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Business/Finance See other Business/Finance Articles Title: Dr. Chris Martenson: “Mother of All Collapses” Looms Dr. Chris Martenson: “Mother of All Collapses” Looms NEW RADIO RELEASE May 1st, 2015 Comments Print “Nobody Alive Will See the End of the Effects…” DOWNLOAD MP3 Don't want to listen? Read the podcast below! Dr. Chris Martenson Interview Welcome to this week's Market Wrap Podcast, I'm Mike Gleason. Coming up later we have a fabulous interview with Dr. Chris Martenson of The Crash Course and PeakProsperity.com. Chris has a rather scary forecast for the global financial markets. And he shares some very important information about how the average investor can protect himself against what he sees coming. Don't miss my interview with Chris Martenson -- coming up after this week's market update. Well, as trading begins for the month of May, precious metals bulls are watching to see if the gold market can finally break out of its recent trading range. Gold prices teased another upside breakout above the $1,200 level earlier this week but sold off Thursday to finish the month of April at $1,185 an ounce. As of Friday morning, gold is down another $10 and comes in at $1,175, down now 0.4% for the week. The price action in silver is a bit more encouraging. Despite its late week struggles silver still shows a weekly gain of 1.7%, with prices currently coming in at $16.04 an ounce. Platinum and palladium are also showing a little bit of strength, with platinum advancing 0.8% to trade at $1,135 and palladium relatively unchanged to come in at $775 an ounce as of this Friday morning recording. The precious metals are faring relatively well this week compared to other asset classes. Both stocks and bonds sold off after the Federal Open Market Committee's statement on Wednesday. The metals also got hit, but they are being supported by a falling dollar and a rising commodities complex. The U.S. Dollar Index broke down to multi-week lows as weak numbers on GDP and new home sales raise concerns about a sluggish economy. Weak economic data may cause the Fed to postpone its telegraphed rate hikes, but many Fed watchers think a rate hike in June or late summer is still on the table. As Fed watchers dissect policy statements for clues about whether policymakers are turning hawkish or dovish, investors mainly want to know if the outcome is bullish or bearish. Perhaps the Fed will show its true colors during the dog days of summer. Meanwhile, the 800 pound gorilla in the room is the coming debt ceiling battle. And the financial crisis we're headed for when it inevitably gets raised to enable Washington's spending addiction. So far, no credible long-term debt solutions are coming from the leadership of either the donkey party or the elephant party. Some fed up grassroots Republicans accuse their party's big-spenders in Washington of being RINOs. It's a jungle out there, in more ways than one. Thugs and bullies, which in some cases appear to include the police themselves, are rampaging through the streets of Baltimore and other American cities like wild animals. It's enough to turn hopeful people pessimistic toward human nature. But economists have long been pessimistic. There's a reason why economics is called the dismal science. The hugely influential economist John Maynard Keynes observed that human economic choices aren't driven purely by rational calculation. Humans are instead moved by what he called the “animal spirits.” We spontaneously join in on cycles of optimism and pessimism, creating economic booms and busts. It was Keynes who famously observed that “the market can stay irrational longer than you can stay solvent.” There is much truth in his observations. But his policy prescriptions haven't exactly worked out. They have been seized upon by politicians and central bankers to expand their powers and promulgate economic mischief. Keynes believed that fiscal and monetary policy could be employed to tame the animal spirits and prevent economic panics. He called for policymakers to tighten credit markets and rein in government spending during booms. During downturns, Keynes prescribed loose money and increased government spending as key stimulus measures. In the name of Keynesian economics, politicians and central bankers have pursued stimulus in ways Keynes himself couldn't have conceived – from Cash for Clunkers to Quantitative Easing to trillion dollar deficits. These so-called Keynesians have completely neglected the part about putting on the breaks to prevent asset bubbles. In reality, their policies have produced more excesses than the free-market left to its own devices ever could. It turns out that central planners are guided by animal spirits as well. And that's why Keynesianism is doomed to fail. The U.S. dollar may be doomed to fail as well. Investors would be wise to seek protection from a mismanaged currency. And the surest way to do that is by owning hard assets. The animal spirits may one day produce a buying mania in precious metals that makes them hard to obtain in physical form. For now, though, there is ample availability of most bullion products at premiums that are on the low end. Here at Money Metals Exchange, we have products that reflect just about every type of animal spirit. We carry the popular American gold and silver Eagles, of course. We also offer gold American Buffalo coins, privately minted silver Buffalo rounds, and silver Red-Tailed Hawks from the Royal Canadian Mint. The Land Down Under is rich in wildlife, and our Perth Mint products include Australian gold Kangaroos, platinum Platypus coins, silver kilo-sized Koalas, and one of our newest products, the 1-oz silver Australian Funnel Web Spider coins. You can view images of these and other bullion products on our award winning website, MoneyMetals.com. And as always, our Specialists are available to answer any questions you may have about our products at 1-800-800-1865. Well now, without further delay, let's get right to this week's exclusive interview. Poster Comment: Audio and full interview at source. Post Comment Private Reply Ignore Thread
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