GoldSeek Radio: Bill Murphy and Rob Kirby, and Chris Waltzek

Rob Kirby of Kirby Analytics sees extreme risks ahead for the financial markets via a shattered US accounting system.
The missing $21 trillion dollars (size of US National Debt) in government funds, is possibly held by the exchange stabilization fund (PPT).
One likely use for the missing funds could involve the purchase of new US Bond issuance's, given the few foreign purchases of US debt.
Utlimately the fiat money shell game will lead North American citizens to an unsavory financial-reset in similar fashion as Cyprus / Poland.
Our guest proposes the perfect financial panacea to avoid the next MF Global scenario but on an epic scale; precious metals investments.
The precious metals may not remain at vastly discounted prices but will soar to unfathomably high levels putting the price beyond the means of virtually everyone; so carpe diem, aurum, seize the gold, today.

Bill Murphy of GATA.org returns to the show with fresh insights on the PMs rally.
A new precedent was set within the Central Bank realm this week with the Bank of England refusing to honor its custodial arrangement.
The BOA refused to return 14 tonnes of gold held on behalf of Venezuela (MaCleod, Goldmoney, 2018).
Standard anti-money laundering concerns were cited for the refusal, "We don't trust you, so we'll hold on to your gold for now, old boy."
The dissent among the ranks could send reverberations throughout the system and perhaps the financial markets.
Meanwhile, as the unfortunate FANG stock pullback continues, with Facebook (FB) off nearly 50% from the July 2018 peak.
The longest remaining Dow Jones Industrials component, General Electric (GE) plunging from over $30 last year to $8 today.
Investors adhered to the key hallmark of every successful portfolio, diversification, leading to increased inflows into gold ETFs (figures 1.1-1.3).
Enhanced Modern Portfolio Theory via Long-Memory Regimes (Waltzek, 2016), (EMPT) proved scientifically the significance of price trends.
The represents the most accurate estimate of future value, as the price contains 99% of pertinent information, the best guess of the top minds.
Recent headlines indicate that the oldest remaining Dow company, the hallmark of US Corporate America, General Electric, GE is struggling.
However, although GE could be ejected from the Dow 30, just a year ago the former Blue Chip was a high flyer.
As if on cue, the negative price trend change resulted in a collapse from from $25 to $8.
Yet according to competing theories of EMPT, the warning signs not only did not exist but should be ignored, de facto evidence that MPT requires revision, i.e. EMPT (figures 1.1-1.3).

Rob Kirby

Kirby Analytics

Rob was born in 1960 in Halifax, Nova Scotia and moved to Toronto, Ontario with his parents when 11. He received his post secondary education at York University [Economics] in Toronto. When he finished his degree, he went to work in the financial district [Bay St.] in Toronto. He worked on an institutional trading desk for most of the 1980s and right up until 1996. He also worked for 11 years at Prebon Yamane, an international inter-dealer broker of foreign exchange and interest rate products. He spent an additional year at another money/bond broker called Freedom Bond Brokers [which has subsequently been bought out by Cantor Fitzgerald], then spent two years at Garban Inc., another inter dealer bond brokerage in Toronto - and left the industry in 1996.

He started writing in 1997, and was involved in a number of entrepreneurial pursuits from marketing Buffalo meat to a part time stint in the giftware business. In 2002, he went to work for Investor's Group, the largest Mutual Fund Company in Canada. He worked there up until September '04 when he resigned to write about the markets - and his book - from a "gold bug's" point of view.

Website: click here.

Bill Murphy

GATA.org

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.


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