Hi everyone. I recently recorded a new interview with Future Money Trends and it was just released! In it we discuss a whole host of issues from the horrific performance of the junior precious metals miners, to the oil and natural gas markets, to the emergence of the Liberty Movement in the United States and of course my new blog and why I started it. Dan did a great job as always and I hope you take the time to check it out below.
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Great interview Mike.
Nice suit for a hippie ! Can you interview erik king and stick my shares of Rob McScammin
MUX up his glory hole ?
Mike:
I love your positive attitude. Given the facts below however, how are we not in for an oil shock that will make the 1970s look like a walk in the park?
2008 was Peak Oil’s shot across the bow but nobody heard it. The 2008 rate of production, despite the price tripling, could not exceed the 2005. Gasoline deliveries are down 40% from 2009, yet the price has more than doubled. At a certain point oil consumption cannot be decreased any further which will cause demand destruction in other areas. This will lead to more printing. At some point this negative feedback loop will put us well within the event horizon of at least runaway inflation if not hyperinflation.
You mentioned an interesting scenario that may result. They walk up to the edge of hyperinflation and then pull the plug. I have thought about this before, but I do not see how they pull it off. A deflationary collapse would not play out like the 1930s:
—The US was not financing a Naval Empire.
—Did not have the reserve currency
—Was a creditor country.
—Was on the gold standard.
—and perhaps the most important point: no OTC derivatives.
I don’t see how the USD would strengthen in such a scenario. It would be rejected in the chaos. All the inflation-exporting scams run out of the ESF would collapse. The derivative market would collapse. Dollars would come flooding back into the country.The only deflationary-collapse scenario I can imagine is the introduction of a new currency. Of course as we saw in the 2008 deflation scare, (physical) gold and silver demand was hand-over-fist.
Of course this may be all academic. The most important collapse people ought to be talking about is Fukushima’s Reactor 4. The silence on Fukushima is deafening.
http://enenews.com/doomsday-like-radiation-release-if-fukushima-no-4-catches-fire-it-would-be-a-global-catastrophe-it-already-has-been-but-it-would-dwarf-whats-already-happened-nuclear-waste-expert
Thanks for all you do, Mike. You’re a very sincere guy.