Chris Martenson-$40 Trillion Lost in Next Crash
Chris will be joining us later this week on the weekend show. Please stay tuned to hear what he has to say on the markets, precious metals and energy.
I thought that video was pretty good actually.
Dave –
Huh!?? Are serious…man you need some serious financial psychotherapy…I really dont know if I should have wasted my energy..responding to your comment…yikes!!
Listened to this last nite – Dr. Chris is one “on-top-of it” dude……boy, what if he was the President and people listened to him…..sure and ‘pigs can fly”….!!
NICE ! Leverage and capital structure derivatives and (((( MUCH MORE DEBT )))) ! The KILL YOURSELVES econemy will start 88888888 AGENDA 21 !
THE US ARMY IS THE ARMY OF THE POPE YOU WILL Solaris KILL the world and dan KILL YOURSELVES !!!!!!!! NICE USA USA USA !!!!!!! https://www.youtube.com/watch?v=2dbR2JZmlWo
Chris Martenson is best understood by watching all 26 episodes of his crash course.
He understands the economic situation of the US and how we got here.
If I had a criticism of his thought process, it would be that he is politically passive and neutral.
I believe the problem is not only the banking system, but a totally corrupt power-hungry government that simply demands TOO MUCH.
Yes society needs a safety net. But not one that becomes a disincentive.
Yes. society need rules and regulations. But not so much that growth is killed.
Yes, society needs government. But not one that controls every aspect of life.
Yes a government needs to tax. But not a taxation system that is destructive of enterprise; destructive of growth.
Government has grown through the pandering of politicians to buy votes,
I don’t believe Chris Martenson fully understands how much by which government needs to be trimmed in order to reach a stable growing society.
CFS ! YOU REMEMBER the Sucking ! https://www.youtube.com/watch?v=EAHM9rXjdUo
good one Xing……………….that was a was one of those old xucking sounds
T.P.P.
sucks too
Brought to you by the Devil Incarnate.
(But maybe not approved in the long run?)
All congress better read it before they run for re-election…………THIS TIME IS DIFFERENT. NWO is now recognized for what it is.
Franky:
Is that you?
June 6,2012
Will you guys ever understand that currency induced cost push inflation is a currency event and both what you think deflation is business wise occurs along with hyper inflation?
I have explained this at least 1000 times since 2001.
Jim Sinclair
This is the period of time in which gold and silver realise wealth preservation.
And you ever understand People stop BUY SELL dollar ? And start Buy sell littel Gold and silver coins ? fore real thinks slowly !
good one Matt………………………
A banking bail-in may be legal, but it is immoral.
I cut up my citibank credit cards in protest last year.
immoral…….agree 100%
OFF TOPIC: all means until he is in custody,” he said.
(CNN)Memphis police identified 29-year-old Tremaine Wilbourn as the suspect in a weekend shooting of an officer.
Wilbourn is at large and considered armed and dangerous, Memphis Police Director Toney Armstrong told reporters late Sunday.
“You can be assured that we will continue to pursue this suspect, and we will exhaust
Officer Sean Bolton, 33, was shot multiple times Saturday night. He was taken to a hospital in critical condition but later pronounced dead.
The Policeman was white.
The suspect murderer was black.
The Racist president is silent.
OFF TOPIC:
I can’t believe the devil in the white house has unilaterally increased the percentage of ethanol in gasoline in the future.
This is STUPID.
IMPEACH the bastard! Soon.
Well gold has now hit 1080 or lower at least six times in the last 15 days. Support is being tested repeatedly with resistance being established at 1100 dollars so we have gone a half month (more or less) inside a 20 dollar trading range.
What has me more interested though is platinum which may be setting up for a relief bounce. When I looked at the long term (monthly) chart today though I noticed something I had not seen before.
There was a gap in late 2003 that has never been closed.
To close that we will need to see platinum trade significantly lower with the next major support coming in around 600 dollars once the gap is closed. That’s a big drop from this mornings 946 dollar level but is hardly out of the question and my suspicion is that’s where platinum finally finds its bottom.
As a betting man I would give high odds that’s exactly where we are going before the bottom is found and that is bad news for the rest of the precious metals sector and very bad news for anyone holding Canadian dollars.
But what is it really telling us about the auto industry and their sales forecasts when demand is pushing prices this far South for a metal that many consider to be in near shortage at times?
And not to be an alarmist but for platinum to hit 600 dollars again is a 36% drop from here. If gold even roughly followed that trajectory it would not hit bottom until around the 700 dollar mark. Scary stuff….but charts don’t lie…..
I guess it all depends on whether you believe gaps get filled or not.
Platinum Monthly chart — Finviz.com…….. note the gap. Then note next support below that.
http://finviz.com/futures_charts.ashx?t=PL&p=m1
Incidentally that would also see silver trading below 10 dollars.
OK….so why does this matter and is it even possible that gold would roughly mirror platinum’s declines? Absolutely. Readers who follow the metals will no doubt already be aware that platinum peaked at almost the exact price level of gold in 2011 which was just North of 1900 dollars an ounce.It has since fallen harder than gold since the but I believe that is partly because there is still significant resistance amongst the gold crowd that has held prices aloft. They have been in rough parallel to each others price moves for quite some time though. So if you see that platinum chart above as bearish as I do then you will probably also conclude the outlook for gold is grim in the coming year. 2016 will not be kind to precious metals.
So,you are blaming the gold crowd for $1080.00 gold.
I am blaming guys like you that bad mouth it,short it and continuously shake the tree and no,I do not conclude from your platinum deductions that the outlook for gold is grim.
ditto………short term thinking……long term mistake……………jmho
glad to see birdy flew away……………. 🙂
I would not use the word blame, Matt. But gold bugs are fairly stubborn and they have really done a good job keeping gold hyped which is evidenced by the fact it has fallen less hard than most other commodities this year.
Every other day it seems there is a new reason to have hope a rebound is coming. At least once a month there are calls for the final bottom or one last dip before the great upthrust begins anew.
But gold is in secular decline and that is chartable by inference if we examine other commodities for a comparison. I have made a number of good references in the past week to make the case that gold no longer deserves the status it is being afforded by the cult.
When we are already seeing resources and mining ETF’s make 100% retracements from the 2001 lows and the CRB Index itself now warns it too will entirely retrace its gains of the past 15 years then yes, we have very good evidence that gold is going to suffer a further substantial decline.
The platinum chart proves it in my view. Silver is coming in as a supporting character and even the Canadian dollar (which has now broken down) lends credence to what I am saying.
Lets not take any of it personally. This is not a contest. All I would ask of anyone who comes to this site to read the comments is to examine the charts themselves OBJECTIVELY and to put aside personal bias and beliefs.
So I am very sorry to be the one to deliver the bad news. But gold has quite a decline ahead of it still.
Gold is in a CYCLICAL decline within a secular uptrend. Objectively.
Have a look at the copper chart, Matthew. There is nothing but dead air space all the way back to 2004 numbers and from there its peanuts before copper retests the 1996 and 1997 peaks.
So maybe its not amusing to you that gold and silver still function as commodities (not currencies and NOT money) and that most commodities fall together but that is the facts. They do
Your assertions that gold is in a secular bull are falling on deaf ears in my camp. The is a full fledged bear market as evidenced by so many other resources. I just cannot see how or why Gold will somehow turn out to be special and avoid the carnage the rest of the sector is seeing.
Sorry to say it….but the bull has been gored. Best you can hope for is a healthy bounce from time to time. But the trend is undeniably down ans that will not end until most of the gains from 2001 have been lost.
Monthly Copper Chart — Finviz.com
http://finviz.com/futures_charts.ashx?t=HG&p=m1
Funny, the guy that didn’t know that gaps always get filled is telling me to look at a chart.
Anyway… opinions aside, the secular bull hangs on.
As for gold and silver “functioning as commodities,” what does that even mean? If it means what I think you want it to mean, then you are wrong.
Since its 2006 peak, copper is still down 65% when priced in gold. Since its 2011 high, it is still down 36%.
The Goldman Sachs Commodity Index priced in gold is down 69% since its 2005 high after being down 73% in January of this year. It is down 36% since May, 2014.
Oil priced in gold is down 74% since its 2008 high (was down 79% in January). It is down 50% since May, 2014.
Did you know that after a 75% decline quadrupling is required just to get back to even?
No matter how you slice it or try to deny it, gold has certainly NOT behaved like a commodity. It has tripled to quadrupled against many commodities since each peaked. No other major asset is as negatively correlated to the economy as gold is. This is because cash is king during an economic contraction and gold is the king of cash. Still don’t believe it? Then why is gold still up more than 300% (4x) versus the dollar since real GDP peaked 15 years ago?
Funny…the guy who dis not even know what a reserve currency was trying to educate others on what money means. But no matter, its your life.
Notice btw how many times you used the word “down” in your post?
Yes……down. It does not matter how you slice it and dice it metals are in a big bad bear market. Down is the defining word. And it hardly matters that you try to say gold in another chart is performing well because that is ….well….over the heads of virtually all investors never mind the general public.
and you cannot trade on that news anyway. You are wasting words my friend.
Gold has entered a secular bear…..and I am so close to proving that in spades you won’t be around long to argue it with me anymore because everyone else can see this price collapse for exactly what it has become.
The bear from hell. Soon to be the longest bear market in modern history.
Soon to be the longest GOLD bear market in modern history.
Just to clarify. 🙂
What the hell are you talking about Birdman? I’ve had a handle on what a reserve currency is for far longer than I knew about your existence. You, on the other hand, are one of the many who didn’t know that there are many reserve currencies and that the dollar is just senior among them.
Yes, I used “down” a lot in my post because everything that you so foolishly lumped together with gold PLUNGED VERSUS GOLD.
“Soon to be the longest bear market in modern history.” SOON? LOL! Yeah, just 16 more years since you think it’s in a secular bear.
Sorry, but such dopiness is a great disservice to yourself if no one else.
I guess it all depends on how you measure gold bear markets. So don’t bother arguing with me. There was a chart doing the rounds not long ago on exactly this subject. Al might have posted it on this site however I cannot locate it but here is a similar version comparing gold bear markets and duration.
At the time the chart was posted the current bear market in gold was the second longest of duration compared to historical bears. Hopefully this links properly.
https://images.search.yahoo.com/images/view;_ylt=AwrB8qDZnMFViSYAdFIunIlQ;_ylu=X3oDMTIzcWtwNTg0BHNlYwNzcgRzbGsDaW1nBG9pZAM1ZjMzNmJkMzQ3MGJlODkyNjczNDAyMTIyNjgyYTg3NgRncG9zAzE2BGl0A2Jpbmc-?.origin=&back=https%3A%2F%2Fimages.search.yahoo.com%2Fyhs%2Fsearch%3Fp%3DGold%2BBear%2BMarkets%2BChart%2BComparison%26fr%3Dyhs-mozilla-002%26hsimp%3Dyhs-002%26hspart%3Dmozilla%26tab%3Dorganic%26ri%3D16&w=600&h=431&imgurl=www.zenconomics.com%2Fwp-content%2Fuploads%2F2015%2F01%2FGoldBearMarketatHistoricDuration.png&rurl=http%3A%2F%2Fwww.quoteinsta.com%2Fbull-bear-market-chart%2Fbespokeinvest*typepad*com%257Cbespoke%257Cimages%257C2007%257C11%257C07%257Cdollarbullbear*png%2Farprice*com%257Cpicsawbz%257CUSD-Index-Historical-Chart*html%2F&size=160.9KB&name=%3Cb%3ECharts%3C%2Fb%3E+Of+%3Cb%3EBear%3C%2Fb%3E+%3Cb%3EMarkets%3C%2Fb%3E&p=Gold+Bear+Markets+Chart+Comparison&oid=5f336bd3470be892673402122682a876&fr2=&fr=yhs-mozilla-002&tt=%3Cb%3ECharts%3C%2Fb%3E+Of+%3Cb%3EBear%3C%2Fb%3E+%3Cb%3EMarkets%3C%2Fb%3E&b=0&ni=21&no=16&ts=&tab=organic&sigr=15tntmf52&sigb=14hta4g9i&sigi=12jde2bsi&sigt=11brg9n0a&sign=11brg9n0a&.crumb=P78uNIfh1aF&fr=yhs-mozilla-002&hsimp=yhs-002&hspart=mozilla
Well that did not link right. Not to worry….I found the source of the chart anyway. Take a look at this from Hard Assets Alliance and you will know what my reference was too.
http://www.hardassetsalliance.com/blog/bear-market-extremes-bull-market-wealth#.VcGfr31lBLM
Yes! The current bear market is the second longest CYCLICAL bear just like I said. The last secular bear last about 20 years.
To be clear (again), gold is in a terrible cyclical bear that but not a secular bear (so far).
wake up call…………new problems for all to see.
Prime real estate on the horizon for anyone with a long term out look.
Opportunity at the beach front is coming. Third world prices just a short hop away.
Over 90% of gaps get filled. That is a fact dating back to the beginning of the market.
The problem is that they sometimes stay open for years.
Thanks Tom. I was not aware of that statistic.
Stewart Thomson understands the significance of a chart I recently posted:
“Given the greater risk profiles of silver and GDXJ, (versus gold and GDX) it’s very positive to see them trading roughly sideways, while gold and most senior gold stocks tumble lower.”
http://stockcharts.com/h-sc/ui?s=GDXJ:GDX&p=D&yr=0&mn=11&dy=0&id=p20695279079&a=414643240&listNum=1
“From the May highs, silver has drifted lower; whilst gold fell somewhat violently.
This difference in price action is typical when system risk fades, and inflation begins to dominate precious metals price discovery.”
http://www.321gold.com/editorials/thomson_s/thomson_s_080415.html
great info……….you have associated the topic articles with the discussion which seems to be your forte…..appreciate as always. ……………….ootb
Associated…..maybe that will be the word of the day, Goldfish.
got ya turtleman……………
Great info. Two thumbs up.
Chris, give it up. You know not with which you speak.