of nuclear war. We hope and pray that this former Hawaiian Congressional Representative is overstating the threat. You listen and you decide. Hopefully we will be able to return to more normal content on October 25.
53 minutes | Oct 11, 2022
Was the BOE’s Pivot a Warning of Things to Come?
Alasdair Macleod, Michael Oliver and Dr. Quinton Hennigh return. On September 28, the Bank of England (BoE) announced it would begin buying the 30-year gilt at a 20-year high yield at above 5% as pensions funds and other institutions were approaching insolvency due to losses on gilt investments. The fear of a liquidity crisis among pension funds caused by rising interest rates prompted the BoE to pivot even though it was expected to raise rates by as much as 1%. Alasdair emailed your host on October 4 stating, “The BoE's action probably was a turning point. Equally it could be claimed that the public discovery that Credit Suisse has issues could have persuaded the Fed that higher interest rates bring forth systemic risks. We may have a clearer idea on 11th when I’m on your show again!” Stock and bond markets rallied hard off of that news but there are no signs of a change of heart at the Fed. In fact, as Adam Taggart opined on this show on Oct. 4th, it is exactly this kind of Pavlovian pivot psychology that Adam Taggart told listeners that Chairman Powell is determined to dismantle from investor thinking. Since the BoE’s action, the Fed and other banks have stood resolutely hawkish, sending U.S. Treasuries' rates higher again while equity prices have cooled. Meantime, the rallies in the price of gold and especially of silver have Michael issuing one of his most bullish declarations in recent memory. Alasdair will be asked for his latest views on the significance of the BoE pivot and Michael will be asked to explain his sudden bullish views on precious metals. Quinton will opine on some spectacular gold assays reported by Lion One Metals.
54 minutes | Oct 4, 2022
Adam Taggart Assesses Global Markets
Adam Taggart and Daniel McAdams returns. Cherie Leeden visits for the first time. Adam Taggart is the founder of the YouTube channel, Wealthion which has 151,000 subscribers and provides very valuable insights from very astute guests in the global financial markets such as Lance Roberts, Sven Henrich, Stephanie Pomboy, Rick Rule, Lyn Alden, Lacy Hunt, Simon Hunt, John Rubino, and Alasdair Macleod, to name just a few. Adam frequently likes to start out his insightful interviews by asking his guests, “What’s your assessment of today’s economy and financial markets?” With Adam having the benefit of sifting through a large number of the smartest and brightest financial analysts in the world, I want to pose that same question to him for his view on that topicm and then seek his advice as to how investors should position themselves accordingly. So much of the global marketplace is impacted by geopolitics and so Daniel McAdams who was the Foreign Affairs Advisor to Presidential candidate Ron Paul will join me to share his views and insights into the reasons for the Ukraine War and rising conflicts between the NATO countries on one hand, Russia and China on the other. Cherie Leeden will join me to introduce a new sponsor to this show, namely Gold Bull Resources, a company with a gold resource of approximately 500,000 ounces with major exploration potential in Nevada. With few people aware of this story, the stock has recently been trading during the bear market in gold of around 5 cents. This is one of your host’s favorite speculative gold stocks.
57 minutes | Sep 27, 2022
Is Inflation Turning Hyper?
Bob Moriarty, Michael Oliver & Quinton Hennigh are this week’s guests. Alasdair Macleod’s September 15 weekly essay was titled “Inflation is Turning Hyper.” Of course, that is nonsense to masses of Americans who put their faith in their god, The Federal Reserve Bank. And indeed, given the Fed’s history in the past, it has kept its foot on the monetary breaks until something very serious is broken that threatens to take the entire system down. Already rich hedge fund managers are warning that is exactly what the Fed will do. On the other hand, the Biden Administration is spending money like drunken sailors and as such working against the Fed’s efforts to reduce inflation. A monetary collapse will most certainly cause prices to fall and perhaps dramatically. But despite these major credit cycles of collapse, debt continues to rise exponentially such that the supply of money is indeed hyperinflating. So how will all these monetary and market dynamics play out? Is Alasdair’s warning of a hyperinflation something to be concerned about? We will ask Bob Moriarty for his views on these issues and perhaps have him to discuss once again the account of how German hyperinflation evolved, documented in “The Money Revelation” by Alfred Lansburgh. Michael Oliver’s views from his technical vantage point will also be sought. Quinton Hennigh is scheduled to provide an update on the evolving gold exploration program in Japan that Irving Resources is teaming up with Newmont Mining to develop.
56 minutes | Sep 20, 2022
An Asian Bretton Woods? Where Does that Leave America?
Alasdair Macleod, Michael Wood & Patrick Highsmith return. The financial war between Russia, with China’s tacit backing on one side, and America and her NATO allies, on the other, has escalated rapidly. It appears that President Putin was thinking several steps ahead when he launched Russia’s attack on Ukraine. We have seen sanctions fail. We have seen Russia achieve record export surpluses. We have seen the ruble become the strongest currency on the foreign exchanges. We are seeing the West enter a new round of European monetary inflation to pay everyone’s energy bills. The euro, yen, and sterling are already collapsing — the dollar will be next. From Putin’s point of view, so far, so good. Russia, has progressed her power over Asian nations, including populous India and Iran, and has persuaded Middle Eastern oil and gas producers that their future lies with Asian markets, not Europe. Russia is subsidizing Asia’s industrial revolution with discounted energy. Thanks to the West’s sanctions, Russia is on its way to confirming Halford Mackinder’s predictions made over a century ago, that Russia is the true geopolitical center of the world. There is one piece in Putin’s jigsaw yet to be put in place: a new currency system to protect Russia and her allies from an approaching western monetary crisis. Alasdair believes and will explain why he thinks Putin is now assembling a new gold-backed, multi-currency system by combining plans for a new Asian trade currency with his new Moscow World Standard for gold. Michael Wood will talk of Reyna Gold Corporation’s emerging gold discovery in Mexico and Patrick is expected to comment on drill results that could launch a share price moonshot for Timberline Resources.
57 minutes | Sep 13, 2022
Supply Chain Disruptions and Inflation
John Rubino, Patrick Highsmith & Michael Oliver are this week’s guests. After the fall of the Soviet Union, the world engaged in global trade on a scale never before in world history. The U.S. entered into this new era by off-shoring major industries in countries with low cost labor. That not only devastated America’s middle class but it also made America extremely vulnerable to China which now produces many life-sustaining products that America no longer produces. America employed fiat (aka, “fake”) money accepted globally, aided and abetted by American military force. Nations like Russia and China took note of America’s global expansion funded with an intrinsically barren dollar and Russia, in particular, became angry with America and NATO having dishonored its promise to a fallen Soviet Union not to add one inch of new territory into NATO. The talk of adding the Ukraine into NATO was line in the sand for Putin who responded by invading Ukraine. Sanctions against Russia gave Putin no choice but to cease selling energy to Europe unless sanctions were removed and energy was paid for in Russian rubles. At a time when hyperinflation is becoming a real possibility, a growing number of European nations are planning to print enough money to pay high prices of shrinking supplies of energy available to Europe. Putin is playing hardball with the West with a desire to get the U.S. out of Europe and to break up NATO. The West will have to accept a monetary stem that is based on tangible assets like energy and gold, or face an economic depression. The choice is only whether it will be a hyperinflationary or a deflationary depression. We will discuss what this all means for the market with John Rubino and Michael Oliver. Patrick Highsmith will update us on Timberline Resources’ Carlin-style gold discovery in Nevada.
54 minutes | Sep 6, 2022
The Money Revelation – How Hyperinflation Takes Root
Bob Moriarty & Quinton Hennigh return. Many things would be better in the world if all educated people knew what “money” is. For not only economic disturbances such as crises, credit crises, and inflation, but also social evils such as a class antagonisms, mass impoverishment, and even political catastrophes such as wars, and revolutions, have their most important roots in the general ignorance of money all too often. Robert Moriarty along with Maik Enders was partly responsible for having a book titled “The Money Revelation” translated from German into English. The book which was written by Alfred Lansburgh, a banker, economist, author, and publicist who passed away in 1937. The book details how the ignorance of well-educated Germans enabled the German hyperinflation to emerge which led to the rise of Hitler and his Nazi party and ultimately to World War II. Unfortunately, Americans and Europeans appear to be as ignorant about money as the Germans were in the 1920s and 1930s. That leaves the West vulnerable to similar economic and political strife as was experienced in Germany in the 1930s and 1940s. The intention of the book was to shed light on how hyperinflation evolves. Arrogant policy makers erroneously think they can avoid a repeat of German hyperinflation. But if they don’t understand what money is, is that even possible? Bob will walk us through the steps that lead to an awful chapter in German history in the hope of helping listeners to be prepared as well as possible for such an outcome in the near future should it come. Quinton will provide an update on an emerging world class, high-grade alkaline gold mine being developed by Lion One Metals.
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