Friday, February 27, 2015

Peter Grandich & Bob Hoye

February 27, 2015

Featured Guests
Peter Grandich &Bob Hoye
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Interview Summaries
Summary:
  • According to Peter Grandich every investor needs a financial bug-out plan.
  • This week's Congressional meeting did little to restore Fed transparency.
  • It's time to pull the curtain back at the Fed; gold stockpiles require a third party investigation.
  • When the truth becomes widely known that the gold reserves have likely been rehypothecated into extinction, the repercussions could be intense, rocking the foundations of the global financial markets.
  • Thanks to decades of fiscal irresponsibility, the Fed has been forced to shoulder the full responsibility, an impossible task over the long-term.
  • The currency war now includes a race to debase the national currency before the neighbors, to stimulate economic output and postpone the inevitable day of reckoning.
  • In the next financial crisis, few life rafts / boats will be available.
  • Peter points to former Fed Chief, Dr. Greenspan's quote from an article in the Wall Street Journal (2014), "Gold is currency... No fiat currency, including the dollar, can match it."
  • Bob Hoye views QE operations with a weary eye - noting the 95% loss in purchasing power.
  • Central banking profligacy has sparked a speculative fervor / mania.
  • The resulting financial bubble is approaching or at a zenith, circa 2007.
  • Gold has found a firm footing; a rally is imminent.
  • A 5-10% portfolio position in the yellow metal is advisable.
  • Market weakness is an opportunity to accumulate junior shares, particularly those with relatively robust earnings prospects.

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Chris Waltzek:
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