It's no secret that US oil/gas output has been skyrocketing. In fact, some are predicting that within a few short years, production will hit 17mm barrels per day. Just 10 short years ago, the experts were forecasting declining American production and increased dependence upon imports. What a difference a decade makes. Of course there are challenges. Environmental wackos, tight pipeline capacity, the Green New Deal and a host of other factors. However, judging from where we were and where we are now, they will be met and overcome. 

Direct download: Mickey_Fulp_10.Jul.19.mp3
Category:general -- posted at: 5:07pm EDT

Kitco's Peter Hug joined us for a review of the recent action in the precious metals and the beginning of gold's new bull market. He believes that a lot will have to do with the Fed's approach to cutting rates. Peter believes that the Fed will take a more cautious approach and cut 25 basis points at the next meeting. If they go higher, it could be a real boost. Once gold breaks the next resistance point around 1420, gold could close out the year around $1550. Let's see what happens next. 

Direct download: Peter_Hug_10.Jul.19.mp3
Category:general -- posted at: 11:57am EDT

Gold has been on a major move up lately. 12% since the beginning of 2019. But John believes we're just getting started. Where will it stop? Nobody knows, bull markets can go on for many years, just look at gold from 2000-2011 or the stock market for the past 10 years. Next we talked about Jeffrey Epstein, the Deep State and the Trump Revolution. Looks like it's all about to hit the fan. The truth about Spygate is coming out and nothing can stop it. The Democrat Party is heading head long into total socialism and it may very implode when things really get going. We'll just have to see what happens next! 

Direct download: John_Rubino_09.Jul.19.mp3
Category:general -- posted at: 7:45pm EDT

Corruption is threatening to upend many countries around the globe. But perhaps we've reached Peak Corruption.  There's a new sheriff in British Columbia Canada who's threatening to upset the apple cart. Does government always have the unrestricted right to know where your money came from, how much of it you have and where it's kept? A difficult question, on the one hand we want our institutions to function fairly and on the other we want our privacy rights protected. Somewhere there's a balance. But is blowing the lid off of beneficial ownership interests the cure? Perhaps in these trying times sunlight is the best disinfectant. 

Direct download: Danielle_Park_09.Jul.19.mp3
Category:general -- posted at: 3:21pm EDT

Chris Vermeulen had been calling for a gold breakout for a number of months. Some FSN Members snarkily doubted his call. However, they're not doubting him any longer, what with gold breaking resistance and now hovering near $1400 the ounce. Chris oil call was also remarkably on the money, with oil crashing to the low $50's from the mid $60's. Chris is calling for silver to soon join the fun  and then it will be off to the races. 

Direct download: Chris_Vermeulen_09.Jul.19.mp3
Category:general -- posted at: 12:17pm EDT

The scams keep coming and so do the victims. As PT Barnum once purportedly said, "There's a sucker born every minute, and two to catch him."  And as WC Fields stated, "Never give a sucker an even break." The scam involves transmission of a fishing email threatening to expose an individual's visits to various porn and adult entertainment sites. The intent is to use fear of exposure to get the mark to click the link and embed a virus. Evidently it's highly effective and there's even a variation that prays off of children. As always, awareness is your key to avoiding the fallout. 

Direct download: Heather_Wagenhals_09.Jul.19.mp3
Category:general -- posted at: 12:13pm EDT

After a long hiatus, fellow transplanted NY'er and now Floridian, Andrew Horowitz joined us. When it comes to markets, Andrew has long believed that following the Fed can reap large rewards. Even though as Andrew has stated, the real economy hasn't really been doing much for over a decade. But stock buybacks, Wall Street alchemy and government interventions have reaped mighty fortunes for some. But perhaps there is a light at the end of the tunnel. Employment numbers have been very strong. But if we're in the best economy in memory, why does the Fed need to even consider cutting rates? Something doesn't compute. 

Direct download: Andrew_Horowitz_08.Jul.19.mp3
Category:general -- posted at: 4:23pm EDT

Brad Williamson says, Nearly 1 in 3 lose sleep over everyday expenses
New York. Nearly 8 in 10 (78%) of U.S. adults lose sleep over daily stresses like work, relationships, and more, according to a new Bankrate.com report. More than half (56%) of Americans, ages 18 and older, toss and turn over at least one money issue. The biggest money stressor: everyday expenses, which nearly 1 in 3 (32%) say they occasionally lose sleep over. 

Other than everyday expenses, the most popular financial insomnia contributors include saving enough money for retirement (24%), health care or insurance bills (22%), the ability to pay credit card debt (18%), mortgage or rent payments (18%), educational expenses (11%) and stock market volatility (5%). Those who are losing sleep over money include:
Two-thirds of parents with children under age 18 compared to 54% who don’t have young children.

Sixty-four percent of Gen Xers (ages 39-54) versus 58% of Millennials (ages 23-38) and 54% of Baby Boomers (ages 55-73).
Fifty-nine percent of women compared to 54% of men.
More than 6 in 10 (61%) Northeasterners versus 52% of Midwesterners.
Nearly two-thirds (63%) of the lowest earners (under $30,000 per year) compared to 53% of those who make $80,000 or more.
Aside from financial woes, Americans say health is the next largest contributor to a lack of shut-eye (37%, up from 28% last year). Many U.S. adults also experience restless nights over relationships – including those with family members (29%), romantic partners (21%) and friends (17%) – as well as work (28%), politics (21%), climate change (14%) and raising children (13%).
Digging deeper, 38% of those who lose sleep over at least one stressor say a money issue is the main culprit, more than relationships (20%), health (15%) and work (11%). The average U.S. adult is losing sleep over three different problems.

Among generations, Millennials are more likely to lose sleep over work (39%) and relationships with friends (22%), while Gen X tops all other age groups in losing sleep over the ability to pay housing costs (24%), and Baby Boomers are more worried about health (41%) and politics (25%) than those who are younger.
Millennials and Gen Xers have a much greater tendency to feel uneasy over education costs for themselves or a family member (16% and 11%, respectively, versus just 3% of Baby Boomers).
Almost two-thirds (63%) of people struggling to get a good night’s rest are optimistic they’ll be able to resolve their biggest issue and more than three-quarters (77%) are actively doing something to address it. However, more than half (51%) of U.S. adults who lose sleep primarily due to credit card debt say they are pessimistic about improving their situation. The other net pessimistic topics are politics (62% pessimistic) and climate change (66% pessimistic).
“When you’re wrestling with a big issue, it’s important to break it into manageable chunks. Devising a plan and starting to execute against it – piece by piece – is the best way to get things done,” said Bankrate.com analyst Ted Rossman. “Simply getting started should help you begin to feel better and settle your racing mind. That holds true whether you’re worried about health, money, relationships, work or anything else.”

Direct download: Brad_Williams_08.Jul.19.mp3
Category:general -- posted at: 1:34pm EDT

Jerry's been a regular guest on the show for years. He's down on American Hegemony and capitalism in general. While we gladly acknowledge the shortcomings of capitalism, true capitalism, not what the existing system pretends to be would be welcome. We'd be very happy if there was an alternative system that worked. Totalitarian Capitalism is probably not the solution for what ails humanity. Everything is coming up China until it doesn't anymore. Eventually all systems breakdown and degrade. The next two years promise to be extremely interesting. So stay tuned. 

Direct download: Jerry_Robinson_08.Jul.19.mp3
Category:general -- posted at: 1:31pm EDT

Eric Hadik joined us for a review of the gold market. Additional gains could be seen well before Q4. Stock market appears to be peaking. Interesting discussion about interest rates, heading lower, and petroleum markets. Always an interesting talk when Eric comes on. His gold forecasts have been on the money for years. 

Direct download: Eric_Hadik_03.Jul.19.mp3
Category:general -- posted at: 2:00pm EDT

Dee Carter has a window seat on the Texas oil boom. He's in Midland, right in the heart of the Permian Basin. The Permian now produces more oil than Saudi Arabia. The US just quietly became the world's leading oil producer, pumping over 12 million barrels per day. Some are predicting production will skyrocket to 17 million bpd in just a few short years. But there's more to oil than just pumping crude. The refined products market has taken a number of jolts lately. That's why gas prices have remained higher in the Northeast, as a major Philadelphia refinery suffered a big explosion and face permanent shut down. Will Uncle Sam let them walk away? Good question. 

Direct download: Dee_Carter_03._Jul.19.mp3
Category:general -- posted at: 1:35pm EDT

As time goes by, Keith Weiner and others are more and more convinced that the long awaited bull market in gold has finally arrived. Both from a technical and fundamental point of view, there is agreement among most that this bull is the real deal. Of course anything can happen, and probably will, but things are looking up. And Keith has developed a way to play this market through gold bonds, his unique proprietary approach to gold leasing. Interesting times indeed. 

Direct download: Ketih_Weiner_03.Jul.19.mp3
Category:general -- posted at: 11:52am EDT

Bitcoin Explodes 20% Overnight, Rises Just Shy Of $13,000. After breaching $10K over the weekend for the first time since March 2018, bitcoin has accelerated its sharp move higher and, trading close to $13,000 on Wednesday, up almost 20% in the past 24 hours. It is now up 240% since the start of the year, and even though it remains below its all-time high of nearly $20,000, at the current pace, it will surpass its all-time high in just a few days. The last time Bitcoin rose above $12,000 was in December 2017, when it continued to rally, on some days moving several thousand dollars in hours, eventually reaching its all-time high as $19,511 just before Christmas 2017. That surge, however, was followed by a calamitous drop as retail investors fled, with the crypto dropping below $6,000 by February, and hitting $3000 just months later. All in all, in December 2017 and January 2018, Bitcoin spent about six weeks above $12,000. Will this time be different, is the main question asked by traders. And as usual, the second biggest question posed by traders, investors, speculators and plain old haters is what is the reason behind the move. According to some, Facebook’s announcement this month has revived interest in coins, while investors seeking safety have also pushed up Bitcoin’s price. “It obviously does appear to be benefiting from some sort of flows that gold is benefiting, too,” CMC Markets chief strategist Michael Hewson said. “You’ve got all this stuff about Libra going on, which is renewing interest in bitcoin. Crypto is back in vogue.” That part was right; what he said next, however, was not - he added that the investors buying bitcoin were speculative. That is precisely the opposite of what JPM found last weekend when the bank concluded that the current bout of buying is not retail - as was the case for much of 2017 - but institutional. Meanwhile, as bulls cheer signs that the next bubble in cryptos is well and truly here, sparked by interest in virtual currencies from major companies like Facebook and JPMorgan, skeptics say it’s unclear how those initiatives will ultimately benefit Bitcoin and its peers. It is also unclear if Facebook's Libra "crypto" experiment has anything to do with the recent move. To be sure, it's not news as it was well known months in advance that Facebook was launching its "crypto" product, which as explained here before, is not even crypto. Instead what appears to be causing the rush into bitcoin, ethereum and other cryptos is global monetary policy (and Chinese capital flight). Meanwhile, not everyone agrees with JPM that institutions are now long bitcoin: according to the WSJ citing the latest CFTC Commitment of Traders report, hedge funds and other money managers held about 14% more bearish “short” positions in CME bitcoin futures last week than they did bullish “long” positions, The WSJ concludes that it is mostly small, retail investors who are taking the other side of the trade, in clear disagreement with JPM's conclusion. Among traders with fewer than 25 bitcoin contracts, a category that likely captures many individuals placing bets in bitcoin, long wagers outnumbered short bets by 4 to 1. “Traditional market participants may be more skeptical of [bitcoin] than millennial day traders,” said George Michalopoulos, a portfolio manager with Chicago fund manager Typhon Capital Management LLC, although he stressed that his views were speculative and that it is hard to know what is driving the CFTC’s numbers.

Eric is an internet entrepreneur and investor who began picking stocks and trading futures contracts in college, using his expertise to become a Certified Financial Manager at the largest American retail brokerage.

Direct download: Eric_Wade_02.Jul.19.mp3
Category:general -- posted at: 2:36pm EDT

David Morgan a/k/a Silverguru and I have been covering the precious metals markets for nearly 8 years. It's often been an exercise in futility. However, now David and I are relatively confident that ther wait is over. And we're putting our money where our mouths are. This cycle could go on for quite some time. And silver hasn't even begun to join the fun. It's always the laggard in these market gyrations and this time is no different. But the potential for massive silver price increases is certainly there. Could we be setting up for record gold and silver price levels? 

Direct download: David_Morgan_02.Jul.19.mp3
Category:general -- posted at: 1:53pm EDT

Free college keeps sounding better and better. Maybe Bernie is on to something. How many kids are now taking out big loans in the expectation of the Bernie Put, or forgiveness of student loans. Gold and Bitcoin pulled back a bit but are probably just consolidating for the next advance. It's a mixed up crazy world. 

Direct download: John_Rubino_01.Jul.19.mp3
Category:general -- posted at: 12:36pm EDT

Gold and Bitcoin have seen some selling pressure over the past couple of days. Gold peaked on Monday and Bitcoin late on Wednesday. The key reversal patterns were unmistakable in both. The metal and the crypto both made recent highs and had dramatic sell offs from the highs.

On Monday as it looked like Gold was going to the moon and traded as high as 1442, though it fell apart falling about 3% since. Our target remains 1380-1390, which should be the lows of the current down move. In identical fashion, Bitcoin was exploding on Wednesday making 3-year highs before reversing 2% from the highs.

These patterns are common in all markets, traders and investors chase markets higher on the fear of missing out or short covering. Once markets regain equilibrium, they usually consolidate looking for support or resistance. In this case, both gold and bitcoin are searching for support. Both markets should resume there upward momentum after finding support, Gold 1380-1390 and Bitcoin around 10,000.

Direct download: Todd_Bubba_Horwitz_01.Jul.19.mp3
Category:general -- posted at: 12:10pm EDT

US Stock markets regained last month's lost ground. Canadian markets and emerging markets followed suit. Dollar flat, Euro up 1.7%, Bitcoin the month's big winner up 48.8% to 12323, 10 year treasury yield down to just 2.0%. Silver rose 5% and gold closed out at 1410. Platinum was up 5% to 834 and Palladium soared to 1516 an amazing close. Copper down nearly 3.3% to 2.71 per lb. WTI recovered 8.80% to 58.20 and Brent followed suit up 3.3% for the month. Natgas continued its slide down another 5.5%. Uranium was up  23.85. Gold/silver ratio hit 92.3. Plat to AU at .59, Plat to Pal down to .55. That's it for June, check back next month for July's performance. 


 

Direct download: Mickey_Fulp_01.Jul.19.mp3
Category:general -- posted at: 11:12am EDT



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