3 Minute Gold News – Jim Rickards – Fox Business – Oct. 13, 2017

3 Minute Gold News

A Quick Read for Busy People

A synopsis of an interview with Jim Rickards, New York Times bestselling author of The New Case for Gold, The Death of Money, Currency Wars and The Road to Ruin, by Varney & Co. on Fox Business.

Jim is the editor of Strategic Intelligence, Chief Global Strategist for Meraglim Inc., former general counsel for Long Term Capital Management, and a consultant to the U.S. Intelligence community and U.S. Department of Defense.

by: Elaine Diane Taylor

 

Topics:

Stock Market
Tax Repatriation

Jim Rickards

 

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Interview Link

 

STOCK MARKET

The market profits next year aren’t going to be as good as people expect them to be and therefore the stock market is going to go down.

We’re set up for a 10% drop in the stock market.

We’ve had two drops in the last few years: August 2015 and January 2016.

A 10% drop is not the end of the world.

U.S. earnings next year are going to be very disappointing. In 2017 you had double digit year-over-year earning increases but that’s because 2016 was such a lousy year that you’re working off of a weak base. Earnings today aren’t much better than they were the year before.

The economy is slowing down and we have disinflation.

That’s one thing.

The other thing is systemic problems.

There’s a regular business cycle that has a recession and correction, in which we’ll have a 10% drop as the cycle goes down. That’s in the cards.

Then as well as that there’s systemic risk where you have something like the Crash of 2008 or worse.

A Systemic Crash could happen tomorrow or three or four years from now.

A systemic crash has to do with the complex dynamics of the capital markets.

So Jim advises people to lighten up on owning stocks, have some physical gold, the euro and cash.

TAX REPATRIATION

People talking about a wave of off shore earnings coming back to the U.S. and helping the economy is complete nonsense. The money from off shore profits is already in the U.S.

If you’re an Irish subsidiary of Apple you can buy U.S. Treasuries and stocks to your heart’s content and not pay taxes on that. The profits are not in a vault in Ireland in $100 bills, they’re invested in the U.S. markets.

Also, if Apple wanted to build a factory in the U.S. they could finance it for 10 years at 2%. So the decision of where to build a factory has nothing to do with the repatriation of taxes. And with the repatriation the money is already in the U.S. invested on a passive basis.

The change in the tax law is good for corporations and good for the wealthy, but not for the overall economy.

Jim Rickards can be found on Twitter and at James Rickards Project.

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My thoughts…

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Gold is back above $1,300 U.S. and Bitcoin is at $5,715 making a run at $6,000.

So people are uneasy and playing with getting their money out of the traditional game. They all know it’s rigged, and that someone is losing unfairly, but they can’t fix it individually and feel powerless, so they want to at least look after themselves. That shows us that the empire is unwinding.

Bitcoin and cryptocurrencies haven’t seen anything close to a critical mass move in yet. It’s just under $6,000 and most people have no idea what it is exactly or how to get in.

The IMF and individual nations are developing their own digital cash and crypto systems, and once those are in place it’ll be like having a Sheriff in the wild west. Non government sanctioned crypto and digital will most likely be outlawed. No one with power wants to share profits.

It’s the game of Coins and Crowns. When big moves are about to happen the ones who are winning want the masses to have their attention diverted away from real issues. They don’t want anger to lead to revolt. If there’s intense anger they want to manage the storyline and divert the anger to something or someone that doesn’t harm the powerful.

People bonded together as a single power are dangerous to the current power structure. Individuals are waking up to the rigged game, to the unfair use of people as pawns, and the misconduct of those with power. We’ll overlook those in power skimming, but we hate evil that hurts the powerless with no punishment. Look at what’s going on in Hollywood. Many were hurt with illegal conduct and no punishment to those creating the pain. They were made to keep quiet or their career was over. They were threatened into silence either openly or implied with social and economic force. I’ve been there. I know what it’s like to lose everything by trying to get fairness against someone with social power and no ethics. It’s best always to see the danger ahead of time and stay out of the way.

Open access to information and decentralizing power is helping those who were hurt in Hollywood. Many voices have power over one. Isolation and social pressure is the weapon of the one doing evil.

The force of the group who individually have no power but now work together as “one” is stronger than the force of those creating pain and breaking the law.

We want a decent world where decent people have a fair life, with opportunities and a rule of law that is enforced.

Those with the power to break those laws don’t want anything to change. So watch out for bread and circuses coming up.

Nothing wrong with a circus, but not when your house is on fire. Nothing wrong with free bread except when it’s used to buy a vote for something that will harm you without your knowledge or consent.

We’re in a new age. Old power falls apart. New tech brings new power balances.

It’s good to figure out that everyone is not your friend. And that’s okay. Aristotle said that a friend to all is a friend to none.

The best thing I heard when I was in Nova Scotia came from a mechanic fixing his truck outside in a backyard overlooking the ocean.

He said, “I have a good life. I wake up in the morning and I know who I am.”

That’s the finest thing in the world. May we all be so lucky.

It reminds me of the advice Jim Rickards gave me at dinner last July in Vancouver. He suggested I trust myself. I deflected at the time but he was right on the mark.

 

I was fortunate to have David Crosby send me a private message on Twitter about the song Terrible Breeze linked below. He said: “Words are the hardest part and yours are excellent…music is good too …”.

I’m in Victoria, British Columbia this month. I dipped my feet in the Pacific Ocean, then drove across Canada and put my feet in the stormy Atlantic Ocean. Now I’ve hopped a plane and a ferry back to the far west coast of Vancouver Island.

A Twitter follower asked for the recipe for Apple Guinness Chutney I made up yesterday, with wild apples I picked on Cape Breton Island.

Here you are:

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Guinness Apple Chutney

14 small/medium hard tart apples (peeled and chopped)
2 cups of raisins
2 small onions (peeled and chopped)
2 tsp. chili powder
2 tsp. crushed ginger
4 tablespoons mustard seed
1 1/2 cup of white wine vinegar
2 cups of light brown sugar
1 1/2 cans of Guinness (I drank the other half)

Toss all this in a big pot. Turn the heat on high and stir with a wooden spoon until it’s boiling and the sugar dissolves. Then turn it down to a medium low simmer. Stir every once in a while as it cooks up and becomes dark and thick. About 2 1/2 hours. Spoon into sterilized jars and process in a water bath. Super good with meat or in a rice bowl with veggies. Makes 8 jars. Yum.

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Guinness & Wild Apple Chutney

Prepare for winter (put aside some physical gold and silver) but enjoy yourself today too.

Money can all disappear but culture does not.

So make yourself some memories.

Wake up in the morning and know who you are. :)

Elaine Diane Taylor~

October 13, 2017

 

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Cape Breton Island, Cabot Trail, Nova Scotia 2017

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A Terrible Breeze    (North Korea and Nuclear War)

The news comes down
A little bluebird sings
Words of war
Of fire and furious things
Of testing might
‘Til no patience knows
If keeping still
Still keeps you safe at home

It’s a terrible breeze
They speak of today
Of threats that used to live a world away
We all know wind
Can blow both ways
And a terrible breeze can blow it all away

A worldwide net
Sees our village grow
Until we all forget
What each one used to know
How a blind bird’s wings
Can reach the shore
And turn that wheel of peace and war

Village fools sinking down, down, down
Debt and gold wound in numbered shrouds
Deal of a life it’s bread and clowns
Can we afford another go around?
The news comes down.

It’s a terrible breeze. The news comes down.

words and music Elaine Diane Taylor
©2017 Elaine Art & Media SOCAN/ASCAP

 

Single available on iTunes

 

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Not Much of a Holiday (Greek Debt and Media Persuasion)

words and music Elaine Diane Taylor

© 2015 Intelligentsia Media, Inc. All rights reserved.

SOCAN/ASCAP

Single available on iTunes

The Greek bank holiday and long lines to get a few euros for the day. Debt deals behind closed doors. The media telling us what opinions to have. China building islands in the South China Sea and claiming all the international waves. More dealing to come. More standing in line for those who owe. Who owes? There’s a long line of nations in debt and this is far from done.

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AlbumCover.PreparingfortheFall

Preparing for the Fall live boutique album available on iTunes — featuring Wag the Dog, Black Swan Dive,  American Pie and Gods of the Copybook Headings.

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Coins and Crowns

words and music Elaine Diane Taylor

© Intelligentsia Media Inc. All rights reserved.

SOCAN/ASCAP

from the album Coins and Crowns available on iTunes

Single featured in Episode 1 of Mike Maloney’s documentary series Hidden Secrets of Money.

 

The Gods of the Copybook Headings

words by Rudyard Kipling and music by Elaine Diane Taylor

©2014 Intelligentsia Media Inc.

SOCAN/ASCAP

from the album Preparing for the Fall available on iTunes

 

The copybooks of the early 1900s gave us all the wisdom we need. The sayings that were copied are the truths, the gods, of our world. All the empires who followed the gods of the marketplace instead have fallen, and there’s terror and slaughter when the gods of the copybook headings return. The lyrics are by Rudyard Kipling. One of my gurus.

Another Week on Wall Street

words and music Elaine Diane Taylor

© 2013 Intelligentsia Media Inc. All rights reserved.

SOCAN/ASCAP

from the album Coins and Crowns available on iTunes

See the bankers wave their Wall Street wands and conjure piles of paper green. Naked short selling is like betting that your neighbour’s house will burn down. But in this scenario it happens to burn down. If the bankers win then we lose the whole world as we know it. I wrote this in 2009, with a lyric “A little grease (Greece) is floating out to sea, and little pigs (Portugal, Italy, Greece and Spain) are bobbing up and down, they’ll send a storm and we’ll see, when the tide goes out who’s naked on the beach“, and it’s coming on now. The world is changing as we know it.

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Nothing on this site is intended as individual investment advice. We’re all watching which way the wind is blowing.

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