BROADCASTS.com

\n\t* Today's Podcast is entirely devoted to gold and gold stocks
\n\t* Last night, in just a few minutes, gold dropped $50
\n\t* One or more major sell orders hit the market at the same time and gold went down below $1100
\n\t* It was down $20 by the time New York trading opened and by market close gold was down around $37 on the day
\n\t* Silver was down only about .15 today
\n\t* Why was all that gold dumped? The goal could not have been to get a good price - the goal was to knock the price down
\n\t* The HUI was down 10% on the day
\n\t* This bear market in gold stocks is now bigger than the one from 1996 to 2000
\n\t* Gold stocks are much cheaper today than they were at the end of the dot com bubble
\n\t* If this a measure of trust in central bankers, the market is expressing greater confidence in Janet Yellen than it did in Alan Greenspan in 1999-2000,
\n\t* We know how badly that turned out for stocks and how bullish it turned out for gold
\n\t* The timing of this selloff comes on the heels of the media's spin on Janet Yellen's recent Congressional testimony
\n\t* But the real news that ignited the sell-off was China's admission that they have gold reserves and in fact they intend to add to those reserves, surprising the market
\n\t* If China was lying about how much gold they have had for the last six years, why does anyone believe they are telling the truth now?
\n\t* I think they are still lying - being strategic
\n\t* They want to get the price of gold down because they still want to buy a lot more gold
\n\t* If China still needs more gold, eventually this will bring the price of gold up
\n\t* Also a very negative WSJ article compared gold to the "pet rock" craze
\n\t* This is the same nonsense that proliferated in the 1990's
\n\t* The WSJ article describes gold investment as "a leap of faith" relative to dollar or stock investments
\n\t* Gold should not be compared to stocks - it is currency, a commodity
\n\t* Gold has intrinsic value, whereas the dollar is a fiat currency, backed by faith alone
\n\t* Gold has had value for 5,000 years - you don't need ot have faith, you just own it
\n\t* There will always be a use for gold
\n\t* Why have faith in central bankers when everybody who has put their faith in central bankers in the past has been burned
\n\t* An article on Zero Hedge compared the WSJ op-ed to a similar one from 1999
\n\t* The title was, "Who Needs Gold, When You Have Alan Greenspan?"
\n\t* They called him "the maestro"
\n\t* He gave us the dot com bubble, the real estate bubble and the financial crisis of 2008
\n\t* That's what happened to the people who put their faith in Alan Greenspan
\n\t* Over the next 12 years after that article was written, gold appreciated 650%
\n\t* Who needs gold when you have Alan Greenspan? Everybody
\n\t* Today Alan Greenspan recommends gold
\n\t* If we've got Janet Yellen, then we need gold
\n\t* Greenspan wrote the playbook that Bernanke and Yellen are expanding and he knows it does not work
\n\t* When you have Janet Yellen, you need all the gold you can get
\n\t* Fortunately, it's a lot cheaper to buy gold and it is a lot cheaper to buy the companies that mine it
\n\t* What could go wrong? Everything - what went wrong in 1999 and in 2008?
\n\t* The same thing that went wrong then will go wrong now, because it is the same central bankers
\n\t* And the same players on Wall Street either don't recognize the danger or are pretending it doesn't exist and abandoning everything we know about monetary policy
\n\t* This is the biggest bubble yet - the entire economy is dependent on bubbles
\n\t* Just when people trust the central bankers the most, that's the best time to buy gold
\n\t* When this market turns it's going to be vicious
\n\t* Once the market turns,\n\nOur Sponsors:\n* Check out Ethos: ethoslife.com/GOLD \n\nPrivacy & Opt-Out: https://redcircle.com/privacy