John thinks, for the average person trying to decide how to feel about the economy, the single biggest data point is the stock market. When share prices are rising, the implicit message is that finance professionals — who, after all, dedicate their lives to understanding such things and should therefore know what’s happening — have decided that life is good and getting better.

So the rest of us relax and go shopping. Known as the “wealth effect,” this tendency of asset prices to affect consumer behavior is now a key policy goal of the US and pretty much every other major government.

But what if it’s all a gigantic, multi-trillion-dollar con? That’s the conclusion a growing number of analysts are reaching as they dig into the reality behind the recent record highs in US equity prices.

Direct download: John_Rubino_14.Jul.14.mp3
Category:general -- posted at: 5:29 PM
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While visiting Freedomfest we were fortunate to interview the acclaimed author P.J. O'Rourke, who's written 16 books. I remember first reading Parliament of Whores 25 years ago. I knew then that I was experiencing greatness. P.J. has the ability to find humor in almost any subject, whether it's a brutal war, or an over the hill demented politician. His ability to craft a sentence to get the maximum affect laughter is truly amazing.

He believes that every person was born a libertarian. And yet through some process we get corrupted and lose that desire for personal freedom. He's not sure why, but eventually some us find our way home and wind up at a conference like Freedomfest, rejecting the concept of unlimited government. 

Direct download: pj_orourke14.Jul.14.mp3
Category:general -- posted at: 4:47 PM
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Andy Schectman has been a bullion dealer since 1991. He's encouraged by the recent turn around in gold and silver prices. However, he's wary and wants to see prices advance further. Until then he urges caution, but he believes that you buy when prices are favorable, not when they're high. Right now metals prices are very attractive. 

Direct download: Andy_schectman14.Jul.14.mp3
Category:general -- posted at: 3:57 PM
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For those seeking the ultimate escape when it all hits the fan here in the US, there's a place in South America where they speak English and the weather is perfect almost all the time, Belize. Best of all, Americans can still open a bank account there. It's worth considering. 

Direct download: orchidbay_11.Jul.14.mp3
Category:general -- posted at: 6:44 PM
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Anthem Hayek Blanchard has a long history in the precious metals industry. His middle name is in honor of the famed Austrian Economist and his uncle was a pioneer in private gold ownership. Precious metals run through his blood. Therefore, he's enthusiastically started the first gold backed crypto-currency. While there's not much backing, it could be the start of a major trend. We'll be watching. 

Direct download: anthem_vault_11.Jul.14.mp3
Category:general -- posted at: 6:14 PM
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Douglas E. French is a Director of the Ludwig von Mises Institute of Canada. Additionally, he writes for Casey Research and is the author of three books. We talked about what's going on with markets and malinvestment around the world. How long before the next crash? No one knows for sure, but time is running out. 

Direct download: Doug_French_11.Jul.14.mp3
Category:general -- posted at: 5:44 PM
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Gold and silver are much higher this morning. Looks like the Black Swans are circling Portugal and Europe's banks once again. The price is just about at Charles Nenner's 1342 peak for July, but it still could go higher. A trend in motion... We've got some interesting facts about fracking, especially it's possible relation to increased seismic activity in Oklahoma. Live interviews from Fredomfest are comin soon. 

Direct download: Whats_Next_7-10-14_.mp3
Category:general -- posted at: 3:17 PM
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Our weary petroleum engineer Dr. Frack returns with some interesting news. Seems like the oil industry has become too fixated on quarterly results and is ignoring some troubling safety issues. Not earthquakes in Oklahoma or gas coming out of your kitchen faucet. No we're talking about H2S gas that has the potential to kill people. Dr. Frack is fed up with them cutting corners. We're not talking about the inherent dangers of fracking, we're talking about risky behaviors that companies engage in to save money. There's a big difference. 

Direct download: Dr_Frackenstein_09.Jul.14.mp3
Category:general -- posted at: 10:13 PM
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FOMC minutes get released showing a desire to end QE in October and the price of gold spikes shortly thereafter. What's with that? Is somebody sending the Fed a message that they no longer control the price of gold? Just a thought. Then we have Dr. Frackenstein back to talk about life in the oil patch. There's opportunity in North Dakota if you can stand the place. There's an emerging danger that the industry isn't facing up to from H2S that we get the scoop on. And more. 

Direct download: Whats_Next__09.Jul.14.mp3
Category:general -- posted at: 10:09 PM
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Tom Dyson publisher of the Palm Beach Letter was back on with us. As with many, he's perplexed by the seemingly endless rise of the stock market. However, that hasn't stopped him from searching for bargains. He likes Goodyear because it's cheap and has an excellent brand and also because it's in the replacement tire market, which is poised for growth. Tom is also bullish on precious metals. He thinks they very well may have turned the corner, but isn't totally convinced, but who is? 

Direct download: Tom_Dyson_09.Jul.14.mp3
Category:general -- posted at: 9:06 PM
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Michael Krieger joined to discuss various memes taking place in society. Right now someone is claiming that the terrorist group ISIS plans to use Bitcoin to finance it's operations. Absurd on its face, the story is getting traction. We also discussed the Facebook mood experiment where they attempted to manipulate user moods by the content of their newsfeed. Who do you think was behind that one?

Direct download: Michael_Krieger_08.Jul.14.mp3
Category:general -- posted at: 7:46 PM
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We caught up with John Manfreda. Something is up with the Fed and QE. Will they phase it out and just force the banks to step up consumer lending regardless of the risks? This might be the case. Banks are issuing new credit cards like there's no tomorrow. It won't end well. It never has before. But it has to be good for gold. 

Direct download: John_Manfreda_08.Jul.14.mp3
Category:general -- posted at: 7:44 PM
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There's a disaster taking place on the southern border. Ten's of thousands of Central American children are crossing it based upon rumors of amnesty circulating around their countries. Will they be allowed to stay in the USA? Of course there are other problems with the immigration debate, what to do with the illegals already in the country. John believes that children who were raised here should be granted citizenship. Adults, however, are a different story. They should receive a green card and nothing else. Allow them to pay taxes and work legally, but no citizenship and no vote. 

Direct download: John_LeBout_08.Jul.14.mp3
Category:general -- posted at: 3:11 PM
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Manipulation Mondays with Andrew Hoffman

  • Jobs report crap;
  • Hard data versus diffusion indices;
  • Unemployment rate;
  • 2.0 inflation rate;
  • Spreading unrest around the world and inflation exported by the Fed;
  • Increasing anti-dollar talk by France and Total;
  • European Banks starting to fall;
  • Banks runs in Bulgaria and Austria;
  • India and Gold Swap and regulation changes.
Direct download: Andy_Hoffman_07.Jul.14.mp3
Category:general -- posted at: 6:06 PM
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Just as expected, the holiday is over and as predicted the expected precious metals raid came right on schedule. But nothing much happened. Precious metals raids just aren't what they used to be, like so many things today. 

Direct download: Whats_Next_07.Jul.14.mp3
Category:general -- posted at: 5:18 PM
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As incomes stagnate and prices rise, a growing number of Americans face a tough choice: either descend a couple of rungs on the lifestyle ladder or borrow to keep it together. Many are apparently choosing door number two.  "Americans are getting into debt to afford food, gas.Nowhere has the unequal nature of the post-banking-crisis recovery raised more concerns for the long-term sustainability of the U.S. economy than in the clear rise of non-discretionary consumer credit. While the “haves” have fully returned to their pre-crisis behavior of paying for everything from higher education, cars and luxury homes with cash, and fully leveraging their investment portfolios, the rest of the consumer sector has changed dramatically over the past six years."

 

Direct download: John_Rubino_07.Jul.14.mp3
Category:general -- posted at: 3:37 PM
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David Morgan of The Morgan Report believes that if a precious metals raid is coming, it will come on the Monday after the July 4th holiday weekend. So far today, he's looking pretty right. He thinks that we've seen the bottom in the metals markets and that the trend is up from here. The mining stocks will find their way again. The key is to diversify into a number of them. That way if one or two fail, you'll still be positioned to realize tremendous profits. After all, since the Crash of 2008 nothing has been fixed. We're on our way to something potentially worse. So get ready now. 

Direct download: David_Morgan_03.Jul.14.mp3
Category:general -- posted at: 7:08 PM
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Dr. David Janda gives us the real scoop on Obamacare and it's not very encouraging. Much of the agenda was actually buried in the infamous Stimulus Bill. What we're finding out about now, Dave actually warned us about years ago. Now the chickens are coming home to roost. We talk about other things that are happening around the country and the globe. Be prepared!

Direct download: David_Janda_03.Jul.14.mp3
Category:general -- posted at: 6:06 PM
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Everything was up for the month except the dollar, the 10 year, Henry Hub and Bitcoin. 

Direct download: MIckey_Fulp_03.Jul.14.mp3
Category:general -- posted at: 4:19 PM
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Meet Cyrus G. a 21 year old gold skeptic. He believes that the stock market, while high, is fairly priced and going higher. We don't disagree. Our only contention is that the world is a very complex and dangerous place and that government often gets it wrong. The Federal Reserve and its brillian central bankers always get it wrong, blowing bubbles through loose monetary policy, only to see things blow and people get hurt as a result. Witness 1929 and 2008-9 and countless recessions in between. Cyrus believes that gold and silver will decline within the next three years and who knows, he maybe right. But if he's wrong and there's a black swan event, would you rather be holding soon to be worthless stocks or 10-15 percent of your net worth in precious metals? We'll leave the decision to you. 

Direct download: Cirus_02.Jul.14.mp3
Category:general -- posted at: 8:50 PM
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Holiday weeks were notorious for precious metals raids. Doesn't look like it's going to happen this week, wonder why? Are Da Boyz back in town? Something is definitely different. We've got Mark Skousen on today--Freedomfest is next week. Listen to Dr. Jeff Tanenbaum, surgeon turned realtor about restoring the American Dream. Then there's Kyle Olson talking about how one school district in a valiant effort to comply with Lady Obama's school lunch guidelines has banned birthday cupcakes. Finally, we spoke with doubting Cyrus. He's a young 21 year old who just can't see the value of gold. We were patient and tried to explain the historic basis for this most barbarous of relics. You be the judge if we got through at all. 

Direct download: Whats_Next_02.Jul.14.mp3
Category:general -- posted at: 7:58 PM
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Kyle Olson of the Education Action Group discusses how a school district in Washington State has banned cupcakes from routine birthday celebrations. After all, they contain sugar and that causes obesity, right? Another district in Rhode Island is taking their left over Michelle mandated lunches and selling them to pig farmers. Can't let that food go to waste. Can you think of a creative use for left over healthy lunches that kids hate to eat? We can think of a few, but we can't publish them here. 

Direct download: Kyle_Olson_02.Jul.14.mp3
Category:general -- posted at: 6:08 PM
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It's that time of the year again--Freedomfest. The largest gathering of freedom minded people in the free world. It happens every year around this time in Las Vegas. Yes it's 120 degrees in the desert, but it's well worth the trip. The list of well known Libertarians who attend makes it all worthwhile. We make it a point to attend yearly. 

Direct download: Mark_Skousen_02.Jul.14.mp3
Category:general -- posted at: 6:03 PM
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Dr. Jeff Tanenbaum left a successful medical practice to go into real estate. He repeated his prior success and today is the toprealtor at the famed Halstead Group. He believes that while the Millennial Generation faces unprecedented challenges to becoming homeowners, there is still hope for them. The key is financial education. While the government could do much to make it easier, until they do, Millennials must learn everything they can and start changing their behavior to make their home ownership dreams a reality. 

Direct download: Jeff_Tanenbaum_02.Jul.14.mp3
Category:general -- posted at: 3:34 PM
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Jeffrey Tucker, publisher of Laissez Faire books and founder of Liberty.me is extremely bullish on Bitcoin. He sees the recent problems with the exchanges as learning experiences and believes that demand is taking off for the crypto-currency. With increasing instability and more doubts about the viablity of national currencies, he sees more people turning to the crypto-currencies. There's also the issue of security and reduced transaction fees. He believes that diversifying your holdings will protect you against future Mt. Gox melt downs. 

Direct download: Jeff_Tucker_01.Jul.14.mp3
Category:general -- posted at: 7:26 PM
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