John Rubino – Gold Price To $5-10K, Energy Outlook Negative, Digging Into The Jobs Data
John Rubino, publisher of his newsletter over at Substack joins us to share his thoughts on the gold price in the near term (price floor being $2,000) and longer term ($5,000-$10,000 gold in 3- 5 years). We also discuss why John is now thinking energy prices will struggle moving forward. To wrap up we look back to the US job data, released on Friday, and why John sees many issues with the data looking past the headline number.
On the gold investment front, and more short term, John sees $2,000 being a floor for price and should drive better earnings and margins for the miners. Combine this with lower energy prices, potentially generalist investors will take notice and could help the gold stocks play catch up to the higher gold price.
For recent economic data we recap the jobs data from Friday. John outlines why he thinks “things are a mess” and to not just focus on the headline numbers.
Intervention and price suppression continues across all markets. No cures for the massive transfer of wealth agenda that has blatantly taken place over many years. The corruption is now at crisis level.
Enforce laws. That is what has been undermined. Very simple. Why look for alternate ways of investing? There is no law that says the people must settle for being Victims when persons in position of trust violate the Criminal Statutes. Rather the Criminal statutes say that you also prosecute those that aid and abet in the criminal process in any fashion. That means the politicians that permit corporate abuse or profit from it or “aid and abet” a criminal act. The voters seem to prefer a “criminal Constitution” as long as it supports some other bias or prejudice some one personally believes. That is what is so dangerous about AI being used to give a level of appropriate argument on blogs that foster unconstitutional thoughts.
Do I take it you have no objection to markets, elections, capitalism, politics, education, manufacturing, public services, etc being corrupted as your taxes are paid and that is the end of it no matter whether any of is consistent with the Constitution designed to protect the people. Rules are only for others and if there is a different “set of rules” than the Law for different classes of people, that’s not an issue nor is it worth it to hold people to the existing law or regulate or prosecute them if they act in their own interest and contrary to the Law. If so, and I am sure you don’t hold that view, but it is the crisis we are facing. It opens the door to much worse systems that no one will be happy with except the very few that profit from them and control the power and enact egregious enforcement policies. The Warning Light is flashing and a large percentage override the irritating flashing and continue to think the other side of the mountain will be the Promise Land and ignore that the Stalag may be an option.
I did say ”and I am sure you don’t hold that view” …
Good response as we share a common frustration on how to “effectively” deal with corruption.
Considering the pervasive consternation around here it’s time to revisit some charts that I posted weeks ago. First, take a look at SILJ and notice that the recent rally only did slightly better than the Feb. – March rally of last year.
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=2&dy=0&id=p67405932304
Now look at SILJ priced in SLV and notice that the recent rally was 2.5 times the size of that Feb. – March rally:
https://stockcharts.com/h-sc/ui?s=SILJ%3ASLV&p=D&yr=1&mn=2&dy=0&id=p20616324172&a=1557122057
This very bullish difference has nothing to with the reasons for my green lights for the metals but is evidence that those green lights will probably be correct.
It is significant enough that the silver stocks are performing so much better than silver but the details of that outperformance make the situation even more bullish. The miners didn’t just outperform the metal on good days for both, they significantly outperformed even on some very bad days for the metal which is much less common and more indicative of a significant trend change (not all trend changes hold the same significance).
EXK finished up 4.4% while SLV finished down .62%
https://stockcharts.com/h-sc/ui?s=EXK&p=D&yr=1&mn=1&dy=0&id=p73913190119&a=614337126
My kind of spec:
EXK:SLV monthly
https://stockcharts.com/h-sc/ui?s=EXK%3ASLV&p=M&yr=16&mn=11&dy=0&id=p55914708588&a=1576526609&r=1704839159272&cmd=print
IMPACT Silver Contracts Bell Internacional to Provide Tesla Battery Energy System with Solar at the Plomosas Mine
https://finance.yahoo.com/news/impact-silver-contracts-bell-internacional-140000263.html
Just like last summer the dollar turned up where it should have but I doubt it will have similar upside this time.
https://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=6&mn=5&dy=0&id=p88740530971&a=1361913253
Unmasking The BS Jobs Report: Michael Pento Exposes It All #5976
Kerry Lutz’s Financial Survival Network – Jan 8, 2024
“In this critical discussion, Kerry Lutz teams up with economic expert Michael Pento to dissect the latest non-farm payroll report, revealing a worrying decline in the labor force and negative revisions that point to a rapidly deteriorating jobs market. They challenge the face value of headline numbers, urging viewers to understand the deeper implications behind the stats.”
“Pento, in particular, criticizes the inefficiency of government hiring and sheds light on the concerning net loss of jobs in the manufacturing and service sectors. The conversation takes a sharp turn to the bond market’s volatility and the Federal Reserve’s ambiguous stance on rate cuts. Pento debunks the overzealous market reactions to the Fed’s announcements, exposing the stark difference between the central bank’s rhetoric and the market’s interpretation. The duo navigates through the intricacies of market behaviors and the influential role of the Fed, providing a nuanced perspective on the economic and financial challenges ahead.”
https://youtu.be/2ODi6EPXCxs