This compilation of financial-related insights includes videos from Palisades Gold Radio, Lena Petrova, ITM Trading, and Liberty and Finance.
Steve Hanke Professor of Applied Economics at Johns Hopkins University joins Tom on Palisades Gold Radio to discuss if dollarization is a necessary move for Argentina. Lena Petrova talks about the $33.7 trillion American debt and who owns it. Todd “Bubba” Horwitz joins Daniela Cambone on ITM Trading to discuss Argentina Milei’s decision to shut down their central bank and the possibility of it sparking a global revolution. Market trader Gregory Mannarino joins Liberty and Finance to talk about liquidity drying up and says a meltdown is ahead.
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Palisades Gold Radio
Nov 27, 2023
Tom welcomes back Steve Hanke Professor of Applied Economics – Johns Hopkins University.
In this discussion, Professor Steve Hanke emphasizes the potential benefits of dollarization for Argentina’s economy. He references the country’s history of economic instability, multiple currency and banking crises, and high inflation rates. Hanke suggests that dollarization, similar to the strategies implemented in Ecuador and El Salvador, could lead to a significant reduction in inflation and increase access to long-term credit. He also highlights the success of dollarization in countries like Panama and Hong Kong.
Hanke argues that dollarization would align Argentina more closely with the United States, making its currency more secure and convertible. He points out that the stability brought by dollarization would create greater opportunities for the demand of Argentinian goods, particularly in the agricultural sector. He also states that dollarization simplifies borrowing and stabilizes foreign exchange, which benefits the circulation of the US dollar.
He dismisses the idea of using gold or Bitcoin as unnecessary especially with a population already highly reliant on U.S. Dollar Notes.
Hanke also addresses the political challenges of dollarization, mentioning that the concept may face opposition from the political class who would lose the ability to borrow money from a central bank. Additionally, he highlights the disproportionate impact of the inflation tax on lower-income individuals, underscoring the importance of maintaining a strong budget.
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Lena Petrova, CPA – Finance, Economics & Tax
Nov 27, 2023
$33.7 TRILLION in Debt: Who Owns American Debt? U.S. National Debt Explained
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ITM TRADING, INC.
Nov 27, 2023
The Outlook Gold prices are predicted to rally in 2024 according to a recent note by Goldman Sachs. Consumers turn a blind eye to bills, budgets and their bank accounts during this year’s epic shopping spree. But how long can this debt-fueled buying bonanza last? Watch this discussion with Todd “Bubba” Horwitz and Daniela Cambone.
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Liberty and Finance
Premiered Nov 27, 2023
The financial system must continue to expand exponentially to survive, says market trader Gregory Mannarino. But liquidity is drying up, he notes, pointing to the recent banking crisis. He joins us to discuss the draining of funds from the banking system and why further bank failures are likely.
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