Kerry Lutz's--Financial Survival Network

@kdaniellepark joined us today. There's a day of reckoning coming at some point in the future. Stocks are now as overvalued as they were during the dotcomm era. That can't be good news for long run. Danielle thinks we're heading for 12 years of subpar returns and she may be overly optimistic on that score. Let's see what happens next!

Planning for retirement is composed of many factors and goals. Chief among them is that you don't want to outlive your money. Otherwise you might wind up as a greeter at Walmart. But that's only the beginning. You need to think about spouses, children and many other things. Kate also gives a very candid view of annuities. They might be right for some, but very wrong for many others. Much sage advice from someone who's been in the business a while. 

As we wrote previously, President Trump is on a mission to destroy the MSM. The NFL is going to be collateral damage in the process. To beat the media, you have to hit them where it hurts, in the wallet and Trump is doing just that. It's all part of a strategy. 

This is a hard time for sports. A massive college basketball scandal just broke. Well known coaches have been getting huge kickbacks to steer talented student athletes to financial people and sneaker sponsors. Just breaking, it's gonna be huge!

The profs at Cornell University will be doing a sympathy kneel-in to show solidarity with the NFL. What a shock. 

And lots more!

Patrick Donnelly, president of our sponsor First Mining Finance, joined us today. He had exciting news, the PEA (Preliminary Economic Assessment) came in on their Springpole project and it's way better than anyone reasonably expected. While the Company's stock has been flat since the rebalancing of the GDX-J ETF, Patrick believes that this has created a great opportunity. He's seeing increased interest from major miners looking to restock and replenish their reserves. And best of all, as we've said in the past, all of First Mining's projects are in stable jurisdictions with first class infrastructure. Is FF's time coming soon? 

What's happening to the country and the world? We see signs all over the place. In the US, it's the NFL vs. Trump. The Spanish are calling up the rear guard before the Catalonian referendum and the Kurds are getting ready to make their move to form a country. Add to that North Korea, Iran and Venezuela and there's your proof, as if you needed any anyway. 

Senior Fellow Seth Cropsey began his career in government at the Defense Department as Assistant to the Secretary of Defense Caspar Weinberger and has been involved with the Navy ever since. The recent series of mishaps isn't due to hacking. Rather, the problem is that American seapower is over-stretched. At the end of the Cold War, the U.S. combat fleet numbered approximately 600 ships. Today we have 276. The requirements that the Navy is asked to fill have been increasing steadily since a few years after the Cold War ended.

According to our good friend Alasdair MacLeod, China is booming and taking the rest of the world with it, except for the US that is. The US has isolated itself and is being left in the dust. China has shifted their economy away from making junk to high quality, hi-tech goods. Will it work? What about all the debt they've created in mean time? Let's see what happens next. 

President Trump spoke at the UN yesterday. Many of his policy aspirations echo those of Andrew Jackson. America First! Let other countries fight their own battles, with the US's support. He also castigated the UN's corruption and wastefulness. How he will square his stated policy with the continued ground war in Afghanistan is another issue. Nation building is still taking place and there's no end in sight and there's no way to determine if we're winning. A quagmire. 

So Andy's been in business for 8 days and it's going great. Check out his special 7 day free trial at CryptGoldCentral.com. Gold's fundamentals keep getting stronger. Gold's still at $1310. We talked about China's efforts to contain Bitcoin and the Crypto-Currencies. Today's historic Fed meeting. Claims that they're going to reduce their balance sheet are nonsense. It can't be done. We're never going above 2.5% rates, proof is today we're at 2.2%. We're missing two interest rate hikes promised for this year. Just wait till the King of Debt Donald Trump really kicks into high gear. 

Former Congressman John LeBoutillier and I squared off about the Trump investigation. John believes there's something there and that the President has reason to be concerned. I'm skeptical of the entire witch hunt. The Russians are coming was a great movie, but not so good a political meme. Let's see what happens next. And let's see the republicans go into full scale panic mode to pas the Trump Agenda, or at least major parts of it. They're scared to death about the 2018 elections. 

Stan Larimer, President: Known as "The Godfather of BitShares and the HERO", Stan Larimer has Forty years experience in software, hardware, and systems engineering, program management, business development and even teaching rocket science at the US Air Force Academy. Stan is CEO of Cryptonomex, a leading custom Blockchain development company, as well as father to Daniel Larimer, arguably the finest programmer and visionary in the Blockchain industry. Larimer designed it so that HERO Backing is widely held by strong hands trading publicly on many markets.The HERO is the only coin designed for mainstream adoption. All other coins are reliant on demand from speculators or specialized business models that have problems with the current banking system. Few, if any, offer anything that ordinary people want. The HERO offers the safety of buried gold, the earnings of a 1960’s Passbook savings account, and the ability to pay anyone anywhere in seconds.

For more info visit:

http://www.sovereignhero.com

https://bitshares.org

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Are you one of the 143 million customers in the Equifax data breach?

The Equifax data breach that potentially affects 143 million U.S. customers, nearly two-thirds of the adult U.S. population, could be quite the mess to clean up. The hackers had access to EFX, -14.23% data from May until July 2017, which included Social Security numbers, driver’s license numbers and credit card numbers, among other data.

The company detected the breach on July 29, it said, and hired a cybersecurity firm to determine what data the hackers accessed. But in the time it took for the company to alert customers who could be affected, hackers could have used their data for purposes including opening credit cards or other lines of credit. And any impact on their credit scores of erroneous activity could take years to repair.

Here’s how to know if you were affected and what to do next:

Check if your data was breached.Equifax created a website consumers can check if their data was breached, www.equifaxsecurity2017.com. The company said it would offer a free year of service from its subsidiary, TrustedID, which monitors credit reports from Equifax as well as Experian EXPN, -1.38% and TransUnion TRU, -4.66% , as well as offering identity theft insurance and internet scanning for social security numbers. Equifax will also send direct mail notices to consumers whose credit card numbers or personal information were impacted. (The company did not immediately reply to a request for comment.)

There have already been some glitches, however. Many consumers weren’t able to find out immediately if they were affected. Instead, once they entered their information into Equifax’s security website, they were told they were signed up for free credit-monitoring services for Equifax, and they had to come back to the site later to find out if they were affected or not.

Freeze your credit reports! Many credit bureau protections don’t detect nontraditional accounts fraudsters might try to open, such as payday loans or demand deposit accounts, said Al Pascual, a senior vice president and research director at the security firm Javelin. Customers should immediately freeze their accounts at all three credit bureaus, said Adam Levin, a consumer advocate and chairman of security firm CyberScout. This restricts access to your credit report, which helps prevent other credit card companies accessing it to open up new accounts.

The stock market keeps going higher on bad economic news. How's that supposed to work and can it keep going higher? Then in precious metals, the COT (commitment of traders) report flashed a bearish sign and right on schedule gold and silver have gone down. How long will it last for? Not too much longer, we would venture a guess. Especially with the upcoming Chinese Oil Contract that will be payable in gold. Things are heating up. 

STATE DEPT. ASKED EMBASSY SECURITY FIRM TO REPLACE BENGHAZI GUARDS ONE WEEK BEFORE ATTACK... AND THEN INSTRUCTED THEM TO REMAIN SILENT

Brad Owens recounts that 11 days before the attack on the U.S. Benghazi compound in 2012, the State Department asked Torres Advanced Solutions, an embassy security contractor, to replace the guard force then protecting the facility because it was the compound by its current contractor. The attack came just as Torres was gearing up to move in and take over the task of guarding the facility.

After the September 11th attacks destroyed the compound and killed Ambassador Chris Stevens and three other Americans, the State Department instructed Torres and associates not to reveal that the request to move in and take over had been made.

In addition, the State Department demanded that Torres’s force be unarmed, just like the guard force then deployed. Torres objected and said that they planned to arm the guards anyway. The State Department also instructed them not to reveal the request that the guards be unarmed.

None of these facts have been disclosed previously

We hadn't connected with Bo Polny in quite a while. He's still at the forecasting gig. He's seeing a major event coming within several weeks. The impact upon the stock market could be devastating. And it could be a major boost up for gold and silver and crypto's. Bitcoin could be going over $6000, nearly double Friday's price. What will happen next? Let's see if Bo has it right. 

Danielle had an interesting article on her site written by CNBC anchor Steve Sedgwick. He explores the concept of the Spend Now, Pay Never attitude that has swept the UK (and the US as well). Millions have leased shiny new cars and will never own them. They'll never be paid off. This is a symptom of declining savings rates in many countries. Interesting turn of events. 

This story closely correlates with the fact that most of us concerning our personal finance, as in life, are our own worst enemies. We engage in long-term destructive behaviors for the sake of a short pleasure. In addition, we then look to correct a life time of failed financial planning by upping our appetite for risk, while being cheered on by the financial industry. A recipe for disaster. 

Peter Schiff joined us to discuss the latest developments in the economic landscape. Contrary to MSM opinion, the crash of 2008 was only a precursor to what's coming next. And unlike Hurricanes Harvey and Irma, there's no hiding from it. When it hits, not if, the devastation to the financial system will be the equivalent of a Cat 5 making a direct hit on Wall Street. Time to prepare now before it's too late. Gold, silver but not Bitcoin as it's not worth the paper it's not printed on. 

Things are getting back to normal in storm ravaged Florida. Lights are back on. It's amazing how you can take something for granted like electric and the modern conveniences of life and then all of a sudden they're gone. Try driving through a major intersection with no traffic lights if you don't believe me. We all need to be more appreciative and thankful for the gifts we've been given. Fortunately Florida has followed the Houston model instead of the New Orleans example. There's mass looting, people haven't gone native, even in the worse neighborhoods. Government to its credit has done a good job of keeping things together. But this is a short term disaster and by the end of the week will just be a memory. Look at it as an opportunity to test out your prepping plan. 

Gold is holding strong. Silver down a little. We're getting close to Eric Hadik's golden year 2018. 

Comrade de Blasio set to win reelection despite being universally despised for his stupidity and complete lack of self-awareness. 

Andrew Hoffman joined us today! He's back! He's started his own website www.CryptoGold.com. It's subscription based but with Andy's constant stream of content you'll never be sorry. Bitcoin "crashed" down to $3900. It keeps going up and then having these mini-crashes. Gold is still under attack as usual. Will there be a tax deal? And how could it be bad for gold anyway. If the price goes up then it will keep going up. Gold is going up as Bitcoin goes up, it's not a coincidence. 

We wish Andy the best in his new endeavor!

There's a lesson to be learned from the recent Hurricanes Harvey and Irma. The attitude is don't worry, the government will take care of you. This attitude is prevalent in the economic world as well. Don't worry about your bank the government has got your back. Until they don't. And then what? 

Mark Falter says that Bitcoin is here to stay. There is a lot of hype and there is a bubble formulating in this area but certain types of this type of currency will be around and worth a lot more in 10 years. There are numerous types of cryptocurrency available , Bitcoin was one of if not the first.

Mark has heavy concerns about some of the other forms of currency. They can be a major venue for money laundering. Very much like the .com companies in the late 90s, over priced over valued , but there were a lot of people made a lot of money on them and many of those .com’s are still around today (Yahoo, Amazon etc, eBay).

The major problem we have with cryptocurrency is it is inviting a “Den of thieves” and is something that someone doesn’t want to go into blindly. The “Blockchain concept” makes in nearly uncrackable, and if done right can be very safe. One pf Mark's major concerns is it's all very unregulated, the SEC can regulate the sale of this fund but Cryptocurrency itself they can not.

Full Disclosure , Mark owns Bitcoins. 

Gold is showing new life. Just wait till the Cryptos crash, especially Bitcoin. Then anything bullion related will zoom higher. Let's see what happens next. It's going to retest $1300 and then go higher. Hurricane blues are setting in. It's not going to be a net plus to the economy. And keep your eye on the dollar. 

There were moments when I wasn't sure what was going to happen, but we made it! I made the mistake of taking the last hotel room on the internet at the Relax Inn in Kissimmee Florida just outside of Orlando. It turned out to be a welfare hotel. There were guys with prison tattoos checking me out and planning to rob me. Got in the room, barricaded the door and put my Glock on the table. Then the forecast changed and the storm was supposed to be a Cat 3 direct hit on Orlando. It occurred to me that this crappy little motel wasn't gonna survive it, so I desperately looked for another. Found a Holiday Inn Express right by the airport. Stayed there and was safe. Eventually the power went out. It was a bit windy and some trees got uprooted, but otherwise nothing too serious. We lived to do another Triple Lutz Report. Back to our normal schedule tomorrow. Hope all my Floridians are safe and your homes were spared. 

We've been connecting with Eric Hadik now since 2015. During that time his market calls in precious metals have been on the money. Earlier this year he called that gold/silver prices would be in check until the 3rd quarter of 2017. Now's he's calling for 2018 to be a truly golden year with prices heading much higher.

Oil is in a bottoming process and could also be heading higher in the next few years. Pessimism rules. Eric sees confirmation in the recent moves in unleaded gasoline and heating oil. Let's see what happens next. 

Stock Market The Dow Transports and Russell 2000 both peaked several months ago. They were early indicators of what's to come. The Dow and S&P both rebounded but are just below their peak. 10 year cycles indicate a market sell-off on the way. There's almost certainly a long term decline coming soon. 

USD has been in a two year trading range and is now starting to break down. Inflation and other factors will lead to a more accelerated move. Expect a possible dead cat bounce but it has likely turned the corner and starting what could be a multi-year downturn. Fundamental events will continue their own momentum until there's a climactic movement and then the trend will become obvious. And let's not forget, Republican administrations have been bad for dollar for at least the past 30 years. 

Stanley Fischer is gone. Does this mark the triumph of the Good Guys? Let's see. Treasury Secretary visited the gold supposedly being stored at Fort Knox in Kentucky. Bix believes there's way more gold out there than anyone can imagine. The Marcos's gold haul will come to the market soon. And who knows what else is out there. Will we actually return to a gold standard? Listen to Bix and see.