This compilation of financial-related insights includes videos from Kitco News, Tech Revolution, Stansberry Research, Steven Van Metre, and Liberty and Finance.
Maxime Boonen joins Kitco News to discuss the Fed’s next move and don’t let weak markets fool you. Tech Revolution shares news of America’s plot to counter China’s trillion dollar plan. Dan and Corey are joined by Joel Litman on Stansberry Research to discuss why US stocks are flashing code red. Steven Van Metre says liquidation risk threatens a banking system collapse. David Morgan joins Liberty and Finance to talk about why the US Dollar will end up in the dustbin of history.
Sep 25, 2023
In the wake of the recent Fed decision to leave rates unchanged, Kitco News reporter Matt Nesto sat down with Max Boonen, a former fixed-income trader for Goldman Sachs turned founder of blockchain bond shop PV01, to discuss why markets have been wrong on the economy, future rate increases and the impact they’re likely to have on housing and consumer confidence.
Sep 25, 2023
Let’s take a step back in time to September 7, 2013, when Chinese President Xi Jinping delivered a significant speech at Nazarbayev University in Astana, Kazakhstan. His speech was titled “Work Together to Build the Silk Road Economic Belt,” and it had a profound historical resonance.
In his address, President Xi evoked the rich history of the ancient Silk Road, tracing its origins back to a Chinese envoy in the 2nd century BC. The focus of this speech was primarily centered on China and Central Asia, with President Xi emphasizing the historical ties that bind these regions together.
At that time, President Xi’s original proposal was to create an economic belt along the Silk Road in collaboration with China’s Eurasian neighbors. This proposal, however, had both geographical and sectoral limitations. Geographically, it primarily encompassed the Central Asian region, and in terms of sectors, it had a relatively narrow focus.
President Xi identified four key areas for cooperation within the Silk Road Economic Belt: policy consultation, road connectivity, trade facilitation, and monetary circulation. Fast forward to today, and the Belt and Road Initiative has evolved into something much broader and more encompassing than its initial vision.
It has given rise to various subsets, each with its unique focus and objectives. These include the Digital Silk Road, the Polar Silk Road, the Health Silk Road, the Space Silk Road, and the Green Silk Road.
As we dive into the current landscape of the Belt and Road Initiative as of September 2023, it’s quite clear that this ambitious global endeavor has gained immense traction. With 154 member countries, it has managed to secure participation from a whopping 80 percent of the United Nations’ 193 member states. It’s almost easier to list who’s not part of the BRI at this point.
The outliers on the world map are rather conspicuous. North America remains notably absent, comprising all of North America. Similarly, a significant portion of Western Europe has chosen not to participate, along with a substantial part of South America.
Delving deeper into the specifics, the United States and its fellow Quad members – Australia, Japan, and India – have opted to stay out of the initiative. Each of these countries harbors concerns about China’s global ambitions, leading them to maintain their independence from this initiative.
In the Middle East, Jordan and Israel, both close U.S. allies, stand as the solitary holdouts in the region. Additionally, 15 countries have not established diplomatic ties with China. These include Taiwan’s 13 remaining diplomatic allies, as well as Bhutan and Kosovo.
One intriguing omission is North Korea, despite its ostensibly close partnership with China. North Korea could greatly benefit from the additional funding that comes with BRI membership, but China might see this as a risky proposition due to North Korea’s nuclear ambitions and heavily sanctioned status.
Iran, another member, faces similar nuclear proliferation risks but occupies a strategic geographic position linking Central Asia and the Middle East. Now, let’s explore the regional perspective.
The Belt and Road Initiative has witnessed contrasting levels of participation across different regions of the world. Central Asia and Southeast Asia have emerged as strong supporters of the BRI, with every country in these regions becoming members of the initiative.
This substantial buy-in underscores the significance of the BRI in facilitating economic development, infrastructure connectivity, and cooperation within these regions. Conversely, North America stands out as the sole region where no state has chosen to join the Belt and Road Initiative.
This region, which includes countries like the United States, Canada, and Mexico, has opted not to participate in this ambitious global initiative. The reasons behind North America’s non-participation may include a combination of political considerations, alternative economic priorities, and differing strategic interests.
These divergent regional responses highlight the complex and varied dynamics surrounding the BRI on the global stage. While some regions fully embrace the initiative as a means of enhancing economic growth and connectivity, others have chosen to remain outside its framework, pursuing alternative paths to development and cooperation.
Turning to income levels, a noticeable trend emerges. Wealthier countries, categorized as high-income, are less likely to join. With less than half or 46 percent having signed up.
Sep 25, 2023
On this week’s Stansberry Investor Hour, Dan and Corey are joined by Joel Litman, the founder of our corporate affiliate Altimetry. But first, Dan and Corey kick off the podcast by discussing the latest Federal Reserve meeting, a recent study about what happens to stock price when artificial intelligence (“AI”) gives answers at earnings calls instead of humans, and the emergence of a robot CEO for a rum company. (00:00)
Next, Joel joins the conversation and gives the reasons for his growing bearish sentiment. He points out some significant red flags that have caught his and his fellow analysts’ attention, including the historical pattern of a credit crisis preceding every major bear market. Joel explains that the current sentiment and valuation trends are heading in the wrong direction. (16:42)
Joel then moves on to the impact of high interest rates on the market. He explains that he and the folks at Altimetry employ “Uniform Accounting” principles, meaning they do not use the same price-to-earnings multiples as Bloomberg or CNBC. Instead, they perform their own calculations. Joel argues that, to control inflation, interest rates need to be maintained at a level higher than what Fed Chair Jerome Powell seems to favor. (20:56)
Finally, Joel discusses U.S. stocks being overallocated in investors’ portfolios today and why this serves as a concerning indicator of market conditions. Plus, looking globally, he details why he finds Chinese and Russian stocks unattractive for investment. (37:36)
Steven Van Metre
Sep 25, 2023
Liquidation Risk Threatens Banking System Collapse
Liberty and Finance
Premiered Sep 25, 2023
The Dollar will go into the “dustbin of history” once the Fed reverses, says David Morgan of The Morgan Report. The Fed paused hiking rates last week but is still talking hawkishly. Morgan doesn’t expect the Fed to ease anytime soon, but when they do, he forecasts that metals will shoot higher.
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