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"And I beheld, and heard the voice of one eagle flying through the midst of heaven,
saying with a loud voice: Woe, woe, woe to the inhabitants of the earth....
[Apocalypse (Revelation) 8:13]

Friday, August 25, 2017

Rickards: September Meltdown Ahead

Rickards: September Meltdown Ahead
Plus, the Economic crash is coming!
Not all opinions expressed are that of tradCatKnight's

Jim Rickards’ latest New York Times bestseller, The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis, is out now. Learn how to get your free copy – HERE. This vital book transcends rhetoric from the Federal Reserve’s quantitative tightening program to prepare you for what you should be watching now.]
Jim Rickards joined Alex Stanczyk at the Physical Gold Fund to discuss current destabilizing factors that could drastically impact investors. During the first part of their conversation the economic expert delved into gold positioning for the future, the expanding threats from North Korea and liquidity in global markets.


To begin Rickards’ was prompted on his latest analysis over North Korea and the international threat the country poses going forward. The currency wars expert urged, “The fact is, the threats from North Korea, even if not to the mainland, still threaten U.S territory.  There are a lot of Americans living there. As this escalation continues in sequence the problem is not new.”
“The threat of North Korea has been going on for decades and has escalated since the mid 1990’s. Bill Clinton and George W. Bush both offered sanctions relief for the country in exchange for program reductions. The Obama administration essentially did nothing for eight years. I do think the Trump administration at least deserves credit for clarity.”


Coming Soon, Worst Crash of Our Lifetime

 

  On June 9th, Business Insider CEO Henry Blodgett interviewed legendary investor Jim Rogers about his predictions of a coming crash:
Blodget: And how big a crash could we be looking at?
Rogers: It’s going to be the biggest in my lifetime, and I’m older than you. No, it’s going to be serious stuff. You’re going to see governments fail. You’re going to see countries fail, this time around. Iceland failed last time. Other countries fail. You’re going to see more of that.
You’re going to see parties disappear. You’re going to see institutions that have been around for a long time — Lehman Brothers had been around over 150 years — gone. Not even a memory for most people. You’re going to see a lot more of that next around, whether it’s museums or hospitals or universities or financial firms.
TOTAL MARKET DEBT AS PERCENTAGE OF GDP

When economic warnings increase, those entrusted with the care and feeding of the bankers’ confidence game take extra-steps to reassure victims of capitalism’s credit and debt feeding-frenzy that everything is alright, there is nothing to worry about, that taking out a loan for a vacation, for a home, for a college education, etc. should not be a concern; that tomorrow’s economic expansion will pay back today’s and yesterday’s borrowing, that the economic tooth fairy is real and the metastasized deflationary forces eroding global economic growth are nothing to worry about.
I don’t believe we will see another financial crisis in our lifetime.
Janet Yellen, Fed Chair, June 27, 2017


THE TIME OF THE VULTURE
In 1991, during a prolonged period of meditation, the following words came to me:
In times of expansion, it is to the hare the prizes go. Quick, risk taking and bold, his qualities are exactly suited to the times. In periods of contraction, the tortoise is favored. Slow and conservative, quick only to retract his vulnerable head and neck, his is the wisest bet when the slow and sure is preferable to the quick and easy.
Every so often, however, there comes a time when neither the hare nor the tortoise is the victor. This is when both the bear and the bull have been vanquished, when the pastures upon which the bull once grazed are long gone and the bear’s lair itself lies buried deep beneath the rubble of economic collapse.
This is the time of the vulture, for the vulture feeds neither upon the pastures of the bull nor the stored up wealth of the bear. The vulture feeds instead upon the blind ignorance and denial of the ostrich. The time of the vulture is at hand.
In 1991, those words appeared implausible and far-fetched. Today, they are eerily prescient. Jim Rogers’ prediction of the collapse of governments and countries as well as the disappearance of such ubiquitous institutions as [political] parties, museums or hospitals or universities or financial firms coincides with what I wrote in 2011:
Humanity is in the midst of a momentous paradigm shift. Governments will fall, natural disasters will increase and the present world will pass away, paving the way for the better world that is to come.
DRSchoon, Silver, the Canary in the Gold Mine, April 12, 2011
Today, humanity is in the midst of a paradigm shift of historic proportions. It is not just capital markets that will change. Today’s paradigm shift involves the rebalancing of universal polarities, e.g. yin and yang, male and female, east and west, light and dark, etc. and while resistance to the new paradigm is evident, e.g. the election of Donald Trump, the GOP war on women, the rise of the alt-right/alt-white movement, i.e. Steve Bannon’s “rootless white males” (his description), etc; such resistance is as futile as it is dangerous.
The current dysfunction of the US presidency and the inability of the two-party system to govern effectively are indications of the widespread institutional failures that occur during deep change, i.e. paradigm shifts. We are in such a period today.
The world is always changing—but not always in the same way. We..find empirical evidence of distinct “change-regimes” in the past [that] were often highly dynamic, but stable in their dynamism. Sooner or later, even the strongest of these change-regimes broke down in moments of what might be called “deep change”.
In periods of deep change, understanding lags behind the movement of events. The world changes faster than our thoughts about it. For example, in the late 1990s, central bankers in many countries continued to think of themselves as inflation-fighters in a new era when greater dangers rose from disinflation or even deflation. Economists in the 1990s (monetarists especially) predicted that large increases in the money supply would cause inflation to pick up again, as would have happened a generation ago. But other factors have been more powerful.
In the United States problems of economic understanding have been compounded by the effect of economic prosperity. The Japanese in WWII spoke ruefully of “shoribyo”or “victory disease”. The Greeks called it hubris and thought it always ended in the intervention of the goddess Nemesis. That lady makes her appearance when wave-riders begin to believe that they are wave-makers, at the moment when the great wave breaks and begins to gather its energy again.
David Hackett Fisher, The Great Wave, Price Revolutions and the Rhythm of History, Oxford University Press, 1996
Our inability to understand deep change is exacerbated by our lack of an experiential context; and the more radical and profound the change, the less we are able to understand and/or accept it. Deep change, however, occurs irrespective of our understanding, acceptance or resistance.
THE CONTEXT OF DEEP CHANGE
My observations of deep change and history did not begin in Hungary in 2007. It began fifty years ago, in 1967, in San Francisco’s Haight-Ashbury district. Ignited by a covert CIA mind control experiment using LSD, see Project MKUltra, the results were not what the CIA intended or expected.
Instead of LSD being used to breakdown Russian agents, it liberated America’s youth from the collective straight-jacket of social repression and cultural control, much to the chagrin of their economic overlords and cultural controllers.
One year before, in 1966, I was a student at Hastings College of the Law in San Francisco studying torts, procedure and criminal law. One year later, I was living on Haight Street and working at the Family Dog’s Avalon Ballroom, the storied venue that hosted the Grateful Dead, Janis Joplin and Big Brother and the Holding Company, Country Joe and the Fish, etc.
That I, a hippie, would fifty years later be writing about credit and debt, the global economy, fiat money and gold was then inconceivable. So, too, is what may happen to the Earth and all those on it.

The Old Economy Is Giving Way To A New Economic System -