Gregory Crouch: From Penniless to The Richest Man in the World - the story behind The Bonanza King
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Gregory joins us at Jekyll to discuss his book "The Bonanza King" which describes the rags to riches story of the life of John Mackay. Johns family settled in the "Gangs of New York" area where he got little in the way of schooling. When he turned 16, he became an apprentice in the shipyards. In 1851 he moved to California during the gold rush and didn't end up earning much. In 1859 he headed over to Virginia City near Reno where the Comstock Lode was discovered. After working his way up in the industry he eventually struck it rich and had enormous success. ... https://www.youtube.com/watch?v=zAIBUagGIS8
Tom welcomes back the ever eloquent Tim Price from Price Value Partners for a jaw-dropping interview.
Tim critically examines global institutions such as the Davos Club and a certain UN Health Organization. He expresses unease about global policies that may potentially marginalize farming and fishing in order to mitigate ecological damage. He disapproves of unelected individuals influencing significant global health and economic strategies and encourages skepticism towards the mainstream media for perpetuating unchecked influence over these areas. Price also identifies a growing trend toward skepticism of global forums, notably through an editorial in the Financial Times questioning the relevance of Davos. He ends by cautioning against "philanthropaths" who amass wealth under the guise of charity and urges for increased understanding of their motivations.
Tim highlights the value of debate and continuous dialogue in resolving polarized arguments. Individuals should aim to arouse introspection in their interlocutors rather than impose personal beliefs. Understanding can create gradual changes in viewpoints over time.
Price draws parallels between the current credit and debt system and historical failures of such systems. He views Davos as the emblem of big state command economy systems — a form of crony capitalism, not genuine free market capitalism. He suggests teaching classic economics as a buffer against economic downfalls.
Price points to economic uncertainties and volatility in various countries, taking Japan as an instance of a resilient economy that weathered two depressions on a par with America's Great Depression, maintained lower unemployment levels and a sustained GDP. He raises the question of whether Western economies could cope with similar situations. He also underlines ongoing unrest in currencies, the bond market, and the intensifying inflation. Tim criticizes the problematic Keynesian economic model and government interventions in economic systems, proving them incapable of controlling intricate economic operations.
Tim discusses his book "The War on Cash" and advises strengthening ties with local businesses and limiting dependency on credit cards and any form of central bank digital currencies, promoting the use of cash transactions. As an example of an uprising against the current system, he notices the increasing number of protesting farmers, reaffirming the relevancy of his book's fundamental message today.
Time Stamp References:
0:00 - Introduction
0:37 - Argentina & Ecocide
4:36 - Vandals & Philanthropaths
7:12 - Western Suicidal Ideation
11:49 - Conversations & Questions
13:50 - Gov't Out of Education
18:12 - Truth & Perspective
22:29 - Davos & Javier Milei
27:10 - Broken Window Fallacy
30:09 - Debt Creation Math
34:07 - Inflation is a Policy
35:30 - Order of Collapse?
39:48 - Inflation Comparisons
42:27 - Keynesian Economics
46:28 - Tim's Book - War On Cash
50:22 - U.K. Postal Scandal
53:08 - Clarkson's Small Farm
55:21 - Worse Worsening
57:05 - Wrap Up
Talking Points From This Episode
- Tim Price criticizes global institutions and policies that affect farming and fishing, urging a deeper analysis of their impacts.
- Tim believes the idea that government should be involved in any way with education.
- Price calls for skepticism of the debt-based monetary system and questions its sustainability against the rising global debt burden.
Guest Links:
Twitter: https://twitter.com/TimPrice1969
Website: https://www.pricevaluepartners.com/
War On Cash: https://www.pricevaluepartners.com/war-on-cash/
Articles: https://www.pricevaluepartners.com/commentary
Tim's Podcast: https://www.podbean.com/podcast-detail/r42pj-5ec16/State-of-the-Markets-Podcast
Tim's Podcast: https://open.spotify.com/show/1T69Xe0EJ4n0gOO4RD9qv0
Podcast Episode Mentioned: https://open.spotify.com/episode/2y3fkSYmMNxpa7eNE13PIr
Tim's Book:
War on Cash (Amazon): http://tinyurl.com/kkmh6cx6
War on Cash (Free PDF): https://www.pricevaluepartners.com/war-on-cash/
Book Recommendations:
180 Degrees (Amazon): http://tinyurl.com/3vjvpnud
Mises Link - 40 Centuries of Wage and Price Control: http://tinyurl.com/4e5cewc7
The Origin of Wealth - Eric Beinhocker: http://tinyurl.com/5n7652a4
Tim Price has worked in the capital markets for over 30 years. A graduate of Christ Church, Oxford, he spent a decade as a bond specialist before going on to serve as Chief Investment Officer at three separate wealth management firms.
Tim has been shortlisted for five successive years in the UK Private Asset Managers Awards program and was a winner in 2005 in the category of Defensive Investing. He is now co-manager of the VT Price Value Portfolio, a fund investing in Benjamin Graham-style value stocks, and specialist value funds, from around the world. He also co-manages bespoke private client portfolios.
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https://www.youtube.com/watch?v=Fnw6Zn8oq9o
Could a market crash occur this year, on September 13th? We are delighted to bring on a new guest to the show, Mr. Jeff Berwick. Jeff founded Stockhouse.com, which grew to a $200 million plus market cap company, before the tech bubble burst in the early 2000's.
Jeff now resides in Acapulco, Mexico, from where he writes his financial newsletters, holds conferences and lives his laid-back, free from worry type lifestyle.
Knowing that Jeff has a large following of international investors, it was great to hear his thoughts on portfolio choices and life in general, from his home in sunny Acapulco...
Takeaways from this interview with Jeff:
● How Jeff built and sold www.Stockhouse.com, and what he experienced traveling around the world...
● Jeff's take on freedom, and how you can live a free and prosperous life today
● Why Jeff recommends holding hard assets (gold & silver, foreign real estate, etc.) outside of the financial system
● The market crash which Jeff thinks is coming on the specific date, September 13th 2015.
● One of Jeff's investments that can reap 10,000% gains in the next few years...
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https://www.youtube.com/watch?v=pkMPPm8owU0
Tom welcomes back Michael Gentile strategic investor and President & CEO of Consultant Finaciere Integritas to the show.
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Michael discusses the Fed's inability to act in the current environment and argues rates should be moving higher but the Fed is rapidly losing credibility. If they don't provide a timeline for tapering then they risk damaging their reputation further. Inflation in wages is skyrocketing creating imbalances which will last for some time. If the Fed wasn't buying debt rates would be much higher. As a result, we have negative real returns today.
This issuance of money in circulation has created the illusion of economic growth but soon we will realize that lower growth and high inflation are here to stay.
The US dollar is one of the better houses on a terrible block. If everyone is printing then gold will inevitably rise. He remains very bullish on the precious metals. When compared with equity markets, gold has excellent potential to move significantly higher. Gold stocks are currently discounted when compared with gold which represents a terrific opportunity.
Gold remains unattractive when there are regular big gains in other markets. Speculation is rampant and this pulls attention away from gold. When markets do correct you will see many of these speculative markets become annihilated. Some may never recover. That's when people will become aware of the utility of gold.
He discusses the geopolitics of oil and why many of the green energy programs are quite unrealistic. Today, few want to invest in the oil sector, and eventually, a market starved of capital will be a large opportunity.
Copper remains an interesting sector and the world will need a lot more of the metal if green energy demand of politicians are to be met.
Michael discusses the primary importance of geology in juniors and why he looks for flexibility in their management teams.
Time Stamp References:
0:00 - Introduction
0:34 - Fed Trapped
1:37 - Rates & Inflation
3:58 - Inflation Causes
6:31 - Deflationary Periods?
9:07 - Treasuries
11:28 - Dollar Long-Term
13:22 - Metals Outlook
16:20 - Speculation & Risks
23:25 - Other Sectors?
26:42 - Copper Markets
28:48 - Portfolio Balance
32:00 - Geology & Management
36:00 - Seasonality
37:30 - Uranium Plays?
39:20 - Wrap Up
Talking Points From This Episode
- Fed cornered and will be unable to taper if markets falter.
- Inflation and the outlook for treasuries and the dollar.
- Expectations for gold and other commodities like copper and oil.
- Importance of geology and having flexible management teams.
Guest Links:
LinkedIn: https://www.linkedin.com/in/michael-gentile-01028552
Michael Gentile, CFA is President and CEO of
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https://www.youtube.com/watch?v=VlLlVvybU_I
Tom Bodrovics welcomes back Bob Moriarty to the show. Bob is founder of 321gold and 321energy.com, and a former Marine Corps fighter pilot during Vietnam. Moriarty believes the year 2024 could be catastrophic due to geopolitical issues and a greater financial crisis but sees opportunities in gold and silver, which have broken out and are expected to continue for the next decade. He emphasizes sentiment and China's control of the gold market as key drivers of their prices. Moriarty discusses potential peace in the Middle East after Israel's conflict with Iran, questioning the sustainability of the US sending large aid packages due to bankruptcy.
*Palisade Radio Links:*
► Website & Newsletter: https://palisadesradio.ca
► Rumble: https://rumble.com/c/c-1586024
► Odysee: https://odysee.com/@PalisadesGoldRadio:c
► BitChute: https://www.bitchute.com/channel/67kkt6EjYPJM/
Moriarty advocates for ignoring external factors like interest rates, currencies, and politics when investing in gold and silver, using sentiment as a useful tool. He highlights China's significant impact on the gold market and the potential negative vote against US treasuries and the dollar. Moriarty expresses concerns about rising interest rates and their impact on real estate markets, especially commercial property. He also discusses the recent surge in base metals as undervalued commodities and a shift towards commodities from overvalued assets like stocks.
Bob emphasizes the importance of understanding current developments in economy and society, including immigration policies, corruption, and diplomacy. He criticizes the increasing divide between ordinary people and the establishment and advocates for conversation and understanding between opposing sides. He criticizes US foreign policy in Ukraine and advocates for diplomacy to resolve conflicts. He also discusses the impact of misinformation on society and expresses skepticism towards media narratives.
Talking Points From This Episode
- He sees 2024 as a potential crisis year but believes in gold opportunities; emphasizes sentiment and China's influence.
- Relative calm in the Middle East is possible after the recent Israel-Iran conflict, but US aid sustainability questioned.
- Misinformation if not outright falsehoods in the mainstream media and the importance of diploamcy globally.
Time Stamp References:
0:00 - Introduction
0:37 - A Catastrophic Year?
2:00 - Whose Driving Metals?
4:52 - Warning Signals
5:43 - Oil Prices & Iran
9:10 - Balance of Power
13:30 - Aid to Ukraine
19:37 - Measuring Sentiment
21:46 - Lessons in FOMO
23:24 - Eastern Gold Shift
25:10 - Mortgages & Real Estate
27:19 - Base Metal Indications
28:37 - Government & Corruption
30:57 - Reasons for Optimism
32:12 - Diplomacy & Conversation
37:53 - Alt Media & Opinions
43:53 - Wrap Up
Guest Links:
Website: http://www.321gold.com
Website: http://www.321energy.com
Books on Amazon: https://www.amazon.com/Robert-Moriarty/e/B01A9I4TJU?ref=sr_ntt_srch_lnk_3&qid=1599932580&sr=8-3
Bob Moriarty founded 321gold.com with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind, and nuclear energy. Both sites feature articles, editorial opinions, pricing figures, and updates on both sectors' current events. Previously, Moriarty was a Marine F-4B and O-1 pilot, with more than 832 missions in Vietnam. He holds fourteen international aviation records.
#Markets #Warnings #Bitcoin #Gold #China #SP500 #Iran #Oil #Ukraine #Sentiment #RealEstate #Mortgages #Media #Diplomacy #Government #Corruption
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https://www.youtube.com/watch?v=ML_xEzuVRf4
Tom welcomes Peter Schiff, the CEO and Chief Economist of Euro Pacific Asset Management, Chairman of Schiff Gold, and host of Schiff Radio to the show.
*Palisade Radio Links:*
► Website & Newsletter: https://palisadesradio.ca
► Rumble: https://rumble.com/c/c-1586024
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Peter discuss the Fed's approach to inflation and why the they are purposely keeping the truth from the public in order to prevent a crisis. He believes inflation will not go away until there is a will in Washington to get rid of it, and that quantitative easing to accommodate large deficits caused by reckless government spending will only increase inflation.
He also noted that while deflation is often seen as a bad thing, it is actually beneficial for consumers who can buy items cheaply. Peter believes that the current 2% inflation target is no longer relevant and that the government has created a safety net that has become a hammock for some people, eliminating many unskilled jobs.
He believes that the minimum wage law has made it impossible for young people to gain the skills they need to move up the job ladder, creating a permanent underclass.
The Fed has run out of tools to help the economy and free markets were not allowed to work during the COVID crisis. Gold is coming back in a big way due to the devaluation of fiat currencies. Lastly, Peter argues gold is more efficient, less volatile and expensive, and faster than Bitcoin.
Talking Points:
- The current state of the labor market and the Fed's 2% inflation target is no longer relevant.
- Government regulations stifle company growth, and less regulation has actually led to less fraud.
- Investors should focus on international markets, emerging markets, commodities, and value stocks.
Time Stamp References:
0:00 - Introduction
0:39 - Honesty at The Fed
7:08 - Fed & More Hikes?
10:03 - Scary Deflation
14:10 - Blame Inflation
15:20 - Inflation Targets
18:35 - Unemployment Rates
26:02 - Fed & "Solutions"
30:05 - Covid Spending Spree
32:47 - Gov't & Free Markets
36:20 - Competition & Efficiency
40:50 - New Investment Paradigm
46:48 - New Era & Digital Gold
50:13 - Silver Vs. Gold
52:40 - Sound Money & Education
55:08 - Concluding Thoughts
Guest Links:
Podcast: https://schiffradio.com/
Website: https://schiffgold.com/
Website: https://europac.com/
Twitter: https://twitter.com/PeterSchiff
YouTube: https://www.youtube.com/channel/UCIjuLiLHdFxYtFmWlbTGQRQ
Peter Schiff is an honorary chairman of SchiffGold, founder of Euro Pacific Asset Management, and host of The Peter Schiff Show. Peter is an economic forecaster and investment advisor influenced by the free-market Austrian School of economics. He is one of the few forecasters who accurately and publicly predicted the 2007 housing market collapse and subsequent 2008 financial crisis. His latest best-selling book, The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country, warns that the 2008 crisis was just the prelude to a larger sovereign debt crisis in the United States that may lead to a collapse of the US dollar. Peter recommends long-term investment in foreign markets with sound fiscal policies, as well as global commodities including buying gold, silver and other physical precious metals.
#PeterSchiff #Fed #Inflation #QuantitativeEasing #Deflation #Economy #LaborMarket #Unemployment #Government #Welfare #MinimumWage #FinancialCrisis #FreeMarkets #SamBankmanFried #FTX #Gold #Bitcoin #Crypto #Blockchain #Silver #Copper #SoundMoney
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https://www.youtube.com/watch?v=TUa_kYO3Hqk
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Phillip discusses why gold is a prudent hedge today since most stocks are near all-time highs. Most investors currently have a perilous portfolio, which makes this is a good time to diversify into precious metals and other commodities that are undervalued. He gives his opinion on why palladium will continue to rise due to current supply-demand dynamics.
Time Stamp References:
0:40 - Stock market valuations, uncertainty, and bubbles.
2:00 - Cannabis and cryptocurrencies.
3:50 - How commodity markets have changed.
5:50 - Psychology mind game of trading.
8:00 - Repo markets, money printing, and the Fed.
10:00 - Favorite books and lessons.
11:40 - Palladium can still go higher.
#BlueLineFutures #Gold #Palladium #Futures #Commodities #PalisadeRadio
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https://www.youtube.com/watch?v=IaczNYoi5E0
Tom Bodrovics welcomes back Tavi Costa of Crescat Capital to discuss the potential for a bull market in precious metals, particularly gold and silver. They believe that the current undervaluation of the metals and mining industry, coupled with various macroeconomic trends, presents an attractive investment opportunity. Tavi highlights the potential for increased M&A activity in the gold mining sector and the importance of finding major discoveries in the juniors. They also discuss the potential impact of ESG policies and green agendas on gold production.
*Palisade Radio Links:*
► Website & Newsletter: https://palisadesradio.ca
► Rumble: https://rumble.com/c/c-1586024
► Odysee: https://odysee.com/@PalisadesGoldRadio:c
Tavi Costa suggests that silver is worth paying attention to, citing factors such as increased imports from India and declining production from Peru and Mexico. He sees silver as a monetary and inflationary hedge.
They discuss the macroeconomic indicators pointing towards a potential recession, as well as potential opportunities in the commodity space.
Tavi Costa offers insights into the Argentine and Brazilian economies and suggests potential solutions to currency and investment issues in Brazil.
Time Stamp References:
0:00 - Introductions
0:33 - Bullish Technicals
2:45 - Confirmation Levels
6:00 - Majors & Mine Reserves
9:23 - Miners Diversifying?
11:32 - Mining Seasonality
13:26 - Capital Rotation
16:24 - Setup For Silver Miners
18:00 - India Silver Imports
19:38 - Fundamentals Vs. Technicals
23:00 - Commodities to Equity Ratio
28:23 - Commodities & Inflation
33:20 - U.S. Bond Issuances
38:10 - Inverted Yield Curve
41:30 - Recession & Soft Landings
43:45 - Politics in Argentina
49:08 - Inflationary Eras
51:38 - Wrap Up
Talking Points From This Episode
- Tavi discusses the opportunity for investors in the metals and mining industry.
- Macroeconomic developments and market changes indicate a potential recession in the near future, and further inflation appears to remain an issue.
- The cost of capital will be an important question if inflation remains high, and that in five to ten years, the changes in the market will be more obvious.
Otavio ("Tavi") Costa is a Member and Portfolio Manager at Crescat Capital and has been with the firm since 2013. He built Crescat's macro model that identifies the current stage of the U.S. economic cycle through a combination of 16 factors.
His research is regularly featured in financial publications such as Bloomberg, The Wall Street Journal, CCN, Financial Post, The Globe and Mail, Real Vision, and Reuters. Tavi is a native of São Paulo, Brazil, and fluent in Portuguese, Spanish, and English. Before joining Crescat, he worked with the underwriting of financial products and international business at Braservice, a large logistics company in Brazil.
Tavi graduated cum laude from Lindenwood University in St. Louis with a B.A. degree in Business Administration with an emphasis in Finance and a minor in Spanish. Tavi played NCAA Division 1 tennis for Liberty University.
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https://www.youtube.com/watch?v=xR0ngw8khcg
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David is sticking to his target of $1550-$1600 for gold, which he predicts will be reached around Labor Day. For silver, he feels that $26 is still a definite possibility. He says, “When people become more interested in gold silver will head higher. Silver usually underperforms on the downward moves in gold and outperforms when gold rallies.” He feels that the markets are heading for another unwinding event similar to 2008, and that is likely to occur early next year.
TimeStamp References:
0:40 – Outlook for gold and silver.
2:50 – Confirmation bias and mistakes investors make.
5:00 – Understanding market sentiment.
6:30 – Contrarian view on oil markets
11:00 – Books that shaped Davids viewpoints.
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https://www.youtube.com/watch?v=FJr3BTON55Y
Tom welcomes back a man who should need no introduction, Doug Casey. Doug is a libertarian philosopher, speculator, and author.
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Doug discusses alternatives to college since it's usually a misallocation of time and money and full of Marxist ideas.
Doug briefly highlights several key areas when speculating in mining. Basic knowledge of geology and engineering is valuable but more importantly is the ability to evaluate management. Many people have a social veneer that masks their inabilities. He points out that mining is the most volatile market sector, so one needs to be careful.
The current state of the economy is now a period of stimulus checks. Retail prices will undoubtedly skyrocket as we enter "The Greater Depression." which will likely be severe and long-lasting. Inflation is not going to be transitory in a time of rapid monetary expansion. However, there is a risk of catastrophic deflation when bubbles inevitably pop.
He argues that Bitcoin has value due to its ability to transfer value across borders without the banking system. It has many characteristics of good money and has introduced many to sound money principles and likewise precious metals.
Polices like MMT and UBI will only exacerbate the coming collapse since these rely on money printing. These policies are not solutions but only extra problems. Society and individuals manufacture wealth through creation, not collecting checks. While everything seems okay, he believes a visible calamity will develop by this time next year.
Social engineers want to control other people, and these types often end up in government. Once people understand that the pandemic is essentially a scam, the establishment will transition back to pushing climate change.
Your most significant risks are usually political and come from your government. So start diversifying politically and financially. Consider a residence in another country and buy physical metals. Now is a good time to speculate in mining stocks and also consider oil and uranium equities.
Doug discusses his book series and the many ethical dilemmas that it ponders. Lastly, Doug says, "Keep your pecker hard and your powder dry and the world will turn. Don't take it too seriously it's all dust in the wind."
Talking Points From This Episode
- Alternative education ideas.
- Speculating in mining considerations.
- Bitcoin as a gateway to understanding sound money.
- Protecting your finances and current opportunities.
Time Stamp References:
0:00 - Introduction
0:52 - Alt. Education
5:19 - Speculating in Mining
8:41 - Private Placements
14:09 - Bubbles & Stimulus
15:22 - Stimulus Storm
17:06 - Bitcoin & Sound Money
21:06 - Transitory Inflati
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https://www.youtube.com/watch?v=qe1SNNyhvw4