Return of the Bond Vigilantes. What does it mean for the Markets?

John Rubino, Michael Oliver and Eric Coffin return as guests on this week’s radio program.

With the national debt now at over $20 trillion and exploding higher under Trump, we know David Stockman’s warnings that supply side economics can’t generate sufficient income to overcome deficit spending are true. Host Jay Taylor will interview Stockman this weekend at www.JayTaylorMedia.com regarding massive debt and what that will mean for major markets.

In order to pay for our past sins, interest rates must rise dramatically higher. In this episode John Rubino discusses how the Bond Vigilantes are enforcing a reconciliation of political myth with economic reality and what this means for stocks, bonds, commodities and precious metals. The impact of rising interest rates on the markets is the major topic of discussion with all three guests. Eric also discusses some of his most exciting gold exploration stocks and Michael shares his thoughts about the bond market acting as a Judas Goat.

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John Rubino runs the popular financial website DollarCollapse.com. 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 TheStreet.com and a frequent contributor to Individual Investor, Online Investor, and Consumers Digest, among many other publications. He currently writes for CFA Magazine.

Eric Coffin is the editor of the HRA (Hard Rock Analyst) family of publications. Responsible for the “financial analysis” side of HRA, Coffin has a degree in corporate and investment finance. He has extensive experience in merger and acquisitions and small-company financing and promotion. For many years, he tracked the financial performance and funding of all exchange-listed Canadian mining companies and has helped with the formation of several successful exploration ventures. Coffin was one of the first analysts to point out the disastrous effects of gold hedging and gold loan-capital financing in 1997. He also predicted the start of the current secular bull market in commodities based on the movement of the U.S. dollar in 2001 and the acceleration of growth in Asia and India. Coffin can be reached at hra@publishers-mgmt.com or the website www.hraadvisory.com.

For the last several years Mike has spent his time in Nevada where he was part of a team that advanced a gold project through permitting and a positive pre-feasibility study. Mr. Allen holds a Bachelor of Science degree in geology from the University of Alberta.

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.