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Last Build Date: Fri, 13 Oct 2017 00:50:23 +0000

 



Simon Black – 078: Eating used coffee grounds for breakfast and black-market cash deals with taxi drivers

Fri, 13 Oct 2017 00:49:10 +0000

Podcast Episode #78

Eating used coffee grounds for breakfast and black-market cash deals with taxi drivers


Today’s Notes is a bit different…

I recorded a conversation I had with my colleague Sean Goldsmith about my recent travels to Venezuela. I explain how I exchanged my US dollars on the black market for Bolivar (with a taxi driver I’d never met before)… and how the situation in Venezuela will get worse before it gets better. Plus, I share observations and stories of things I saw on the ground in one of the world’s poorest and most dangerous countries.

Then we discuss the tragedy in Puerto Rico… and why I think Puerto Rico is still one of the greatest opportunities in the world today.

Continue on Richer Daddy

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Simon Black – Cyprus STILL has “an emergency situation”. And capital controls

Tue, 22 Apr 2014 11:51:30 +0000

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April 9, 2014
Santiago, Chile

Imagine that your country and banking system are so broke that you have to receive approval from a special committee just to send your own money to your kids who are away at university…

Crazy, right?

But that’s exactly what’s going on in Cyprus. And it all happened overnight.

Just over a year ago, people across Cyprus went to bed thinking everything was just fine. They woke up the next morning to a brand new reality: their government AND their banking system were flat broke.

In collusion with other European powers, the Cypriot government FROZE bank accounts across the country.… Continue on Richer Daddy

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Simon Black – I’m amazed more people aren’t doing this. But soon, they will be.

Tue, 22 Apr 2014 11:51:24 +0000

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April 11, 2014
En Route to Buenos Aires

Every now and again, the universe presents us with opportunities that are so obvious we have to wonder why everyone else isn’t doing it too.

This is how I felt yesterday while attending an invitation-only “Demo Day” for startup companies based in Chile.

As we’ve discussed before, Chile is a top-20 Startup ecosystem worldwide. Entrepreneurs from all over the planet come to Chile to start their businesses, grow, and thrive. And there are a lot of reasons for this.

First, the Startup Chile program provides $ 40,000 in equity-free seed capital to roughly 300 select entrepreneurs each year who make the cut.… Continue on Richer Daddy

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Jim Rickards & Mike Maloney: Gold Revaluation & THE DEATH OF MONEY

Sun, 20 Apr 2014 16:09:38 +0000

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Get Jim’s new book here: http://amzn.to/1bwpYS6 Jim Rickards has been featured in 4 out of the 5 episodes that we have released so far in the ‘Hidden Secrets Of Money’ series – and for good reason. Jim is one of the most articulate thinkers and teachers in the world when it comes to explaining what is really happening in the world of economics today, especially when it comes to gold and silver.

Jim’s first book ‘Currency Wars’ was a bestseller and is highly recommended reading for anyone who wants to get an understanding of economics from ‘the inside’. As you’ll learn in this video, James G Rickards has a massive amount of experience in both the private and public sectors.… Continue on Richer Daddy

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It’s Official: The Chinese Are Selling U.S. Debt… and Buying Gold

Thu, 20 Feb 2014 16:11:59 +0000

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The latest news is in…

The Chinese are selling U.S. government debt… and they’re buying gold. So let me ask you…

In your opinion, what will the signs be that the U.S. dollar’s heyday is ending?

What will the signs be that China is giving up on the U.S. dollar as the world’s reserve currency?

Specifically, we learned this week that the Chinese government shrank its holdings of U.S. government debt by $ 47.8 billion in December 2013, the most in two years. One message from this is that the Chinese government doesn’t want to hold any more dollars than it has to.… Continue on Richer Daddy

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Simon Black – The one investment you want to avoid at all costs

Thu, 20 Feb 2014 16:00:15 +0000

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February 20, 2014
Sovereign Valley Farm, Chile

4.1%.

I read it twice to make sure my brain had processed the number correctly. Yep, 4.1%.

This was the annual yield promised on a new 5-year bond investment that a private banker colleague had sent to me. I couldn’t believe it.

The bond issuance was by a state-owned company in India. And despite the Indian government having a -very- recent history of capital controls, price fixing, and asset confiscation, and despite the company being rated near JUNK status, the bond only carried a yield of 4.1%.

This is really amazing when you think about it.… Continue on Richer Daddy

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NIA: Proof Gold Stocks Most Undervalued in History

Wed, 01 Jan 2014 17:14:37 +0000

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On Sunday when NIA suggested January 2015 GDX $25 call options, we showed you a chart of the HUI/Gold ratio. The HUI index for the most part tracks the same exact stocks owned by GDX. The HUI/Gold ratio shows how undervalued gold stocks are vs. the price of gold. The HUI/Gold ratio has a 17 year average of 0.37 and currently is down to 0.164, the lowest it has been since 2001, at the very beginning of gold’s secular bull market.

 

However, this doesn’t tell the complete story. Gold miners have seen their expenses go through the roof – a fact that proves there is massive price inflation, despite what the gold bears say.… Continue on Richer Daddy

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The Fed Can’t Print a Brighter Future

Wed, 01 Jan 2014 16:13:19 +0000

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Stock indexes are making new highs. With share prices surging the collective mood must be ebullient. After all, stock prices are the collective present value calculations of investors’ guesses as to future earning streams. Future profits and prosperity equalcurrent high stock prices.

But this isn’t your ordinary market. While stock prices portray exuberance, at no time in history have American adults feared more for the futures of their children.

Americans answering a survey from Pew Research aren’t wild about the present economy and see trouble ahead. Only 33% think the economy is good now. More importantly, the very same percentage (only 33%) of respondents believe their children will be better off than their parents.… Continue on Richer Daddy

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Simon Black – The easiest place in the world to establish second residency

Wed, 01 Jan 2014 16:00:32 +0000

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Recently, we’ve discussed several different economic citizenship programs around the world. And while these programs are not for everyone due to their higher costs, they have all surfaced at the same time, and I would be derelict in my duties to not to inform you about these options.

Bottom line—it’s all good news. The supply of potential second citizenships is increasing. And I’m certain it’s going to continue to in crease, even despite the occasional grumblings and misgivings.

Malta is an interesting example; after passing their new economic citizenship program, the European parliament is scheduled to have a ‘debate’ in January to discuss the program.… Continue on Richer Daddy

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Simon Black – This pretty much tells you everything you need to know about money and banking

Tue, 31 Dec 2013 16:01:42 +0000

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December 31, 2013
Sovereign Valley Farm, Chile

The other night I played my first game of Monopoly in probably 20 years.

One of my friends gave me the infamous board game for Christmas, and as I’ve had a lot of guests down here over the last few days, we all thought we’d give it a go.

Guess who won? Nope. Not me. And not any of my friends either. The bank won.

The bank actually wins every game of Monopoly.

Think about it. All of the properties are initially purchased from the bank. You mortgage them back at half the market value.… Continue on Richer Daddy

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New NIA Option Suggestion

Sun, 29 Dec 2013 14:15:25 +0000

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In 2014, NIA believes we will see precious metals and agricultural commodities make their largest gains in history. NIA’s #1 way to play next year’s agriculture boom is its stock suggestion Agria (GRO), which broke out big on Friday rising $0.10 or 7.24% to $1.48 per share. In NIA’s opinion, new 52-week highs are coming for GRO very shortly.

NIA would like to take this opportunity to announce its #1 way to play next year’s rally in precious metals. NIA suggests for its members to research the January 2015 Market Vectors Gold Miners ETF (GDX) $25 call option, currently priced at $1.92.… Continue on Richer Daddy

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NIA: Gold’s Previous Bottoms vs. Today

Fri, 27 Dec 2013 15:00:47 +0000

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Please disregard our email from Sunday evening, which stated that gold’s high of $850 per oz in 1980 is the equivalent of $5,301.24 per oz today after adjusting for growth in real U.S. money supply and above ground gold stocks. Gold’s 1980 high of $850 per oz is actually the equivalent of $7,944.83 per oz in today’s economy. Furthermore, gold’s 1976 low of $103.50 per oz is the equivalent of $1,096.12 per oz in today’s economy. Gold’s 1985 low of $285.75 per oz is the equivalent of $1,276.25 per oz in today’s economy.

 

The average of gold’s lows in 1976 and 1985 are the equivalent of $1,186.19 per oz in today’s economy.Continue on Richer Daddy

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Keiser Report: Gold, Silver, Bitcoin FTW! (E527)

Fri, 27 Dec 2013 01:53:17 +0000

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In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss QE as the meals on wheels for over-leveraged, consum-oholic debt addicts with Ben Bernanke as the pusher with a story to tell which is that ‘cheap money is good’ for buying depreciating assets like cars and where ‘gold slamdowns’ are meted out to those who refuse to stay intoxicated on that cheap money. In the second half, Max interviews Barry Silbert of Second Market and BitcoinTrust.co about the future of bitcoin in terms of regulation, market dominance and how the transaction network will change the way people think of money.… Continue on Richer Daddy

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Philip Judge on Phase Transition in 2014

Wed, 25 Dec 2013 00:13:48 +0000

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The town of Lugano lies on Lake Lugano nestled in the Swiss Alps in Italian-speaking southern Switzerland, arguably one of the most beautiful old towns in all of Europe. Dinning in Lugano one evening last month with Alex Stanczyk and Jim Rickards, the conversation turned to ‘Complexity Theory.’ Jim spends several pages describing details of the Theory in Chapter 10 of his excellent bestselling book Currency Wars: The Making of the Next Global Crisis (1).

One thing I learned from the dinner is that Complexity Theory is complex. However, the theory could be summarized as follows:
Complex systems continuously produce surprising results.… Continue on Richer Daddy

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Keiser Report Talks Silver – Jim Rickards – Dollar Collapse – E525

Tue, 24 Dec 2013 21:52:34 +0000

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In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the melt down in the art market as the filthy rich scramble for safe havens from the taxpayers angry at the billions in free money they’ve been given. They also discuss financial irrigation, amputated gold and a special mince meat pie and Jamie stew for Christmas. In the second half, Max interviews Jim Rickards, author of Currency Wars, about central bank vaporware, straws in the dollar wind and about how Janet Yellen is to Ben Bernanke as Miley Cyrus is to Lady Gaga – trashier than the original.… Continue on Richer Daddy

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More Nails In The U.S. Dollar’s Coffin – Mike Maloney

Tue, 24 Dec 2013 20:11:06 +0000

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Government shutdown? Inefficient politicians? These things are nothing new, and pale in comparison to the real story developing quietly behind the noise and hoopla we receive from the press.

The death of the U.S. dollar as the global reserve currency is the elephant in the room that nobody wants to acknowledge.

It’s only been a short while since Michael Maloney delivered his keynote speech ‘Death Of The Dollar Standard’ in Singapore, where he showed the events that add up to conclusive evidence of a global move away from the U.S Dollar Standard. Bilateral trade agreements, avoidance of the U.S. Dollar in trade, repatriation of gold — Michael Maloney deemed them all to be ‘nails in the coffin’ of the dollar standard.… Continue on Richer Daddy

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Final Plunge in Gold and Silver is Underway

Sat, 23 Nov 2013 16:11:21 +0000

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Final Plunge in Gold and Silver is Underway Commodities / Gold and Silver 2013 Nov 22, 2013 – 11:40 AM GMT

By: Jordan_Roy_Byrne

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(image) Two weeks ago we penned Gold Bear to end with a Bang, and noted the increasing probability that precious metals could be headed for a plunge to new lows ahead of a final major bottom. Two weeks later we continue to hold that view. The forthcoming charts present levels at which the more than two year old cyclical bear market could end. At the least, these support levels can provide a point at which short positions and hedges could be liquidated.… Continue on Richer Daddy

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Simon Black – The amazing disappearance of GOLD from the American psyche

Sat, 23 Nov 2013 13:59:59 +0000

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November 22, 2013
Dallas, Texas

In George Orwell’s seminal work 1984, there’s a really great scene early in the book between Winston (the main character) and Syme, a low-level functionary at the Ministry of Truth.

Syme is working on the 11th Edition of the Newspeak Dictionary, and he explains to Winston how the Ministry of Truth is actually removing words from the English vocabulary.

In Newspeak, words like -freedom- have been struck from the dictionary altogether, to the point that the mere concept of liberty would be incommunicable in the future.

I thought about this scene recently as I was testing out Google’s new Ngram Viewer tool.… Continue on Richer Daddy

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Peter Schiff Says Beware of Bitcoin!

Fri, 22 Nov 2013 13:52:06 +0000

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In his latest video, Peter Schiff shares his thoughts on the bitcoin mania that is sweeping the world. After rising from less than $20 to more than $600 in one year, many investors are wondering if bitcoin might be worth the risk. Early adopters pitch bitcoin as “gold 2.0″ – a digital currency that cannot be manipulated like fiat money. Bitcoins are even “mined,” similar to physical gold and silver. However, Peter explains why bitcoins still fail as a substitute for gold and strongly urges investors to avoid this risky new currency. Bitcoin could very well have already hit its top, but Peter is confident gold is still well below its future record highs.… Continue on Richer Daddy

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Why can’t Germany get its gold back ! Interview with David Morgan

Mon, 18 Nov 2013 19:19:19 +0000

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Gold was always considered as solid and save instrument. Many Countries currency was based on Gold reserves. People loved to make investment in Gold. But now this Gold is in crisis. These Gold crisis are linked with economic, financial, debt and currency crisis. Anyhow, too much dependence on one instrument always brings down fall. This video is showing What the Gold and Debt Crisis are?… Continue on Richer Daddy

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The Single Biggest Reason Most Investors LOSE Money

Mon, 18 Nov 2013 18:13:51 +0000

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It’s almost never openly admitted in public, but the reality is that few if any investors actually beat the market in the long-term.

The reason for this is that most of the investment strategies employed by investors (professional or amateur) simply do not make money.

I know this runs counter to the claims of the entire financial services industry. But it is factually correct.

In 2012, the S&P 500 roared up 16% including dividends. During that period, less than 40% of fund managers beat the market. Most investors could have simply invested in an index fund, paid less in fees, and done better.… Continue on Richer Daddy

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Fiat Money Quantity hits new record

Mon, 18 Nov 2013 16:15:03 +0000

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QE3 is running at $ 85bn, and directly increases FMQ by double that amount, or $ 170bn, indicating that other factors contributed $ 57bn to the FMQ total. This suggests that the current rate of QE was insufficient to provide the liquidity required in money markets consistent with current interest rates, at least for the month of September. However, bond yields are still high, despite the deferral of tapering, as shown in the second chart, which is of the US Treasury 10-year note yield.

Since 30th October the Treasury 10-year note yield has increased from 2.5% to 2.75%. During that time it has been more widely acknowledged that tapering has been deferred for the foreseeable future.… Continue on Richer Daddy

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India’s Demand to Buy Silver Doubles on Gold Ban, Price Drop

Fri, 08 Nov 2013 08:12:43 +0000

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Anti-gold rules force consumers to buy silver instead, imports double from 2012…

DEMAND to buy silver amongst Indian households has pushed the country’s imports of the precious metal to twice last year’s level and may set a record in 2013, according to industry experts.

Between January and September, silver imports to India totaled more than 4,000 tonnes, already beating full-year 2012 says the Thomson Reuters GFMS consultancy.

The world’s largest end-consumer of silver bullion as well as gold, India’s current record demand to buy silver came at just over 5,000 tonnes in 2008.

That figure equals some 16% of total global demand, put around 30,000 tonnes per year.… Continue on Richer Daddy

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The adverse effects of monetary stimulation

Fri, 08 Nov 2013 07:14:59 +0000

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There are two indisputable economic facts to bear in mind. The first is that GDP is simply a money-total of economic transactions, and a central bank fosters an increase in GDP by making available more money and therefore bank credit to inflate this number. This is not the same as genuine economic progress, which is what consumers desire and entrepreneurs provide in an unfettered market with reliable money. The second fact is that newly issued money is not absorbed into an economy evenly: it has to be handed to someone first, like a bank or government department, who in turn passes it on to someone else through their dealings and so on, step by step until it is finally dispersed.… Continue on Richer Daddy

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Simon Black – This one chart shows you who’s really in control

Fri, 08 Nov 2013 06:01:07 +0000

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November 7, 2013
Bangkok, Thailand

Check out this chart below. It’s a graph of total US tax revenue as a percentage of the money supply, since 1900.

For example, in 1928, at the peak of the Roaring 20s, US money supply (M2) was $ 46.4 billion. That same year, the US government took in $ 3.9 billion in tax revenue.

So in 1928, tax revenue was 8.4% of the money supply.

In contrast, at the height of World War II in 1944, US tax revenue had increased to $ 42.4 billion. But money supply had also grown substantially, to $ 106.8 billion.… Continue on Richer Daddy

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How to Legally “Opt Out” of Federal Income Taxes

Fri, 08 Nov 2013 05:12:46 +0000

If you’re a retiree… or if you’re simply looking to earn safe interest on your money… you have two enemies:

1. Federal income tax rates that can take a 20%-30% bite out of your earnings. In some cases, that number is as high as 40%.

2. Interest rates that are near record lows. Right now, you’re lucky if you can make even 1% on your bank savings… And that’s before taxes.

Fortunately, you can fix this situation quickly.

You just need to know how to legally “opt out” of federal income taxes on your savings… and where to find much higher (but still safe) rates of income…

Let me show you what I mean…

Right now, the highest-yielding one-year Certificate of Deposits (CDs) pay about 1%.… Continue on Richer Daddy

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The United States: A Third World Economy in 20 Years

Sat, 26 Oct 2013 15:23:32 +0000

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According to the Bureau of Labor Statistics (BLS), September brought 148,000 new jobs, enough to keep up with population growth but not reduce the unemployment rate. Moreover, John Williams (shadowstats.com) says that one-third of these jobs, or 50,000 per month on average, are phantom jobs produced by the birth-death model that during difficult economic times overestimates the number of new jobs from business startups and underestimates job losses from business failures.

The BLS reports that 22,000 of September’s jobs were new hires by state governments, which seems odd in view of the ongoing state budgetary difficulties.

In the private sector, wholesale and retail trade produced 36,900 new jobs, which seems odd in light of the absence of growth in real median family income and real retail sales.… Continue on Richer Daddy

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12 Reasons Why Gold Price Will Rebound and Make New Highs in 2014

Sat, 26 Oct 2013 15:21:04 +0000

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(image) Investor sentiment towards precious metals is at the lowest level in over a decade. Many analysts believe the bull market is over and are calling for sub-$ 1,000 gold in 2014. Even diehard gold bugs are losing faith, as the correction has been longer and more severe than most had anticipated.

So, is it time to throw in the towel? Is the bull market in precious metals really over?

In order to answer this question, I thought it would be constructive to re-visit the fundamental drivers of the gold price and determine if anything changed over the past two years to weaken the bullish case.… Continue on Richer Daddy

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Gold, Silver and the Debt Ceiling

Thu, 24 Oct 2013 16:17:09 +0000

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Commodities / Gold and Silver 2013

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(image) To paraphrase William Shakespeare, “the debt ceiling drama is a tale told by idiots, full of sound and political fury, signifying nothing.” We now have a reprieve for three months – the 11th hour deal, complete with payoffs and the usual corruption, will keep the world safe for more ineptitude, deficit spending, administrative hypocrisy and the guarantee of a sequel. All is well! Celebration! Champagne! Cut to a prime-time commercial promoting big government and Obamacare…

And back in the real world where people work and support their families, life goes on, few noticed the lack of government “services,” and in three months we will be blessed with another episode of our “Congressional Reality Show.”

Gold, Silver, and National Debt

Examine the following graph.… Continue on Richer Daddy

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China and gold

Tue, 22 Oct 2013 16:13:56 +0000

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Xinhua, China’s official press agency on Sunday ran an op-ed article which kicked off as follows:

“As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world.”

China does have a broad strategy to prepare for this event. She is encouraging the creation of an international market in her own currency through the twin centres of Hong Kong and London, side-lining New York, and she is actively promoting through the Shanghai Cooperation Organisation (SCO) non-dollar trade settlement across the whole of Asia.… Continue on Richer Daddy

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