Turning Hard Times Into Good Times

Alasdair Macleod, Axel Merk and Michael Oliver are guests this week. In 2004 Dr. Stephen Roach of Morgan Stanley warned America was on a collision course as it borrowed excessively from China and Japan to fund its Treasury. The collision Dr. Roach warned about in 2004 was heard in September 2019 when Repo market interest rates exploded to 9% revealing a bankrupt America. On that basis alone, Alasdair was warning of an impending collapse of the existing dollar-centric fiat currency system. And then came COVID-19, triggering what may become the emergence of a depression greater than that of the 1930s. Almost certainly there will be a currency reset. But will gold be a part of the new system? How will gold perform as the reset takes shape? Those topics will be discussed with Alasdair. Axel will talk about OUNZ,a paper gold ETF, that allows investors to take possession of physical gold. Michael will provide his usual prescient insights into the momentum of key markets.

Dan Oliver and Chen Lin are this week’s guests. Nature gave us gold for money and currency. It is the best form of money known to man not only for economic stability and a prosperous egalitarian capitalist society but also to ensure economic stability through ongoing market adjustments. But increasingly since 1971 we’ve had the opposite system that has led us to a likely greater depression. No matter what happens, you must own gold to preserve your wealth. But various outcomes to the current chaos may make a difference in terms of how much protection gold will provide and what other assets you may want to own. Dan will outline three possible outcomes for gold. Chen will give us his latest views on gold, biotech and energy markets, share a couple of his favorite stocks and let us in on what he is hearing from his Chinese contacts. Your host will talk about some of his favorite gold stocks and thoughts about some of the social disorder Michael Oliver spoke about last week.

James Rickards, Michael Oliver and Chris Taylor return. The lockdown of the global economy resulting from the virus exported by China to the world has not only caused deaths approaching 200,000 but has triggered a global economic depression that may rival or surpass that of the 1930s. Will the carnage left behind impact the current balance of power between China and the U.S? What will be the outcome? As the Fed and other central banks around the world print an infinite amount of money, how will that not decimate fiat currencies leading to hyperinflation and a massive demand for gold, silver, and other tangible assets? We will seek James’ thoughts on those issues. Likewise we will ask Michael to let us know what his latest momentum and structural analysis is saying about stocks, bonds and the precious metals markets. Chris will update us on one of the most significant new gold discoveries in recent years, which is moving forward despite COVID-19 travails.

Alasdair Macleod, John Williams and Quinton Hennigh return. Commentators routinely confuse the deflationary effects of a contraction of bank credit with the inflationary effects of central bank policies designed to offset it. Central banks always ensure their stimulus is greater, so inflation, not deflation, is always the outcome. The mind of a banker will be explored to understand how and why money is created, and why expansion is always followed by a sharp contraction. But now with COVID-19 arriving as the global economy was already facing a contraction of bank credit, supply chain disruption is setting up the greatest global payment crisis in history. Central banks, led by the Fed, will issue so much base currency that fiat currencies will become almost worthless and asset prices will soon rise exponentially. Ways to protect yourself and loved ones will be explored. And Dr. Hennigh will share some exciting news for Irving Resources.

Ronald Peter Stöferle and Michael Oliver Return. Ewan Downie visits for the first time. Alasdair Macleod has warned that the Fed with its Modern Monetary Theory, (which isn’t at all modern but reminiscent of the destructive South Sea Bubble orchestrated by John Law 100 years ago) is in the process of hyperinflating the dollar out of existence. The obvious substitute for rapidly depreciating currency is gold. Few people are better able to give us a sense of what is transpiring in the gold markets during this still dollar-centric global monetary system than Ronald. He is recognized internationally for his expertise in the world of gold. Ewan Downie who heads Premier Gold Mines will visit for the first time to help listeners understand about value that is very much unrecognized by the markets and Michael will offer his always astute Momentum and Structural analysis of the gold and other major markets.

Rick Rule and John Rubino are this week’s guests. Astounding negative numbers point to prospects of a “greater depression.” Initial jobless claims of 3.029 million last week were totally eclipsed by a sickening 6.648 million this week! If that's not gloomy enough, Goldman Sachs predicts a negative GDP of 9% for Q1 and an obliterating minus 34% for Q2. For really successful investors, times like these are seen as times of opportunities. When blood is running in the streets, common traits among those who turn hard times into good times are a reality-based optimism that times will get better even as all those around them are blinded by despair. We can think of few guests on this show who better display those characteristics than Rick Rule and John Rubino. Your editor will provide some of his own thoughts about the current environment including some company specific views and strategies to address the sudden hit taken by junior exploration companies’ investors.

Doug Casey, Chris Taylor & Michael Oliver return. In pre COVID-19 pandemic, Doug recently opined on the ideas expressed in “The Fourth Turning” that have outlined recurring generational cycles that have occurred throughout American history. Societies arise from poverty through moral strength—and that brings them prosperity. But that prosperity brings on arrogance, and the arrogance brings on laziness, which brings on weakness and moral decline. Then they’re reduced to a condition of slavery and poverty again. Change is the only constant—except in human nature. Doug will sort through recent events in America to help us locate our place in this cycle and provide his best advice about how we can best respond. Michael will provide his latest momentum and structural analysis on the most important markets and Chris will update us on the progress being made by Great Bear on its multi-million ounce Dixie property in Ontario.

Guests include Alasdair Macleod, John Rubino and Ivan Bebek. Elites are scrambling frantically to keep their fraudulent pickpocket-fiat-monetary scheme alive as COVID-19 craters markets & the global economy. Last week Charles Hugh Smith suggested that with the real economy hit directly the elite must helicopter untold trillions of dollars directly to all 330 million Americans or threat revolution. Alasdair suggests whatever the establishment does, its dollar-based global fiat monetary system is doomed to fail given the cancerous growth of debt created in obedience to the faith-based Keynesian economics religion that has sown the seeds of a guaranteed systemic fiat monetary destruction. Both Alasdair and guest John agree that if ever there was a time to swap your digital dollars for gold, it's now before the markets begin to focus on massive dollar debasement. Ivan will update us on Auryn’s very exciting gold-copper exploration program in Peru where the drills are about to turn.

Charles Hugh Smith & Michael Oliver return. Michael Hudson appears for the first time. Mainstream pundits on CNBC & Fox Business channels have been talking about what a great economy Americans have enjoyed with stocks hitting new highs month after month. But abruptly a black swan known as the Coronavirus swam into the picture triggering enormous equity market declines that have investors experiencing levels of fear not known since 2008. But Charles Hugh Smith has recognized deeper problems than Corona that he discussed in his book “Why Things are Falling Apart.” We will ask Charles to dive deeper into the underlying self-inflicted pathology that not only threatens the West’s financial comfort but the liberties we have enjoyed for generations. Michael Hudson will tell us about a phenomenal very rich sedimentary-hosted copper-silver discovery that extends for many kilometers just recently found in Peru and Michael Oliver will provide an update for increasingly chaotic markets.

Trey Wasser and Ben Mossman visit for the first time. Trey heads up Ely Gold Royalties. Its shares have risen from a low C$0.15 in May 2019 to a recent high of over C$0.90. Given growth of near-term production from its royalty portfolio, there is no reason to think the upward trend will not continue. At the other end of the spectrum is Ben Mossman’s Rise Gold Corp. in the process of moving the exceptionally profitable high-grade Idaho-Maryland Mine back into production since it was shut down during WWII. That mine was the second most prolific mine in America until it was closed during the war by government decree even as plans were then in place to double production. The economics were very strong then and they look even better now with gold above $1,600/oz. The shares of Rise have not risen yet, but as investors realize its prospects your host is betting on a significant upside ride for shareholders. Both will tell their respective stories and Jay will opine on some picks as well.

Dan Oliver, Quinton Hennigh & Michael Oliver return. You would think any suggestion that Americans would accept a communist form of government is absurd. Think again! In his well thought out and documented essay titled Leninthink,” Dan demonstrates that the lack of political discourse in America since 2016 has been caused by a political left that intentionally avoids dealing with facts and truth when it doesn't match its propaganda aimed at grabbing totalitarian control and demolishing the US Constitution. This political cancer is at a very advanced stage and may be too late to be contained. Dan will explain how our Constitution is being undone one step at a time by the left and suggests how we should prepare for this event which is completely out of vision for most Americans. Quinton will update us on the latest positive developments for Novo Resources’ massive gold discovery by applying the latest materials technology and Michael will provide his latest insights into key markets.

Alasdair Macleod, Quinton Hennigh & John Kaiser are this week’s guests. Americans long ago stopped worrying about Federal deficits premised on the view that the world will forever need dollars. But what happens if the Coronavirus leads to massive global supply disruptions, the global economy enters a recession and the U.S. debt to GDP reaches historically dangerous levels? With plunging liquidity resulting from a recession and growing bankruptcies, the only way the U.S. will fund its deficits is via the Fed forcing trillions of phantom dollars into the system driving interest rates deeply into negative territory, thus diminishing demand for dollars in favor of tangible assets. With the purchasing power of the dollar in decline, an inflationary depression will ensue. Alasdair will explain these dynamics. Quinton will explain why Irving’s Omu project in Japan is highly prospective despite narrow high-grade, gold-hosted veins and John will share a favorite investment idea or two.

Dr. Quinton Hennigh, Eric Coffin, Gwen Preston and Michael Oliver are this week’s guests. Highly regarded exploration geologist Quinton Hennigh’s model regarding exploration projects is “go big or go home,” because the payoff in discovering a large high-margin project is much greater relative to risks involved than in discovering a small project. Hennigh ignores projects of smaller scale to focus time and efforts on elephant-sized projects. He is convinced the Tutavu alkaline project being explored by Lion One Mines in Fiji is one such project. Quinton will update and explain and time allowing, Walter Berukoff, CEO, will join us. Eric was on to the potential of Lion even before Quinton became involved. Eric may opine on Tutavu and a couple other most exciting exploration stories as will Gwen. With equity markets continuing to defy gravity, we will ask Michael what prospects MSA is seeing for stocks, bonds, commodities and precious metals.

Jim Rogers, John Rubino and Nav Dhaliwal return as guests. The western world bought into the Keynesian lie that deficit spending financed by money created out of thin air is the way to eternal prosperity. But money isn’t actually created out of thin air. It’s manufactured with debt and what we have learned since the 1930s is that under the spell of Keynesian economics, debt is growing much more rapidly than income, leaving the world ever closer to a global depression. The gods of money at western central banks dodged a bullet in 2008 but only by leveraging the system even further leaving the system ever closer to global poverty and chaos. We will ask world traveler Jim Rogers for some ideas about how we might best prepare for a system reset. John Rubino will provide his latest thoughts on the U.S. economy and Nav Dhaliwal will talk of Gatling's emerging multi-million-ounce gold deposit and impending share price driving news.

Alasdair Macleod, Michael Oliver and Chris Taylor are return guests. Alasdair believes fears of price deflation are unwarranted. Price deflation has been brought about by past sound money and free markets. By contrast Keynesian inflationary financing has led to repeated monetary and systemic failures. Investment funded by savings is a far better, natural economic environment than the false gods of easy debt and money printing. There can be no return to the stability of gentle price deflation without seismic shifts in economic thinking by governments and central banks. Alasdair will explain why mild deflation, which is positive for most people, is no longer possible. Instead we face prospects of rising consumer inflation as well as continued asset inflation. Chris will provide an update on Great Bear’s unfolding world class Dixie gold discovery and Michael will update us on his latest structure and momentum indicators for all the markets of major importance to our listeners.

Marc Faber, John Rubino and Quinton Hennigh return. If you define inflation as an increase in the money supply, we can be 99% certain 2020 will be another inflationary year. But where will the money go? Will it continue to move into stocks or as Michael Oliver and Alasdair Macleod believe, will it start to move into commodities in a serious way and from there into a serious increase in consumer inflation as measured by the CPI? John Rubino will opine on the question of inflation or deflation as will Marc Faber who will also provide his views on the dollar and debt markets for 2020 and on geopolitics and global markets from his dwelling in Thailand. Quinton Hennigh will update us on some major positive developments for Novo on what your host continues to believe is a world class gold project in the making.

David McAlvany, Michael Oliver & Nick Appleyard return. Michael has turned decidedly bullish on commodities and bearish on the dollar, even as out of control rising interest rates appear visible in the side view mirror. In sync, David recently opined that “the worm is beginning to turn for unloved sectors,” notably copper and energy. What fundamentals does he see to convince him that the sun will shine on sleepy commodities? How might strife in the Middle East and trade issues with China impact global markets? And what impact may they have on commodities, monetary metals and interest rate markets? What impact might Fed money pumping into the system via the Repo markets play globally as foreign nations are pulling out of the U.S. Treasury markets & U.S. deficits run further out of control? Nick will talk about progress being made by Tristar Gold on its Brazilian gold mining project and we will seek Michael’s latest proprietary views on the markets we care most about.

David Rosenberg and Corwin Coe are two new guests this week. If you have ever watched mainstream financial TV shows, you will have seen David. He has always been one of the most entertaining and provocative main stream economists in Canada and the U.S. But now he is going on his own. Why so? In his words, “Look, I’m at a stage of my career where I want to devote more time to what my passion is. And my passion is research, my passion is writing, my passion is speaking – all the above and connecting the dots between what’s happening in the broad economy and formulating a cogent and coherent investment strategy.” We will ask David to share some of his thoughts on those major topics next week. One of the two stocks your host chose as a top pick for 2020 was Sitka Gold Corp. Corwin Coe will join me to tell you about that micro cap company prospects on three drill ready properties. When you hear what Cor has to say, you will understand why your host loves this story.

Guests include Alasdair Macleod, Michael Oliver, Dr. Quinton Hennigh and Hamish Greig. Treasury bond yields may continue to rise, exposing the debt trap the US government finds itself in. Market participants don’t realize it yet, but the global monetary system is spinning out of control. This will become obvious as the crisis stage of the credit cycle, now upon us, becomes evident. Alasdair believes the outlook for monetary inflation is dire. Indeed it was recently reported that 90% all new US Treasury borrowings since September had to be funded by the Fed in order to avoid crash-inducing rising interest rates. It’s hard to think of a more worrisome but bullish picture for gold as measured in US dollars. Alasdair will explain the dynamics. Michael will comment on his prescient call for a declining dollar and rising commodities and how that may impact stocks and bonds and Quinton and Hamish will discuss an exceptionally exciting Lion One high-grade gold discovery in Fiji.

Eric Coffin, John Kaiser & Chen Lin are guests for this week’s show. Your host will ask them each to provide their views on the following issues: 1) Based on their economic outlook which markets do they think will be strong in 2020? 2) What was their best stock pick in 2019? 3) What are their top two picks for 2020? Your host will also lay out his views on all of those three issues as well and bring you up-to-date on Michael Oliver’s latest views on the dollar, commodities, precious metals and other markets of interest.