Financial Sense Newshour
Following the FOMC meeting and extension of Operation Twist, Erik reviews the macro backdrop with Dr. Chris Martenson of PeakProsperity.com.
Jim welcomes back technician Shelley Moen CMT from Vermilion Technical Research this week. Shelley’s current advice is to stick with the defensive trade; utilities, staples, bonds, as she sees the economy getting weaker prior to the fall elections.
In this segment, Jim looks at a number of specific examples in Taxmageddon (part 2) for how the new tax changes in 2013 will impact taxpayers in various brackets and situations. Jim also takes a look at the new version of Operation Twist just announced by Ben Bernanke and the Federal Reserve. Jim also answers more of your Q-Calls this segment.
In this installment of the Lifetime Income Series, Jim discusses creating your own pension plan that will give you stable income and allow you to plan a realistic retirement. Jim also takes more of your Q-Calls this segment.
Jim welcomes back JKC de Courcy, editor of Courcy’s Intelligence Brief in London. JKC and Jim discuss a number of geopolitical flashpoints, from the Middle East to Asia. JKC sees increasing odds of an Israeli "first strike" on Iran to slow its nuclear program. Jim and JKC also look at the recent events in Egypt and how they relate to Israel and the stability of the region. JKC also sees further sectarian violence in Iraq and Syria, adding to the instability.
Jim is pleased to welcome back John Doody of the Gold Stock Analyst. John discusses the catalysts for the next gold stock rally, the Yamana takeover of Extorre, the disadvantages of GLD, and why John owns gold coins. As to silver, he believes it will ultimately be gold "on steroids."
Jim welcomes back Karl Denninger from The Market Ticker. Karl discusses the "end game" and why we could see 2008 all over again. He also looks at the derivative ticking time-bomb when it might finally detonate. Karl also discusses why the VAR risk model, the Efficient Market Theory and the Capital Asset Pricing Models are all flawed.
Jim welcomes back John Williams from Shadow Government Statistics. John sees no real economic recovery, as his work shows the government is understating the inflation rate, which overstates the already feeble GDP. John can’t see a way to avoid the hyperinflation scenario for 2014. He believes the real US budget deficit, on a GAAP accounting basis, is over $5 trillion per year, heading to $6 trillion. He also notes that real wages have been declining since the 1970’s, and the Net Present Value of all future government liabilities now exceeds $100 trillion.
Few investors are fully aware of the extent to which arbitrage influences precious metals markets, including Commitment of Traders reports and other data commonly used in fundamental analysis. In this interview, Perth Mint's Bron Suchecki gives listeners the low-down on how price is transmitted through arbitrage between both physical locations and various investment instruments.
Jim is joined this week by technician Alan Newman, who sees the gold consolidation as very healthy. Alan also believes that High Frequency Trading makes price discovery virtually impossible.