GoldSeek Radio: Ed Moya & Bob Hoye
Ed Moya &
Bob Hoye
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Ed Moya, Chief Market Strategist at Oanda makes his show debut with comments on equities, PMs, Bitcoin and crude oil. Our guest notes the price of gold would be much higher if the trade war were a legitimate threat to economic growth. Gold aficionados will be rewarded for their patience once the EU experiences a renaissance in economic output. While Oanda remains bullish on the oil sector, during the summer months production increases tend to boost output. The host / guest agree that the digital blockchain revolution will be the foundation of the global economy. The unique portfolio-beta balancing qualities of cryptos make adding a modicum of digital assets to portfolios sound advice. Signal Hunters is excited to present blockchain embedded images from Mars, courtesy of NASA, in a Bitcoin fork token - contact the host for details gsradio@frontier.comThe Bitcoin Bubble - the exponential rise of Bitcoin / Cryptos in 2017, where Bitcoin ascended from $1,000 to $20,000 in only 12 months, a 20x advance was a bubble: the host / guest draw parallels with the epic Nikkei market zenith. However, the host finds similarities with the Dot.com bubble where many companies survived and thrived, such as Amazon, Google and eBay. Governments can shutdown cryptos easily: Mr. Pento notes the small number of BTC holders and core developing team as potential challenges. The host counters, citing the decentralized nature of many coins and peer-to-peer structure of Bitcoin In addition, Bitcoin remains a national currency of Japan, extremely techno-friendly country. Crytocurrencies are not money or currencies: Mr. Pento says cryptos are not rare and indestructible, the host counters with the nearly indecipherable nature and immutable aspects as well as the distributed digital ledger - cryptos maintain value, albeit highly volatile, ideal peer-to-peer digital currencies. Gold is real money but not silver: Gold is the king of currencies, silver is the prince and cryptos share many similar qualities. Bitcoin has been diluted by Forks (similar to dividends) and 10,000 other competing tokens: The host agrees that there is dilution, however, there are also over 15,000 stocks trading on US exchanges and many companies within each industry; dilution does not detract from the value of cryptos but is de facto evidence of the need for diverse tokens. Cryptos have no value? Mr. Pento advocates digital wealth as a chief means of transferring wealth abroad. The host directs the dialogue to the Bitcoin revolution underway in Venezuela where people are fleeing the nation in droves amid 10 million percent inflation, as forecasted by the IMF in a Reuter's article on GATA.org. Moving wealth across borders is challenging given that $300,000 could soon be required to purchase a $3 loaf of bread, just 2 years earlier and a gold coin $120,000,000 or $120 million!Parallels are drawn between the numerous inflationary fiasco's from the genesis of civilization until today, including Ancient Greece, Rome, China, 100 years of inflation during the 1700's in France, perhaps best illustrated by the easy to read, Fiat Money Inflation in France (White, 1876), free PDF / HTML copies here. In the last century, hyperinflation ravaged the economies throughout Europe as well as Zimbabwe. Michael Pento outlines his less than favorable Bitcoin price forecast via the Pentonomic multivariate-regression model.Bob Hoye, Editor & Chief Investment Strategist of Charts and Markets.com rejoins the show with must-hear commentary. The US equities market and the precious metals sector seem like safe investment strategies. The duo comment on the market correlation in the cryptocurrency market. Bitcoin and most Altcoins share low correlations with competing asset classes. Digital currencies are solid investment portfolio, beta-boosting asset, for risk-tolerant, investors. The discussion includes an overview of financial bubbles and the implications for future market prices.Please Listen Here
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Guest Bios
Bob Hoye
Institutional Investors
With a degree in geophysics and a number of fascinating summers in mining exploration, one winter in "the bush" quickly led Bob into the financial markets. This included experience on the trading desk and in the research department of a large investment dealer, which led to institutional stock and bond sales.
Bob's review of financial history provided the forecasting models designed to anticipate significant trend reversals in the sometimes alarming volatility typical of the transition from rampant speculation in tangible assets to fabulous speculation in financial assets.
In anticipation of the latter opportunity, a monthly publication for financial institutions was started in January 1982.
This competently covered the stock market, the yield curve, credit spreads as well as metal and energy prices.
In 1998 the Institutional Advisors website was started as a forum for unique and reliable financial research.
Website: click here.
Ed Moya, Oanda
With more than 20 years' trading experience, Ed Moya is a market analyst with OANDA, producing up-to-the-minute fundamental analysis of geo-political events and monetary policies in the US, Europe, the Middle East and North Africa.
Over the course of his career, he has worked with some of the world's leading forex brokerages and research departments including Global Forex Trading, FX Solutions and Trading Advantage. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news.
Based in New York, Ed is a regular guest on several major financial television networks including BNN, CNBC, Fox Business, and Bloomberg. He is often quoted in leading print and online publications such as the Wall Street Journal and the Washington Post. He holds a BA in Economics from Rutgers University.