-- Published: Sunday, 11 September 2016 | Print | Disqus
Sep. 9, 2016
Featured Guests
Bill Murphy & Bob Hoye
Summary
Bill Murphy of GATA.org returns to the show with insights on the PMs sector.
The gold cartel continues to be the key shadowy force behind downward price movements in the PMs sector.
Physical supply constraints are hindering their efforts, as evidenced by the sharp recovery in price in recent weeks.
The dialogue includes news from Sydney Australia via GATA.org, that gold miner, Resolute is offering shareholders the option to receive gold bullion dividends.
The shares skyrocketed several fold in recent months since the announcement.
Recent commentary from Dr. Stephen Leeb implies that China's banks are accumulating large inventories of gold, to satisfy new IMF regulations.
Our guest thinks gold represents the de facto investment opportunity.
Bob Hoye, senior investment strategist of Institutional Advisors returns with comments on the financial markets.
Our guest is monitoring the gold to silver ratio closely, noting the predictive powers, similar to a credit spread or yield curve.
Every investment portfolio must include gold / silver assets; the perfect insurance against global money printing.
According to a Labor Department Report, the US jobs included 100,000 fewer than anticipated, implying that the Fed has less wiggle room to raise rates.
The Fed remains the only hold out among the central banking trifecta to keep rates above zero, i.e., the BOJ, ECB.
John Williams latest figures at Shadowstats.com, the true national unemployment rate is approaching 25%, the worst since the Great Depression.
The reason for the discrepancy is that officials no longer consider the 95 million discouraged workers as part of the tally.
Tame energy prices offer gold / silver miners a competitive advantage, as energy is a major production expense.
Bob Hoye outlines why the precious metals sector will eventually be the hottest venue in the financial world, at least doubling from current levels.
Bill Murphy, GATA Chairman Murphy grew up in Glen Ridge, N.J., and graduated from the School of Hotel Administration at Cornell University in 1968. In his senior year he broke all the Ivy League single-year pass-receving records. He then became a starting wide receiver for the Boston Patriots of the American Football League. He went on to work for various Wall Street brokerage firms and specialized in commodity futures. He began as a Merrill Lynch trainee and went on to Shearson Hayden Stone and Drexel Burnham. From there he became affiliated with introducing brokers and eventually started his own brokerage on 5th Avenue in New York. He now operates an Internet site for financial commentary, www.lemetropolecafe.com.
With a degree in geophysics and a number of fascinating summers in mining exploration, one winter in "the bush" quickly led Bob into the financial markets. This included experience on the trading desk and in the research department of a large investment dealer, which led to institutional stock and bond sales.
Bob's review of financial history provided the forecasting models designed to anticipate significant trend reversals in the sometimes alarming volatility typical of the transition from rampant speculation in tangible assets to fabulous speculation in financial assets.
In anticipation of the latter opportunity, a monthly publication for financial institutions was started in January 1982.
This competently covered the stock market, the yield curve, credit spreads as well as metal and energy prices.
In 1998 the Institutional Advisors website was started as a forum for unique and reliable financial research.
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