-- Published: Monday, 7 September 2015 | Print | Disqus
James Turk & Peter Grandich
James Turk of GoldMoney.com returns to the program with less than sanguine comments on the equities markets.
A 2008 credit crisis redux appears imminent, due to reckless debt levels, domestically and around the globe.
Our guest says the Fed may raise rates by a token percentage this month and in December, and if so, the blowback will be monumental in scale, perhaps even toppling the entire economic edifice.
He's convinced that the PMs sector is nearing a sustainable nadir, on the heels of a 2 year consolidation.
Silver should lead the charge out of Dante's inferno.
The new bull market could reinvigorate mining company operations, in particular major producers with excellent earnings and solid dividends.
Peter Grandich rejoins the show with thoughts on geoeconomic events.
The PBoC shifted policy recently, selling $315 billion in US Treasuries from their $3.65 trillion reserve in support of the ailing Yuan currency and equities.
Clearly one of the wisest of the global central banks has lost faith in the Fed, ahead of the first US benchmark rate hike since 2006, nearly 10 years.
Higher rates dilutes the intrinsic value of existing US Treasuries, as newer issues offer greater expected return.
Our guest views the event as emblematic of a global crisis of confidence in centralized economic planning.
Intervention via the plunge protection team (PPT) was responsible for the 500 point rebound following the 2,000 point, 2-day deluge in the Dow Industrials.
In his 30 years on Wall Street, he's never seen so much negativity on the sector, a good sign that the ultimate nadir could be close.
His technical work suggests that a solid break above $1,200 gold could lead to a brisk move to $1,300 - $1,400, in lightning fashion.
The host adds a cautionary note, that the onset of the last PMs bull market offered ample time to accumulate positions - in similar fashion, there should be no rush to overweight a diversified portfolio.
About Peter Grandich Managing Member, Grandich Publications, LLC.
With no formal education or training, Peter Grandich entered Wall Street and within three years was appointed Vice President of Investment Strategy for a leading New York Stock Exchange member firm. He was the editor and publisher of four investment newsletters, and appeared on national TV and radio over 400 times.
Labeled the Wall Street Whiz Kid, Grandich gained national notoriety by being among the very few who not only forecasted the 1987 stock market crash just weeks before it happened, but on the very next day he predicted that within a year the market would reach a new all-time high which it did. Proving his 1987 forecast was no fluke, Mr. Grandich said in January 2000 that the year 2000 will go down as the year the great mega bull market of the 80s and 90s came to an end.
He speaks at numerous major investment conferences worldwide and was awarded Best Speaker Award eight times by the International Investors Conferences.
Grandich is the founder and managing member of Grandich Publications, LLC. Grandich Publications publishes The Grandich Letter. First published in 1984, it provides commentary on the mining and metals markets. In addition, the company also provides a variety of services to publicly-held corporations on a compensation basis.
In addition, Grandich is a member of the National Association of Christian Financial Consultants, and a long-standing member of The New York Society of Security Analysts and The Society of Quantitative Analysts.
James Turk is founder of GoldMoney.com, which operates the leading digital gold currency. He also publishes the Freemarket Gold & Money Report, an investment newsletter he founded in 1987. Previously, after a decade with the international department of Chase Manhattan Bank, he managed the commodity department of the Abu Dhabi Investment Authority. His media appearances include GoldSeek.com, CNN, Bloomberg, CBSMarketWatch, CNBC, Barronís, the Wall Street Journal, and Financial Sense Online.
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