Dr. Stephen Leeb told King World News there is an 80-90% chance of this happening in the gold market.
The post Stephen Leeb – There Is An 80-90% Of This Happening In The Gold Market appeared first on King World News.
Dr. Stephen Leeb: Chairman & Chief Investment Officer of Leeb Capital Management - Dr. Leeb is a registered investment adviser and has been managing big cap growth portfolios since 1999. Over the last decade, his independently-verified performance record has been ranked in the top 5 percent among peers according to Informa’s PSN manager database. Dr. Leeb is a New York Time’s Best Selling author….
The post Dr. Stephen Leeb: Broadcast Interview – Available Now appeared first on King World News.
Dr. Stephen Leeb: Chairman & Chief Investment Officer of Leeb Capital Management - Dr. Leeb is a registered investment adviser and has been managing big cap growth portfolios since 1999. Over the last decade, his independently-verified performance record has been ranked in the top 5 percent among peers according to Informa’s PSN manager database. Dr. Leeb is a New York Time’s Best Selling author…
The post Dr. Stephen Leeb appeared first on King World News.
The 6-year breakout in the price of gold has turned into one hell of a war as the bullion banks and commercial hedgers have ramped up short positions into gold's historic break above the $1,400 level.
The post Bullion Banks And Commercials Ramp Up Short Positions In Gold & Silver appeared first on King World News.
If you have not yet read Part 1: Extreme Frugality, available free to all readers, please click here to read it first.What if it were possible to uncouple from the 'rat race’ and thereby regain a big portion of your time to use as you please? I assume everyone would find that desirable. Time would open up for one to volunteer, travel, get in shape, meditate, sleep or do whatever you desire. There’s a well-established movement underway the goes by the acronym FIRE, which stands for Financial Independence Retire Early. It’s not for everybody, and has a ton of pros and cons, and I’m not advocating that anybody blindly adopt FIRE as their framework, although some of you may already pursue it and that's fine. I am saying that the movement has put a lot of thoughtful time into managing the income and expense parts of life and it has a lot of very practical advice to follow if one wishes. My role is to set the stage. I’ve spent a huge amount of time reading blogs, finding resources, and condensing the learnings to save you time. And what I've learned is...
The post Live Frugally, Retire Comfortably appeared first on Peak Prosperity.
We didn’t have a lot growing up, as my mom had to single-parent three kids. Most anything I wanted required disciplined frugality.
I bought my first fly rod from Orvis at the age of 13, which took the better part of a year to save up for. I hand-tied the first flies drifted from its lines from the hackles of roosters I raised expressly for that purpose.
In my later teens, I took a long cross-country climbing/working road trip where I lived on $5/week (1980s). Doing so was an art form involving dried beans and camping for free on federal lands, including the time I woke up to a large bull pawing and snorting a few yards from my tent. I knew nothing about the behavior of bulls, and still don’t; but I knew that wasn’t a good sign and so I backed away using the tent as a shield and climbed a tree.
Sleeping on the ground, or on sofas doesn’t bother me. I am a remarkably un-picky eater. I’m just easy that way.
All of which is to say that being frugal and ‘making do’ with what’s on hand comes naturally to me. Don’t get me wrong, I can enjoy spending money, and have indulged in some expensive hobbies in my life. But I can also zipper the wallet and not skip a beat.
I’m glad I can, because being frugal is an extremely valuable skill to employ as we get ready for a future of ‘less’.
Sometime, much sooner than we’ll be ready for, the systems upon which we rely will fail us.
The weather system is already becoming intolerably wonky. Heat in Europe, crop-ruining rains in the US farm belt, and unprecedented heat in the arctic are all telling us that something is terribly amiss.
In fact, at this moment on an 80-degree late June night, in New England, I’m typing next to an open window, no screen, the room lights on, and there are exactly zero insects flying about the room. Not a single one. I’m old enough to remember the swarms of beetles, moths, mosquitos, and other bugs that such a night would have brought. That they aren’t here tonight is extremely unsettling to me.
Anyone who can read or access the internet and has at least minimal curiosity can detect the signs of the deep stress all around us — in our environment, in our society, and in our economy.
It’s critical to realize that everything in the financial sphere — from the lofty prices of stocks and bonds to the fiscal solvency of nations — depends on the future economy being exponentially larger than it is currently. But this expectation is flawed; you can’t extract ever-increasing exponential growth from a finite system.
A ‘credit recession’ almost destroyed the global economy last time (2008). Yet now there’s an even larger one primed and ready to burst.
But you’d never know that by watching the nightly news or reading the major media outlets. Because the more dangerously-lopsided things become, the more urgently the entire interlocking system of narrative control works to convince the masses that everything is fine.
But curious critical thinkers like you and I know that’s not true.
Our knowing is in the ecological data, which is horrifying. Plastic pollution now virtually everywhere, vanishing insect and amphibian populations, steadily declining phytoplankton levels, weather anomalies shattering records across the globe, food chain disruptions in the oceans leading to massive bird and whale die-offs, and coral reefs disappearing with frightening speed.
It is in the cultural and sociological data, which show that the epidemic of obesity continues to worsen, suicide rates are hitting record high levels, multiplying increasing feelings of isolation, and record levels of being miserable and unhappy around the globe.
It’s in the economic data, which shows the widest wealth and income gaps in history, 62% of millennials struggling from paycheck to paycheck, desperate central banks able only to conceive of ever-more stimulus (easing) efforts, massive and rapidly growing debt piles, the misery of households that do not have any emergency buffers to draw upon, and in the US alone, over $200 trillion of underfunded pension and Medicare promises that can’t ever be met.
Even if we could set all of the above aside (and we cannot), a looming net energy crisis tells us that the future will be terribly different from the past. Most people are unaware — falsely lulled by the recent US shale ponzi — that oil production will indeed peak and then decline. Or that total net energy output from fossil fuel is already falling steadily now that all the easy oil and gas are gone.
Our economic and population arrangements were made back when huge 100:1 net energy returns from fossil fuel were routine. Comprehensive planning and mitigation strategies have to be made right away if we are to transition to the lower ~5:1 returns offered by shale oil and solar.
Forty to sixty years are required to effect a smooth energy transition. Meanwhile it looks like oil output may well peak in the US around 2025 (a lot depends on easy credit and a high price for oil), has already peaked and gone down in 18 countries since 2005, and the world remains heavily dependent on the output from a small handful of ageing super-giant oil fields discovered and put into service more than 50 years ago.
In other words, we don’t have 40 to 60 years. We may only have ten. Yet no urgency can be detected in the official policies of the world’s major nations.
Industrially-farmed soils are going to be completely exhausted within 40-60 years, requiring ever larger fossil energy inputs to keep them transiently supplied with nutrients.
Add all that up and what do you have? A very strong case for a very uncertain future.
My interpretation is these are the warning signs of a global culture that has grown past its natural carrying capacity and has yet to face that reality.
Which is why the sociological data tells me that people are very worried, even if they cannot exactly explain why.
Given all that, everybody wants to know: What should I do?
It turns out there’s one fairly robust response that any individual can employ that will help address the developing predicaments identified above: Extreme frugality.
Don’t have much money? Then spend less.
Have money and want to protect it? Also, spend less.
Want to protect the natural world? Then consume less.
Want to be happier? Then spend less and gain more free time.
Worried about money? Then spend less, save more, and have more.
Want to resist corporations’ endless grabbing of your money? Then be frugal.
Want to retire earlier? Spend less and save more.
The answer to many of the challenges we face are directly addressed by spending less and consuming less.
Taking a cue from an old Saturday Night Live skit with Steve Martin, if you cannot afford it, don’t buy it!
There’s a lot to be said for frugality and especially extreme frugality. By cutting out all unnecessary expenses, you align your concerns with your actions. It helps you regain control over your financial life, especially if you are on (or over!) the edge. Statistically speaking, that’s most people out there.
This won’t work for everybody; some people just don’t have the psychological make-up to be frugal. They’re too addicted to the instant gratification, “buy now, pay later” consumerism that corporate retailers and credit card companies do their best to hook us on.
But the concept of extreme frugality doesn’t frighten me. Or seem like deprivation. It just fits with who I am. I’m perfectly happy scoring a used, dented item at a tag sale or on freecycle.org as long as it suits my needs.
And it shouldn’t frighten you. Frugality is one of the fastest paths towards relieving the ever-present money worries that plague most of us. It’s a freeing act.
The less money we require, the less control money has over us — how we spend our time and our level of happiness.
I’m not saying we all have to become ascetics and embrace a life of poverty. What I am saying is that frugality helps re-center our priorities away from the superficial and material and towards true substance — fulfilling relationships, meaningful activity, our connection to nature.
Henry David Thoreau captured the gestalt of extreme frugality well when he penned:
And as we as individuals reduce our level of consumerism, collectively, we reduce the demand our economy places on our strained ecosystems.
Given all that’s at stake, seems like we should be willing to give this a try.
Looks, the world is changing rapidly, and nobody knows how long the current good times will last. And we’re well overdue for some kind of clearing event — the next recession, more record-breaking weather, a debt crisis, an implosion of the current credit cycle. The list of candidates is long.
At Peak Prosperity we’ve been staunch advocates of keeping your money safe, building multiple streams of income, and being as thoughtful as possible in your financial affairs.
Given the extreme state of the world, and given that tighter times almost certainly lie before us, it only makes sense to explore and adopt as many sensible frugality measures as we can, while we can still do them on our own terms.
One of the great killers of the last big bust in 2008 for many people was their too-slow dialing back of expenses. They lost their jobs but kept up the same level of spending. Kids stayed in private schools, eating out continued, and every subscription and cell phone plan remained in place. When the unemployment rate kept rising, and the savings were finally gone, many families experienced the deep trauma of sudden, forcibly-imposed austerity — which was not fun. Not fun at all.
Learning the skills and habits of being frugal will be important for the future of “less” that’s coming. Indeed, as wide-scale layoffs are starting to happen again, for many it’s already arriving.
Those looking to kick-start a more frugal lifestyle can begin with these straightforward steps:
But if you already have a good handle on these (as many Peak Prosperity readers do), there’s an exploding global community focused on extreme frugality to plug in to.
In Part 2: Live Frugally, Retire Comfortably we look at the major strategies recommended by the leading resources in this community for reducing your ‘money footprint’ and advancing the date when you achieve financial independence.
There are many levers to pull, on both the both the income and expenses sides of the ledger. Your task is to determine which are best for you.
But the key here is to do the math and then take informed action. Your future resilient self depends on it.
Click here to read Part 2 of this report (free executive summary, enrollment required for full access).
The post Extreme Frugality appeared first on Peak Prosperity.
from Financial Survival Network
Lior Gantz notes that gold has had its best run in many years. Bitcoin, after over a year in the dumps has come roaring back to life. And according to Lior Gantz, this is only the beginning. Things are rapidly turning down and the geo-political scene has never been scarier. There aren’t many places for the middle-class to put their wealth and gold/bitcoin is one of the last. Of course everything has risk, but so-called safe conservative investments are about to get much riskier and most people are totally unprepared.
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As we come to the end of a wild week of trading, today Dr. Stephen Leeb told King World News here is how gold will trade on Monday and in the coming weeks before it eventually hits $10,000.
The post ALERT: Leeb – Gold To Trade Higher On Monday But Expect This Before It Hits $10,000 appeared first on King World News.
Another bullish gold catalyst as Albert Edwards warns, "Beware a US dollar slump."
The post BULLISH GOLD CATALYST: Albert Edwards – Beware A US Dollar Slump appeared first on King World News.
This is Good News Friday, where we find some good economic, energy, and environmental news and share it with PP readers. Please send any positive news to dd@peakprosperity.com with subject header "Good News Friday." We will save and post weekly. Enjoy!
N.Y. Lawmakers Pass Bill to Decriminalize Marijuana and Expunge 900,000 Arrests (sv)
The measure allows individuals to avoid criminal penalties for holding less than two ounces (57 grams) of the drug. The law still calls for a $50 fine for holding less than an ounce, and $200 for one to two ounces. It also provides procedures to expunge records of convictions.
Dad, We Need To Talk (Tom P.)
But the blow didn’t kill the dog. The driver that hit her sped off and left Chica half-dead and crying in the road. But the next car did stop. It was a young black kid. A young black kid who saw a young white kid on his knees in the middle of downtown Indianapolis. His name was Kenny. He opened his door, got out of his car, walked up to my son, and said “hey, I got you”. He then walked Max out to the middle of Indiana Avenue and they picked up a bloody Chica and loaded her into Kenny’s car.
Why a Computer History Museum Owns a Legendary Teapot (Thomas R.)
During his student years, Newell faced a problem. He needed a new 3D model, but many existing mathematical models were too simplistic to test the techniques he was working with. According to several interviews, his wife, Sandra, suggested that he use their tea set, which included a white teapot. Inspired, Newell sketched out the dimensions of the teapot on graph paper, then entered its coordinates on a Tektronix storage tube, an early computer graphics terminal.
The TurboTax Giveaway Is Dead (sv)
“This is a significant victory for low and moderate income taxpayers,” said Mandi Mattlock, a tax attorney on contract for the law center.
‘It’s a miracle’: Helsinki’s radical solution to homelessness (sv)
“It was clear to everyone the old system wasn’t working; we needed radical change,” says Juha Kaakinen, the working group’s secretary and first programme leader, who now runs the Y-Foundation developing supported and affordable housing.
Renewable electricity beat out coal for the first time in April (tmn)
One thing to keep in mind, however: coal’s demise has many environmental benefits, including reductions in particulate and sulfur oxides pollution as well as better health for those who once lived near coal plants. But fewer coal plants have not been translating to reductions in carbon dioxide emissions in the US. In fact, the boom in new natural gas plants around the country has more than made up for coal retirements in terms of carbon dioxide emissions. If we’re going to take on climate change in an expeditious manner, cheap natural gas will have to be the next target.
Canada to ban single-use plastics as early as 2021 (sv)
“As parents we’re at a point when we take our kids to the beach and we have to search out a patch of sand that isn’t littered with straws, Styrofoam or bottles,” Mr Trudeau said.
“That’s a problem, one that we have to do something about.”
New York City Passed Its Own Green New Deal–Like Legislation (sv)
According to the city’s website, the Climate Mobilization Act also includes provisions to study the feasibility of replacing gas-fired power plants, block a natural gas pipeline, encouraging or requiring green roofs depending on building size, and imposing a fee on paper bags. The Hill reported that the bill passed 45-2.
Click to read the PM Daily Market Commentary: 6/27/19
Provided daily by the Peak Prosperity Gold & Silver Group
Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."
The post Daily Digest 6/28 – Good News Friday: Helsinki’s Radical Solution To Homelessness, Canada To Ban Single-Use Plastics appeared first on Peak Prosperity.
from Financial Survival Network
Gold and Bitcoin have been on fire for the past month. Bitcoin has far out performed gold, but that may not be forever. Crypto’s are rapidly changing and you need to be ready for it. Libra, the Facebook Coin is going to change everything. The Zuck-Coin is going to be big, mark my words. What about those Dem loser candidates? None of them could even get elected dog-catcher. They are a bunch of negative, immature and ignorant twits. They’re vision of themselves and America is downright ugly and scary. And that’s why none of them can win and why they’ll be begging for the return of Hillary. Mark my words!
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Today one of the greats said, when it comes to the gold market, "That attitude will change over time."
The post When It Comes To The Gold Market, “That Attitude Will Change Over Time” appeared first on King World News.
On the heels of the price of gold pulling back in order to consolidate gains, James Turk told King World News that a lot of people are extremely about the gold and silver markets.
The post James Turk – If You Are Worried About What’s Next For Gold & Silver, Read This… appeared first on King World News.