Friday, April 17, 2015

John Embry and Harry S. Dent Jr.

April 17, 2015

Featured Guests
John Embry & Harry S. Dent Jr.
(alphabetical guest order)
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Summary:
  • Economist and best-selling author Harry S. Dent Jr., returns to the show with analysis on the Greek debt crisis
  • The Grexit is merely the tip of the iceberg, the US and most developed nations have accumulated enormous debt burdens, under the guise of entitlement programs.
  • Given that the Grexit appears imminent, our guest thinks Spain and Portugal could be the next to face debt issues.
  • Credit risk is increasing - investors must anticipate a resulting increase in the cost of credit, i.e. interest rates on mortgages, loans, etc..
  • Government profligacy worldwide has created financial bubbles, particularly in real estate.
  • Singapore officials have recognized the threat and imposed restrictions to offset rampant speculation in housing, similar to Dr. Greenspan's 1996 irrational exuberance warning.
  • Despite assurances to the contrary by mainline pundits, the resulting economic fallout could ignite Great Depression like conditions or worse.
  • Listener's are advised to make preparations by stockpiling necessities and precious metals.
  • The guest and host agree, given the anticipated market uncertainty, the best investment strategy is a balanced portfolio comprised of broadly diversified / competing asset classes, including precious metals (the guest recommends an allocation of at least 10%), cash, real estate, equities, bonds energy and commodities.
  • John Embry, Chief Investment Strategist at Sprott Asset Management, returns to the show with his thoughts on the US dollar rally.
  • Policies in Japan are undermining the yen currency, while the crude oil price plunge has devalued the Canadian Loonie, making the US Greenback appear strong.
  • The resulting financial mirage is directing global money flows into US equities - an overvalued sector.
  • US corporate earnings appear overstated from a historical perspective due in part to irregular accounting methods.
  • John Embry does not expect stock prices to collapse until central bank officials resort to more hawkish monetary policies.
  • Gold remains the de facto antithesis of paper money.
  • Once gold reflects its true intrinsic value relative to the quadrillions of paper debt worldwide, the currency scheme will unravel at the seams.
  • Expect a new global currency system to emerge as investors shun the negative yields of debt / bonds in favor of dividend yielding gold / silver shares.
  • Bifurcated economic conditions in the US continues to expand, denoted by the overt divide between the haves and have nots.
  • Favorite gold mining companies include Agnico Eagle (AEM) and Goldcorp (GG), as well as two smaller companies outlined in the show.
  • Please record your questions and comments via our NEW hotline 24/7, you can leave your first name or remain anonymous if you prefer: Q&A Hotline: 1-206-666-5370.

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Chris Waltzek:
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