Congressman & former Presidential Candidate Ron Paul joins the show this week, discussing:
- Putin’s response to US sanctions with economic retaliation- implications for US economy & the US Dollar- It is very significant, dumping of US dollars has begun…The dollar can’t be maintained. One reason the dollar has been sustained as well as it has been is who wants to buy yuan or euros? But ultimately they will buy the real money, and that’s gold!
- Paul on the Coming collapse of the dollar & all fiat currencies: Officials in charge of monetary policy are very aware of what’s coming- they believe as long as it is orderly they will be ok…The problem is when people lose confidence in a currency, they lose confidence completely. There’s nothing orderly about it! There’s always a panic, and that’s hard to manage. There will be a day when people will panic in the financial markets, not only in the dollar, but in the world-wide system!
- The former member of the House Financial Services Committee explains why his nemesis at the Federal Reserve works so hard to discredit gold, and what he wishes he would have asked Ben Bernanke during his grilling of the Fed Chairman at his House Hearings on the Fed’s Monetary Policy.
with the lowest “approval” ratings in living memory – in the range of a pathetic 7%. Sadly, this dismal approval rating is entirely justified.
But there is one former politician a growing multitude of Americans have come to see as a true statesman, a man who served with integrity and firm conviction deserving respect. The man? Dr. Ron Paul!
The Doc and I had the honor to interview Dr. Paul today, and we’re confident you’ll find his comments and analysis insightful.
We discuss the long-term outlook for the trade and reserve status of the US Dollar, Dr. Paul’s thoughts about his colorful questioning of former Fed Chairmen, the health of the “liberty movement” as something that inspires optimism and a handful of other subjects. I’m not going to spill the beans in my write-up. You’ve got to listen to the interview to truly appreciate Dr. Paul’s wisdom. I will say those 15 some-odd minutes speaking with Dr. Paul flew by remarkably fast. Time flies when you’re having fun — and when speaking with a man possessing profound insight.
Precious Metals Stabilize
I took some flak for stating on last Friday’s show my expectation that precious metals would stabilize this week. Certainly, there was much risk for further downside. Charts looked horrible and with requisite humility, we underscored the potential for further *limited* downside. But the fact is, huge buying interest lurks down at sub $19 silver and sub $1250 gold, while the cartel has limited ability to mobilize physical metal to sustain prolonged moves much below current levels.
We’ve seen this pattern play out before. This week’s trading is nothing new. While the cartel dutifully shows up following key events like today’s jobs report, they have totally failed to generate much downside bellow current levels. Physical market demand is simply too strong, regardless of mainstream financial media malarkey about declining Chinese gold investment demand.
Meanwhile, as the ECB launches an unprecedented negative interest rate policy regime, we see the US stock market reaching new highs. Just take a gander at the performance of the top 100 largest domestic and international non-financial companies listed on the Nasdaq as reflected by the PowerShares QQQ Trust chart above. Fundamentals are not driving this move. The dog-piling into US equities will most likely reverse very soon. My call remains that we’re going to see a stock market decline of at least 9% within 90 days. A deeper decline is justified. But I suspect downside will be capped because the Fed is going to squeal with fear and “jawbone” dovish psychology by first talking about a halt of further tapering, and then become more accommodative thereafter.
Bottom-line: be careful out here. Things are not as the mainstream would have Americans believe. But you already knew that. That’s why you’re here rather than catching the latest episode of “The View” or some other drivel that passes for infotainment.
Switching Gears: The Question Of Federal Control Over Public Lands
I mentioned to Dr. Paul that I’m an organizer for my local chapter of Ron Paul’s Campaign for Liberty. I also serve as the executive director of Stop Land Grab, a non-profit advancing education about public land policy. This weekend, Utah state representative Ken Ivory will be in my neck of the woods to detail strategies advocated by the American Lands Council for the return western state lands under federal control. The conference is worthy of national media attention. But odds are, you will only hear about it from The News Doctors. On a related subject, we’re going to have on-the-ground reporting from the Cliven Bundy ranch next week.
What does this have to do with precious metals, you ask? A great deal! The federal government has proven to be a poor steward of these lands, and that’s having a material impact on the US economy.
Keep your eyes on SD & The News Doctors this weekend and next week. We’ve got access and boots on the ground. We’ll be publishing exclusive stories you will not want to miss.
I’ll toss out one additional link to a “must-read” article for your weekend perusal: Alasdair Macleod’s “Asian Gold Strategy Clarifying.” Alasdair’s geopolitical analysis and speculation in his latest missive is sublime and likely right on target.
Enjoy the weekend!
— Eric Dubin, Managing Editor, The News Doctors
Ron Paul is a former Congressman and Presidential candidate. He regularly contributes his thoughts and ideas to the Ron Paul Channel. Dr. Paul launched the channel in 2013. Learn more at RonPaulChannel.com
Check back this weekend for an exclusive interview with Eric Sprott (available here now), as well as the second interview with Jim Willie, which features the most shocking claim The Golden Jackass has ever made in his illustrious market forecasting career!
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