GoldSeek Radio: Wolf Richter, Bill Murphy, Chris Waltzek Ph.D. & Robert Ian
June 28th, 2019
(S14-E702)Featured GuestsWolf Richter
& Bill Murphy
Please Listen Here - MP3
Interview Recap
Bill Murphy of GATA.org returns to the show with fresh insights on the stunning PMs shares rally, which outperformed the key US equities markets.Gold may have built a final base in preparation for liftoff to $2,000+ in the coming years, as the "Gold Cartel" runs out of physical bullion to sell.According to the mountain of empirical research at GATA.org, the nefarious cabal is quickly losing control of the PMs markets.In the XAU shares sector, equities investors are placing leveraged bets on much higher underlying metals prices.Several reliable sources indicate that peak-gold production has curtailed supply at a critical juncture in the financial markets, just as demand builds.Investors may have grown complacent amid a spectacular paper asset bubble, as huge money flows shift into highly undervalued hard assets.The resulting massive wealth transfer could catch millions of investors off guard.The discussion turns to the AG market, silver that could be the most undervalued asset in the world today.Given the rise in palladium to more than an ounce of gold over $1,500 recently, the sky could be the limit for a similar industrial PM, silver.A sea change in central bank attitude towards silver occurred recently in Moscow, where stockpiles include seventy pound bars of silver.If the trend continues, the already dwindling supply conditions could reach a tipping point faster than anticipated by most financial models.Against the unprecedented backdrop of over 90 : 1 silver to gold ratio, once silver closes above $21 on a weekly basis, Bill Murphy expects the price to rapidly begin an ascent to the $50 peak of 2008 / 1980, build a new base and ignite the 2nd rocket stage onward to triple digits.Wolf Richter, founder of WolfStreet.com returns with his latest analysis, advising investors to buy and hold PMs as insurance against market exposure.Wolf Richter presents graph analysis of the major cities via their Case / Shiller Housing indexes.The charts and podcast are available in a separate Youtube Slideshow, for a fuller visual experience.Our guest notes a few key cities where prices may have advanced beyond reasonable valuations due to higher than typical per capita income levels.In some cases, a 1 bedroom condo can sell for $1.5 million.On the contrary, prices in Houston, Denver, Detroit, Cleveland, Seattle, L.A., Miami, Tampa, and Washington DC have maintained more steady growth.Wolf Richter notes many US shares are overpriced as the theme of steady corporate buybacks continues to support the market bubble.The bulwark staving off the Day of Reckoning will eventually give way amid impossible to sustain levels of leverage.Just 5 US companies bought back $55 billion worth of their own shares (Richter, 2019).On a different topic, Chris Waltzek's ancient artifacts preservation society (AAPS) reveal more compelling evidence of a Kardashev Type I civilization on the earth (Figure 1.1.).Please Listen Here
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Guest Bios
Bill MurphyGATA.org
Bill Murphy, GATA ChairmanMurphy grew up in Glen Ridge, N.J., and graduated from the School of Hotel Administration at Cornell University in 1968. In his senior year he broke all the Ivy League single-year pass-receving records. He then became a starting wide receiver for the Boston Patriots of the American Football League. He went on to work for various Wall Street brokerage firms and specialized in commodity futures. He began as a Merrill Lynch trainee and went on to Shearson Hayden Stone and Drexel Burnham. From there he became affiliated with introducing brokers and eventually started his own brokerage on 5th Avenue in New York. He now operates an Internet site for financial commentary, www.lemetropolecafe.com.
Website.Wolf Richter
WolfStreet.com
WolfStreet.com founder, Wolf Richter makes his show debut with cautionary comments on the US domestic economy.In his cynical, tongue-in-cheek manner, he muses on WOLF STREET about economic, business, and financial issues, Wall Street shenanigans, complex entanglements, and other things, debacles, and opportunities that catch his eye in the US, Europe, Japan, and occasionally China.
WOLF STREET is the successor to his first platform...
...whose ghastly name he finally abandoned in July 2014. Here's the story on that.
Wolf lives in San Francisco. He has over twenty years of C-level operations experience, including turnarounds and a VC-funded startup. He has a BA, MA, and MBA (UT at Austin).
In his prior life, he worked in Texas and Oklahoma, including a decade as General Manager and COO of a large Ford dealership and its subsidiaries. But one day, he quit and went to France for seven weeks to open himself up to new possibilities, which degenerated into a life-altering three-year journey across 100 countries on all continents, much of it overland, that almost swallowed him up.