Save our Swiss Gold – What’s Next For Gold

A No vote on Save Our Swiss Gold means the Swiss National Bank can be as reckless as it wishes when it comes to printing Francs out of thin air to debase its currency, especially when the European Central Bank kicks off its own quantitative easing program.

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2014 American Silver Eagles Still Available

Podcast Summary

0:00 – 2:00 Introduction

Black Friday Retail Sales Miss

2:00- 11:05; Black Friday retail sales were down 11% from last year. An economy based on retail sales is already a loser and retail sales on Black Friday couldn’t manage an increase.

The media positive spin on the poor Black Friday results is discussed – “sales were down because consumers are doing so well they don’t need Black Friday bargains”; “don’t read too much into it”!

Sales are down because consumers are in worse shape than the media reports. The U.S. economy is in not much better shape than its European counterparts and will soon have to resort to another round of quantitative easing (QE).

The dollar is rising too fast now and is having a deflationary impact the economy that the Fed will eventually “realize” and use as an excuse for doing more QE.

Consumers have higher insurance costs, higher rent payments higher car payments, student loans and lower wages.

Real Estate Market/Media Economic Propaganda

11:00-16:25 if consumers can’t afford to shop, they can’t afford to buy homes, especially if they have to pay higher insurance premiums, higher rent and car payments. Comparison of current media spin on the economy to the old Soviet Union TASS news service.

Almost all the job growth is in the 55 year and older age group and part time employment yet those facts that are in the Bureau of Labor Statistics numbers are never reported

The Stock Market’s Detachment From Economic Performance

16:25-21;40 The stock market continues to rise even though the economy is stagnant. Today’s stock market compared to the Internet bubble of the late 1990’s/early 2000’s. Then there was some “rational” exuberance over a new technology. Today there is no such underpinning. Discussion of central bank’s money printing programs. Since the Fed has stopped printing trillions of dollars after six years, it seems like the prudent central bank and as a result the dollar is rewarded. Yet the Fed is STILL buying treasuries by rolling over existing bonds they own and reinvesting interest.

The “Affordable Health Care Act”

21:40-28:15 discussion of the impact of Obamacare on the economy. Most complaints to date have been about the web site and the price of insurance premiums. To come: complaints about the quality of health care services. Grubergate is discussed. Gruber’s expertise on healthcare is that he probably was sick once and went to the doctor. The costs of insurance premiums and health care costs that are not deductible are analyzed in the context of an average budget.

Inflation is Good Deflation is Good?

28:15 The inflation is good deflation is bad central bank argument is analyzed and turned on its head. Lower gas prices equal deflation yet it is argued that even though deflation is bad, lower gas prices are good. Companies don’t raise prices to drive greater sales. The policy makers focus on the consumers rather than the producers.

Media Cycles as Distractions

32:50-35:50 Main stream media news and story selection are discussed and the alternative media’s reaction to the main stream media’s narrative. The main stream media still controls the narrative.

QE4?

35:50 – 38:30 discussion of when the Fed might start talking about and implement a new quantitative easing program. With the European Central Bank about to embark on its own QE program (with Switzerland in tow) and Japan already past the point of no return on monetizing the Bank of Japan’s debt, the Fed will have “no choice” but to reinstitute QE in mid 2015, lest the dreaded deflation kicks in from an “unexpected” strong dollar.

Why a No Vote on Save Our Swiss Gold is Good for Gold

38:30- 42:35 discussion of the Save our Swiss Gold no vote and its implications for gold. The concept of petitioning a central bank to buy gold is discussed. If you want to buy gold, buy it yourself, don’t ask your central bank to do it for you as they will buy it and then use it to lease out and manipulate the price!

Citibank: Gold is a “fiat” Currency in a 6,000 Year Bubble

42:35-46:20 discussion of the Citibank research report on gold calling gold a 6000 year old bubble. Gold is not a fiat currency as there is no law or decree giving it value. The human race is a bubble! The bubble is in central bank printing of debt.

The Purpose of The Federal Reserve

46:09-51:15 the purpose of the Federal Reserve is discussed – to help its shareholders, the too big to fail banks, NOT to help the American people. QE is an ongoing bailout of the too big to fail banks.

51:15 discussion of the 2016 Presidential election and the prospect for meaningful change to occur at a national level. Most U.S. citizens believe in Federal and national policy vs local and state policy. This goes against the constitutional form of government.