Show Highlights

• Peter Schiff, head of SchiffGold, Euro Pacific Capital, and Euro Pacific Gold Fund (EPGFX) joins the show from his vacation office in tropical Crypto-Rico, where air conditioning service, not heating is the chief concern today.
• Key takeaway - gold is building a base that will likely culminate in new record prices, from $2,000 - $5,000 and under extreme conditions, $10,000+.
• Part I. of the talk includes key topics: PMs, US Equities Bear Market, Crude Oil and general commentary on the US economy.
• The guest / host outline their thoughts on how to "Make America Great Again," via a coordinated revamp of the current tax structure and encouraging private charities.
• The design set forth by the original Scottish Church charities for widows / orphans over 250 years ago, remains a most productive charitable system.
• Part II of the discussion involves an in-depth debate on the merits / challenges facing cryptocurrency market investors, slated for next week.
• Our guest notes that gold reached a bear market nadir in 2015 and is building a base for a new bull run.
• Conversely, the US equities market could be entering bear market territory.
• Given that an economic downturn is overdue by several years, both the guest and host concur, 2019 will likely register two quarters of declining US GDP.
• 2019 could register the first official recession in one decade.
• The big wild card remains the upcoming G-20 showdown between the US POTUS and China’s Jinping.
• The G-20 summit takes place in Argentina, where leaders will negotiate to resolve trade tensions.
• The United States could tariffs on 25 percent on $200 billion of Chinese imports on Jan. 1 from 10 percent currently, unless U.S. concerns are resolved at the summit.
• China, a large gold buyer, has suffered economically from tariffs, in particular industrial manufacturers and suppliers.
• Whereas US pundits note that the balance of power in the trading arena has been so skewed against the US for so many decades that tariffs might be necessary.
• Market watchers hope for improved relations between the two global economic superpowers, which would likely put a floor under equities.
• Investors continue to pour funds into the The SPDR Gold ETF (GLD) as a hedge against what could be a new bear theme in US equities.
• GLD has seen a surge in assets over the last month; the largest gold ETF received $600 million, a sizable one month increase.
• GLD ETF recorded big interest from investors in October due to rising market volatility, with $472.3 million in inflows for the calendar month.
• The Fed is approaching the end of its rate tightening cycle, with the ECB announcing plans to begin quantitative tightening.
• Many markets priced to near perfection for at least 12 months, against the backdrop of employment and inflation at multi-decade lows.
• Today the Fed Chairman Powell gave a key speech on the latest FOMC meeting minutes.
• Current FFF contracts at the CBOE indicate Fed policymakers will hike rates once more this year, next month and at least 3 three more hikes in 2019.
• The PMs markets could receive trillions of dollar from pensions funds that have less than a fraction of one percent in the yellow metal
• Nick Barisheff of Bullion Management Group is recovering from an illness; please forward get-well messages to Marty, M.Nicandro@bmg-group.com.

• In Part I. of this discussion with Bob Hoye of Institutional Advisors includes a startling sea change in attitude towards the PMs sector.
• After years of bearishness, Bob Hoye announced the potential for an epic GOLD RUSH on the horizon in the PMs sector, in particular, the mining shares.
• Lower expenses and deflation in typical shares enhance their appeal of PMs equities to the benefit of shareholders.
• 10 million percent inflation is expected in Venezuela, as forecasted by the IMF in a Reuter's article on GATA.org.
• Today, $300,000 could soon be required to purchase a $3 loaf of bread, just 2 years earlier and a gold coin $120,000,000 or $120 million!
• Parallels are drawn between the numerous inflationary fiasco's from the genesis of civilization until today, including Ancient Greece, Rome, China.
• 100 years of inflation occurred during the 1700's in France, perhaps best illustrated by the easy to read, Fiat Money Inflation in France (White, 1876),
• In the last century, hyperinflation ravaged the economies throughout Europe as well as Zimbabwe.
• Today Venezuela is unraveling amid runaway inflation, and Argentina is on the cusp of hyperinflation at 32%, while Brazil is on the inflation watchlist.
• Just as gold and silver shielded purchasing power millennia hence, the perfect panacea for hyperinflation today remains PMs investments.