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This compilation of financial-related insights includes videos from WTFinance, Palisades Gold Radio, Tech Revolution, and Wall Street Silver.
Marc Faber joins WTFinance to discuss how we’re already in a recession despite strong liquidity. David Jensen, owner of Jensen Strategic and a Mining Executive and Metals Analyst joins Tom on Palisades Gold Radio to talk about Jamie Dimon acting fearful on what the markets have to bring. Tech Revolution shares news of the US losing it all to China as Saudi Arabia and the Middle East pull away. Peter St Onge on Wall Street Silver talks about Trump beating Biden on the economy front.
WTFinance
Nov 8, 2023
Interview recorded – 7th of November, 2023
On this episode of the WTFinance podcast I have the pleasure of welcoming back Marc Faber for a third time. Marc is a well known contrarian investor & the Editor and Publisher of the “Gloom, Boom & Doom Report”.
During our conversation we spoke about whether Marc still believe there will be a bear market, shift to short duration assets, how the FED is loosening monetary policy, what central bankers should be doing, regions that Marc is interested in & how to invest in emerging markets. I hope you enjoy!
Palisades Gold Radio
Nov 8, 2023
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Tom welcomes back David Jensen. David is the owner of Jensen Strategic and a Mining Executive and Metals Analyst. David provides Palisades with a comprehensive presentation on the state of the economy.
David discusses Jamie Dimon’s recent concerns regarding an economic downturn driven by persistent goods price inflation and the Federal Reserve’s liquidity reduction efforts. Jensen, blocked from Twitter and LinkedIn, now shares his insights on Substack. Dimon appears uncertain regarding the economy, as exemplified by his large stock sale and comments on keeping money in JP Morgan. They also review the Fed’s limited control over long-term interest rates, despite its influence on the overnight rate and ongoing bond purchases.
Interest rates may rise to 7%, possibly due to the weight of the national debt, while other financial experts anticipate even higher rates. David examines historical patterns where an increase in the M2 money supply leads to inflation, drawing parallels to the 1970s.
The discussion also touches on London’s 1987 control over the gold and silver markets, the effects of inflation through increased currency supply, and the contrasting expressions of suppressed inflation data and actual economic conditions.
Jensen highlights the dangerous level of dependency the economy has on credit, with a total debt of $96 trillion. An interest rate shock could impose a staggering interest burden, challenging the solvency of banks.
The conversation also covers the correlation between bonds and stocks, revealing a shift from financial instruments to tangible assets like precious metals due to the erosion of currency value. The yen carry trade, a financial strategy involving borrowing at low Japanese interest rates and investing in higher-yielding U.S. markets, is also discussed. As interest rates have risen, this trade has become less profitable, threatening the financial stability of funds involved.
Wrapping up, Jensen emphasizes the significance of real assets, such as gold and silver, as a unit of fair measure, especially as public awareness of the Bank of England’s promissory note trading system grows. He notes the increasing lease rates for gold as a sign of market stress and concludes with a metaphor pointing to the urgency of navigating the impending economic challenges.
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Tech Revolution
Nov 8, 2023
The Gulf States have made a striking move towards China, creating ripples across the international stage. A move that challenges existing norms and may redefine global economics. Jassim Mohammed Al-Budaiwi, the Secretary General of the Cooperation Council for the Arab States of the Gulf, emphasized the importance of the ongoing negotiations for a free trade agreement between the Gulf nations and China.
He believes this agreement can play a pivotal role in deepening ties, particularly in economic and investment areas, boosting trade benefits for both parties. China’s Commerce Minister, Wang Wentao, expressed keen interest in enhancing collaboration in the oil, gas, and new energy sectors, like power batteries and intelligent charging systems.
This was discussed during a meeting with officials from the Gulf Cooperation Council in Guangzhou, China. The Ministry highlighted the importance of these collaborations for ensuring stable and efficient industrial and supply chains.
In related news, the Hong Kong Stock Exchange CEO, Nicolas Aguzin, has shared insights on future investments from the Middle East. By the year 2030, it’s expected that the leading sovereign wealth funds from the Middle East will channel a staggering $1-2 trillion into China. This significant move is part of a strategic realignment towards Asia, spurred on by the swift growth in the investment capabilities of these funds.
The Gulf Cooperation Council, encompassing Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, currently boasts an impressive investment capital pool of around $4 trillion. Interestingly, only a small fraction of this, about 1-2%, is currently invested in Asian markets, with China being a key focus.
Aguzin, who brings experience from his tenure at JP Morgan, foresees a considerable increase in the GCC’s investment capital, projecting it to reach around $10 trillion by the end of this decade.
He predicts that a significant chunk of this wealth – approximately 10-20% – will find its way into China, amounting to an investment ranging from $1 trillion to $2 trillion in the burgeoning Asian economy.
This projection is rooted in a broader context. The GCC nations, rich in oil and gas reserves, have traditionally been key players in the global energy market. However, in recent years, there’s been a conscious push within these countries to diversify their economies and reduce their reliance on oil. This strategic pivot towards investment in foreign markets, especially in a rapidly growing economy like China’s, is a part of this diversification effort.
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China, with its expansive market, burgeoning tech sector, and substantial infrastructural projects, presents an attractive destination for these investments.
Moreover, this shift is not just about financial gain. It reflects a deeper geopolitical realignment, as the GCC nations navigate a complex global environment marked by changing alliances and economic dynamics.
Investing in China, therefore, is seen not only as a financial strategy but also as a move to forge stronger political and economic ties with a major global power. This development promises to have far-reaching implications. For China, the influx of Gulf capital could mean accelerated development and an enhanced role in the global economic arena.
For the GCC countries, it represents an opportunity to shape a more diversified, resilient, and dynamic economic future. Sovereign funds, holding substantial stakes in various global publicly listed companies, are increasingly focusing on the broader Asia region, particularly China. This interest is fueled by China’s economic growth, which continues to surpass global averages.
China is also known for its large investment capital pool, consisting of both retail and institutional savings growing at a rapid pace. While this capital has primarily focused on China’s domestic market, a change is on the horizon.
With China being a major trading partner for around 140 economies worldwide, it’s expected that Chinese investment will begin moving beyond its borders, benefiting both eastern and western markets. This shift, Aguzin points out, will positively impact trade in the Middle East.
He predicts a significant increase in Chinese capital moving internationally, marking a new chapter in global investment trends. There have been notable activities in investments from the Gulf Cooperation Council (GCC) countries into China.
Wall Street Silver
Nov 8, 2023
In this video, Peter discusses a recent NY Times poll that shows Trump ahead of Biden in key swing states, citing economic challenges as a major factor for voters. Peter delves into the implications of ‘Bidenomics,’ voter priorities like inflation and taxes, and the rising preference for Trump’s economic handling.
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