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Jim Sinclair and Bill Holter - 'On verge of collapse, Gold 20K+ coming'

Greg Hunter USAWatchdog

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#11 dougie

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Posted 28 August 2018 - 12:34 AM

but i thought pessimists were shown to be happier and healthier?



#12 flyers&divers

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Posted 02 September 2018 - 07:49 PM

I watched it for a while. Those two are smart people but they understand how the paper PM markets, futures, work.

If the armagedon comes, as it will one day, one won't be able to go around in the neighborhoods with rolls of gold coins. It will be too dangerous. There is a relatively well oiled mechanism, the futures markets where one could shift one's assets back and forth between different trading mediums and cash in or spirit it out of the country before the final curtain falls. In those conditions no one in government will be able to cobble together a new system that is better then the current one.

 

I wonder how traders in Argentina cope today, I would guess traders at least have a way to use their tools to beat inflation.

Please chime in if you have knowledge or experience trading financial instruments in Argentina, or in similar conditions.

 

Cheers, F&D


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#13 Rich C

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Posted 03 September 2018 - 08:45 AM

My problem with the "gloom and doom'ers" is that they over-sensationalize.  Most of them are trying to sell a book, or put fannies in seats at their next big "how to save yourself from the coming conflagration".  They tend to be self serving.  Once in a while they get it right, several correctly predicted the financial crisis of 2008, Peter Schiff called it correctly well in advance, as did Nouriel Roubini.  Problem is neither has been accurate since then.

 

To say that I don't respect the two at the top of this topic does not mean that I don't think there is a problem looming out there.  I agree that unlimited money printing eventually will cause problems for our nation.  I expect it will be more of a "slow roll" in, and its effects will be negative, but they may not necessarily be felt for 5 or 10 years.  People will notice "something is wrong", my father used to be able to buy a camp house on the lake, had a nice boat on a trailer, and send his kids to state college, and Mom was not even working.  Then even with a second income, some 30 years later, we can't afford a camp, or to send our kids to college without taking on massive debt.  What happened?

 

I suspect it will be inflation and higher interest rates, bad for consumers and bad for business.  I just don't think it will be a collapse.  I think our standard of living may change over time, for the worse.


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#14 SemiBizz

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Posted 03 September 2018 - 10:12 AM

See that doesn't foot... what you said is that a family used to be able to have all these "things" on a single income without incurring massive debt to get them...  Now it takes 2 incomes and a pile of debt to amass the same assets and expenditures...

 

Which says to me, they can't afford them.

 

How do you get inflation out of that?  Interest rates are rising, when rates rise, we cut a significant portion of demand as people realize they can't afford "things", furthermore that they can't pay for the debt service they are enslaved in now... which leads to asset disposal, which takes prices down even further...

 

Interest rates are not rising because of "demand pull" like the 70s.  Rates are going up because the bankers just padding them higher, looking for some kind of incremental higher rate they can lower from in the next "event", which seems inevitable given the amount of crushing debt Worldwide.

 

See, if we lived in a normal situation, these Wall Street bankers would never have been bailed out and sent to jail instead for their criminal mortgage financing activities during the Clinton/Bush ramp in housing...

 

Instead we bailed them out and put everyone in the World in debt to save those hapless Wall Street asses. 

 

No, it's not inflation we are headed for - it is deflation.

 

Which part of this argument don't people understand... the Central bankers have tried to "create" inflation for 30 years, with Greenspan even pointing to the gold price as some sign of inflation... as if gold drives it, which is ridiculous.

 

They need inflation to make their "fractional banking" scheme work... all that got undone when Hank Paulsen threatened to end the World and the governments caved instead of letting a natural process restore fiscal sanity.

 

Now there are some places that are going to suffer inflation, like Argentina, Indonesia, Brazil, Turkey etc., mostly because of currency debasement, we've already seen what happened in Venezuela, but the price of gold in dollars is doing what?  Declining...  And gold is priced in US$.  So if you own gold in those countries it is a US $ PROXY... and makes sense.

 

If your assets are already US$ based, you are not wise to buy gold at these levels IMO... wait for better prices because in the end, the global liquidation and debt reset that is underway will capture all assets.

 

The reason a family cannot afford all those "things" mentioned is simple... PRICES ARE TOO HIGH... So a reset is coming... DEFLATION.


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#15 SemiBizz

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Posted 03 September 2018 - 10:45 AM

Desperate Parties do stupid things...

 

Turkish Central bank pledges policy action to stem inflation

Turkey’s central bank signaled higher interest rates are in the offing after inflation rose more than forecast in August and producer prices surged.

The lira briefly erased losses after the announcement.

“The monetary stance will be adjusted at the September monetary policy committee meeting in view of the latest developments,” the central bank said in a statement, citing the deterioration in the inflation outlook.

Monetary policy makers tipped their hand 10 days before they are scheduled to meet after new data showed prices rising at the fastest in 15 years as the run on the lira takes a toll on consumers. Inflation accelerated a surprising 17.9% last month and producer prices climbed more than 32%, Turkstat reported on Monday.

 

By signaling a hike, the bank has also created expectations that the increase will be big enough to stem the rise in inflation, according to Piotr Matys, a currency strategist at Rabobank in London.

 

 

 

Does anyone think that putting rates up a point or two will attract money when the currency is vaporizing and Turkey just a thread away from economic collapse - starting in the guts of it... the banks rofl.gif 

 

See, these gold dudes are targeting the wrong audience, they need to hire a bunch of translators quick, they could make a fortune in these collapsing countries...


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#16 SemiBizz

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Posted 03 September 2018 - 10:54 AM

Is this the new path to smaller governments?  rofl.gif

 

Argentina Peso crisis: Government could close 10 ministries in effort to stabilise plummeting currency

 

The central bank raised interest rates by 60% on Thursday in an attempt to restore confidence in its ailing currency but the move failed to have a substantial effect, with the government poised to announce deep austerity measures on Monday.

 

 

And that's not working...

 

So the only party that's going to be able to raise interest rates to protect their currency is the US$... because the contracts and financial instruments underlying our crushing global debt are LARGELY US$ denominated...

 

That means you don't square these in pesos, lira, Eur0s, Rubles or Yuan... you settle in US$... And that means that there will be pressure on assets as they are sold to convert to US$ and that includes everything...

 

As the liquidation continues it spreads into other areas of the economy as well as borrowing and spending psychology...

 

That's how it has to work, because the central banker bailout card has expired.

 

Which is why I encourage everyone to have plenty of survival supplies...

 

It WILL get UGLY.


Edited by SemiBizz, 03 September 2018 - 11:03 AM.

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#17 SemiBizz

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Posted 03 September 2018 - 11:13 AM

Desperation Measures...

 

New Zealand bans foreigners from buying property in effort to clamp down on house price growth

That's one way to kill your housing market...

 

Meanwhile USD/NZD sinks... I have .52 target on it... .66 here.

 

I think the US$ Virus is going to claim a lot of victims...


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#18 SemiBizz

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Posted 03 September 2018 - 11:30 AM

And if higher interest rates don't fix the Argentine Peso... duhhhh let's try this next.

 

Argentina raises taxes in attempt to stem peso crisis

 

Go ahead, don't worry about those cows you are going to kill, we can worry about milk later...

 

rofl.gif


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