Rob Kirby of Kirby Analytics sees extreme risks ahead for the financial markets via a shattered US accounting system and $21 trillion dollars (size of US National Debt) in missing government funds, possibly held by the exchange stabilization fund (plunge protection team). One likely use for the missing funds could involve the purchase of new US Bond issuance's, given that few foreign purchases of US debt are taking place. Utlimately the fiat money shell game will lead North American citizens to an unsavory financial-reset in similar fashion as Cyprus / Poland, where savers / investors found their purchasing power was halved, overnight. Our guest proposes the perfect financial panacea to avoid the next MF Global scenario but on an epic scale; precious metals investments. The precious metals may not remain at vastly discounted prices much longer, instead soaring to unfathomably high levels beyond the means of virtually everyone - carpe diem, aurum, seize the gold, today.
Rob Kirby is a financial commentator and former broker who worked on an institutional trading desk for most of the 1980s and right up until 1996. He also worked for 11 years at Prebon Yamane, an international inter-dealer broker of foreign exchange and interest rate products. He spent an additional year at another money/bond broker called Freedom Bond Brokers, then spent two years at Garban Inc., another inter dealer bond brokerage in Toronto - and left the industry in 1996. He started writing in 1997, and was involved in a number of entrepreneurial pursuits from marketing Buffalo meat to a part time stint in the giftware business. In 2002, he went to work for Investor's Group, the largest Mutual Fund Company in Canada. He worked there up until September '04 when he resigned to write about the markets - and his book - from a "gold bug's" point of view. His website is called Kirby Analytics.