Why Do Central Bank Counterfeiters Like Gold?

Danielle DiMartino Booth, Ivan Bebek and Michael Oliver are returning guests on this week’s program.

Monetary counterfeiting is theft. But by way of force, central bankers do the same thing legally to the detriment of workers who produce goods and services in earning spending power. During a period of economic growth not many care about Central Bank counterfeiting injustice. But when the music stops and sudden liquidity and insolvency prevail, retribution follows.

Beginning on page 209 of Danielle’s book “Fed Up” she explains how central bank Q.E. sets up liquidity traps that are impossible to exit, again demonstrated by the recent Powell pivot. With an inevitable liquidity crisis staring them in the face, are central bankers counting on another gold revaluation to bail them out as in 1932? We asked Danielle if that is why central bankers are building gold reserves. 

Ivan updates us on some very exciting developments for Auryn Resources in Peru and Michael provides his usual guidance on key markets. 

Danielle DiMartino Booth is the founder of Money Strong, LLC, an economic consulting firm.  She began her career in New York at Donaldson, Lufkin & Jenrette and Credit Suisse, where she worked fixed income and the public and private equity markets.  After working as a financial columnist at the Dallas Morning News, DiMartino Booth spent nine years as an adviser to Richard Fisher at the Federal Reserve Bank of Dallas. Ms. DiMartino Booth is also the author of FED UP: An Insider’s Take on Why The Federal Reserve is Bad For America, (Portfolio; 2/14/17) – where she criticizes the Fed for focusing too much on theoretical models and not enough on the actual economic situation in America.  She lives in Dallas with her family.

Ivan Bebek is Executive Chairman and Director of Auryn Resources. Mr. Bebek has over 18 years experience in financing, foreign negotiations, and acquisitions in the mineral exploration industry. His understanding of the capital markets and ability to position, structure and finance companies that he has been associated with has been instrumental in their successes. Mr. Bebek was formerly the President, CEO and cofounder of Cayden Resources Inc., which was sold to Agnico Eagle Mines Limited for $205 million in November 2014, and a co-founder of Keegan Resources Inc. (now Asanko Gold Inc.). Mr. Bebek is a cofounder, Co-Chairman and Director of Torq Resources Inc. (formerly, Stratton Resources Inc.) and serves on the advisory board of Gold Standard Ventures Corp.

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.