John Rubino: Mass Layoffs Coming One Way or Another

Financial writer John Rubino says expect mass layoffs of city and state workers as deficits explode and tax income plunges.

Rubino explains, “If they can’t pay their bills, they can’t pay their bills. If it can’t happen, it won’t happen. So, you get effective bankruptcy via defaults for a lot of these places. 

That means massive layoffs of city and state workers and turmoil in the bond market. That kind of thing alone is enough to send the U.S. back into recession assuming we are out of recession when it happens. 

If you combine this with all the other stuff that will be going on, it is going to be one of those perfect storm scenarios where everywhere you look, somebody is in trouble and demanding a federal bailout.

The federal government has a printing press. They can bail out Illinois mismanagement and Chicago mismanagement and basically bail out the politicians who did all of these things. 

This will come at the cost of the financial markets in general and the currency markets in particular. 

When they see trillions of dollars in bailouts here and trillions of bailouts there, they will conclude maybe you don’t want to hold the currency of the country that is doing this. 

Then the U.S. starts looking a lot like Illinois does now, not AAA credit and that is when the debt spiral starts. This causes people to lose faith in the currency, and then it’s game over.

There are mass layoffs coming one way or another. It’s just a question of who gets laid off.”

- Source, USA Watchdog

Ted Butler: Squeezing Out the Silver Shorts

Tom welcomes a new guest to the show Ted Butler to discuss everything silver market-related. 

Ted has been following these markets for thirty years and closely watched the Comex during that time. In April of 2011, when silver hit $50, there was an increase in physical movement through the Comex system. 

This increase also occurred when JP Morgan started storing silver. Over the past nine years, some 2.5 billion ounces have moved through the Comex system. 

The question is, why is there such high flows only in silver and not other metals. He believes this is due to silvers uses as an industrial commodity, with this demand consuming most of the newly mined supply. 

When we get additional investment demand, we will likely blow the roof off the price as silver is the only commodity with this dual demand profile. 

Price controls on silver have kept it suppressed, but all that's required to avoid a shortage is to allow the price to rise through standard supply and demand. 

Today, it's hard to find a genuine bear in the silver market because it's so cheap relative to everything. Ted believes that a significant reason for Bear Stearn's collapse was their silver short position in 2007. 

JP Morgan no longer holds a short position having mostly exited the paper silver markets since they acquired a massive stockpile of metals. 

They are currently neutral on the market. This is a good sign that the game is changing, and the other banks that are short today may be unable to exit without considerable losses.

- Source, Palisade Radio

Precious Metals Update and $67 Silver Eagle Price Increase

Reinventing The Monetary System With Decentralized Finance

Alex Saunders, CEO and founder of Nugget's News, joins Real Vision CEO, Raoul Pal, to explain the reinvention of the monetary system through new crypto payments systems based on Bitcoin, Ethereum, and stable coins. 

He tells Raoul the story of his introduction into the crypto world. Saunders also breaks down the expansion of global e-commerce through the explosive growth of decentralized finance.

- Source, Real Vision Finance

Ron Paul: Goodbye Middle Class? The Prime Victim of Big Government is Disappearing

Individual Liberty and Big Government are mutually exclusive. When America largely operated under a Constitutional government, the American middle class was awe-inspiring. 

Now, with a Constitution that is ignored, and with the biggest government to ever exist, the American middle class is disappearing.

- Source, Ron Paul

Inflation at Any Cost: The Fed is Destroying the Currency

​“The effect of monetary inflation, even at two per cent increases, is to transfer wealth from savers, salary-earners, pensioners and welfare beneficiaries to the government.”

- Source, Liberty & Finance

A Deep Dive On Platinum, Gold, Silver & Ratios: Value Investing In Precious Metals

This week we look specifically at platinum investing in 2020, looking at platinum's price movements over the last decade. 

We'll identify how platinum's price movements relate to gold, palladium, the automotive industry and more.

- Source, Golden Rule Radio

Gold, Bitcoin as Best Defense Aainst Coming Volatility

“In 2008, people were worried about losing their homes, or their second homes, or their third homes, or things of that nature. 

Now, you have people that don’t know necessarily if the stimulus check doesn’t come, where their next meal is coming from. 

That kind of fear changes behaviors across everything,” said Jason Urban, CEO of Drawbridge Lending and former institutional trader at Goldman Sachs.

- Source, Kitco News