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Tuesday, 5 May 2015

Rob Kirby - Debt Problem Destroying Society


Jason Burack of Wall St for Main St had on returning guest, derivatives expert, precious metals expert, former Canadian broker, investment banker and trader, Rob Kirby of Kirby Analytics http://www.kirbyanalytics.com/

During this 40+ minute interview, Jason asks Rob about what's going on in the gold market. Rob says all the physical gold is moving from West to East (China, India, Russia, Middle East, Asia, etc) while the paper price of gold doesn't reflect the supply/demand fundamentals.

Rob thinks in the near future Western central banks will run out of gold to sell to Asia. Jason and Rob discuss what happens to the gold and silver markets if a lot of gold and silver miners go bust and what that would do to supply.

Next, Jason asks Rob about why the OTC derivatives market hasn't collapsed yet. Rob points to stealth money printing in many forms including currency swaps, by covert groups like the Exchange Stabilization Fund (ESF), Bank of International Settlements, etc to keep asset prices in stocks, bonds and real estate propped up and to make banks appear solvent with fake accounting.

Rob says many trillions in backdoor bailouts has been printed to prevent the ~$800 trillion or so in interest rate swap contracts in the OTC derivatives market from collapsing everything.

Jason and Rob discuss end game for the current global financial system and what the next system may look like.

Finally, to wrap up the interview, Jason asks Rob if debt and debt based fiat currencies can destroy society and destroy the fabric of society with moral decay.

Rob and Jason think a debt based system creates serfs.