Extraordinary Popular Delusions & the Madness of Crowds

Kevin Duffy and Dr. Quinton Hennigh return as guests on this week’s program.

America is losing its First Amendment, the key to what made it a great nation. What has evolved is economic fascism. Large corporate monopolies & media collude with elite members of the Intelligence community to silence not only economic competition but competing ideas.  When everyone is thinking alike, no one is actually thinking. In truth, freedom of economic speech was curtailed to a great extent in 1971 when gold was detached from the international monetary system. That began the process of a slow but steady destruction of the free-market speech to determine the actual cost of capital.

Kevin helps us understand the connection between a loss of economic free speech and increasing financial market insanity evidenced by the recent GameStop debacle. Given the mess our economy and markets are in, we will ask Kevin how to navigate this very unstable world. Dr. Henning join me to update us on progress being made by Irving Resources, Novo Resources, Eskay Mining and Eloro Resources. 

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Kevin Duffy is principal of Bearing Asset Management which he co-founded in 2002. The firm manages the Bearing Core Fund, a contrarian, macro-themed hedge fund with a flexible mandate.

Bearing gained notoriety during the Great Financial Crisis by betting against stocks like New Century Financial, Fannie Mae, Bear Stearns and Lehman Brothers. Duffy wrote extensively on the housing and credit bubble identifying root causes of the bubble. A month later, he issued a warning in an op-ed for Barron’s titled “For Whom Do the Bells Toll.” The Bearing Credit Bubble Index was cited by Marc Faber in speeches and The Gloom, Boom & Doom Report.

Prior to Bearing, Duffy co-founded Lighthouse Capital Management and served as Director of Research from 1988 to 1999. He chronicled the excesses of the Japan and technology bubbles of the late 1980s and late 1990s respectively. The firm was later sold to Fisher Investments. Duffy also publishes a bi-monthly investment letter called The Coffee Can Portfolio.

Dr. Quinton Hennigh is an economic geologist with 25 years of exploration experience, mainly gold related.  Early in his career, he explored for major mining firms including Homestake Mining Company, Newcrest Mining Ltd and Newmont Mining Corporation.  Dr. Hennigh joined the junior mining sector in 2007 and has been involved with a number of Canadian listed gold companies including Gold Canyon Resources where he led exploration at the Springpole alkaline gold project near Red Lake Ontario, a 5 million ounce gold asset that was recently sold.  In 2010, Dr. Hennigh helped start Novo Resources and began assembling its Australian exploration portfolio. Dr. Hennigh obtained a Ph.D. in Geology/Geochemistry from the Colorado School of Mines.  Currently is also a Director for Cuya Silver Corp., Irving Resources, and Technical Advisor for Lion One Metals, Eskay Mining & others.

About Jay Taylor

Jay Taylor is editor of J Taylor's Gold, Energy & Tech Stocks newsletter. His interest in the role gold has played in U.S. monetary history led him to research gold and into analyzing and investing in junior gold shares. Currently he also hosts his own one-hour weekly radio show Turning Hard Times Into Good Times,” which features high profile guests who discuss leading economic issues of our day. The show also discusses investment opportunities primarily in the precious metals mining sector. He has been a guest on CNBC, Fox, Bloomberg and BNN and many mining conferences.