Being bearish for the last 30 years does not make you an expert. As of now he's been bearish for the last 2 years, calling tops left and right, keep calling tops and I guess eventually you'll be right. This guy is one of the biggest crooks.
I remember this period well, Mario Marciano told me we would have consecutive corrections of 15% in 2008 before the year ever started! People who want to watch CNBC to get their news typically blow off the true technical and economic analysis!
Study the 1929-1032 Dow chart. The initial plunge was followed by a recovery bounce. At the time it was assumed the worst was over. Same pattern and psychology exists today. The May 6 panic selloff was the opening bell for the most devastating decline since 1930.
Part of Prechter's mistake on the dollar, I think, was to ignore the role of the Fed and the administration. They are "psychological" players in this game too, and you have to consider the effect they will have. If we suffer a crash of the magnitude that Prechter predicts, you can be sure that the government is going to PRINT and SPEND until jobs and asset prices respond. Why wouldn't they? What is stopping them? What do they gain by holding back? The right play here is gold.
People aren't borrowing. Big banks are refusing to lend. People are walking away from mortgages. FHA is the housing market. Liquidity is drying up and never has there been so much debt to pay off. If you think that's inflation then buy gold, short the dollar and get filthy rich. Here's your chance, the dollar rallied and it must be a correction before it plunges further down. The Fed has enough shit on its books that its a threat to it's own survival. Might as well listen to Jim Cramer
Prechter predicted that gold would go up in the blowout typical of commodities and then correct sharply. With hindsight, his forecast was 100% correct. Other than one bad call, he called nearly every turn in gold for the past twenty years. The last two decades, Prechter called the gold market better than anyone else in history. If you're trading Elliott correctly, when you're wrong you don't lose much and every trader who makes money consistently loses money on at least 40% of his trades.
This is so Good. Right on! Next Chapter: Will the dollar rise pushing commodities lower in the next leg of this DD, or will Technical analysis breakdown via currency event?
One more great economist who predicts the economy correctly and great traders and economist Michael Hudson, Peter Schiff, Jim Rogers, Marc Faber and so many more. God help us we have Idiots in our government.
peace, you must know some inside stuff. If i were you, id give a call to the State Dept. You could break that case wide open. Thanks for the insight !
The stock market is back up! Obama did it! He beat the odds and everyone said it could'nt be done. He saved this country from ruin. God bless Obama, he truly is our financial savior
check out Jim Cramer from CNBC talking about Obama on You Tube. There is NOTHING he likes in the "stimulus" bill. If 911 was an inside job, as you say, why are the democrats not investigating this ?? You might know something they don't !!
Dont even give me that bullshit 911 was an inside job. Its funny how we went into Afghanistan looking for Osama but than this other FALSE threat came from Iraq that Saddam was holding weapons of mass destruction, Which was also bullshit. Once America got into Iraq no one heard about Osama again and that was the reason the US went to war in the first place. But please do try to argue that Bush and his 2001 manipulation did not lead the economy to what it is today. That he had no part in it.
hmj, your boy Obama has it figured out where he sending 20,000 troops into Afganistan to search for bin-Ladin. That's your hero, i would question Barack on this because the War on Terror is a Bush thing. i think Barack is a Bush puppet, what's your thoughts ??
the banking collaspe goes back to Bill Clinton's Glass Steagle Act in the 1990's where EVERYBODY deserves a house. Obama has just made it worse with his socialism
" the banking collaspe goes back to Bill Clinton's Glass Steagle Act in the 1990's where EVERYBODY deserves a house. "
You're getting your talking points mixed up. The Glass-Steagall act was repealed (deregulation) by Phil Gramm, a republican and John McCain's economic adviser, under Bill Clinton. Bill Clinton signed off on more republican deregulation, which is why he is no example of a real Democrat.
'Obama's socialism'? Were you asleep when Paulson wanted $700 billion to the banks?
FYI - ALmost 68% of Americans own stock through either pensions, union funds, 401K, general stocks, etc. The old "It's only the rich" slogan went about around 1985 or so.
The market presents HUGE opportunity for investors to buy, especially in the Penny Stock Market. YourStockSource(dot)com can pick winners for you - tell you what to bid and when!
Another thing, he keeps looking to the side to follow his script, showing that he needs to reflect on the facts instead of really knowing what he is talking about. He has lost some weight though!
Ray take a look at the private email I sent to you.
In case you have not noticed the RE market is already in a correction over the past 2 years, and Commercial is already down. The DOW is down from a high one year ago of $14,000 down to $8,000 the day I wrote my last comment in here on 11-22-08. To make matters worse the DOW is down from 11 years ago when it was at $8,050 in Dec 1997.
Dollar for dollar the R E market beats the crap out of the stock market EVERY TIME.
The world economy will benefit from a stronger US dollar. That's a little more important than your holiday. I too am Australian but I live in Europe. I was very happy to see the Euro fall against the dollar. It will result in increased tourism and exports.
look what im getting at is that this entire situation is more BAD than good. It was caused by a bunch of guys who got too greedy. I just used that holiday as an example
A strong US dollar is a good sign. It's one of the ingredients required to get us out of this BAD situation. Historically 65c isn't a bad conversion rate. I was living in Australia when it fell below 50c.
yeah ok but im just talking about the people who lost their houses and virtually everything. this isnt a good situation if thats what your getting at...
I didn't say it was a good situation. Part of the reason for the aussie dollar drop against the US dollar was the 1% interest rate cut you guys just got. Low interest rates are good for mortgage holders.
Yeah we didnt get affected too badly because we have a good economy, we have restrictions on things like this (unlike the US). But still heaps of people in the US lost everything, their money, their house etc. Moral of the story = getting greedy ruins lives
"If I put in here once a week that a 30% fall is coming in the stock market, one day I'll be right. I hope a few million people read my book the next week."
Then let me "put in here" that your worthless U.S. stocks will be about 90% lower this time next year.
Thereafter, I think every prediction he made was wrong, at least until I started hitting the off-button whenever I saw him. He was at least 6 years out with one prediction. If you'd taken his advice you would have been bankrupted. Many times.
If I put in here once a week that a 30% fall is coming in the stock market, one day I'll be right. I hope a few million people read my book the next week.
Bob's readers are doing quite well. They're up 40% on stock investors, have little or no debt, and rent or own their homes outright. Sitting pretty. Sucker.
I think he is best for conservative buy and hold approach, rather than speculating. ie he can help us see if something is overvalued, but things can stay overvalued for a while
You may be right in the end, crusty, but it appears the deflationary outlook is looking quite good for now. Credit, Metals, Crude, Stocks, Real Estate -- ALL are in deflation.
Stands well with the contrarian outlook: when everyone thinks we're heading for rabid inflation, De-flation occurs instead!
Great video and I'm with him all the way..BUT, someone maybe already wrote it?, why does he say bonds are the safest place to store your money? Future fiat currency? I believe that there is gonna be created a whole lot of inflation the comming months for all these bail outs, and that gold and silver would be the safest place(?)
Perfectly said and true! We can't see the future, but it is damn clear what direction things have taken. Sad that few see it like you. Imagine you and others look up to see a boulder tumbling down a cliff. You say, "I believe that there is gonna be a loud noise. I suggest covering your ears." Sound advice, but expect the others to look confused or say things like, "The boulder will turn around and go back." "Boulders can't fall! The cliff is clearly rising." "Cover ears?! That is crazy talk!"
Towards the end he said that oil was overvalued but it has risen in price by at least 50% since (measured in funny money but it has even risen in terms of real money) so I question the deflation argument but concede it will eventually come to pass. When though? After a hyperinflation?
You are on the money pal. Robert Prechter is a genius and has been spot on more than many I know but this time he is missing all the useless pieces of paper(dollars) that have been printed and are still being printed and guess what, No one knows how much is being printed. Therefore the deflation theroy held true during all other crashes. These are Hyperinflationary period like you said.However, as banks go bust all commodities held on margins may temporarily retrace. Only to move much higher.
We need to move industries from india and africa the land of free labor with aids to America, start mass production and become producers rather than consumers, china is just making load full of cash off us and we sit around saying it's worth it, but no, don't expect anything good from communists, they only think for themselves." Thumb down this comment if you are a dumb ass, but this is the only way to get our respect back and start earning money.
I really don't know what industries we need from India and Africa? Please enlighten me. Do you know where is Africa? I think you confused Africa with Asia.
Idustries are factories that produce parts and all that stuff, Africa has few idustries which moved from US, Asia has a whole bunch of them since 1970s.
My data comes from the CRSP database at the University of Chicago.
On January 19, 1993, the day before Bill Clinton was inaugurated the S&P 500 closed at 435.13. On January 19, 2001, the day before George Bush was inaugurated and Bill Clinton left office, the S&P 500 closed at 1,342.54. Today the S&P 500 closed at 1,423.57. That is up slightly since my post.
I am sorry if reality does not coincide with your distorted political views.
Now, he doesn't say anything about prospect for gold prices. If you talk about REAL value, gold is only worth what the hoarding instincts of the people value it at. REAL value is only in food, shelter and basic necesities and even those can be hoarded above our needs, so their prices can fluctuate above or below their real value. This is why 'real' estate is crumbling. but the price of 'basic' shelter will hold it's value better than gold in the long term.
Bush, the worst president ever, looted our Treasury, borrowed money for a bogus war, debased our currency and future. But Lil' Dubya's oil-buddies are VERY happy. Stupid American suckers re-elected this corrupt warmonger in 2004. I bought gold at $280, and again at $540...leveraged. LOL How will Americans pay their medical bills if they get sick???
ok you bought a 1-10 ounce at $280 and another at $540, sold at the top $990,you made $25, GOOD job,do you also save baseball cards and pound puppies?
Great trade! Of course, as with any investment, it's meaningless unless you have an exit plan. I have friends who've made a lot in gold / silver, but they are "bugs" and -- like most investors -- they're just going to hold on even as prices fall. Investing = trading, that's true wisdom for you. Read "Prechter's Perspective".
RON PAUL is still a presidential candidate.He knows the economy.He will correct the Federal Reserve fraud and bring back the real American dollar they destroyed in 1913.The greedy demon banksters are stealing peoples homes across the country to pay for their malfeasance.Greedy corporate minions and rogue government rats are cashing in our dispair.The trillions wasted on the war resulted in loss of millions of innocents lives & death of the USA economy. No Amero,No NAU,no NAFTA superhighway!!!
In the real world, banks don't care all that much for raccoons. The interest differential turns into shareholder equity, and eventually into the houses, jet airplanes, jewelry, food, etc. that are owned and consumed by the bank's shareholders.
Unfortunately Jive I still see deflation coming. The FED can only encourage banks to lend - I just don't buy the printing money analogy. If banks get tight and consumers start to save - deflation starts. If you could show that I'm wrong here that would be great - then I'd feel much better about my gold. Maybe tommorrow.
If he was bullish on gold in 2005 and cannot apologize for it now, you have to question the guy's competence. Now he says treasury bills are "safe"? They'll safely lose value to inflation! Even the nominally inflation-protected government paper is no good, because they use fraudulent measures of inflation. Buy real things. Agricultural commodities, metals, etc.. Those are always going to be valuable.
Prechter believes the current driver is a deflationary environment not inflationary. ... and the FED believes this also, that's why the FED is lower the interest rate.
The Fed will do anything they can to prevent deflation - and they have tools they have not used yet. The money supply is increasing. Shadow Stats shows M3 raging out of control. Very importantly China and Japan hold well over a trillion in Treasury debt. If the dollar strengthens, they will use the opportunity to sell out of those positions. We already see foreign governments selling their treasuries and putting the dollars into US equities.
"What banks can you go to and get foreign currency certificate of deposits?" - EverBank. Also look at the Merkx mutual fund. But do you really want fiat money of any kind? They are all inflating, just not as much currently as the US dollar.
Agreed. I was just thinking of what he was saying about stock values in terms of gold. With all the money the fed is printing, it's been hiding the market crash...
You are correct, but there's more to it. Although they do print money (monetizing debt), it's a very small amount compared to their role in facilitating credit. The inflation we've seen since 1982 is actually *credit* inflation, not currency inflation. Unlike currency, credit can dissapear in a deflation. It doesn't matter how much gold and oil go up, because both the monetary engine (credit) and the psychological engine (elliott waves) and turn on a dime. Read "Conquer the Crash".
We are in a commodities bubble - it too will crash. How to time it? Portfolio managers are just now adding gold, people are starting to talk about gold everywhere, the last fool is close. If the "money" that is being pumped into the system was actually real then inflation would be a sure bet - but its not, its monetized debt - only on the computer. Money is lost constantly as interest (it must be replaced with more loans) The FED is fighting deflation not trying to keep the DOW up.
Agree. I don't think anybody knows how to time it but there is some truth in looking for the last fool. At some point the price will be too high and people will stop buying.
As you know - EVERYTHING depends on demand.
I'm guessing gold $2000 and then down. If deflation hits - all bets are off; there will be nowhere to store your money except in cash.
No reason why this depression would be any different than 1929.
How so? 95% of money is debt. Just think of how the FED "injects liquidity" and you'll understand - they encourage banks to lend. So, what happens when banks stop lending or people stop going into debt? Money creation stops -yet - money is being lost at all times from interest, repayment, and default. When a loan is paid back, money disapears because it was only on the computer to begin with (monetized). google video - "money as debt" if you need basics (no offense).
You have to understand the idea that - all debt is monetized (or "only on the computer"). Thisis a result of fraction reserve lending (or no reserve lending really) - they don't have the reserves so IT MUST BE CREATED. There is interest attached which must be paid (servicing the debt). Where does this extra (interest) money come from? If you look at the big picture, you'll see that money must be cont. created (as debt). Cont -
When banks slow lending (loss of assets/reserves from housing bubble?) or people/buisness decide to save and not to go into debt - what happens? Its the worst thing that could - DEFLATION secondary to money contraction. The monetized money continues to be sucked into the banks (and disapear). That's about the best I can do -many good videos explaining it. Robert Prechter does a good job in "Conquering the Crash"
I have watched "money as debt" several times. There are some bad mistakes in it, BTW. (No offense.)
Interest payments do not extinguish money. The bankers and their stock holders keep it.
I believe Bernanke will do whatever he must to reflate. He has devised lots of ways of doing it beyond buying t-bills through the FMOC. The term auction facility is just the first of the tricks he has up his sleeve.
If 100,000 is lent and 110,000 is paid back, where did the 10,000 come from? When the 100,000 is repaid - the net is 10,000 to bank - taken out of circulation. If you assume that all current money is created from loans - you see the probem. The FED can only buy or sell govt securities or change the reserve requirement - that's it. Did you want to tell me what the mistakes were?
Part 1) "If 100,000 is lent and 110,000 is paid back, where did the 10,000 come from?"
It can come from the exchange value of goods and services. It is explained very well in The Creature From Jekyll Island. Bankers and shareholders spend the profits from the difference in the interest they receive and pay out.
So there are profits - they recieve more interest than they return. This profit is real money and has to come from somewhere. We started with lending 100,000 - now the bank has say 107,000 after loan repayment. From where did the 7000 come from? It had to come out of the money pool of the population. Now you have a net loss of 7000 from the society.
I already explained, or tried to. It's hard to do in 500 words. It is sometimes difficult to refute an argument, because you have to construct a counter-example in addition to pointing out the flaw in the premise or logic. Read The Creature From Jekyll Island. It's a good book. I'm going to make that video one of these days.
Good luck. I'll try one more time if you don't mind. Pretend no money exists except 100,000 in the bank. A guy takes a loan for the 100K at 10% and repays 110K. See a problem here yet?
That is almost exactly the example that The Creature From Jekyll Island uses. Only the amounts differ. Do yourself a favor and read it. It's a little conspiracy-theoryish, but contains lots of facts. And it's fun to read.
That example is impossible. I will play along though. He could pay 100 out of the money he borrowed. Maybe ten bucks of that would go toward interest. He then goes to the bank and contracts to mop their floor for ten dollars. Rinse and repeat.
Ok - you're right. Damn, gonna have to re-think things. What about when loan repayment or default is higher than new loan production? That has to be a net loss in money.
Hooray! I remember the same ah-ha moment. When you learn something new, you win once. When you learn something new, but also throw off a misconception, you win twice. I am still a long way from understanding finance as well as I want to. I used to find it very boring. But after I saved my money for 24 years, and saw the bankers destroying it, finance suddenly became much more interesting.
Thanks for the education. Just subscribed to your site. Do you have a video on whether we should worry about inflation or deflation? I recently changed to worrying about deflation after reading Conquer the Crash.
I do not have a video on that subject. I tend to believe that Jim Puplava knows his stuff. Check out the Financial Sense News Hour online. There was a series called "Dying of Money" that you might want to listen to. Gotta go now.
One more thing, and I've really got to go. I am not familiar with "Conquer the Crash," but a quick google shows that it came out in 2002. The market did go down after that, particularly the dot-com and tech stocks. But the last 6 years have been marked by extreme monetary inflation and bubbles - the housing bubble, and now the still pumped up bond bubble. I would look to someone with a better track record. He was bearish on gold in 2005. That's hard to explain away.
I believe Prechter's outlook on stocks is that they actually HAVE been crashing (measured against gold and commodities) since before his book came out; you just couldn't see it until now because of the massive amount of credit inflation. Back in a Dec. '06 video he put out, he called it the "Silent Crash." I read a lot of his stuff, and he always emphasizes that throughout history nominal values will always catch up to real values. That appears to be what we're seeing now.
Is there any reason to wonder where the extra $10 came from? In a closed system, with just the bank and the janitor, where does he get the interest payment from? In your example, the $10 dollars comes from the payment for service - right? I'll read Jekyll Island.
"Good luck. I'll try one more time if you don't mind. Pretend no money exists except 100,000 in the bank. A guy takes a loan for the 100K at 10% and repays 110K. See a problem here yet?"
The guy is a raccoon hunter. He charges $1 per raccoon. Whenever he pays $1 in interest to the bank, the bank buys a raccoon from him, and pays him with the dollar. When the loan is paid off, all the money is gone, but there is a pile of 10,000 raccoons at the bank. The interest turned into raccoons. Got it?
The simple example that Creature gives has a fellow borrowing from the bank, then working for the bank mopping its floors. The bank pays him out of the interest he pays to them. He pays the interest he owes by mopping.
I see this so often that I think I will do a video about it.
If you follow his advice and put everything in tbills and you do get hyperinflation, you lose absolutely everything. Foreign currencies form some protection, but there are global competitive devaluations going on right now. This means if CB policies continue, at one point people will run away from devaluing cash. In Zimbabwe they are still waiting for the credit contraction
and so the safest is gold and silver. accepted and known worldwide, protects against devaluation of the dollar and inflation. this is why precious metals is on the up slope
They key is that the FED/Banks are not pumping out paper currency, they're pumping out debt - monetized or computer money. It doesn't exist. Only 5% of money is paper. So when loans are defaulted on, that money just disapears hence deflation. The FED is fighting deflation by dropping interest rates. Once loans stop, money gets sucked into the banks via interest until there is none left. A few rich people will have cash (Cheney has 25 mill in bonds) - then the buying begins.
It is strange that he didn't noticed the factor that during previous crises dollar was the only international money, today it is also euro. It is often that Americans analytics ignore European Union (GDP equal to US but in euro;), deficit about 3% GDP, constant growing )...
In my opinion it is rather important factor in global analysis witch didn't existed earlier..
Does anyone know where you can make investments in what Prechter calls "Swiss Money Market Claims" and "New Zealand paper"? I cannot see how Gold and Oil will go down in value when the fed is pumping out paper currency like there's no tomorrow. I would think this was an inflationary problem not deflationary. Irregardless, does anyone know where and/or how to make the investments he suggested?
Perhaps by "New Zealand paper" he just meens the currency. I know that in the banks where I live, you can get 7% interest on time deposits of New Zealand dollars.
EverBank and Merkx. Seven months ago, I had half my net worth in Merkx, but I reduced that to almost zero. I invested in a lot of commodities - mostly gold and silver, but also corn, wheat, soybeans, cotton, sugar, soy bean oil. So far so good. I am looking into other things now. It's not easy, keeping the central banks from robbing you.
Everbank doesn't give you a good interest rate for the foreign currency involved. Ie. New Zealand Dollars gives you 9% on CD's. Everbank only gives you 7% and probably keeps the difference. They also charge up to 1% on changing your dollars to the foreign currency. I'm not sure, but they could also charge you 1% to change from foreign currency into dollars. For example, lets say you have 300k. They may charge up to $3,000.00 for the currency exchange in and out or 6k. I could be wrong.
agree with the ron Paul but not with that we are zionist. Most people that i know dont like jews but they also alot of people are ignorant and dont know the whole story. My generation is starting to wake up though. Ron Paul wont be elected. Even though i want it to happen its not going to. Right now im just waiting on the North American Union to try to get started when they crash our economy witch i am not thrilled about to say the least.
Not the end of the world... yet resources are depleting, the earth is warming, and the money to fix it all is flowing down the drain.... but it's all good, eh?
our dollar has never been this low and its not backed by anything what do you mean its natural our American dollar is worthless!!! Our market is going down because of it. It doesnt matter how many points you think the market is going up if you dont equate in how much our dollar has dropped in relation to commodities and stocks. 41 ounces of gold bout 1 share of the dow 30 years ago. close to 12 ounces of gold buy 1 stock of the dow come on lets be realistic and look at the numbers.
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FreeSTOCKnolossROBOT 8 months ago
Securities are worse than money... It is known to all.
Serrokot 11 months ago
john Bell’s How to Hack the Stock Market Review
jabedmorshed 1 year ago
Being bearish for the last 30 years does not make you an expert. As of now he's been bearish for the last 2 years, calling tops left and right, keep calling tops and I guess eventually you'll be right. This guy is one of the biggest crooks.
jmmacalalag 1 year ago
Prechter hit the exact peak here. Wow
jackgoldman1 1 year ago
I remember this period well, Mario Marciano told me we would have consecutive corrections of 15% in 2008 before the year ever started! People who want to watch CNBC to get their news typically blow off the true technical and economic analysis!
OptionsSchool 1 year ago
Wow he called that right.
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Twinhead1987 1 year ago
Study the 1929-1032 Dow chart. The initial plunge was followed by a recovery bounce. At the time it was assumed the worst was over. Same pattern and psychology exists today. The May 6 panic selloff was the opening bell for the most devastating decline since 1930.
TYX91101 1 year ago
On May 6th 2010, the stock market was manipulated. I explain how and who did the manipulation on my channel.
fizban1977 1 year ago
A broken clock is correct twice a day.
judoyodan 2 years ago
SELL, SELL, SELL...
wavytv 2 years ago
Part of Prechter's mistake on the dollar, I think, was to ignore the role of the Fed and the administration. They are "psychological" players in this game too, and you have to consider the effect they will have. If we suffer a crash of the magnitude that Prechter predicts, you can be sure that the government is going to PRINT and SPEND until jobs and asset prices respond. Why wouldn't they? What is stopping them? What do they gain by holding back? The right play here is gold.
abcdefghix2006 2 years ago
People aren't borrowing. Big banks are refusing to lend. People are walking away from mortgages. FHA is the housing market. Liquidity is drying up and never has there been so much debt to pay off. If you think that's inflation then buy gold, short the dollar and get filthy rich. Here's your chance, the dollar rallied and it must be a correction before it plunges further down. The Fed has enough shit on its books that its a threat to it's own survival. Might as well listen to Jim Cramer
jdbrown371 2 years ago
What "mistake on the dollar"? Against all mainstream logic, the dollar is rallying, as P anticipated.
To answer your Q, "what's stopping the gov't from printing?" That's easy -- the Chinese, the U.S.'s biggest lenders.
grimesgw 2 years ago
This guy was so wrong about gold. And in a recent interview he still thinks gold could go down. But he's right about the other things he mentioned.
ggadguy 2 years ago
Prechter predicted that gold would go up in the blowout typical of commodities and then correct sharply. With hindsight, his forecast was 100% correct. Other than one bad call, he called nearly every turn in gold for the past twenty years. The last two decades, Prechter called the gold market better than anyone else in history. If you're trading Elliott correctly, when you're wrong you don't lose much and every trader who makes money consistently loses money on at least 40% of his trades.
jdbrown371 2 years ago
Just cause u cannot predict market or posterboys and girls of Media cannot do doesnot mean no one else can do..
marnevivek 2 years ago
WOW the guy was bang on.
orangedac 2 years ago
Comment removed
michael38921 2 years ago
If the Dow is topping right now, and the next leg down is equal to the first, Dow 10200 will yield a downside target of BELOW 2500.
TYX91101 2 years ago
This is so Good. Right on! Next Chapter: Will the dollar rise pushing commodities lower in the next leg of this DD, or will Technical analysis breakdown via currency event?
BringBackCapitalism 2 years ago
One more great economist who predicts the economy correctly and great traders and economist Michael Hudson, Peter Schiff, Jim Rogers, Marc Faber and so many more. God help us we have Idiots in our government.
golfprobro4eagles 2 years ago
The rich get richer, the poor stays poor, hardworking get middle finger, the lazy get government help..........
skbakanov 2 years ago 14
Just wondering, do you think WW3 will be a class war?
Nuanceqwest 2 years ago
More like a class war ON TOP of WW3..
jat4209 2 years ago
Here is the great thing. History sure does rhym so if you want to make money of these things i'm sure you could find a way.
It is very useful to look at things both as a participant with your own emotions and a spectator/speculator/investor.
Nuanceqwest 2 years ago
peace, you must know some inside stuff. If i were you, id give a call to the State Dept. You could break that case wide open. Thanks for the insight !
k3304 2 years ago 3
DJIA close above 7,500 today or Total Global Bank Run tomorrow...
It's just that simple.
Pass it on.
da bear
All 'Their' Fiat Metals Are Belongs to We The People.
dabear3006 2 years ago
lol, anyone else here watching this for Mr. Boericke's Economics class?
daftpunk577 3 years ago 3
yup
ilikepie11891 2 years ago
period 9 ftw
dalzuga 2 years ago
The stock market is back up! Obama did it! He beat the odds and everyone said it could'nt be done. He saved this country from ruin. God bless Obama, he truly is our financial savior
billydumont 3 years ago
Dude..WTF are you talking about?
peacewithpower 2 years ago
check out Jim Cramer from CNBC talking about Obama on You Tube. There is NOTHING he likes in the "stimulus" bill. If 911 was an inside job, as you say, why are the democrats not investigating this ?? You might know something they don't !!
k3304 3 years ago
Dont even give me that bullshit 911 was an inside job. Its funny how we went into Afghanistan looking for Osama but than this other FALSE threat came from Iraq that Saddam was holding weapons of mass destruction, Which was also bullshit. Once America got into Iraq no one heard about Osama again and that was the reason the US went to war in the first place. But please do try to argue that Bush and his 2001 manipulation did not lead the economy to what it is today. That he had no part in it.
hmj8786 3 years ago
hmj, your boy Obama has it figured out where he sending 20,000 troops into Afganistan to search for bin-Ladin. That's your hero, i would question Barack on this because the War on Terror is a Bush thing. i think Barack is a Bush puppet, what's your thoughts ??
k3304 3 years ago
Under the Obama stimulus bill, the stock market will collapse, crash and burn. We are now in the Greater Depression !!
k3304 3 years ago
Message to k3304:
The markets already have crashed and burned.
And it has nothing to do with 'the Obama stimulus bill'.
When are you pathetic republicans going to own up to the effects of yourparty's disastrous policies?
Like undermining wages for 28 years, and replacing wages with cheap credit when the consumer did not come back in 1992?
tigerone1970 3 years ago
the banking collaspe goes back to Bill Clinton's Glass Steagle Act in the 1990's where EVERYBODY deserves a house. Obama has just made it worse with his socialism
k3304 3 years ago
" the banking collaspe goes back to Bill Clinton's Glass Steagle Act in the 1990's where EVERYBODY deserves a house. "
You're getting your talking points mixed up. The Glass-Steagall act was repealed (deregulation) by Phil Gramm, a republican and John McCain's economic adviser, under Bill Clinton. Bill Clinton signed off on more republican deregulation, which is why he is no example of a real Democrat.
'Obama's socialism'? Were you asleep when Paulson wanted $700 billion to the banks?
tigerone1970 3 years ago
he clearly shows, like all stock market hustlers, it's FAR more profitable to sell opinions than it is to follow them.
Boop Boop.
stylecounciler 3 years ago
lol some rich people will go down a class or 2
micheals1992 3 years ago
Yeah well kind of funny but if you really think about it, what will happen to the poor...? Just a thought.
unknownmember1221 3 years ago
FYI - ALmost 68% of Americans own stock through either pensions, union funds, 401K, general stocks, etc. The old "It's only the rich" slogan went about around 1985 or so.
smb12321 3 years ago
micheals 1992, the "rich" people you so despise have probably been supporting you through welfare all your life if the truth were to be known.
mandolin1986 3 years ago
The market presents HUGE opportunity for investors to buy, especially in the Penny Stock Market. YourStockSource(dot)com can pick winners for you - tell you what to bid and when!
YourStockSource 3 years ago
oh dear..
gamer301 3 years ago
Another thing, he keeps looking to the side to follow his script, showing that he needs to reflect on the facts instead of really knowing what he is talking about. He has lost some weight though!
DickColby 3 years ago
Ever heard of Glenn Neely? Why didn't they ask his opinion?
DickColby 3 years ago
Party like it's New Year's 1930!
The second crash from 1930 to 1932 did most people in, not the initial 1929 crash.
Did you know that the Dow made a slightly lower low in November 1929 after the bad October?
Just like in 2008...
da bear
If you liked 2008, you'll love 2009!
dabear3006 3 years ago
Ray take a look at the private email I sent to you.
In case you have not noticed the RE market is already in a correction over the past 2 years, and Commercial is already down. The DOW is down from a high one year ago of $14,000 down to $8,000 the day I wrote my last comment in here on 11-22-08. To make matters worse the DOW is down from 11 years ago when it was at $8,050 in Dec 1997.
Dollar for dollar the R E market beats the crap out of the stock market EVERY TIME.
anyname666 3 years ago
Stay out of the flip'n stock market.
get into real estate.
today 11/22/08 the DOW is at an 11 year low.!!!Real estate is down a little but 3 times what it was 11 years ago.
anyname666 3 years ago
Wrong, Real Estate is preparing to crash. Especially commercial is the next leg down.
raysstockworld 3 years ago
The world economy will benefit from a stronger US dollar. That's a little more important than your holiday. I too am Australian but I live in Europe. I was very happy to see the Euro fall against the dollar. It will result in increased tourism and exports.
BipedalHumanoid 3 years ago
what about the people that lost everything and are now forced to live in their cars?
51Sarge51 3 years ago
Their plight is also a tad more important than your holiday don't you think?
BipedalHumanoid 3 years ago
look what im getting at is that this entire situation is more BAD than good. It was caused by a bunch of guys who got too greedy. I just used that holiday as an example
51Sarge51 3 years ago
A strong US dollar is a good sign. It's one of the ingredients required to get us out of this BAD situation. Historically 65c isn't a bad conversion rate. I was living in Australia when it fell below 50c.
BipedalHumanoid 3 years ago
yeah ok but im just talking about the people who lost their houses and virtually everything. this isnt a good situation if thats what your getting at...
51Sarge51 3 years ago
I didn't say it was a good situation. Part of the reason for the aussie dollar drop against the US dollar was the 1% interest rate cut you guys just got. Low interest rates are good for mortgage holders.
BipedalHumanoid 3 years ago
Yeah we didnt get affected too badly because we have a good economy, we have restrictions on things like this (unlike the US). But still heaps of people in the US lost everything, their money, their house etc. Moral of the story = getting greedy ruins lives
51Sarge51 3 years ago
well when you loose your job and loose your 401 k don't come on youtube and expect anyone to care. After all - its just the big picture that matters.
jingling30 3 years ago
not really sure what that comment was in aid of. I didn't say I didn't care about people losing their jobs... and nobody outside of the US has a 401K
BipedalHumanoid 3 years ago
Hi!
ZombieOnDrugs 3 years ago
"If I put in here once a week that a 30% fall is coming in the stock market, one day I'll be right. I hope a few million people read my book the next week."
Then let me "put in here" that your worthless U.S. stocks will be about 90% lower this time next year.
I bet you one day next year, I'll be right.
dastardlydude67 3 years ago
Obama wins election. Israel attacks Iran by January. We havent seen anything yet !!
k3304 3 years ago
Do you think I can win a lottery ticket since you seem to be a very good psychic, please!
tealeh2 3 years ago
It's good...
graceson74 3 years ago
I like how well spoken he is. Calm and direct.
gjmvi 3 years ago
Fucking Cathleen Hays, I don't care who is fucking you,
anyways you're ugly BITCH anyways.
BUT, if you don't like
OBAMA get the fuck out of BTV,
NOT A BIG LOSE
.
2009Dolphin 3 years ago
How about them Cowboys huh? Good game.
evltoy 3 years ago
He got the crash of 1987 spot on. Well done, sir.
Thereafter, I think every prediction he made was wrong, at least until I started hitting the off-button whenever I saw him. He was at least 6 years out with one prediction. If you'd taken his advice you would have been bankrupted. Many times.
If I put in here once a week that a 30% fall is coming in the stock market, one day I'll be right. I hope a few million people read my book the next week.
MalinBellEnder 3 years ago
Thanks for your worthless advice. Please spare us from any future predictions.
TYX91101 3 years ago
Who, me or Prechter? I'd say our advice was equally worthless, it's just that he gets paid for his. Presumably, indirectly, by morons like you!
MalinBellEnder 3 years ago
Bob's readers are doing quite well. They're up 40% on stock investors, have little or no debt, and rent or own their homes outright. Sitting pretty. Sucker.
TYX91101 3 years ago 2
I think he is best for conservative buy and hold approach, rather than speculating. ie he can help us see if something is overvalued, but things can stay overvalued for a while
dfjpr 3 years ago
You may be right in the end, crusty, but it appears the deflationary outlook is looking quite good for now. Credit, Metals, Crude, Stocks, Real Estate -- ALL are in deflation.
Stands well with the contrarian outlook: when everyone thinks we're heading for rabid inflation, De-flation occurs instead!
grimesgw 3 years ago
no crash lah...
u all are too pessimistic: Surin
LucyVanPelt22 3 years ago
Great video and I'm with him all the way..BUT, someone maybe already wrote it?, why does he say bonds are the safest place to store your money? Future fiat currency? I believe that there is gonna be created a whole lot of inflation the comming months for all these bail outs, and that gold and silver would be the safest place(?)
arnejess 3 years ago
Perfectly said and true! We can't see the future, but it is damn clear what direction things have taken. Sad that few see it like you. Imagine you and others look up to see a boulder tumbling down a cliff. You say, "I believe that there is gonna be a loud noise. I suggest covering your ears." Sound advice, but expect the others to look confused or say things like, "The boulder will turn around and go back." "Boulders can't fall! The cliff is clearly rising." "Cover ears?! That is crazy talk!"
davidchenard 3 years ago
deja vu all over again
krstn05 3 years ago
Towards the end he said that oil was overvalued but it has risen in price by at least 50% since (measured in funny money but it has even risen in terms of real money) so I question the deflation argument but concede it will eventually come to pass. When though? After a hyperinflation?
888kevo 3 years ago
You are on the money pal. Robert Prechter is a genius and has been spot on more than many I know but this time he is missing all the useless pieces of paper(dollars) that have been printed and are still being printed and guess what, No one knows how much is being printed. Therefore the deflation theroy held true during all other crashes. These are Hyperinflationary period like you said.However, as banks go bust all commodities held on margins may temporarily retrace. Only to move much higher.
crustofthematter 3 years ago
google: 'x-waves and civilization'
wrb1957 3 years ago
We need to move industries from india and africa the land of free labor with aids to America, start mass production and become producers rather than consumers, china is just making load full of cash off us and we sit around saying it's worth it, but no, don't expect anything good from communists, they only think for themselves." Thumb down this comment if you are a dumb ass, but this is the only way to get our respect back and start earning money.
hohahohi 3 years ago
What industries do you want to move from India and Africa to America?
Dumb Fuck!
aTibetLover 3 years ago
like you don't know.
hohahohi 3 years ago
I really don't know what industries we need from India and Africa? Please enlighten me. Do you know where is Africa? I think you confused Africa with Asia.
aTibetLover 3 years ago
Idustries are factories that produce parts and all that stuff, Africa has few idustries which moved from US, Asia has a whole bunch of them since 1970s.
hohahohi 3 years ago
dude, I want to know what TYPE of industries have moved from US to India and Africa?
Please name a few of the industries you want to move back to US from India and Africa.
Help me out. I am really puzzled.
aTibetLover 3 years ago
just google search, I know Intel has huge plants in asia and africa nad only couple of small once in US.
hohahohi 3 years ago
You need to take a look at S&P charts that aren't either pulled from some left-wing loon site or out of your own ass.
Utter lies, Richard.
msbsevensixseven 3 years ago
My data comes from the CRSP database at the University of Chicago.
On January 19, 1993, the day before Bill Clinton was inaugurated the S&P 500 closed at 435.13. On January 19, 2001, the day before George Bush was inaugurated and Bill Clinton left office, the S&P 500 closed at 1,342.54. Today the S&P 500 closed at 1,423.57. That is up slightly since my post.
I am sorry if reality does not coincide with your distorted political views.
Richardgwm 3 years ago
Yep, you have a monopoly on "reality."
LOL, you're funny.
msbsevensixseven 3 years ago
Hi does anyone know if Candy/Hoover is quoted in stock market if so which one. I know not in britain ftse
michaelc6012 3 years ago
Now, he doesn't say anything about prospect for gold prices. If you talk about REAL value, gold is only worth what the hoarding instincts of the people value it at. REAL value is only in food, shelter and basic necesities and even those can be hoarded above our needs, so their prices can fluctuate above or below their real value. This is why 'real' estate is crumbling. but the price of 'basic' shelter will hold it's value better than gold in the long term.
beyond7 4 years ago
Bush, the worst president ever, looted our Treasury, borrowed money for a bogus war, debased our currency and future. But Lil' Dubya's oil-buddies are VERY happy. Stupid American suckers re-elected this corrupt warmonger in 2004. I bought gold at $280, and again at $540...leveraged. LOL How will Americans pay their medical bills if they get sick???
PervisJohnson 4 years ago 12
ok you bought a 1-10 ounce at $280 and another at $540, sold at the top $990,you made $25, GOOD job,do you also save baseball cards and pound puppies?
buyystocks 3 years ago
Actually buybacks, senior gold stocks have moved up ten times since the lows in 2001. That's in excess of an average of 100% per year held.
Beats holding Bear Stearns or Citigroup.;-)
LouisPaquette 3 years ago
Great trade! Of course, as with any investment, it's meaningless unless you have an exit plan. I have friends who've made a lot in gold / silver, but they are "bugs" and -- like most investors -- they're just going to hold on even as prices fall. Investing = trading, that's true wisdom for you. Read "Prechter's Perspective".
BrightAnarchist 3 years ago
RON PAUL is still a presidential candidate.He knows the economy.He will correct the Federal Reserve fraud and bring back the real American dollar they destroyed in 1913.The greedy demon banksters are stealing peoples homes across the country to pay for their malfeasance.Greedy corporate minions and rogue government rats are cashing in our dispair.The trillions wasted on the war resulted in loss of millions of innocents lives & death of the USA economy. No Amero,No NAU,no NAFTA superhighway!!!
ihouvanje 4 years ago 5
Sorry last comment was meant to be directed to:
JiveDadson (3 days ago)
You never heard Ron Paul say invest in T-bills, and you never will.
malcolmst 4 years ago
In the real world, banks don't care all that much for raccoons. The interest differential turns into shareholder equity, and eventually into the houses, jet airplanes, jewelry, food, etc. that are owned and consumed by the bank's shareholders.
JiveDadson 4 years ago
Unfortunately Jive I still see deflation coming. The FED can only encourage banks to lend - I just don't buy the printing money analogy. If banks get tight and consumers start to save - deflation starts. If you could show that I'm wrong here that would be great - then I'd feel much better about my gold. Maybe tommorrow.
jdcremin 4 years ago
"Unfortunately Jive I still see deflation coming"
That's only unfortunate for you.
scott715 4 years ago
If he was bullish on gold in 2005 and cannot apologize for it now, you have to question the guy's competence. Now he says treasury bills are "safe"? They'll safely lose value to inflation! Even the nominally inflation-protected government paper is no good, because they use fraudulent measures of inflation. Buy real things. Agricultural commodities, metals, etc.. Those are always going to be valuable.
JiveDadson 4 years ago
Oops. I meant, "If he was bearish on gold in 2005 and cannot apologize for it now, you have to question the guy's competence."
JiveDadson 4 years ago
Prechter believes the current driver is a deflationary environment not inflationary. ... and the FED believes this also, that's why the FED is lower the interest rate.
warcwulf 4 years ago
The Fed will do anything they can to prevent deflation - and they have tools they have not used yet. The money supply is increasing. Shadow Stats shows M3 raging out of control. Very importantly China and Japan hold well over a trillion in Treasury debt. If the dollar strengthens, they will use the opportunity to sell out of those positions. We already see foreign governments selling their treasuries and putting the dollars into US equities.
I can only see inflation, inflation, inflation.
JiveDadson 4 years ago
"What banks can you go to and get foreign currency certificate of deposits?" - EverBank. Also look at the Merkx mutual fund. But do you really want fiat money of any kind? They are all inflating, just not as much currently as the US dollar.
JiveDadson 4 years ago
I wonder if this guy would endorse Ron Paul. It's what he's been saying all along!
malcolmst 4 years ago 2
He does. :)
BrightAnarchist 4 years ago
You never heard Ron Paul say invest in T-bills, and you never will.
JiveDadson 4 years ago 2
Agreed. I was just thinking of what he was saying about stock values in terms of gold. With all the money the fed is printing, it's been hiding the market crash...
malcolmst 4 years ago 2
You are correct, but there's more to it. Although they do print money (monetizing debt), it's a very small amount compared to their role in facilitating credit. The inflation we've seen since 1982 is actually *credit* inflation, not currency inflation. Unlike currency, credit can dissapear in a deflation. It doesn't matter how much gold and oil go up, because both the monetary engine (credit) and the psychological engine (elliott waves) and turn on a dime. Read "Conquer the Crash".
BrightAnarchist 3 years ago
We are in a commodities bubble - it too will crash. How to time it? Portfolio managers are just now adding gold, people are starting to talk about gold everywhere, the last fool is close. If the "money" that is being pumped into the system was actually real then inflation would be a sure bet - but its not, its monetized debt - only on the computer. Money is lost constantly as interest (it must be replaced with more loans) The FED is fighting deflation not trying to keep the DOW up.
jdcremin 4 years ago
The commodities bull market may run for years and years.
JiveDadson 4 years ago
Agree. I don't think anybody knows how to time it but there is some truth in looking for the last fool. At some point the price will be too high and people will stop buying.
As you know - EVERYTHING depends on demand.
I'm guessing gold $2000 and then down. If deflation hits - all bets are off; there will be nowhere to store your money except in cash.
No reason why this depression would be any different than 1929.
jdcremin 4 years ago
Jim Rogers says gold could go to $3500. It all depends on how much the Bernankes of the world trash the currencies. It could go to $200 billion.
You deflation predictors puzzle me.
JiveDadson 4 years ago
How so? 95% of money is debt. Just think of how the FED "injects liquidity" and you'll understand - they encourage banks to lend. So, what happens when banks stop lending or people stop going into debt? Money creation stops -yet - money is being lost at all times from interest, repayment, and default. When a loan is paid back, money disapears because it was only on the computer to begin with (monetized). google video - "money as debt" if you need basics (no offense).
jdcremin 4 years ago
You have to understand the idea that - all debt is monetized (or "only on the computer"). Thisis a result of fraction reserve lending (or no reserve lending really) - they don't have the reserves so IT MUST BE CREATED. There is interest attached which must be paid (servicing the debt). Where does this extra (interest) money come from? If you look at the big picture, you'll see that money must be cont. created (as debt). Cont -
jdcremin 4 years ago
When banks slow lending (loss of assets/reserves from housing bubble?) or people/buisness decide to save and not to go into debt - what happens? Its the worst thing that could - DEFLATION secondary to money contraction. The monetized money continues to be sucked into the banks (and disapear). That's about the best I can do -many good videos explaining it. Robert Prechter does a good job in "Conquering the Crash"
jdcremin 4 years ago
I have watched "money as debt" several times. There are some bad mistakes in it, BTW. (No offense.)
Interest payments do not extinguish money. The bankers and their stock holders keep it.
I believe Bernanke will do whatever he must to reflate. He has devised lots of ways of doing it beyond buying t-bills through the FMOC. The term auction facility is just the first of the tricks he has up his sleeve.
JiveDadson 4 years ago
If 100,000 is lent and 110,000 is paid back, where did the 10,000 come from? When the 100,000 is repaid - the net is 10,000 to bank - taken out of circulation. If you assume that all current money is created from loans - you see the probem. The FED can only buy or sell govt securities or change the reserve requirement - that's it. Did you want to tell me what the mistakes were?
jdcremin 4 years ago
Part 1) "If 100,000 is lent and 110,000 is paid back, where did the 10,000 come from?"
It can come from the exchange value of goods and services. It is explained very well in The Creature From Jekyll Island. Bankers and shareholders spend the profits from the difference in the interest they receive and pay out.
JiveDadson 4 years ago
So there are profits - they recieve more interest than they return. This profit is real money and has to come from somewhere. We started with lending 100,000 - now the bank has say 107,000 after loan repayment. From where did the 7000 come from? It had to come out of the money pool of the population. Now you have a net loss of 7000 from the society.
jdcremin 4 years ago
I already explained, or tried to. It's hard to do in 500 words. It is sometimes difficult to refute an argument, because you have to construct a counter-example in addition to pointing out the flaw in the premise or logic. Read The Creature From Jekyll Island. It's a good book. I'm going to make that video one of these days.
JiveDadson 4 years ago
Good luck. I'll try one more time if you don't mind. Pretend no money exists except 100,000 in the bank. A guy takes a loan for the 100K at 10% and repays 110K. See a problem here yet?
jdcremin 4 years ago
That is almost exactly the example that The Creature From Jekyll Island uses. Only the amounts differ. Do yourself a favor and read it. It's a little conspiracy-theoryish, but contains lots of facts. And it's fun to read.
JiveDadson 4 years ago
That example is impossible. I will play along though. He could pay 100 out of the money he borrowed. Maybe ten bucks of that would go toward interest. He then goes to the bank and contracts to mop their floor for ten dollars. Rinse and repeat.
JiveDadson 4 years ago
At the end of the process, all the money is extinguished, but the banks have nice clean floors.
JiveDadson 4 years ago
Ok - you're right. Damn, gonna have to re-think things. What about when loan repayment or default is higher than new loan production? That has to be a net loss in money.
I have that book- will read it.
jdcremin 4 years ago
Hooray! I remember the same ah-ha moment. When you learn something new, you win once. When you learn something new, but also throw off a misconception, you win twice. I am still a long way from understanding finance as well as I want to. I used to find it very boring. But after I saved my money for 24 years, and saw the bankers destroying it, finance suddenly became much more interesting.
JiveDadson 4 years ago
Thanks for the education. Just subscribed to your site. Do you have a video on whether we should worry about inflation or deflation? I recently changed to worrying about deflation after reading Conquer the Crash.
jdcremin 4 years ago
I do not have a video on that subject. I tend to believe that Jim Puplava knows his stuff. Check out the Financial Sense News Hour online. There was a series called "Dying of Money" that you might want to listen to. Gotta go now.
JiveDadson 4 years ago
One more thing, and I've really got to go. I am not familiar with "Conquer the Crash," but a quick google shows that it came out in 2002. The market did go down after that, particularly the dot-com and tech stocks. But the last 6 years have been marked by extreme monetary inflation and bubbles - the housing bubble, and now the still pumped up bond bubble. I would look to someone with a better track record. He was bearish on gold in 2005. That's hard to explain away.
JiveDadson 4 years ago
I believe Prechter's outlook on stocks is that they actually HAVE been crashing (measured against gold and commodities) since before his book came out; you just couldn't see it until now because of the massive amount of credit inflation. Back in a Dec. '06 video he put out, he called it the "Silent Crash." I read a lot of his stuff, and he always emphasizes that throughout history nominal values will always catch up to real values. That appears to be what we're seeing now.
grimesgw 4 years ago 2
You know what? I don't know nearly enough about this guy to dismiss him.
JiveDadson 4 years ago
Is there any reason to wonder where the extra $10 came from? In a closed system, with just the bank and the janitor, where does he get the interest payment from? In your example, the $10 dollars comes from the payment for service - right? I'll read Jekyll Island.
crem88 4 years ago
I guess you have to start with some money already in circulation.
jdcremin 4 years ago
"Good luck. I'll try one more time if you don't mind. Pretend no money exists except 100,000 in the bank. A guy takes a loan for the 100K at 10% and repays 110K. See a problem here yet?"
The guy is a raccoon hunter. He charges $1 per raccoon. Whenever he pays $1 in interest to the bank, the bank buys a raccoon from him, and pays him with the dollar. When the loan is paid off, all the money is gone, but there is a pile of 10,000 raccoons at the bank. The interest turned into raccoons. Got it?
JiveDadson 4 years ago
Part 2)
The simple example that Creature gives has a fellow borrowing from the bank, then working for the bank mopping its floors. The bank pays him out of the interest he pays to them. He pays the interest he owes by mopping.
I see this so often that I think I will do a video about it.
JiveDadson 4 years ago
If you follow his advice and put everything in tbills and you do get hyperinflation, you lose absolutely everything. Foreign currencies form some protection, but there are global competitive devaluations going on right now. This means if CB policies continue, at one point people will run away from devaluing cash. In Zimbabwe they are still waiting for the credit contraction
modelmark 4 years ago
and so the safest is gold and silver. accepted and known worldwide, protects against devaluation of the dollar and inflation. this is why precious metals is on the up slope
Twinaces22 4 years ago
They key is that the FED/Banks are not pumping out paper currency, they're pumping out debt - monetized or computer money. It doesn't exist. Only 5% of money is paper. So when loans are defaulted on, that money just disapears hence deflation. The FED is fighting deflation by dropping interest rates. Once loans stop, money gets sucked into the banks via interest until there is none left. A few rich people will have cash (Cheney has 25 mill in bonds) - then the buying begins.
jdcremin 4 years ago
It is strange that he didn't noticed the factor that during previous crises dollar was the only international money, today it is also euro. It is often that Americans analytics ignore European Union (GDP equal to US but in euro;), deficit about 3% GDP, constant growing )...
In my opinion it is rather important factor in global analysis witch didn't existed earlier..
34ms 4 years ago
Does anyone know where you can make investments in what Prechter calls "Swiss Money Market Claims" and "New Zealand paper"? I cannot see how Gold and Oil will go down in value when the fed is pumping out paper currency like there's no tomorrow. I would think this was an inflationary problem not deflationary. Irregardless, does anyone know where and/or how to make the investments he suggested?
ArchaicRevivalx2012 4 years ago
Perhaps by "New Zealand paper" he just meens the currency. I know that in the banks where I live, you can get 7% interest on time deposits of New Zealand dollars.
andrewelo 4 years ago
What banks can you go to and get foreign currency certificate of deposits?
ArchaicRevivalx2012 4 years ago
EverBank
warcwulf 4 years ago
EverBank and Merkx. Seven months ago, I had half my net worth in Merkx, but I reduced that to almost zero. I invested in a lot of commodities - mostly gold and silver, but also corn, wheat, soybeans, cotton, sugar, soy bean oil. So far so good. I am looking into other things now. It's not easy, keeping the central banks from robbing you.
JiveDadson 4 years ago
Everbank doesn't give you a good interest rate for the foreign currency involved. Ie. New Zealand Dollars gives you 9% on CD's. Everbank only gives you 7% and probably keeps the difference. They also charge up to 1% on changing your dollars to the foreign currency. I'm not sure, but they could also charge you 1% to change from foreign currency into dollars. For example, lets say you have 300k. They may charge up to $3,000.00 for the currency exchange in and out or 6k. I could be wrong.
gto400hp2006 4 years ago
1.25 basis points in two weeks and still a drop at end of day. That's SERIOUS. This market will CRASH. (!)
horny4Utube 4 years ago
Yeah Australia's fucking awseome; the last thing we need is fucking Americans. CFan't trust half of those greddy zionist bastards.
I would detract everything above should RON PAUL get in.
PS Next money bomb 1 Feb
Tockers84 4 years ago
agree with the ron Paul but not with that we are zionist. Most people that i know dont like jews but they also alot of people are ignorant and dont know the whole story. My generation is starting to wake up though. Ron Paul wont be elected. Even though i want it to happen its not going to. Right now im just waiting on the North American Union to try to get started when they crash our economy witch i am not thrilled about to say the least.
shaggs112887 4 years ago
stay away from Australia, we got problems of our own
saints353535 4 years ago 2
It's not the end of the world. It's just a bear market. It's all part of the natural order - the forest is burned to make room for new growth.
TYX91101 4 years ago
A natural order being artificially stimulated by Plunge Protection Teams thus causing inflation.
The natural order is laissez faire capitalism.
unclejimbawb 4 years ago 2
No PPT or Fed can stop nature. Just watch the forest burn down. As sure as spring follows winter.
TYX91101 4 years ago
PPT will only cause a slight change but the waves are gonna keep their course.
cadelevans 4 years ago
"The natural order is laissez faire capitalism."
Well said, I couldn't agree more.
BrightAnarchist 3 years ago
Laisses faire=comunism idiot! Have a look at America's curve of Lorenz.
dollarsuckseurosdick 3 years ago
we ahve way to low interest rates end the federal reserve
alansready 3 years ago
vote for freedom vote bob barr. we need to make this dollar stronger and end the federal reserve.
alansready 3 years ago
Not the end of the world... yet resources are depleting, the earth is warming, and the money to fix it all is flowing down the drain.... but it's all good, eh?
kkob 4 years ago
our dollar has never been this low and its not backed by anything what do you mean its natural our American dollar is worthless!!! Our market is going down because of it. It doesnt matter how many points you think the market is going up if you dont equate in how much our dollar has dropped in relation to commodities and stocks. 41 ounces of gold bout 1 share of the dow 30 years ago. close to 12 ounces of gold buy 1 stock of the dow come on lets be realistic and look at the numbers.
shaggs112887 4 years ago
RON PAUL!!!!!!
djfirm420 4 years ago 3
Satan does not exist, so stop the nonsense comments.
cadelevans 4 years ago