June Podcast Archives

6.30.11 -- Inflatocrats claim Feds QE2 "worked" (LOL) - Listen

Precious metal prices dipped on Thursday as dollar weakness boosted stocks and commodities. Gold last traded at $1,500 an ounce. Silver rose to $34.72 an ounce.

Morgan Stanley Calls for Higher Inflation - Bloomberg
Gregory Peters, head of global fixed-income economic research at Morgan Stanley, said the operator of the world’s largest brokerage continues to expect inflation to rise over the next year. more...

Welcome to the world of jobless stagflation - Fortune
We're living with slowing growth, high unemployment, and accelerating inflation. Oh, and a Federal Reserve that consistently makes inaccurate projections. more...

The Inflatocracy claims QE2 "worked" - but for whom?
According to one Fed-head, QE2, which ends today, accomplished its stated purpose: "Real interest rates declined, inflation expectations rose, the dollar depreciated, and equity prices rose," said James Bullard, president of the Federal Reserve Bank of St. Louis, on Thursday.

According "The Inflation Deception" authors Craig R. Smith and Lowell Ponte nothing could be farther from the truth unless we define "worked" as moving us ever closer to a dollar crash, permanent unemployment and a euro-socialist poltical/economic system.

6.29.11 -- Sound money shines as dollar wilts -- Listen

Precious metal prices rose again Wednesday as dollar weakness boosted stocks and commodities. Gold last traded at $1,511 an ounce. Silver rose to $34.82 an ounce.

Inflation prospects post QE II - Forbes
The next QE type monetary infusion is coming, sooner or later. The fact is if it doesn’t come via the private banks forthwith, it will come shortly thereafter via another Federal Reserve program. You see, as the Austrians teach, once an inflationary boom begins it by necessity must end in a bust, as the mal-investments created by that inflationary boom are cleansed from the economy by the market.

Economic growth must slow, warns BIS - FT
By Norma Cohen and Chris Giles in London
Global economic growth must slow to curb inflationary pressure around the world, the influential central bankers’ bank has warned, saying...

The Next Financial Crisis Will Be Hellish, And It’s On Its Way - Forbes
“Through quantitative easing efforts alone,” says Euro Pacific Capital’s Michael Pento, “Ben Bernanke has added $1.8 trillion of longer-term GSE debt and mortgage-backed securities (MBS).”

“As the size of the Fed’s balance sheet ballooned,” continues Mr. Pento, “the dollar amount of capital held at the Fed has remained fairly constant. Today, the Fed has $52.5 billion of capital backing a $2.7 trillion balance sheet.

Forbes.com reports “Prior to the bursting of the credit bubble, the public was shocked to learn that our biggest investment banks were levered 30-to-1. When asset values fell, those banks were quickly wiped out. But now the Fed is holding many of the same types of assets and is levered 51-to-1! If the value of their portfolio were to fall by just 2%, the Fed itself would be wiped out.”

6.28.11 -- Metals steady, basket-case dollar replacement -- Listen

Precious metal prices rebounded Tuesday as dollar weakness boosted stocks and commodities. Gold last traded at $1,501 an ounce. Silver rose to $33.96 an ounce.

"Over the long run, gold's prospects will remain intact, as economic and fiscal uncertainties on both sides of the Atlantic are expected to continue boosting the appeal of the metal," according to Dubai-based Richcomm Global Services.

Meanwhile, The London Financial Times reports "Dollar seen losing global reserve status" warning "Reserves managers predict currency will be replaced by basket system".

The US dollar will lose its status as the global reserve currency over the next 25 years, according to a survey of central bank reserve managers who collectively control more than $8 Trillion.

Check out www.inflationdeception.com to discover how to restore economic security, no matter what happens to the U.S. dollar.

6.27.11 -- Stimulus backfired says "Inflation Deception" co-author -- Listen

Precious metal prices eased back Monday on dollar volatility amid global debt concerns. Gold last traded at $1,498 an ounce. Silver fell to $33.75 an ounce.

"Wage earners have not seen a real, inflation-adjusted pay increase in 30 years," said Lowell Ponte, co-author of "Crashing the Dollar" and "The Inflation Deception" to the audience of the Bill Cunningham Show Sunday night.

Lowell reminded the listeners of previous generations when only one full-time working adult could support the family, instead of both adults. "This demonstrates the crushing impact of rising inflation."

Stimulus backfired ... anti-stimulus ... negative effect
This last weekend President Obama said "We can't cut our way to prosperity." And we already know that Obama's policies have proven... we can't borrow your way to prosperity... we can't tax your way to prosperity and we can't spend your way to prosperity.

What Obama will never admit:
- $4.4 trillion stimulus backfired and has become anti-stimulus producing a negative effect.

- A recent study determined that Keynesian theory does not work as intended in advanced, fully wired societies, which seek free markets and anticipate government intervention. The study concluded that Keynesianism only "works" in more primative societies.

6.24.11 -- Metals to shine in reflationary world -- Listen

Precious metal prices slipped 2-4% this week on short-term profit taking amid stock and currency market volatility. buying opportunity. Gold last traded at $1,502 an ounce. Silver fell to $34.32 an ounce.

Gold may gain next week as the European debt crisis and low U.S. interest rates fan demand, according to a Bloomberg News survey that found 12 of 16 traders, investors and analysts expect bullion to climb.

Bernanke Public Approval Rating Hits 2-Year Low. Why?
"QE2 is steaming into port, and Capt. Bernanke is about to broadside the S.S. United States." That's the view of Robert Arnott, founder of Research Affiliates, a Newport Beach, Calif.-based investment management firm.

“Commodities are coverage for inflation surprise...Assets that can serve well in a re-flationary world,”
Arnott said. That means lightening up on traditional stocks, starting with growth stocks, he added, because they're the most expensive, and putting money into assets that can withstand high inflation.

Little Billy tries "The Obama Personal Printing Press" -Shad Olsen Show- Listen
Economic humor: Sad but true parody of why little Billy needs his own personal printing press to keep up with rising inflation. (2 min. audio)

6.23.11 -- Fed puzzled by invisible depression- Listen

Precious metal prices slipped Thursday on short-term profit taking. US dollar rebounds on EU debt worry, sending markets gyrating. Gold last traded at $1,522 an ounce, down 1.75%. Silver traded 3% lower at $35.14 an ounce.

Economic trouble puzzles Fed chief, too
WASHINGTON (AP) - The economy's continuing struggles aren't just confounding ordinary Americans. They've also stumped the head of the Federal Reserve.

Fed Chairman Ben Bernanke told reporters Wednesday that the central bank had been caught off guard by recent signs of deterioration in the economy. And he said the troubles could continue into next year.

"We don't have a precise read on why this slower pace of growth is persisting," Bernanke said. He said the weak housing market and problems in the banking system might be "more persistent than we thought."

Check out www.inflationdeception.com to understand by the Fed pretending to be clueless about the so-called 2011 Recovery.

6.22.11 -- Fedspeak bums bulls, Greeks go for gold -- Listen

Gold prices shot to 7-week high Wednesday on safe haven buying and a weaker dollar. Gold last traded at $1,547 an ounce and silver at $36.28 an ounce.

GOLD RUSH HITS GREECE -- Financial Times
"Greek citizens are emptying savings accounts and buying gold as they brace themselves for the possibility of a sovereign default and a run on the banks.

Pledges by socialist prime minister George Papandreou that his government would "save the country" have been widely discounted by the public.

Tomas, a computer technician, has exchanged his euro savings for gold coins: "I keep them at home just like my grandmother did in the Second World War."

BERNANKE BUMS OUT BULLS - Marketwatch
Federal Reserve chairman Ben Bernanke indicated economic recovery will be slow as the Fed unanimously voted to leave interest rates unchanged.

FED $2 TRILLION “STIMULUS” WAS ANTI-STIMULUS - SATC
Ben Bernanke in the past two years printed $2 Trillion to stimulate America's sinking economy, and the Obama Administration raised our nation's bet on Keynesian stimulus to more than $4 Trillion.

They failed, and America's economic growth has slowed to an anemic 1.8 percent that experts now describe as “stall speed,” a rate that could plunge us back into a Great Recession or even another Great Depression.

6.21.11 -- Metals rise with anxiety and misery indexes -- Listen

Gold prices pointed toward $1,550 an ounce on Tuesday on safe haven buying and a weaker dollar. Gold last traded at $1,546 an ounce and silver at $36.54 an ounce.

WHERE THERE IS MISERY THERE ALSO USUALLY IS ANXIETY
"Such is the case with two economic indicators, both showing conditions that have deteriorated to levels not seen in as much as 30 years. The latest indicator to ring up trouble is the Money Anxiety Index, which is not only at its highest level in 30 years at 91.9 but also two months away from indicating another dip into recession," reports CNBC.

OBAMA'S “MISERY INDEX” WORSE THAN JIMMY CARTER'S
"In 1980 incumbent President Jimmy Carter lost because Republican challenger Ronald Reagan said Carter's “Misery Index” – the combination of unemployment and inflation rates – was ruining the country. It's hard to see how President Obama, whose 'Misery Index' is almost 25 percent worse than President Jimmy Carter's, wins re-election. Hey, it's the economy, Stupid!”

6.20.11 -- "The Inflation Deception" Book Released! -- Listen

Precious metal prices inched higher Monday on safe haven buying despite a firmer dollar. Gold last traded at $1,540 an ounce and silver at $36.06 an ounce.

NEW BOOK REVEALS SECRETS OF AMERICA'S RULING “INFLATOCRACY”
Welcome to the Inflatocracy!
In-fla-TOC-ra-cy (noun) 1. A new form of government of, by and for inflation. 2. Government that deliberately debases its paper money for social engineering, mind manipulation, wealth redistribution, secret taxation and seizing more power.

The Inflatocracy, and the expanding welfare state it makes possible, have brought America to the brink of bankruptcy. Special Book Offer

Gold About to Have Its Status Upgraded? - USF
According to Frank Holmes, of US Funds: Central banks have been on a gold buying spree. In “The Rising Financial Gold Market,” I highlighted how countries, such as Mexico, Russia and Thailand, were adding to their gold reserves. And in 2010, central banks became a net buyer of gold for the first time in 21 years, according to the World Gold Council.

6.17.11 -- Investors jittery, metals steady -- Listen

Precious metal prices rebounded Friday as Eurozone debt default fears eased slightly, US dollar resumes decline. Metal prices ended the week flat with gold closing at $1,540 an ounce and silver at $35.90 an ounce.

U.S. consumer sentiment worsened more than expected in June on renewed concerns about the outlook for the economy, while worries about inflation eased modestly, a survey released Friday showed.

"You cannot afford to have a world economy where these important decisions are postponed because you're really playing with fire," said Jose Vinals, director of the IMF's monetary and capital markets department.

The IMF warned that many emerging markets still need more tightening. In China, for example, the high inflation rate means negative real interest rates. China's inflation rose 5.5 percent to a 34-month high in May, from 5.3 percent in April.

"The Inflation Deception" by Craig R. Smith & Lowell Ponte to be released on Monday! Read more: SECRETS OF AMERICA'S RULING “INFLATOCRACY”

6.16.11 -- EXPOSING AMERICA'S RULING “INFLATOCRACY” -- Listen

Precious metal prices traded flat on Thursday as "Fall of Greece" worries helped prop up the US dollar. Gold prices last traded at $1,528 an ounce, silver prices at $35.55 an ounce.

In his new book, arriving Friday THE INFLATION DECEPTION: Six Ways Government Tricks Us...And Seven Ways to Stop It!, monetary expert Craig R. Smith and his co-author former think tank futurist Lowell Ponte expose the long-unseen powerful forces behind the current economic crisis.

Behind today's crisis is the "In-fla-toc-ra-cy, a new kind of government of, by and for inflation,” that has staged a quiet coup d'etat and replaced the government of America's Founders, writes Smith.

Smith and Ponte offer seven ways we can restore economic stability. And they show how, come what may, you can secure your life savings and protect your family's future while riding out the arriving storm.

6.15.11 --Metals shine as outlook dims--Listen

Precious metal prices climbed again Wednesday on safe haven buying amid inflation and Eurozone worries. Gold prices last traded at $1,530 an ounce, silver prices rose over 1% to $35.81 an ounce.

Fed Expert Admits $2 Trillion “Stimulus” was Anti-Stimulus
Federal Reserve Chair Ben Bernanke in the past two years printed $2 Trillion to stimulate America's sinking economy, and the Obama Administration raised our nation's bet on John Maynard Keynesian stimulus to more than $4 Trillion.

They failed, and America's economic growth has slowed to an anemic 1.8 percent that experts now describe as “stall speed.”

Meanwhile stagflation is staging a comeback. Investors are starting to fret over renewed threat of stagflation, according to Rick Santelli on CBNC.

You remember stagflation from the 1970s. Prices rose, the economy didn't. Well, it seems to be happening again, thanks to the Fed and Obamanomics.

6.14.11 --$5,000/oz. gold by 2015 -- Listen

Precious metals rebounded Tuesday on bargain hunting, a flat dollar and rising inflation. Gold prices last traded at $1,524 an ounce, silver prices rose almost 2% to $35.40 an ounce.

IN GOLD WE (Standard Chartered) TRUST
"In gold we trust is a definitive study of gold mine production from 2011 to 2015. We believe that... limited gold production, buying by central banks and increasing demand from India and China – can potentially drive the gold price to $5,000/oz, as highlighted in our commodity team's earlier report, Gold - Super-cycle to extend above $2,100/oz (April 2011)."

"The gold miners are running to stand still. A lack of funding from equity markets and a shortage of large gold mines makes it difficult for the industry to compensate for the depletion caused by aging mines and falling grades. In our base case, our 375-mine supply model shows net production growth of 3.6% pa. over the next five years."

Swiss America's A Rare Opportunity DVD covers supply & demand fundamentals as one of the 7 major forces driving precious metals prices higher.

6.13.11 --Metals relax, GM pushes inflationary gas tax -- Listen

Precious metal prices dipped again on Monday amid profit taking, stocks flat, dollar down. Gold prices last traded down 1% at $1,515 an ounce, silver prices slipped 4% to $34.78 an ounce.

GENERAL MOTORS, CHRYSLER DRIVING DOWN AMERICA, The CEO of General Motors wants to raise the gas tax by up to $1 per gallon as a way to “nudge” Americans into buying more fuel-efficient cars.

“GM wants to force Americans to buy cars we don't want,” says Craig R. Smith, adding, “Such as the quasi-electric Volt that costs $48,000 and gets as little as 35 miles to a charge-up. No wonder only about 2,000 have sold nationwide since last December.”

Such a tax hike would hurt the poor most of all, warns Smith, author of the book The Inflation Deception: Six Ways Government Tricks Us...and Seven Ways to Stop It!, to be released in June.

“Imagine what an extra $18 per fill-up two or three times each week will do to the minimum-wage worker who must drive 40 miles a day in a gas-guzzler to and from a job,” says Smith.

“And it gets worse,” says Smith, “A $1 jump in fuel prices will also hit all the truckers whose eighteen-wheelers deliver almost everything you buy, including food at your local supermarket.”

6.10.11 --Crashing dollar = U.S. default says China -- Listen

Precious metal prices retreated Friday along with stocks and commodities on China worry. Gold prices last traded at $1,532 an ounce, silver prices at $36.20 an ounce.

Stocks slid for sixth week, suffering the worst streak since 2002 and pushing the Dow below 12,000.

As lawmakers scramble to cut a budget deal and avoid defaulting on U.S. debt, the head of a top Chinese rating agency claims it's too late.

"In our opinion, the United States has already been defaulting," Guan Jianzhong, president of Dagong Global Credit Rating Co. Ltd., the only Chinese agency that gives sovereign ratings, was quoted by the Global Times saying.

Washington had already defaulted on its loans by allowing the dollar to weaken against other currencies -- eroding the wealth of creditors including China

6.9.11 --From two- to five-digit gold prices in 40 years! -- Listen

Precious metal prices rebounded Thursday along with stocks and the dollar on mixed data. Gold prices last traded at $1,544 an ounce, silver prices a at $37.59 an ounce.

FIVE-DIGIT GOLD?
John Hathaway of the Tocqueville Gold Fund believes we are headed ultimately to a one to one ratio between the Dow and Gold, which would put gold over $12,000 an ounce.

One by one the experts are calling for astronomic gold prices in 2011-2012. It is amazing that it took 200 years for gold to rise above two-digits, then in 1973 gold prices topped $100, then four-digits in 2009 and now perhaps five-digits by 2012.

"$12,000 gold would reflect more damage to the integrity of the currency," says Hathaway.

"We have negative interest rates today, negative real rates of around 2 - 2 1/2 percent... If we did have a Volcker moment when you had somebody at the head of the Fed who said, 'We are going to restore integrity to the currency', you would have to raise real rates to three percent.

So negative 3% to positive 3% means six percent nominal times $14 trillion in debt which is $700 or $800 billion, on top of the federal deficit that is already $1.6 trillion. Those are the numbers that tell you that we're basically bankrupt. That's why I say we're past the point of no return.”

6.8.11 -- China warns, Americans fear, Metals steady -- Listen

Precious metal prices dipped Wednesday on profit taking, firmer dollar amid stock market weakness. Gold prices last traded at $1,537 an ounce, silver prices a at $36.77 an ounce.

Sprott Asset Management chief investment strategist, John Embry tells Mineweb.com that he will be surprised if gold doesn't take out $1,650 this summer and head towards $1,800 over the next three months.

CNN reports "Forty-eight percent say that another Great Depression is likely to occur in the next year - the highest that figure has ever reached."

Republican lawmakers are "playing with fire" by contemplating even a brief debt default as a means to force deeper government spending cuts, an adviser to China's central bank said on Wednesday.China is the largest foreign creditor to the United States, holding more than $1 trillion in Treasury debt.

The U.S. Treasury next month will go back to relying on the kindness of strangers like never before to purchase the nation’s burgeoning debts — and taxpayers may have to pay higher interest rates to attract enough foreign investors, analysts say.

6.7.11 -- Fed speaks, markets sell -- Listen

Precious metal prices closed relatively flat Tuesday after Bernanke speech. Gold prices last traded at $1,547 an ounce, silver prices also stable at $37.11 an ounce. Meanwhile Wall Street extends losing streak to fifth day following Bernanke's speech on the economy.

Federal Reserve Board Chairman Ben Bernanke said Tuesday that he is not in the camp of economists worried about a double-dip recession. Stocks wilted after Bernanke’s speech, perhaps on disappointment the Fed was not planning to ride to the rescue with another asset-buying plan.

Traders Are Dumping Stocks and Buying Gold and Silver - CNBC Many traders are choosing gold and silver as a refuge over stocks right now. Are these precious metals really that much more valuable?

"Gold is more valuable at this juncture as the flight to quality accelerates," said Stephen Weiss of Short Hills Capital. "Global equity indices will all be in decline as multiple growth engines sputter: US, China, Eurozone and Japan. Only place is commodities, and specifically gold, because that is where perceived safety and momentum will be."

6.6.11 -- Metals glitter amid global jitters -- Listen

Precious metal prices climbed again Monday on safe haven buying amid global economic jitters. Gold prices last traded at $1,544 an ounce, silver prices at $36.80 an ounce. U.S. job gains slow a crawl in May, 9.1% unemployment. Investors concerns; slow recovery, global instability.

CHRONIC UNEMPLOYMENT WORSE THAN GREAT DEPRESSION -CBS
Reports show that the chronically unemployed have the hardest road back to recovery. Almost half of the unemployed have been so for longer than 6 months. Another problem the unemployed face is running out of their unemployment benefits, leaving them with nothing.

THE INVISIBLE DEPRESSION -SATC
“Sadly the U.S. has become a parasitical society, which contains more parasites than hosts. Forty-seven percent of working-age Americans pay no federal income tax. Seventy-one percent of Democrats polled favor further redistribution of the wealth! More...

To help Americans grasp the urgency and gravity of our present situation Mr. Smith has written an easy-to-read White Paper outlining the sneaky ways government uses inflation to rob Americans of life, liberty and property and how to protect wealth.

6.3.11 -- Metals rise amid stalled U.S. recovery -- Listen

Precious metal prices rose Friday on safe haven buying amid downbeat jobs data and a weaker dollar. Gold prices last traded at $1,542 an ounce, silver prices at $36.27 an ounce.

U.S. job gains slow to a crawl in May, unemployment rises to 9.1%
Nonfarm payrolls increased 54,000 last month, the Labor Department said on Friday, just over a third of what economists had expected.

Moody's warned the US government earlier today that it's credit rating could be downgraded within the next few weeks if Washington can not reach a deal on increasing the nations borrowing limit.

Contrarian likes bonds, expects $3,000 gold
Uncertainty and rising volatility is good for both bonds and gold, which finds new life among central bankers as an alternative form of currency that pushes its price to $3,000 an ounce, according to economist David Rosenberg.

'Invisible Depression' fueled by deceptive inflation
According to Craig R. Smith, "America today is very different than 1929. With 44.5 million on Food Stamps – up by nearly 40 percent since President Obama took office – and combined unemployment and underemployment stuck at 1930s levels, we are already living in an Invisible Depression."

6.2.11 -- Metals reflect "Invisible Depression" -- Listen

Precious metal prices dipped Thursday on downbeat economic sentiment, weaker dollar. Gold prices last traded at $1,533 an ounce, silver prices slipped to $36.15 an ounce.

Just when the experts said to expect a recovery… a cacophony of bad economic news rang through Wall Street - declining home prices and a major slowdown in job growth - prompting a sell-off.

“The reality is,” explains Swiss America Chairman Craig R. Smith, “we have entered The Invisible Depression.

Today's bread lines and soup lines may not be visible, but they are just as real. As famed Chief Economist for Gluskin Sheff, David Rosenberg, put it: “The modern day soup line is a check in the mail.”

We are using virtually the same economic playbook used during the first Great Depression, resulting in a false recovery, followed by the most painful contraction in U.S. history.”

Read Mr. Smith's newest economic special report to protect your family and your assets.

6.1.11 -- Gold up, silver down on economic gloom -- Listen

Gold prices climbed on safe haven buying Wednesday amid dollar weakness and downbeat economic data.
Gold prices last traded at $1,540 an ounce, silver prices slipped 5% to $36.92 an ounce. Meanwhile, U.S. stocks fell over 2% as Wall Street scaled back its economic growth outlook for 2011.

U.S. Economy turning into a "horror show"
The last month has been a horror show for the U.S. economy, with economic data falling off a cliff, according to Mike Riddell, a fund manager at M&G Investments in London.

"It seems that almost every bit of data about the health of the US economy has disappointed expectations recently," said Riddell, in a note sent to CNBC on Wednesday.

Is QE3 already in the works?
According to expert Simon Maughn at MF Global, the direction of economic travel is going downwards and therefore a third round of quantitative easing is going to come. This will also drive commodities back up.

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