Andy and I get on the podcast today to debrief the flash crash in Gold; 24,000 contracts were dumped and prices drastically went down. This was intended to produce a major shock factor in the market. This makes for an excellent buying opportunity as markets do not always behave this way, and the price will most likely shoot back up again due to the high demand. We talk inflation, debt, and the realization of modern monetary theory—all of which are worth thinking about in the current economic state.


-Flash crash in Gold - went down $100/oz - has been bouncing around

-Andy Scheckman -

-What is going on with Gold/Silver?

-24K + contracts dumped - $4B worth

-It is a poor idea to dump that many contracts at one time, but it is done for effect

-There is no more manipulated market than the metals market

-This is a heck of a buying opportunity because markets don’t behave this way

-The price is most likely going to shoot back up because of the high demand

-Month-in, month-out, the big losers are speculators, who do the same thing over and over again and aren’t afraid to lose

-the government is the one accommodating loser

-$27 trillion in debt

-Less workers, high inflation-

-the only way you can manipulate a market over time is if you push it in the direction it’s moving

-Bloomberg - gold is going lower because the economy is getting stronger

-Fear of lending money out into an economy - banks are swimming in liquidity

-Wells Fargo pulling away from lines of credit

-The best things in life are transitory

-Inflating will get much worse

-People should be reigning in their debt

-People should be putting gold and silver away, not increasing their debt

-Purchasing power is being destroyed

-full modern monetary theory

We have seen this before but it turns around very quickly

Important Links:

Direct download: Andy_Schectman_09.Aug.21.mp3
Category:general -- posted at: 8:01am EDT

John and I discuss the way in which the layaway concept is re-inserting itself into buying procedures; time and time again, individuals are slaves to debt and seek out more methods of borrowing money. We touch upon gold and silver getting whacked due to banks feeling pressure about unemployment rates as well as what the markets will do. However, the stock market is not crashing--and the drop in gold and silver prices should not induce panic. Tune in today to hear about some of the latest phenomena in tech, debt, and investing, and stay for the entertaining South Park references.


-Concept of the layaway - ‘Layaway America’ - debt slaves don’t have enough ways to borrow

-We are becoming the layaway nation - everything that’s old is new again

-Gold and Silver take major decline

-Medically necessary creeping fascism

-Bitcoin is back up

-Tech companies have revived the idea of the layaway - making interest free payments until something is paid off

-Debt slaves don’t have enough ways to borrow


-It’s not a surprise that gold and silver are getting whacked - banks are feeling pressure about unemployment rates and what the markets will do

-The stock market is down a little bit today, but isn’t crashing; only gold and silver are struggling. This is opportunistic and should not cause panic

-There are far more jobs than unemployed people—something has to give

-COVID era benefits need to eventually go away

-We are experiencing accelerating inflation

-Baby boomers are retiring; it’s going to be expensive when the government starts paying for all our needs

-some people see cryptos as tech stocks and buy them when they’re optimistic, while some people buy them when they’re worried. This means that there is always a market for them

Useful Links:

Financial Survival Network

Dollar Collapse

Direct download: John_Rubino_09.Aug.21.mp3
Category:general -- posted at: 8:00am EDT






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