-- Published: Monday, 16 November 2015 | Print | Disqus
James Turk & John Williams
(guest order - alphabetical)
Summary:
James Turk of GoldMoney.com returns to the program with less than sanguine comments on the domestic economy.
Half of 25 year olds in the US are living in their parent's homes, struggling to make ends meet.
The statistic is emblematic of the erosion of the economic affluence of the middle class.
The issue stems from lost purchasing power of the currency, resulting from profligate monetary expansion.
When income is adjusted for inflation and related expenses, most employees earn far less than medieval serfs.
The desperation of the situation is exacerbate by the off-shoring of tens of millions of high paying jobs, due to NAFTA and related policies.
The persistence of gold backwardation (current spot lower than future price) should not occur, as it presents an arbitrage situation.
Since 2000, gold has appreciated over 11% on average each year and held it's purchasing power much better than most competing asset classes.
The US dollar is lower, while stocks and bonds have hardly budged since that point, while gold has ascended at least four fold, $250 to over $1,000.
Economist John Williams of Shadowstats.com returns to the show.
The true underlying economic situation, hidden within the "official" economic data, is less than encouraging.
The typically cool-headed and collected economic-sleuth is unnerved by Fed policies.
His work indicates that the economy never recovered from that ominous period, resulting in the current stagnation.
Our guest echoes American economist Dr. Frank Knight who noted: economics is simple.
John Williams uncovers fingerprints of gold market manipulation / rigging, likely stemming from official sources.
His analysis indicates a US dollar endgame scenario of less than sanguine consequences.
The host suggests an alternative hypothesis: the PBoC is aggressively promoting China's Yuan currency to the IMF, as a global reserve currency alternative, as seen by the recent currency pegging to the Swiss Franc.
Therefore, dollar strength resulting from imminent US rate hikes in 2016 and dovish moves by the ECB, PBoC and the BOJ, are responsible for most of the 12 month dollar rally and resulting commodities weakness.
John Williams and the host agree that the perfect panacea for the typical investment portfolio remains PMs, the ideal insurance policy.
John Williams Shadow Government Statistics is a monthly electronic newsletter that exposes and analyzes the flaws in current U.S. Government data and reporting, as well as in certain private-sector numbers. It also looks at the financial markets free of the hype so often put forth in the popular financial media. Generally published on the second Wednesday of the month, the newsletter is supplemented by Flash Updates and occasional Alerts that highlight unusual developments. The publication includes regular analysis of:
* The prior month's reporting (employment/unemployment, CPI, GDP, retail sales, housing statistics, factory orders, trade balance, consumer confidence, purchasing managers' survey and others) including estimates of actual results net of any reporting biases.
* The coming month's reporting, highlighting unusual circumstances and biases that could bring results in above or below market expectations.
* Economic series that are relatively free of reporting biases and what they indicate about the economy and inflation.
* Special features detailing the background of government series not previously explored in the newsletter, along with updates to changes in reporting methodologies for all major series.
*Markets Perspective -- part of the regular newsletter -- where the financial markets are assessed net of ongoing hype from Wall Street, the Federal Reserve and the Administration.
* Alternate Data Series -- covering the CPI, GDP and a continuing version of the discontinued M3 series -- are available for downloading by subscribers.
Subscription Rates: $89.00 for six months, $175.00 for twelve months.
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, Barron’s, the Wall Street Journal, and Financial Sense Online.
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