Time Stamp References:0:45 - Covid and the depression.4:25 - Foreclosures and the CDC.6:20 - Now compared to 2008.10:30 - Fiat currency collapse.11:55 - Opinion on the Comex.18:15 - Contrarian investing.21:50 - Picking stocks by liquidity.24:05 - Hyperinflation and valuations25:50 - Greatest prices for commodities.27:30 - Adventures with Dr. Quinton.32:45 - His current book on investing.
Tom welcomes Robert Moriarty to the program. Bob tells us how he really feels about the economic damage caused by the lockdown and the reaction to the virus. He says, "The tests are testing for any coronavirus, so the numbers are totally bogus." Over 50 million people have lost their jobs, and numerous businesses are closing permanently. Mathematically the debt can't be repaid, and the economic damage occurring is far worse due to the lockdown than the virus.
He discusses the CDC dictate that deferred rents and prevented evictions. The government has taken a bomb and blown up the economy, saying, "it's for your own good.. what they are doing is totally insane."
Bob discusses paper-trading in the commodity markets and why these markets don't trade physical products. He believes there is no shortage of gold and silver and that the only thing that matters is what someone will pay for it. Therefore, you can't have a Comex default.
To be a good trader, all you need to know is that the mob is always wrong, and you need to understand human behavior. Corrections are normal, and investor sentiment indicators are useful when they reach extremes. He advises on when to buy and sell stocks based on their liquidity.
In hyperinflation, the nominal value for gold or shares might be mostly meaningless because the money will be worthless. You will see things that will knock your socks off politically, and when the gold market gets going, things will get stupid.
Bob gives his thoughts on New Found Gold and Dr. Quinton's geological talents for discovery.
Lastly, he discusses the collapsing political system in America and the illusion of choice.
Bob brought 321gold.com to the Internet almost 14 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 820 missions in Vietnam. He holds 14 international aviation records. He is the author of Nobody Knows Anything and Basic Investing in Resource Stocks.