BROADCASTS.com

b'
\\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 Rosetta Stone and use my code TODAY for a great deal: https://www.rosettastone.com/ \\n\\nPrivacy & Opt-Out: https://redcircle.com/privacy'