The palladium spot price again hit fresh all-time record price highs eclipsing the $1,600 oz mark on a number days this week. The platinum spot price remains floundering around the $850 range to close the week.
Check out this recent SD Bullion blog on which is a better long term value for bullion buyers: SILVER vs PLATINUM.
Much of this week's small precious metals related price rally could be attributed to the fact that the private Federal Reserve announced this past Wednesday that they will not be executing any more interest rate hikes for the remainder of the year.
This announcement comes only 3 months after the Federal Reserve's spokes folks said two rate hikes would be appropriate for 2019.
Perhaps within all our lifetimes, we will never again see real interest rates above true price inflation. That being said, precious metals tend to perform well in negative real interest rate environments (e.g. gold vs interest rates).
News today, it appears President Trump is now moving to appoint conservative commentator Steven Moore to a vacant Federal Reserve governor position.
Welcome to this week's Metals & Wrap I am your host James Anderson of SD Bullion.
With us this week, first time guest to the podcast, Mr. Bob Moriarty, author of a recently published book called, "Basic Investing in Resource Stocks: The Idiot's Guide".
Bob, thanks for coming on the show.
In your most recently published book, you make a pretty a bold statement by saying we are starting the most significant financial collapse in all of world history. So you are saying that this is the most significant collapse we have ever seen, and also it is starting right now. Can give our listeners a bit more detail?
What are some of the current events that lead you to believe we are in the crash right now?
What would restoring economic sanity look like to Bob Moriarty?
Many Federal Reserve and Federal Government apologists often point to the fact that critics of the growing US National debt have been around well before the late 1960s.
Why do you think the growing national debt is a pressing issue right now instead of one which could continue to be put off for another coming decade or two?
You do often talk about gold in your most recent book, but of course, you just said your not a goldbug (i.e. silly derogatory paper-bug term).
Yet throughout history gold has been a good way to protect one's wealth through uncertain economic downturns. It seems you favor a current investment tactic to preserve what you have as opposed to speculating for capital gains or profits.
So how might people better prepare for what's coming?
Now when people talk about precious metals investing, there are the obvious two monetary precious metals Silver and Gold, but there are also Palladium and Platinum. Which do you think might be best in uncertain times?
Which of the four precious metals are cheapest currently?
Well if we look at the gold-silver ratio, we are in the mid-80s which is on the higher side in historic terms.
And you talk about this in your book of course, but also platinum has not been this cheap versus gold for over the last 110 years.
You talk in your book about how some 85 to 95% of investors really get it wrong and don't invest well, why do you think this is so?
You also write in your book how it's really important not to listen to "experts", why do you make that argument?
Now when we look at precious metal investment options, there is obviously physical bullion people and buy and take direct ownership of, there's also more speculative bets people can make in precious metal miners and streaming companies.
What do think are the pros and cons of the two options?
When it comes to buying insurance (bullion) versus speculation (mining and streaming companies), would you consider mining stocks and so forth being on the speculative spectrum?
^ Financial Conditioning Real Time: March 2008 - March 2019 ^
A bullion buyer years before the 2008 Global Financial Crisis, James Anderson is a grounded precious metals researcher, content creator, and physical investment grade bullion professional. He has authored several Gold & Silver Guides and has been featured on the History Channel, Zero Hedge, Gold-Eagle, Silver Seek, Value Walk and many more. You can pick up Jame's most recent, comprehensive 200+ Page book here at SD Bullion.
Given that repressed commodity values are now near 100-year low level valuations versus large US stocks, James remains convinced investors and savers should buy and maintain a prudent physical bullion position now, before more unfunded promises debase away in the coming decades.