Markets to Own with “Outside Money” Trumping “Inside Money”

John Rubino and Michael Oliver return as our guests this week and Nicholas Rodway, the CEO of Core Assets Corp., visits for the first time.

After 1971 when President Nixon detached gold from the global monetary system, the U.S. dollar became the uncontested world’s reserve currency. The U.S. has abused that privilege by using its dishonest source of funding to expand its empire. In the process, America consumed more than it produced running up huge amounts of debt both to its own citizens and to foreigners. That has greatly injured America’s productive capacity leaving it now vulnerable to would be predators like Russia and China.

While the U.S. uses it military to project power, it seems to ignore its financial vulnerability. But recognizing that the U.S. produces little of what the rest of the world needs, Russia with China’s backing chose to play financial hardball with the West when it began to demand from Europe payment for its life-sustaining natural gas in the form of gold or Russian Rubles.

While Americans seem to be ignorant of our financial vulnerability, this new move by America’s adversaries threatens to force our “inside money” (U.S. dollar created out of thin air) to submit to Russia’s “outside money.” “Outside money” is defined as money backed by life-sustaining commodities starting with energy. This threatens the dollar’s reserve currency status and will turn markets as we know them upside down. We asked John and Michael for their views on how this major change will impact markets and how they think investors should respond. Nicholas Rodway visits for the first time to introduce a new sponsor company to the show, namely Core Assets Corp., a company that is exploring for gold, silver, and base metals in a carbonate-replacement style of mineralization in British Columbia. The targets are enormous and the company has a very strong technical team. Management owns 36%, with Crescat Capital also as a major investor.

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John Rubino runs the popular financial website He is co-author, with GoldMoney’s James Turk, of The Money Bubble: What To Do Before It Pops, and author of Clean Money: Picking Winners in the Green-Tech Boom (Wiley, 2008), The Collapse of the Dollar (also with James Turk), How to Profit from the Coming Real Estate Bust (Rodale, 2003) and Main Street, Not Wall Street(Morrow, 1998). After earning a Finance MBA from New York University, he spent the 1980s on Wall Street, as a Eurodollar trader, equity analyst and junk bond analyst. During the 1990s he was a featured columnist with and a frequent contributor to Individual Investor, Online Investor, and Consumers Digest, among many other publications.

Nicholas Rodway holds a Bachelor of Science Degree in geology from Memorial University of Newfoundland, a Masters Degree in Exploration and Mining Leadership from Queens University, and is a member of the Association of Engineers and Geoscientists of British Columbia.  He has worked intensively with publicly-traded companies for the past ten years, where he has played strategic roles in company building, financing, investor communications, property acquisitions, and project management. Most recently Mr. Rodway served as Founder and President of Exploits Gold Corp., a private company based in Vancouver that was purchased in mid 2020 by Exploits Discovery Corp., a publicly traded company listed on the Canadian Securities Exchange. Nick is still very involved with Exploits and sits on Exploits’ Advisory Board. Nick was also one of the founders of Core Assets Corp. and has been a director since December 2019. Mr. Rodway also serves as a director of Saville Resources Inc. and Rain City Resources.

Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton’s International Commodity Division, NYC. He studied under David Johnson, head of Hutton’s Commodity Division and Chairman of the COMEX.

In the 1980’s Oliver began to develop his own momentum-based method of technical analysis. In 1987 Oliver, along with his futures client accounts (Oliver had trading POA) technically anticipated and captured the Crash. Oliver began to realize that his emergent momentum-structural-based tools should be further developed into a full analytic methodology.

In 1992 he was asked by the Financial VP and head of Wachovia Bank’s Trust Department to provide soft dollar research to Wachovia. Within a year Oliver shifted from brokerage to full-time technical research. MSA has provided its proprietary technical research services to financial and asset management clients continually since 1992. Oliver is the author of The New Libertarianism: Anarcho-Capitalism. 

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.