The Daily Bell is pleased to present an exclusive interview with Rick Rule.
Introduction: Rick Rule began his career in the securities business in 1974, and has been principally involved in natural resource security investments ever since. He is a leading investor specializing in mining, energy, water, forest products and agriculture. A popular public speaker, Mr. Rule is a featured presenter at investment conferences and resource investment forums th... (more)
Rick Rule is very smart, I highly recommend watching his videos on Youtube and listening to his interviews on King World News. - Chris
This is not just another depression, the US is facing hyperinflation and total collapse. The US raising rates to 21.5% as Paul Volcker did is no longer an option, our government is far too indebted to do such a thing, it's either hyperinflate or default.
It's in the government's best interest to hyperinflate their way out of their debt, it's in the people's best interest to have the government default and officially go bankrupt.
Obviously the government will act in it's own best interests and run the printing press full bore, they already have begun to do just that, hence gold at $1410.
Keep in mind Pritchard supported the bailout and later "apologized." Unfortunately, we'll probably have to wait 10-20 years before he admits he was wrong on this too. - Chris, InfoLib
"If Cramer is saying Gold is a good place to be... it will probably correct soon." - Youtuber
I had the same thoughts, Jim Cramer is consistently wrong, he's not a stock trader but a propagandist, I believe doing the opposite of whatever he recommends would be consistently profitable, I remember there was a report a little while ago that his picks did worse than just buying the DOW.
That said, I don't think gold is going down (a correction perhaps, but probably not more than 10% or so). Basically everything he says in this clip is just repeating what real investors like Eric Sprott have to say, IE, gold and gold stocks account for less than 1% of global assets (I posted a picture with it a little while back).
Is he just jumping on the bandwagon? Did he demonize gold in the next sketch? He sure as hell wasn't giddy about it. ...This is very hard to judge. - Chris
"...The Federal Reserve is not a repair shop for broken fiscal, trade, or regulatory policies. Given what ails us, additional monetary policy measures are, at best, poor substitutes for more powerful pro-growth policies. The Fed can lose its hard-earned credibility--and monetary policy can lose its considerable sway--if its policies overpromise or underdeliver. We should be leery of drawing inapt lessons from the crisis to the current policy conjuncture. Lender-of-last-resort authority cannot re... (more)
The essential features of the boom-bust business cycle can be understood by viewing them in terms of the financial circumstances of a single individual.
Thus, imagine that an ordinary person has been going about his life more or less living within his means. And now, one day, he receives a registered letter from a major bank. The letter informs him that he is the sole heir of a distant relative who possessed a substantial fortune, and that he should come into the bank's main offic... (more)
That said, it's almost %100 that nothing will come out of it. It's not in ANY government's best interest to have a gold standard (at least, not a real gold standard with 100% reserves).
The power of the printing press is every government's most prized possession. They won't give it up and you can be sure they'll use it until it's worthless and then try to resurrect the scam again.
I do think it's possible that perhaps they will suggest a world currency with partial gold backing just to give it some allure. Anything less than 100% backing is a fraud. Even if they said 100% gold-backing, while that's theoretically better, it's still a fraud because they would just ditch it after a few years. Governments shouldn't control money, the private sector should and it should be an open market.
Governments can't be trusted to run trash pickup nor the mail, they cannot be trusted to control our money supply. - Chris
EAST ALTON • The Olin Corp. said Wednesday that it will put its money where its mouth is — in Mississippi.
A day after union workers rejected for a second time a contract that might have saved their jobs, the Metro East company told them it was moving about 1,000 ammunition production jobs from Metro East to Oxford, Miss.
As members of the International Association of Machinists and Aerospace Workers District 9 left the East Alton catering hall where the ballots wer... (more)
Leading economies should consider readopting a modified global gold standard to guide currency movements, argues the president of the World Bank.
[...]
Mr Zoellick, a former US Treasury official, calls for a system that “is likely to need to involve the dollar, the euro, the yen, the pound and a renminbi that moves towards internationalisation and then an open capital account”. He adds: “The system should also consider employing gold as an international reference point of market ex... (more)
These people are not all idiots, they know what is coming and they're preparing for it.
Federal Reserve Chairman Ben S. Bernanke said the central bank must focus on the U.S. rather than overseas economies when trying to spur the recovery by purchasing an additional $600 billion in Treasuries.
“Our first objective, the first goal that we have, is to meet our mandate to get price stability and maximum employment in the United States,” Bernanke said yesterday in response to questions from college students in Jacksonville, Florida. “A strong U.S. economy, a recovering ec... (more)
The following chart prepared recently by JPMorgan demonstrates something rather scary, and makes it all too clear how the Chairman's plan to "assist" the US population via some imaginary "wealth effect" due to QE2, is about to backfire. As is now becoming very evident, the prices of energy and food products are about to surge, and in many cases have already done so, but courtesy of some clever gimmicks (Wal Mart selling what was formerly 39 oz of coffee as a 33.9 oz product for example) the ... (more)
Everyone is singing the praises of the Federal Reserve's next round of "Quantitative Easing" to the tune of nearly $1 trillion. Those in favor extol the virtues of the magical printing presses as if we all had been given a free cruise on the ship Queen Elizabeth 2. The truth for most of us is closer to 3rd class tickets on the Titanic.
Quantitative easing is simply printing more money. Normally the Federal Reserve buys government bonds passively to maintain its interest-rate targe... (more)
Millions of American families are about to be broadsided by rising gas and food prices and most of them don't even realize it. You see, most Americans stop listening when terms such as "quantitative easing" and "agricultural commodities" are brought up, but when millions more Americans are faced with a choice of either feeding their families or heating their homes this winter, maybe then they will start listening. Even before the Federal Reserve announced the latest round of quantitative easin... (more)
On June 3rd, 2009 Federal Reserve Chairman Ben Bernanke promised the U.S. Congress that the Federal Reserve would not monetize the debt of the U.S. government. On November 3rd, 2010 the Federal Reserve announced a massive quantitative easing plan which will involve the purchase of 600 billion dollars of U.S. Treasury securities by the middle of 2011. Creating 600 billion dollars out of thin air and using them to buy up U.S. government securities is monetizing the debt. So Federal Reserve Cha... (more)
Today the financial world was buzzing with excitement because there was one moderately good piece of news for the U.S. economy. U.S. employers added 151,000 jobs during the month of October and the unemployment rate remained unchanged at 9.6%. This is certainly welcome news, but these days it seems as though there are at least ten pieces of bad economic news for every hopeful economic signal. So don't get fooled when the U.S. economy takes one step forward, because it is about to take another... (more)
Federal Reserve Chairman Ben S. Bernanke’s decision to pump a further $600 billion into the economy shows his grasp of economics is weak, said investor Jim Rogers, chairman of Rogers Holdings.
“Dr. Bernanke unfortunately does not understand economics, he does not understand currencies, he does not understand finance,” Rogers, 68, said in a lecture at Oxford University’s Balliol College yesterday. “All he understands is printing money.”
Buckle up and hold on - a new round of quantitative easing is here and things could start getting very ugly in the financial world over the coming months. The truth is that many economists fear that an out of control Federal Reserve is "crossing the Rubicon" by announcing another wave of quantitative easing. Have we now reached a point where the Federal Reserve is simply going to fire up the printing presses and shower massive wads of cash into the financial system whenever the U.S. economy is... (more)
Goldman: "In practice, QE2 is likely to continue well beyond June 2011—at least well into 2012—if our forecasts for unemployment and inflation are close to the mark. We believe that purchases could ultimately cumulate to around $2 trillion...Under our longer-term projections it is easy to come up with models that show no tightening until 2015 or later." In other news, the economy will not recover for the next five years, but under the Centrally Planned Feudal State of Bernank... (more)
This week's episode of 60 Minutes featured a 13-minute segment on "taxing the rich" in order to cure the government's debt problem. In addition to being an outrageously biased story, the coverage was filled with more economic fallacies than I can address in a single article.
"Progressive" Income-Tax Codes Lead to Volatile Revenues
