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The Solari Report 2015-07-16
Listen to the Money & Markets MP3 audio file
“An excellent man, like precious metal, is in every way invariable; a villain, like the beams of a balance, is always varying, upwards and downwards.”
~ John Locke
This week on the Solari Report I will talk with Jordan Eliseo, chief economist of ABC Bullion, leading Australian precious metals and bullion specialist.
Jordon’s breadth of experience in securities, commodities and financial planning gives him a unique perspective on the role of gold and silver in an integrated portfolio strategy.
Jordan has worked in the financial industry in both Sydney and London, and ran a successful investment fund He is the author of Dire Straits: Money for Nothing–Debt for Free. Jordan holds a BA in Banking and International Finance from Flinders University and a Graduate Diploma in Applied Finance and Investment from FINSIA. He also holds the Diploma in Financial Planning (Financial Services) with specialist SMSF accreditation.
Jordan will update us on the Australian economy in addition to recent events in the precious metals market and Asia’s growing role in the gold and silver markets. For subscribers interested in holding precious metals “Down Under,” we will cover the options offered by ABC Bullion to citizens from North America, Europe and New Zealand. You will find Jordan’s slides and charts in the subscriber section when we post the interview.
For Let’s Go to the Movies, I will review the James Bond film Quantum of Solace. Commodities prices may be down, but geopolitical competition to control natural resources is on the rise. Quantum of Solace offers an important insight on some of the more fashionable tactics used to exercise control.
https://youtube.com/watch?v=59fvri1rfAA
Given recent developments, we will have plenty to talk about in Money & Markets. Talk to you Thursday!
Dear Catherine,
I have an IRA Account Precious Metals Account with GoldMoney in Hong Kong; what company/companies would recommend that would offer the safe storage for the precious metals.
I do not want to convert the PM to cash and lose in the conversion.
Sincerely,
Paul
Paul:
Depends on your IRA servicer. Ask the company that services your IRA account whether they do business with any other companies that have depository arrangements in Hong Kong. If they do, send me the list of names.
Catherine
Dear Cahtrine,
I’m greatly grateful for all your work, god bless you of course.
I hope your inspirations is seen wide and far.
I am trying to understand more deeply the view that collapse due to debt is not immanent, for example:
(This is talking about Puerto-Rico
http://davidstockmanscontracorner.com/the-black-swan-circling-puerto-rico-its-bond-insurers-are-stuffed-with-toxic-derivatives/ )
“with the extreme degree of Central Bank intervention, which has enabled literal financial zombies to continue living and has enveloped the entire financial system with opacity, it’s impossible to model in expectations on, and potential sources of, counterparty default risk. It’s like lightening. It can unexpectedly strike anywhere – just ask Hank Paulson and Goldman Sachs…
This is exactly what occurred in 2008. Only this time around the problem is significantly greater than it was in 2008. Global debt and gross derivatives outstanding are much bigger than in 2008. And, except for the Plan B hyperinflation of the money supply, Central Banks are out of bullets.”
Should I assume that for these reasons if not others Puerto-Rico will be bailed out?
What is the sound counter perspective? I would love to have you expand somewhat on this.
It’s very hard to find sound alternative voices that aren’t predicting a Black Swan crash or crash-ish.
Thank you.
Also I just want to throw out there that it would be very useful and effective for me and many others to read or hear countering point to point the arguments of the crash-doom people.
I think this perspective is causing people who would maybe otherwise be taking action to make the world a better place, sit around and wait for it to fall apart.
Peace in space forever,
thank you,
Sarah
Sarah: Thanks for wanting to take action. This gets very personal for some of us. I have family in P.R.
Catherine:
What would you advise the governor of PR ? How would that be different than advising say the governor of NC? Some of us do want to take action. But, we need your wisdom and expertise. Could you dedicate a part of this website to both band aids and solutions? What do you think of public banking? I am trying to get a bill drafted in NC that would require banks to produce title to a property (in court) before foreclosure. I know they won’t be able to due to CDO’s and judges won’t foreclose without proof of title if the issue is raised. Thoughts? Blessings! Roxane
Roxane:
To advise a governor on what to do, I would first need to spend 100’s of hours researching the state’s current financial position and economy. This is like surgery – you should not suggest how to do proceed without intelligent preparation.
I have spent 20 years publishing my thoughts on problems and solutions – and making most of it accessible for free at my expense. So I thought I was doing that. While I can see the benefits of reorganizing all the material for practical access for a municipal leader who does not want to be bothered to review what has been produced, doing so would require a significant additional investment of time and resources. Great idea, but not a financially sustainable business for Solari.
A bill requiring a bank to produce title is an EXCELLENT idea. Good for you.
A state bank which provides wholesale support to local banks is a good idea. State banks that offer retail services that compete with local banks is a dreadful idea.
Hope that helps,
Catherine
Roxanne:
Also – what I described about PR on the last Money & Markets that I thought what was going to happen related to the overall “grand strategy” for the Carribean and I have it on my list to research that.
Catherine
Thank your for all your replies. You are a blessing.
Sarah:
Fear porn is just another version of bread and circus media. When I make the mistake of reading it, I wash it down with Chuck Lorre:
https://solari.com/blog/chuck-lorre-explains-the-slow-burn/
Pretend you are living in 1900 – look at what you have to go through over the next 80 years. World Wars, 100 million genocided, nuclear bombs dropped, biowarfare….lots of people made it through. This century looks to me to be the same.
I like Caroline Casey’s comment” Our situation is far too dire for the luxury of realism.”
Catherine
thank you!. will do. thank you for reminding me of this important perspective. i am not afraid and it makes more sense to me that things Don’t just ‘fall apart’ as if the world is run by complete idiots, i don’t buy it.
(Also i live in a not very indebted country, close to Asia that has like 100 nukes (Israel hehe))
but i also have to understand the nuts of bolts of things, and i have a hard time understanding how ‘planet debt’ stabilizes itself.
i need to understand because the ‘slow burn’ view makes the most sense to me but i haven’t got to the bottom of it yet. i’ve consumed a lot of material on Solari but i’m sure i’m still missing a lot…
would a passable explanation be that big countries like the US don’t worry about debut as they have military power or/and great economic interdependence with the creditors, and smaller weaker countries might be less stable but also less important to the debt system?
the only thing to fear is Cylons,
thank you and bless you,
sarah
Thank you for the interview with Jordan Eliseo. At the very end of the interview Jordan Eliseo said that gold would do well even if interest rates tick up. It sounded like you were surprised and desired to follow up with him on that comment. Could you please do so and then let us know where that went. It put me on a cliff hanger. Thanks in advance!
I posted Jordan’s chart on interest rates. I don’t agree with him on this one. I think that if the Fed raises interest rates the dollar will rise and the probabilities are higher that it will be bad news for precious metals.
I cannot get the link to open for your latest interview. Thanks, J. Porter
John:
I just e-mailed Darlene at customer service to call you pronto!
Catherine