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Mike Maloney: The Rollercoaster Crash
Submitted by Adam Taggart via PeakProsperity.com,
Precious metals sank to 5-year lows during this past week. The long painful price decline that began at the end of 2011 still continues unabated. Holders of gold & silver are understandably wondering if their faith in precious metals has been misplaced.
In this week's podcast, we invite Mike Maloney back on the podcast. Mike is the owner of one of the largest bullion dealers in the US, GoldSilver.com, and one of the top minds we know of on monetary history. In this wide-ranging interview -- which announces the release of a new educational video, The Rollercoaster Crash, which kicks off Season 2 of GoldSilver's excellent video series Hidden Secrets of Money -- Mike lays out the rationale for an approaching global reset of the existing fiat currency regimes, and why asset-backed currencies are highly likely to return in our lifetime:
History shows that whenever there is a problem with the currency, whether it is big inflation, hyperinflation, or deflation, people go back to safe haven assets. And we should be going into a deflationary episode that is overreacted to that causes big inflation or hyperinflation, which causes a breakdown of the current global monetary system, the global dollar standard that is now the longest-lived of these artificial monetary systems and has developed a bunch of stress cracks and is in the process of imploding right now. There is going to be before the end of this decade, most likely, another emergency meeting of a bunch of finance ministers and economists to try and hash out another world monetary system. It is just history repeating, and it is a natural consequence of a man-made, artificial manipulation of the free market.
But if this debt-based currency system has to evolve, switchover to some sort of asset-based currency system or currency system that is a free market thing, I am fine if the free market selects Bitcoin or if it selects gold or silver again like it has for the past 2500 years -- it keeps on selecting gold and silver as the optimum money. I am fine with whatever the free market picks. And I believe it will lead to greater prosperity. But we are in for some short-term pain. The good news is that for somebody that is properly positioned, it can be the best thing that ever happened to you because of this enormous wealth transfer. If currency a fails, its price measured in gold goes to infinity.
Today, there is about $200 worth of gold, investment-grade gold, per person. And there is about $40,000 worth of other liquid financial assets that compete in storing purchasing power. And so those liquid financial assets such as cash, stocks, and bonds, the problem with them is that their purchasing power can evaporate. It is something that is just based on trust. And if just 10% of those liquid financial assets come chasing gold, gold’s purchasing power has to rise 20-fold.
Click the play button below to listen to Chris' interview with Mike Maloney (78m:22s)
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If you don't hold them, you don't own them.
Hear that Yellen? When will you fucking wake up to main street?
Yes, the dollar is headed to a Basket alright. But it is not the basket of currencies every one is thinking about. It is the basket that catches the severed heads of those phony fiat currencies that are backed by nothing, and filling those baskets by the guillotine of truth.
I like Mloney, very cogent, big picture thinker. He's like martin armstrong but without the existential angst
yuh. Armstrong needs to get laid bad.
Mike was just a guest on Greg Hunter's USA Watchdog show a few days ago as well. Greg Hunter always interviews great guests.
https://www.youtube.com/watch?v=6PZ3-Rg7x7w
He does.....but he's also a zio shill.
All site comments completely censored regarding his beloved Bibby or sny Zio criticism. Guy's a fcking shill.
yeah, a recent (thisyear) interview with Catherine Austine Fitts I was surprised to hear Greg spouting off like a televangelist born again bible thumper ...
usually his interviews are real good, and his own inputs are a fresh welcome from stale interviewers ... but the above referenced interview was over the top ... definitely proclaimed to be Israel Firster .... the Muzzies are gonna get us !!!!!
crazy times
The show will go on...
...as long as they can afford the stage hands...
Yup. I tried to call him out on that in his comments section and everything I wrote just got excised. Haven't been back since.
The ones with big money will make the decision on what, if anything, replaces the $, the market will not determine anything. Until their wealth is protected, fiat will remain. I think it will be some $/Euro/Pound/Yen(?) mutation, something, anything but the yuan. Whatever it is, it will be a stepping stone to a global, at least a Western monetary system, Yellen on steroids. Also the time to end cash, no currency, just 0/1s. Along with that comes a cold war with China, until it heats up. Guessing obviously.
Don Lapre rose from his grave and became Mike Maloney schlepping PMs.
I'm glad to know you'll be packing my groceries, but for god's sake, don't put the eggs on the bottom again!
Press mY button
its called 'Churning'
In the cycle of things the dollar must crack first. Hence we going the other way for now. That said, the end is near.
After the FED raises rates and then lowers again, could be a turning point. Even a bout of more QE would do the same.
LOL gold as an investment. Ammo is a far better investment if you're preparing for civilization to fall.
Any useful commodity other than cash is good. Ammo? Well, it's good. But I wouldn't go overboard. Not everybody is planning on shooting somebody. And if they are, they probably have enough put away to do that already.
Why do you assume the two must be mutually exclusive?
More Maloney baloney... "How I got rich selling stuff to idiots."
I'd actually believe that Mike makes more money for himself on the talk circuit than on the margin selling PMs these days, but then again I have no idea what kind of volume he clears.
cash was king
Cash is still King.
Historically deflation precedes the Hyperinflation.
Hyperinflations are POLITICAL EVENTS.
When the horrors of the massive deflation headed our way devastates a hundred million people...and you ain't seen nothing yet...total destitution ain't all that pretty...the plebes will ve screaming at the politicians to do something.
And do something they will. They will start the printing presses like there is no tomorrow...as there IS NO TOMORROW if they do not do something about it. AND THAT IS POLITICAL. If that is not pandering to the masses with their pitchforks then I know not what is.
Yes. Hunger is a strong motivator. Hungry people will use them Pitchforks if their leaders do not act...Are you going to let your child scream in hunger???
Hmmm...See what happened to Louie and Marie Antoinette if ya all have any doubt.
So yeah...Cash is King...for the next six months or so.
I can hardly wait for the LACK OF OIL, caused by the deflationary Oil Bust, that shuts down PRODUCTION.
Without Oil the crops will rot in the fields as there will be no way to bring it to market.
So do not be an IDIOT and claim that it cannot happen here.
Yeah Auntie Yellen...Pleeeze raise those rates.
I want to see Wall Street Traders and Bankers heads upon the pikes. Their days are numbered....Those short sighted greedy financial parasites.
Anybody who makes their living from financialization is in danger of being executed by the masses for their fraudulent and corrupt actions as they were complicit in bringing about the suffering.
I hope you're right. Justice requires serious casualties for our national sins. Bankers and Wall Street at the top of the list, but also the smut-peddlers, title-loan sharks, big pharma, and others. You think within six months? So optimistic!
And there are some who call me a pessimist. Imagine that.
I hope you're right. Justice requires serious casualties for our national sins. Bankers and Wall Street at the top of the list, but also the smut-peddlers, title-loan sharks, big pharma, and others. You think within six months? So optimistic!
"Are you going to let your child scream in hunger???"
Technically, if what you describe comes to fruition, grandparents will be hungry too. The 35 year old schlep is so hit.
Oh I am very certain of that technicality.
However I will disagree as it will be the 25 year old to 40 year old who will actually stands the best chance of survival in terms of health and strength.
Elderly, children, and the weak shall perish from disease and famine. The ravages of hyperinflation will wipe out many "useless eaters". Most likely I will be included in that group...playing it by the odds and my circumstances.
It is not going to be a pretty picture.
Look at what happened to the population of the former Soviet Union during their collapse...That is a good model for what will happen here. There will be over 100 Million dead as a result.
Have fun burying the dead. Think of it as job security.
And to my junker, who cannot even pen a counterargument response...
Sorry that you are going to be disillusioned. Yes the reality will be horrendous. Maybe it is toodiscomforting for you tothink about.
But look at your hands. If they are calloused and scarred, from actual work, then you stand a much better chance.
Remember the Hooker in "Trading Places" that looked at Winthrop's hands and declared that he was not lying as he had never worked a day in his life.
Yeah. Do you have those Girly Hands?
If you do you will most likely succumb.
Actually Harry Dent is quite descriptive of the Hyperdeflation...Although he does not believe that a hyperinflation will follow I would listen to his warnings, along with Mike Maloney, and take steps to hedge my bets.
Mike Bologna might as well join Dennis Gartman soon. Nothing he said for the last 5 years actually happened but sounded so convincing
i think he's actually been pretty accurate. In 2005/6 he said Small deflation, countered by expansionary monetary policy resulting in moderate inflation, followed by massive deflation then massive inflation. We are in the midst of the third of those three. Where's the inaccuracy? He hasnt been specific on timing but only fools are
For some visionaries a visit to the Trading Houses and Trading Firms would be a blast.
I've always liked hearing him talk and discuss various economic aspects of the unfolding disaster which would have occurred alot earlier had not the massive manipulation of the markets.
He was on Greg Hunter last week, said the same.
They - the central banks - are out of options. So much so, they are thinking of bat sjit crazy ideas how to handle the next, and inevitable, recession/depression.
Cash Hand Outs:
http://www.newyorker.com/magazine/2015/11/23/printing-money-books-john-c...
People will use found money to pay down debts, so the money will flow right back to the banks. And if people pay down their debts faster, it may get them spending again faster. They just might be crazy enought to try it, if the banking overlords let them.
Paying the debts is worse for the banks. You are cancelling currency when debt is paid off. They would rather have your asset, probably. Real estate, etc.
Anyone who does not understand why paying off the huge debts that exist, especially government , would crash the system, need to learn more.
" They" need, require,desire, want....MORE debt!
Today, debt= money. 100%.
Pay off debt, destroy money.
More debt , create money.....out of thin air.
It should be criminal.
Are you retarded?
Most people will go and buy new cars, TV's go on vacation...the last thing people will do is act responsibly.
I did the right things and spent the hour listening first.
What did I learn that's new?
Mike malhoney is now pimping Dent. Good grief.
We didn't have tech and bombs for the past 2500years. It's hard telling what will materialize out of this pile of shit.........except it will be no surprise if it's an even bigger pile.
Global monetary rest soon...countries with the most gold will come out on top.
Global monetary rest soon...countries with the most gold will come out on top.
I caught the Greg Hunter interview and also a Dent/Maloney presentation recently. Logical, understandable and believable. Nothing much new here, but the demographics thing that Dent preaches makes plenty of sense. I'll be lucky to collect SS and US could easily be Japan esque for a decade or better.
Not long ago the deflationists were being marginalized and mocked. Turning out to be dead on and this has been my working assumption for some time now. Pared down expenses, one local bank account with minimal balance, down to one vehicle, wiped out debt and grabbed up some practical stuff. Still have two properties to unload in FL, both with good equity and I hope I can sell before prices go too far south. As soon as they're gone we're out. Child in San Diego, and I expect she'll join us sooner rather than later.
The King Dollar run could last much longer than most believe. The rest of the world is in the toilet and the criminals will continue to pull the right strings to benefit themselves. That means US centric control of this shitshow. RE nationwide likely to start a steady downward trend, and places like Houston (I lived there for nine years) are heading for a world of hurt. I'd expect layoffs in tech to be the thing that wakes more folks up to the mirage. Imagine the RE collapse in The Valley. It's inevitible.
I'm a silver bug and consider it the best low cost investment for me. It'll take awhile, but IMO inevitible also. I'm thankful for the time, as it's one logical move for this Smuck to function moderately when this all goes south. Luckily I have an agreeable spouse who understands what the fuck is going on.
We should all be hoping for an extended and indefinite move sideways. Time is a commodity.
Peace
My "flight to safety" was treasuries, turned out to be the best investment of my life - I have been collecting interest, have HUGE capital gains that I can collect anytime, and if I hold to maturity I will get paid par. No inert substances that can, and have, decline in value, for me.
If it's not a thing you are holding NO-THING! Just a promise! Think about it.
More irrational dogma from the PM cult.
My Karma ran over your dogma...
You will continue losing BIG on your shiny lead.
While I will be earning income, have the option of selling for capital gains, and will get my investment returned.
I would normally feel empathy for an investor who is losing money, but you are a fool and deserve your fate. I hope you ride the PM decline into bankruptcy.
trollin trollin trolinnn...
Crash can happen anytime
You realize Maloney just said:
All we need is a twenty-fold increase in demand, for gold's purchasing power to rise twenty-fold.
....yeah?