The Economic Consequences of Our Military Industrial Complex

Daniel McAdams, Jeff Deist and Michael Oliver are returning guests on the radio program.

Americans hear a constant drumbeat of fear over “rogue” nations and how we must spend more for military “defense.” But why is America worried about Russia when that country is surrounded by NATO and the U.S. has “Intel” in like 126 countries to force countries to continue using dollars for trade? How is it “defense” to use our navy to restrict China from using its own sea lanes for trade? Now a trend is in place to substitute the Yuan for dollars in international trade. What happens to key markets when the dollar is no longer the world’s reserve currency?

Jeff and Daniel opine on America’s self-destructive military industrial complex, which is actually leading to the dollar’s demise and a bull market in gold, silver and other commodities measured in dollars. Jay gives updates on sponsors and shares thoughts from his recent Metals Investor Forum speech, “A Year of Epic Market Disruptions?” Michael provides his usual savvy remarks on key markets.

Daniel McAdams is Executive Director of the Ron Paul Institute for Peace and Prosperity. He served as foreign affairs advisor to US Congressman Ron Paul (R-Texas) from 2001 until Dr. Paul’s retirement at the end of 2012. In the 1990s he worked as a journalist based in Budapest, Hungary, including as editorial page editor of the Budapest Sun. He also served as special rapporteur for the British Helsinki Human Rights Group while based in Europe, monitoring human rights and elections on the ground in various contentious states, including Albania during the 1996-1998 civil unrest, Montenegro, Georgia, Armenia, Belarus, Croatia, and Slovakia. He was a Phillips Foundation Journalism Fellow (1998-2000) and an American Swiss Foundation “Young Leader” (2006). He holds a BA in English from the University of California at Berkeley and completed coursework for a Master’s in international relations.

Jeff Deist is president of the Mises Institute, an educational organization dedicated to promoting Austrian economics, freedom, and peace.  Jeff previously worked as a longtime advisor and Chief of Staff to Congressman Ron Paul.  Jeff is also a tax attorney, having represented high net worth individuals, partnerships, and corporations in a wide variety of tax matters.  His tax career includes time at two different Big 4 accounting firms, specializing in tax issues arising from mergers and acquisitions for private equity firms.

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.