Victor has over 45 successful years on Wall Street in trading independently with his own money and on behalf of big names and other notable investors such as Leon Cooperman and George Soros.
He has managed futures trading for EAM Group of Companies and global investment banks such as HSBC, RBS and Nomura.
Victor is also the founder, CEO and President of Alpha Financial Technologies LLC. He is also a founding partner, CEO and President of EAM Partners L.P.
During this 30+ minute interview, Jason asks Victor about his February 2018 article about the stock market topping then and if debt has reached its tipping point and how Victor's views have changed?
Victor now thinks that emerging markets have reached their limit in terms of debt but he thinks, at least for the short term, that deficits don't matter for the US and that the US will be spared from massive pain until last.
Jason also asks Victor about his newer article about how large US banks have gotten the rules changed so they make large profits no matter what off buying US Treasuries and funding expanding government deficits.
Victor also has very interesting thoughts about President Trump, the upcoming 2018 mid-term Congressional elections, how difficult high frequency trading algorithms (HFT) have made it for human professional traders as well as his thoughts on the US Dollar rally, his comments a few years ago about hyperinflation and his views on where we are now relative to his vast past experience in different market conditions and financial history.
Are we in something similar to the 1970s stagflation or something more like the 1-2 years prior to the October 29, 1929 stock market crash?
Imagine that you know what you know now about silver, but you don't own an ounce. If you purchased $1000 worth, how would you spend it? This is my take on this scenario...
This week we look back at the gold market from 2001 onward, alongside the DOW, US Dollar index, and other financial sectors. Societal tensions are reaching new highs between parties.
Pair this with uncertainty in the currency markets and you have a recipe for a market shift.
We are now just one black swan event away from a major market change. Be ahead of the curve and prepare now.
Fund Manager Dave Kranzler writes, “this is the most bullish set-up for the precious metals in history.”
The Commitment of Traders report shows the commercials are taking net-long positions in gold and silver futures.
The banks must have a good reason for going long on precious metals, Kranzler says. In the midst of this, seasonal buying is likely to come soon from India and China.
As for the economy, is the U.S. doing better than the rest of the world? Kranzler exposes the crisis the U.S. is currently in. The stock market indices are rising, but Kranzler says this is not reflective of a lot of the market.
Longer term, things could get worse. He says, emerging market crises are bound to affect the U.S. market.
Matt discusses his latest Investor Letter. In it, he outlines how 2018 seemed like it would be a good year but instead has become a gut punch for investors.
Matt describes the development that continues behind the scenes in the mining space including takeovers and acquisitions. He doesn’t feel that we are in a bear market, but people are beginning to raise the question. Based on the average length of historical bull markets 2018 looks like a consolidation period before another move up.
He thinks the turning point is coming soon and will be V-shaped. There are some short-term headwinds and if the slide continues the reason will be the US Dollar. The rate hikes have propped up the dollar, and other countries have not followed suit. Europe remains a mess and is half of the US Dollar Index basket which is working to the dollars benefit.
The US Dollar has some headwind due to political instability from upcoming elections. If the Democrats take the house, there may be impeachment talks regarding Trump. The US fiscal situation remains poor, and the Republicans have done little to manage the national debt.
Massive deficits continue, and the Debt to GDP ratio is forecast to continue deteriorating. A lot of high-tier companies have sold off recently and are likely good deals at these levels. Royalty and streaming companies are also good deals as they should be able to ride out the rough periods.
Lastly, investors should look at private placements because there is competition for capital.
For the vast majority of people, wages have been stagnant since the 1970's. What happened in 1971? Well, that was the year that the U.S. dropped what was left of the gold standard. The major beneficiaries of that fateful decision have been the politically-connected and crony 1%.
Gold and silver prices ended last week strongly, but worked sideways and downwards throughout this week and will likely end around $1200 oz gold and $14.60 oz silver.
We will be getting to our week’s interview in a few brief minutes, BUT to begin I want to share with you some highlights from a video I stumbled upon about a week ago.
In the clip are you might recognize such names as Larry Kotlikoff (a professor who often testifies before the US Congress, warning about the our having some $210 trillion dollars in total debts and unfunded liabilities at net present value).
As well you will se e former head of research at the Bank for International Settlements, William White. And finally the man speaking most of the time, is a german monetary and development economist Richard Werner.
He speaks frank and openly upon two points we will be discussing this week amongst many others.
Emerging market currency chaos thanks their recently acquired $14 trillion in US dollar denominated debts, as well as the central bankers wet dream of a future cashless society where central banks can more easily bypass the more traditional fractional reserve based model of today.
