Kerry Lutz's--Financial Survival Network

We caught up with Peter Grandich today. Peter says there are many signs that speculation has gotten out of hand. Junk bonds and securitized subprime auto loans are out of control. They could be the next bubble to pop. The signs are there. When even a rigged casino starts losing money, it's time to head for the exits, witness Atlantic City, New Jersey. The general economy is not much different. 

We talked with market historian and analyst Bob Hoye today. The key factor to watch now is the further credit deterioration that will take place in the months ahead. You will witness dollar firming which could be bad for gold and silver in the short term. Expect miners to be taken down with the general market. 

Gold is under selling pressure today but is still above $1300. Silver seems impervious. Big decision comes down from the DC Circuit Court of Appeals, overturning many of the Obamacare subsidies paid out under a loose interpretation of the law. Right after we recorded it, the 4th Circuit in Richmond Virginia handed down a contrary ruling. Sounds like it's headed to the Supreme Court. 

Obama says the Russians did it. Putin says the Ukrainians did it. Who are you to believe? When in doubt assume they're all lying, because you know that they all lie all the time anyway. It's beginning to look a lot like 1914, isn't it? Things are heating up all over the globe. Gold and silver, the ultimate insurance company are no longer a theoretical proposition, they're becoming more real by the moment. Something that every thinking person needs to be spending more time focusing on. 

Manipulation Mondays with Andrew Hoffman

• It’s the economy stupid;
• 2.45 on the 10 year bond;
• Housing starts down 11 percent;
• Economic data versus reality;
• Longest string of negative economic surprises since 2008;
• Negative 2nd quarter gdp fast becoming a reality;
• China largest ever monthly decline in home prices;
• US Subprime Auto Loan Bubble popping;
• Mortgage apps at 20 year low;
• Gallup poll people spending more on food and energy;
• Ukraine and MH17 and no AK-47's for you;
• Israel and worst fighting since 1967 War;
• Espirito Santo files bk;
• Gold fundamentals looking—Hard Asset conferences cancelled.

We like to check in with David Gurwitz of Charles Nenner Research regularly since his calls on precious metals have been pretty spot on in recent years. He's still seeing some down action in gold for July, but then we should see it recover and start a long term up trend. Stock markets are looking toppy but there's no sell signal yet. The Euro has held up pretty well considering the bad news out of Europe. Nat Gas is looking to go lower and the same with oil. All things considered, some interesting times ahead. 

Bill Holter says the new BRICS Bank is just another nail in the Dollar's coffin. It's half as big as the IMF and it gives countries the ability to escape the dollar and the jurisdiction of the US and the DOJ. The world has had enough of the US, witnessed by Germany's recent explusion of the CIA station chief. It's all beginning to rapidly unravel. Be prepared!

Gold is up again. And that was before the Malaysian Airliner was shot down over the Ukraine. Talk about Black Swans. Hopefully this won't lead to something crazy, but who knows? When sociopaths run the world, you have to expect things like this to happen. What's going to happen when the London Silver Fix ends on August 14? There's lots more so listen up. 

Ned Schmidt of The Value View Gold Report sees nothing but blue skies ahead for gold and silver. $22 is the key number for silver and $1385 for gold. Once they pass through those resistance points it's nothing but blue skies. He thinks the price action this week was healthy as gold was slightly overbought. 

For agricultural commodities, beef is still going up, along with butter. Corn is down this year, but next year this time he belives it will be trading in the $6.5 to $7.0 region. He's still super bullish on the emerging farm animal health drug sector. He believes the upside potential is huge!

Goldmoney's Alasdair McLeod joined us today to discuss the impending demise of the London Silver Fix. Will it force the LBMA to become more transparent and to modernize? Alasdair believes they need to do this to remain the center of the world's precious metal trade. He also believes that the latest slam down in gold prices was due to profit taking and not an organized takedown. 

We connected with Bix Weir today. Seems like they're desperate to find a solution to the vanishing silver fix. Evidently there are billions and perhaps trillions in silver derivative contracts who's very is existence depends upon the Fix. But nobody is quite sure exactly what to do about it. Rumors are circulating that Reuters and CME Group will replace it shortly, but will their Fix be legally binding and sufficient? 

Aaron Clarey, a/k/a Captain Capitalism joined us today for an economic review. By virtually any measure the US economy is heading into or is already in a recession. But you can't do anything about it, just like you can't do anything about the Border Crisis or the march towards Socialism. So don't let it get you down. Find the community you want to be a part of and move there. Enjoy your life and have a good cigar. 

Gold and silver are up today, does that mean that the raid is over? We can only wait and see. We tend to agree with our friend Turd Ferguson that the goal is to break the trend line at 1280, but perhaps not. Silver is still above $20 and gold has bounced back above $1300. We'll learn a lot from where this stops. We also talk about the continued decline of New York City and the free for all known as Times Square. Seems as though the inmates really are running the asylum. 

Steven John left the US for Mexico two years ago. He spends his mornings day trading ETF's and otherwise enjoying the view of the beach. There are many benefits to living south of border if you're ready to make the mental transition. The taxes are low and so is the cost of health insurance. Sounds like a great place!

Dave Franzetta is an innovative thinker and creative problem solver who developed strong leadership and leadership development capabilities over his thirty-year career. In his consulting business he finds that many entrepreneurs can't let go of the reigns enough to delegate less important task, thereby freeing them to concentrate on the important matters. Dave says the key is learning how to trust and keeping your eye on the ball. 

James Hirsen reports that in terms of box-office performance, summer 2014 is not exactly turning out to be the blockbuster season Hollywood had been hoping for.

The Fourth of July holiday weekend, which is typically a key revenue generating time period for Hollywood, has turned out to be an unmitigated disaster.

Newly released movies actually brought in 44 percent fewer dollars than they did in last year’s matching time slot, handing the entertainment industry one of the worst Independence Day weekends it has ever experienced.

Just as Charles Nenner predicted, gold hit a high of 1342 and whamo! a raid is well under way. Turd Ferguson thinks that they're going to take it down between to $1260 to $1280. How long will it stay there? Probably not too long. The demand-supply dynamics favor higher prices. Some external force has been keeping the price lower. Wonder what it could be. Also, Steve Forbes believes a return to the gold standard is the only thing that can save the dollar. And the fracking boom is remaking North Dakota and other states, except New York--which has a moratorium on it. 

Manipulation Mondays with Andrew Hoffman

• Humphrey Hawkins metals slam down;
• Esperito Santos in the toilet and stock down;
• Real bad economic numbers;
• Multiple companies came out and said it wasn’t the weather;
• Japanese machine order number;
• JOLT survey—employment number;
• What is really contained;
• Comments by Goldman and others about containment;
• Goldman’s comments on stocks;
• Shorting of metals contracts.

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. 

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. 

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. 

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. 

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. 

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.