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History has shown time and again that diversification is sound advice for good reasons other than profit.

Rich Checkan, CEO of Asset Strategies International, leverages his vast experience in the metals industry to make the case against the US dollar and the Fed’s recent moves.

In a world of high government debt, there is hardly a safer bet than precious metals.

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Meet the hosts

Fergus Hodgson is the chief executive of Antigua International, a consulting firm that connects the Americas, and he is the roving editor of Gold Newsletter. Originally from New Zealand, he has been a nomad for the past eight years, and his personal blog is the Stateless Man.

discussions

  • http://drr.lib.athabascau.ca/files/phil/375/baxter5.pdf   This was required reading at Lewis and Clark Law School back in 1976. It poses some interesting issues. Might be a good basis for discussion.

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  • Speculators, Take a look at the recent Precious Metals Summit for 2016. It has a vast amount of company presentations but consider paying particular attention to the Ross Beaty interview and the other keynote presentations.   http://www.gowebcasting.com/conferences/2016/09/14/precious-metals-summit

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  • Hello, all! I’ve been pondering this question for a while now, and would like to know what some of you think. I’m under the impression that there are two camps, which I don’t think I need to explain, so I’ll ask: Isn’t the idea of an all powerful, all knowing “God” ill conceived when what libertarians and anarchists seek is a stateless, society, with no “authority”? I feel it defeats the purpose of “fighting” against the state, because the idea of rulers and authority are immoral and illegitimate, only to give that up once this life is over, in the most complete sense that every aspect of one’s eternal journey will be subject to this being…

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  • Perhaps you will find this magnificent BBC documentary interesting. It tells the story of the ancient city of Caral, a little north of Lima on the coast of Peru, which is arguably the oldest city in and the beginning of civilization in the Americas. The Lost Pyramids Of Caral There are two points I would like to make about the story told therein of Caral which I think are relevant to libertarians. 1) The early civilization of Caral apparently arose purely out of commerce. This confirms the insights of the Austrian school of economics. And it may be an example of a commercially organized cooperative human society that antedates the rise of any state. 2) This contradicts the presumptions brought to the study by the archaeologists. For one example, at 7:20 one states the following. You can’t build … on the basis of consensus. You have to have leaders and followers. You have to have specialists. You have to have people who are in charge. People who can tell individual groups, alright, today you will be doing this. This group you are going to be doing something different. In other words, in his academic world, the possibility is inconceivable of that human cooperation could be organized by trade — the marketplace — rather than authority.

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  • I am often asked what I see in the future for precious metals (PM). Well, the easy answer is that I see them increasing in value against the US$. While it’s easy to identify a market bottom (or top) after the fact, it isn’t so easy to call it beforehand. That being said, I don’t believe we will see $18.50/ounce silver or $1200/ounce gold again…I think we have seen the bottom on metals. In general, there are two major, and divergent, trains of thought in the financial world as to the future of PM. I will call these the Bill Bonnor/Porter Stansberry school of thought and the Harry Dent school of thought (with apologies to these gentlemen for oversimplifying their respective positions). And I should say up front that these positions are very well thought out, logical and self-consistent. They have been right in many of their predictions before and are certainly worth your time! Harry Dent, an economist basing his research on the science of demographics, believes we are headed for a contraction in the economy and into a period of deflation. His model sees precious metals dropping in price against the US$. Bonnor/Stansberry believe the opposite; that with an ever-increasing supply of dollars chasing the same supply of goods, we are headed for a period of inflation. Perhaps, even, a period of hyper-inflation. In this scenario, PM prices will increase against the US$. Several years ago, I posited that we had both of these scenarios playing out at the same time…and I believe that we still do. My Levis now cost $59, $50 on sale. The same pair of jeans 5 years ago were $28, $25 on sale. Anyone who buys gasoline, clothes or food understands that the official government inflation of 1%-3% is off by about 8%. Obviously, we have many other areas of the economy where this can be observed. At the same time, the overall housing market has been dropping since the economy tanked. Sure, there are areas of the country where local markets have been improving. But this is a very temporary state of affairs. Mark my words, we haven’t seen the bottom of the housing market! Plus, there is a tremendous glut of foreclosed-upon properties that aren’t even on the market. This is very deflationary. Look for this tug-of-war to continue over the next few years. Especially if nothing changes in DC and politicians keep kicking cans down the road! That being said, I think the real key to the future of the PM market lies in the slow (or otherwise) demise of the petrodollar and the rise of (at least one) other reserve currencies. China, the world’s largest gold producer, exports none and has been actively buying up gold around the world for years! While we don’t know the official number on China’s gold holdings, China certainly has sufficient gold to gain a seat at the table of major gold holding nations! And, they have been making noises for some time now about the creation of a gold-backed world reserve currency. Should this happen, the price of gold could increase overnight! Additionally, in the last few weeks, Russia signed an agreement with China to supply gas for the next 30 years. This is huge! And huge, too, for the long-term appreciation of gold. ((And it hardly received a mention by the major news services here in the U.S.)) With Russia, China, and a number of other countries moving away from the petrodollar, look for the Saudis to rethink their agreement with the U.S. They are increasingly troubled by our Middle East Policy and especially with regards to Iran. Should the Saudis also begin to move away from the petrodollar, once more look for an increase in the price of gold as the value of the US$ drops. So, again, what do I see in the future for precious metals (PM)? I hate near-term projections. They are like trying to predict the weather 5-10 days out! I think we will likely see higher prices by the end of this year. But, I look for $150-$200/ounce silver & $5000/ounce gold in 3-5 years…events may prove these numbers conservative!

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