Friday, May 29, 2015

Bill Murphy & Rob Kirby

May 29, 2015

Featured Guests
Bill Murphy & Rob Kirby
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Summary:
  • Rob Kirby of Kirby Analytics says geopolitical tensions are the result of the unsound fiat money system and the resulting economic distress.
  • By kicking the economic can down the interstate highway, our officials are positioning for global warfare, which could erupt as soon as 2015.
  • Our guest is convinced that the People's Bank of China has accumulated at least 2 thousand tons of gold bullion per year.
  • Expect a ban on cash, relegating paper bills / coins to the garbage bin. The shift could facilitate a total surveillance state, where all transactions, no matter how small, leave a digital finger print.
  • When money is debased, creativity and the entrepreneurial / individualistic spirit is crushed.
  • Given the less than sanguine economic prospects facing most investors, the guest insists that portfolio diversification is a necessity, in particular, gold and silver assets.
  • Kirby paraphrases friend of the show, John Embry of Sprott Asset Management, "With precious metals, you can always afford to be two years early, but you can never afford to be ten minutes late."
  • The urgency is underscored by his findings that hyperinflationary events tend to occur in lightening like fashion, appearing from no where amid seemingly trivial events.
  • Bill Murphy from GATA.org and the host discuss a report from Bloomberg News analysts who claim, if the People's Bank of China (PBoC) supports the Yuan with gold, approximately 1,000 tons, the move would send the price of gold soaring to $64,000 per ounce, 50 times the current price.
  • In addition, reports from Venezuela indicate 64% inflation, approaching 5% per month as the Bolivar currency collapses.
  • Venezuelan money growth is approaching exponential levels, eerily similar to the Fed's balance sheet.

Show Host
Chris Waltzek:
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