You’re invited to join the Thursday, March 30th, 9:00PM Eastern “Town Hall Call” with Vista Gold(NYSE MKT: VGZ.) Vista Gold has preserved cash and capital structure while technically advancing their flagship property. Today they have US$23.9M in cash and 97.8M shares outstanding with no debt. Vista owns the world-class (5.9M proven & probable gold reserves) Mt. Todd Gold Project in Northern Territory, Australia. There’s lots more to this well capitalized junior with extremely capable management and great prospects. You’ll be able to ask questions at the end during the Q & A Session.
Bob Hoye returns… Credit cycles are shifting and yields are going up. The so-called recovery has just about run its course. Credit is going to become harder to get, so get it while you can. This means that defaults are going to start becoming a more regular phenomena at all levels of society, private, corporate and governmental. The dollar will continue to do well as will precious metals and the mining sector. Not exactly what Wall Street is espousing.
Former congressman John LeBoutillier is back on the show… Trump’s been in office a little more than two months. He’s done a number of things right, such as his cabinet appointments, executive orders and regulatory roll-backs. However, his White House Staff is strictly minor league. They don’t know how to get things done and it shows. Will he rebound from his early errors? The jury is still out, but perhaps now is the time for a little humility and a staff reorganization.
Wall Street first and foremost sells dreams. The Trump dream has begun to fade. John Manfreda believes that the jubilation that greeted Trump’s election by the business community is starting to be confronted by reality. His agenda was fully priced into the market. Now with the defeat of the Obamacare Repeal the market is doing a double take. What will happen with tax reform and infrastructure? His entire agenda is now in question.
Unlike Obama, Trump is promising true transformation. Obama promised more and faster socialism, Trump is looking for a complete redefinition of the relationship between the government and society. Johnny Rotten seems to agree. He believes that the media isn’t giving Trump a fair chance.
Be sure to check out the rescheduled Vista Gold conference call on Thursday, March 30, 2017 at 9pm eastern time. Vista is unique a junior miner with no debt, $23.9 million in cash and a world class project in The Northern Territory in Australia. It’s listed on the Big Board NYSE MKT VGZ.
Danielle Park asks if the old Wall Street maxim, ‘Three Steps and a Stumble’ still applies… She believes that the more things change the more they stay the same. The stock market has so far overshot all traditional measures of value that a bear market has become virtually inevitable. It all comes down to when. Danielle has been in the business a long time and has seen manic cycles come and go and they all wind up the same way. There’s no reason why this one should end differently. This time will not be different.
Our friend from across the Pond, Alasdair MacLeod of GoldMoney.com sat down with us today. There’s so many problems besetting the world, it’s hard to know where to start. Mass surveillance has us thinking that Orwell’s 1984 was actually a Utopian Tome. Gold and silver look set to strengthen for the rest of the year as the dollar is set to weaken. The Trumphoric rise could well be coming to an end. Hard to tell right now. Where do we go from here? Until monetary systems are reformed, it’s very likely to be more of the same.
Ralph DiBugnara, expert in real estate finance, believes that it took long enough to happen, but Millennials are finally entering the home buying market. And on this first day of Spring that is welcomed news. “Today begins the hottest home buying period of the year and we may have finally turned the corner when it comes to the next big wave of home buyers,” says VP of Residential Home Funding in Pasipanny, NJ Ralph DiBugnara.
Precious Metals expert David Morgan comments on something that’s really in front of a lot of people… Bitcoin. A single Bitcoin transaction takes an extreme amount of energy to complete, enough electricity to power 1.7 American households for a day. Is it true, looks like it. Billionaires are cornering the gold market. Soros, et al. Soros believes that China’s economy is ready for a crash. Are banks about to derail the new US Shale Boom? Banks are getting ready to review the credit lines of major shale producers. Much of it is off balance sheet financing. Canadian Solar is not doing well. Things across the board are contracting. The new sub-prime is starting to melt down. Student loans, collateral free loans with no means of collecting. High default rates over 11 percent. A record number of fund managers are saying that the stock market is overvalued. David believes that the market has been in a distribution pattern for quite a while. And David Stockman has brought to everyone’s attention that we’ve hit the debt limit, yet once again. Silver jewelry was strong in 2016. Demand was stronger than any other jewelry type during the 2016 Christmas Season.
John Rubino notes that the death of the middle class is really happening now, literally. White middle aged males are dying at an alarmingly high rate. Totally messing with the mortality tables. As Hemingway said when asked how he went bankrupt in The Sun Also Rises, “Two ways, gradually and then suddenly.” It’s one thing to never have anything, but it’s another altogether to have and then to lose it all. That’s what the middle class has been experiencing and why they elected Donald Trump. But the market and perhaps the middle class is in for a rude awakening. Perhaps no one can solve these insoluble problems, not even The Donald!
Craig Cody is a Certified Tax Coach, Certified Public Accountant, Business Owner and Former New York City Police Officer with 17 years experience on the Force. In addition to being a Certified Public Accountant for the past 15 years, he is also a Certified Tax Coach. As a Certified Tax Coach, Craig belongs to a select group of tax practitioners throughout the coun- try who undergo extensive training and continued education on various tax planning techniques and strategies to become, as well as remain, certified. With this organization, Craig has co-authored an Amazon best seller book, Secrets of a Tax-Free Life. http://www.craigcodyandcompany.com/FSN/
Perhaps you remember Barrack Obama’s pledge, upon entering office, to fundamentally transform America. But the essence of his pledge was to simply to accelerate the country’s move towards sweeping socialism. Historians will debate the degree of his success for many years to come.
Donald Trump, by comparison, while never specifically stating fundamental transformation as a goal, has nevertheless pledged a fundamental transformation far greater than Obama’s. His promise to roll back the regulatory/administrative state is nothing less than a complete redefinition of the role of government and its relationship to society. If he succeeds, the relationship of the state to the individual will be completely transformed. Rewriting the tax code will be icing on the cake.
In this solo episode, Jason reviews articles which depict the current economic state of affairs from coast to coast. In San Francisco, one company is paying employees to move, developers are driving up the cost of homeownership in New York City and the most average city in the US is exactly where you would expect it to be. Jason also reminds us why we shouldn’t be alarmed by rising interest rates because, as he points out, you have to look at the big picture. Money is and will be flowing into the real estate market during the Trump Administration. Don’t let your money be lazy! Contact an investment counselor today. If you are a new investor or thinking about investing in income property, visit Jasonhartman.com and watch the video, How to Analyze a Real Estate Deal. It’s free educational material.
These Wheelbarrow Buddhas take pride in providing value to their tenants at an affordable rate, which they term as modern affordability. They buy properties from Mom & Pop operations and reposition them, providing value to the tenants.
We discuss the process of DUE DILIGENCE and why it’s the most important factor that will save you time, money, and headaches in the long run!
To kick things off, Jason shares a Wallethub article which lists cities with the highest and lowest credit scores. Memphis credit scores are some of the lowest in the US which is why it is a good place to invest in income properties. And, Jason’s guest today is the first banker in history to expose the monumental story of Swiss bank secrecy. When Bradley Birkenfeld became aware of the shady practices of Swiss accounts he went directly to the Department of Justice. What happened after led him to expose the secret connection between the US and Swiss Governments and how taxpayers in both countries foot the bill for the illegal activities of bankers.
Analyst and entrepreneur Karl Denninger predicted years ago that Obamacare would “kill the economy” and “eventually implode.” Today, the first quarter GDP came in at just .9%, and Denninger contends Obamacare is part of the reason the economy is so anemic. Denninger says, “Since the crash in 2008, we’ve had 2% GDP expansion roughly on an average basis, and you are trying to expand the growth of one program in the government by 8.5%, and that’s not going to work. This is the problem you have. What Obamacare has done has caused the 2% expansion. . . . So, what has happened here is we have taken this program and crammed these costs into the economy on a mandated basis, and the result is the productivity expansion has gone into the toilet.”
Another big problem with Obamacare is the pre-existing conditions. Denninger says, “When you say an insurance company has to cover pre-existing conditions, what you are saying is if this condition costs $10,000, we are going to make it cost $12,000 because the insurance company has to make money. The cheapest way to pay for a condition that costs $10,000 is to write a check for $10,000. That’s just basic math, and yet nobody wants to deal with this. So, the high risk pools were in the process of collapsing, and as a result, you had Obamacare come into essentially force everybody into the risk pools.
LOS ANGELES — California prosecutors on Tuesday charged two anti-abortion activists who made undercover videos of themselves trying to buy fetal tissue from Planned Parenthood with 15 felonies, saying they invaded the privacy of medical providers by filming without consent.
State Attorney General Xavier Becerra, a former Democratic member of Congress, announced the charges against David Daleiden of Davis, California, and Sandra Merritt of San Jose. The two operate the Irvine-based Center for Medical Progress.
The allegations say the pair filmed 14 people without permission between October 2013 and July 2015 in Los Angeles, San Francisco and El Dorado counties. One felony count was filed for each person.
The mules of Wall Street were back at it again yesterday, buying the dips after the overnight whoosh in the futures market.
Apparently, it will take an actual 2×4 between the eyes to break a habit that has been working for 96 months now since the March 2009 post-crisis bottom.
I think it is plain as day, however, that we are in a new ball game that the “stimulus” blinded mules don’t see coming at all. They have been juiced for eight years running by the Keynesian apparatchiks at the Fed who have run the printing presses full-tilt or rescued the market with a new round of QE or an extension of ZIRP whenever the indices began to wobble.
Snowballs have a short life expectancy in Death Valley.
Fiat currencies, backed by credit and debt, survive longer than snowballs in Death Valley, but history shows all fiat currencies are inflated into worthlessness and eventually die.
“U.S. dollars have value only to the extent that they are strictly limited in supply.” Ben Bernanke on November 21, 2002. But we know the supply of dollars has grown rapidly since 1971, and especially after the 2008 crisis while Bernanke was Chairman of the Fed.
The U.S. government is officially $20 trillion in debt. Unfunded liabilities are far larger.
by Kartikay Mehrotra, Laura J Keller, and Edvard Pettersson Bloomberg.com
Wells Fargo & Co. reached a $110 million settlement with customers nationwide over claims its employees set up fraudulent accounts to boost their own pay, a deal that moves the bank another step toward closing the books on last year’s scandal.
Revelations that Wells Fargo employees may have opened more than 2 million deposit and credit-card accounts without customers’ permission has prompted sweeping changes at the San Francisco-based lender. The bank eliminated a system of sales targets that regulators said encouraged workers to create fake accounts. It also fired or demoted five people who had served as senior managers in the consumer business.
Those benefiting from these destructive “solutions” may think the system can go on forever, but it cannot go on when every “solution” becomes a self-reinforcing problem that amplifies all the other systemic problems.
We are living in an interesting but by no means unique dynamic in which the solutions to problems such as slow growth and inequality have become the problems. This is a dynamic I have often discussed in various contexts. In essence, a solution that was optimized for an earlier era and situation is repeatedly applied to the present–but the present is unlike the past, and the old solution is no longer optimized to current conditions.
The old solution isn’t just a less-than-optimal solution; it actively makes the problem worse.
As a result, the old solution becomes a new problem that only exacerbates the current difficulties.
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