Top 4 Reasons For Deflation BEFORE Hyperinflation – Hidden Secrets Of Money Episode 6 (Mike Maloney)

Top 4 Reasons For Deflation BEFORE Hyperinflation – Hidden Secrets Of Money Episode 6 (Mike Maloney)


I’m Mike Maloney, author of “Guide to Investing
in Gold and Silver”. It’s the world’s number-one best-selling book on investing
in precious metals. It’s available in eleven languages. And in my book, I said that we are
on a wild rollercoaster of a ride, and that we would first see the threat of
deflation, followed by a helicopter drop, and that would be followed by big inflation. And that has happened.
There was the 2008 crisis… We’re seeing the base money around the
planet being hyper-inflated right now while all of the credit aggregates are
collapsing, and so it’s sort of netting out to zero inflation or just slightly
positive inflation, even though base money around the planet
is just taking off like a rocket. But it would then be
followed by a real deflation and then followed by hyperinflation. So I think it sort of looks like this: we’ve got the markets going up
in the real estate bubble in 2007, and then we had the threat of deflation,
which was the 2008 market crash, and the big helicopter drop of currency,
and you are here [laughs]. And then I think that we’re
going into something like this, and it’ll be followed by the
world central banks overreacting. People, you know, some people say I’ve been calling
for hyperinflation, hyperinflation, hyperinflation… There isn’t any time that
I can find, in all of history, where a population that’s all on one
side of the boat, when you have a nation of debtors, what has to happen is that
you go into a deflation first, allowing the banks to foreclose. The public, in general, is on
the losing side of the bet. We are entering a period of financial crisis
that is the greatest the world has ever known. The wealth transfer that will
take place during this decade is the greatest wealth transfer in history. Wealth is never destroyed,
it is merely transferred; and that means that on the
opposite side of every crisis, there is an opportunity. The great news is that all you have to do to
turn this crisis into your great opportunity, is to educate yourself. I believe that the best investment that you can
make in your lifetime is your own education: education on the history of money,
education on finance, education on how the global economy works, education on how all of these guys –
the central bankers, the stock market – how they can cheat you;
how they can scam you. If you learn what is going on and
how the financial world works, you can put yourself on the
correct side of this wealth transfer. Winston Churchill once said, that
the further you look into the past, the further that you can see
into the future. This program is all about creating your own crystal
ball: being able to gaze into the future; being able to change this crisis – the
greatest crisis in the history of mankind – into your great opportunity. Well I’ve been traveling
overseas quite a bit, but I’m on my way home now to
speak at an event in California, finally. What I’ve been trying to make clear is
the fact that this rollercoaster crash that I was talking about in my book, and
that I’ve been predicting since 2005, is playing out right
before our eyes. One of the things I really like about speaking at live events is the chance to interact with people and sort of get my finger on the pulse
of what they’re thinking. And lately, it’s become pretty obvious that for a lot of people, it’s difficult
to grasp why I think deflation is coming before big inflation,
or even hyperinflation. So here, I’m going to break down four of the
biggest reasons that I see deflation coming first. The first one is simple: The overreaction to the 2008 crisis has caused
a credit / debt bubble, and all bubbles pop. So, I talked about hyper-inflating base money.
This is, this *is* hyperinflation right here. Inflation and deflation is either an expansion
or a contraction of the currency supply, and prices follow the inflation
or deflation eventually. Now, most of this currency does not circulate. It’s
sitting on banks’ balance sheets and what’s called excess reserves. You know, if you look at
the years leading up to this crisis, this red
line is reserve balances. The white line is how much of it is excess, and here we have Alan
Greenspan’s response to 9/11. Look at the scale of how big this
emergency is compared to 9/11. But what is Ben Bernanke afraid of, and
now Janet Yellen has inherited this legacy? Well, one of the things that happened
in the 2008 crisis is that banks froze up and wouldn’t lend to each other.
They were all scared to lend to each other, and our system is such a fraud, that at the end of each day, they
all have to be able to borrow digits from each other that
were created from nothing just to keep the whole smoke-and-mirrors game
going. They all have to do this interbank lending to keep things balanced. Well, if one bank won’t lend to another and they
don’t have any reserves, the whole system freezes up. Now, if you’ve got all these excess
reserves that are on their balance sheet and you pay them interest to
keep the reserves there and not use this as a basis of
fractional reserve lending, they’re going to be liquid.
This basically prevents bank runs *by* banks *on* banks.
It’s not a public bank run with the the public lining up at the doors. It’s a bank run where
one bank is trying to get their currency out of
another or won’t lend to another, and so this keeps things liquid.
Right now, what this has done though, the banks get to use this
stuff in the middle of the day. And so, you see the use of margin in
the stock market going to record levels. You see the stock market going to record
levels. Things like – I follow collector cars – they’ve been going astronomical. The number
of 10-million-dollar cars out there now is just absolutely insane. And there are
cars now selling for *30* million dollars. Wine collections, art – it’s all
going ballistic at this point. And all bubbles pop. This is the average price of a new home divided
by the median annual household income. Normally, 3, 4 times your income is about
what you can afford with a house. When you drop interest rates, the affordability
goes up, so people pay more for a house. But interest rates don’t stay in one spot forever;
they *have* to revert some time or another, and all these people are going to be
trapped. Every bubble pops; that’s a bubble. We are in for something big again, and this
time it’s going to be more horrific than the crash of 2008, simply because the response
to 2008 created a lot of stored energy. And then when the market crashes, that energy is released in the opposite direction. That previous chart of the hyperinflation of base money, well,
we’re going to get a reaction from all of this. Whatever bubble you’re in, the
opposite happens of what is of greatest benefit
to the most people. Right now, if we went into
big inflation or hyperinflation, the average Joe Six-pack would
get rewarded for mass stupidity. They’re all out on credit; we’re in a
credit boom, we’re in a bond bubble; those bubbles have to pop. And the
popping of a credit bubble is deflationary. It’s deflationary… and history’s crystal-
clear on that. A lot of the gold bugs say, you know, the Federal Reserve and central banks,
they’re creating money, which they are, unprecedented; but, they’re actually inflating to fight the deflation
that started to set in the late 2008, early 2009. And if you look back at history,
as you say, every major debt and financial asset bubble in history – the
railroad bubble of the early 1870s that peaked, followed by deflation; you know, the auto and farm bubble and
tractor bubble – that’s actually a tractor bubble that caused the Great Depression.
It was farms failing and it was smaller local banks failing that caused
the Great Depression and high unemployment. Deflation. Because the
deflation has to root out the massive debt, and the financial assets
that get over-inflated. And it’s good if we bring down the cost of living, if we
restructure debt, if we bring financial assets down; it actually improves our standard of living
long-term. But it is painful when it happens. People don’t – people think that the Federal Reserve can prevent deflation; that they control the money supply. Most people don’t realize that the Federal
Reserve controls *base* money only; and it’s an incredibly small
portion of – it’s so tiny! – right, and all they do is influence the rest of the economy
with interest rates and reserve balances and such. Well, you know, some people say the strategy didn’t work. Well no, it did work:
we would have been in a depression, just like the early ’30s. We were going there: banks
were melting down, financial institutions; *major* Fortune 100 companies
were failing, like AIG. We would have imploded because
once you have that much debt and leverage and things go wrong, it just
builds the other way. Like you say, you get a bubble on one end, you get a crash.
Bubbles don’t crack; they burst. So we were going into that, but
governments said no, we will do whatever it takes: Mario Draghi,
you know, Ben Bernanke… and they created trillions
of dollars to fill the hole. Well, all that does, it’s like taking more drugs to keep from coming down. I mean a drug addict
can keep taking more drugs until it kills them. Or until they just fall down and get dragged
into detox. It’s [the] exact same thing. Debt, especially when it’s extreme,
is a financial enhancing drug: it gives you more than you deserve,
makes you feel better in the short-term. And, but when it’s over, you have to go
through a detox, as they would call it: a debt detox. And that’s where you get deflation. This is the demographics of the
United States back in the year 1940, and it’s broken into five-year age groups. And what I’m going to show you here is
the baby boom and one of the reasons that we’re going into this
deflationary scenario, and we’re also in this swing from
individualism to collectivism. This is a pendulum, a cycle that just
goes back and forth throughout time. And this is the greatest threat to your well-being
and the well-being of the economy – and, freedom. We’re going through a period
where this demographic is going to cause some
huge problems. So, here we are in 1950 and you can see the
beginning of that baby boom taking
off: 1960, 1970, and this wave – now, the reason I’ve got this broken up
into these different colors – children are the ultimate consumers: they consume
everything, they produce nothing – except a quality of life for their parents;
you know, a big reward as far as seeing them grow up and so on. But economically, children are an economic
loss. They consume economic energy. What you’re seeing here
is this wave coming into working-age. The green area
is sort of a break-even area; that’s when people are getting a job and it might be a
minimum-wage job or something like that, and uh, might be sharing an
apartment with a few other people. And then, as you get into the yellow
area you start to become a net positive for society. You’re paying income tax,
you’re producing more than you consume, and then you get into what’s called
the maximum spending demographic. The maximum spending
demographic is ages 45 to 54. And this group lives in the largest houses of their
lifetimes; they’re driving the most cars of their lifetimes; they’re sending their kids off to
college; they’re spending A LOT. Then, the kids – then they become empty-nesters;
that’s the maximum saving demographic. Once the kids are gone, off to college, they
go, “holy moly, we didn’t save anything! We want to retire in five years or ten years!”
And so they start saving. And then, you get to the point
where they retire and they become maximum social burden
demographic, I call it, simply because they’re liquidating assets; they’re pulling –
they’ve got their stocks and their savings and each year they’re going to liquidate
some of those to live. And the only driver that in – the economic driver is the medical industry; they drive the
medical industry. So economically, the maximum social burden
group is a net loss for the prosperity of society, the
prosperity of an economy. And so, I’m going to go back again and you can see that that maximum social
burden group almost didn’t exist in 1940. And there’s a lot of people of that working
age and maximum spending age supporting the few people that were of
the maximum social burden category. And then we get the baby boom
sweeping through and in the ’80s and that stock market boom
of the ’90s and all the way up to 2000, that yellow area that
really drives the economy was growing every year. Now, we have an economy where it’s
supposed to grow at about 3% or it’s going to stall; we have, we inflate the currency supply at
about that rate and… but now, after the year
2000, we’ve got 2010, the peak of the maximum
spending demographic, and from now on it’s sort of downhill. Maximum savers, they do
help drive the stock market, but look at that maximum social burden
category and look at what happens next. So we are going into this
time period right now. Now, the reason there’s no children
on there is they haven’t been born yet. But if you look at… you know, when I first
presented this a couple of years ago, birth rates have been falling for
quite a while now, and they’ve been falling at an even greater
speed since the crash of ’08. And if you look at the data from the Great
Depression, birth rates just fell off a cliff in the Great Depression. And
so you have less people, less people of the younger age coming into this demographic to
support the people that are retiring. They didn’t have the pill
during the Great Depression. Contraception was something that
was not within most people’s reach. So here it is automated, and you can see
that big wave sweeping through there. And if you could imagine
data for the children, it would be a much lower rate. And if
we do have a big economic pullback, you’re going to see that really reduce. So we’re in, most likely, some very serious
trouble here. Because all of our social programs and the way the economy
and the society is set up, everybody is expecting to be able to retire
at a certain age and live fairly comfortably off of the rest of us,
off of the government. Any comments on this, these different age groups:
maximum spending demographic, maximum savings – you’ve
got the same model we do. What is unique at this time in history – and it’s the main topic of my most recent book
– that’s why I call it the Demographic Cliff. This is the first time in most wealthy countries – there’s a few exceptions; let’s call it Sweden,
Switzerland, and Australia, countries like that – that have a larger millennial or echo
boom; but almost every other country has an echo boom that only comes up near the same heights or is much smaller
[like Germany and Japan] – oh, okay, so this echo boom here is
what you’re talking about – so my question to people is,
what – like you say, it is a pyramid. Each generation has been larger and more wealthy to help pay off the debts or the accumulation
from an aging generation before them. What happens when the millennial is having to
support a generation that’s actually larger than them? And what happens when there’s
not enough for them to drive house prices back? I’ve got a
model now for housing that says, people spend the most on housing
at age 41, but then when they die, at age 79 or 80 on average,
they become sellers. So I have to subtract the dyers from
the buyers, and when I do that, baby boomers are going to be dying at
higher rates than the millennials are going to be buying. At some point there’s going
to be net negative demand for housing. Everybody thinks, oh, we’re going to
need more housing for them. No – not when a smaller generation follows a
larger. So, for entitlements, that’s huge; There is no way this next generation in the US, nevertheless in
Japan or Europe where they’re much smaller, can even hope to pay the entitlements [that have]
been promised the baby boomers; it’s a fairy tale. And, housing will never be the same. We saw the Bob Hope generation come out of World War II, the first
middle-class generation in history, where the average person could
buy a house on a mortgage. That was not the case in the Roaring
Twenties, even; only the [affluent?] could do that. That so that was a big boon for housing; and
housing went up, the Depression went away. Then the baby boom comes;
unprecedented numbers. All of our lifetimes, housing’s gone up
with a few exceptions here and there. Housing is going to do well to go sideways for the coming decades, nevertheless go up much again, because of this generational shift.
We’ve never seen this in history. So now that we’ve covered three of the
major components for deflation, I wanted to show you one
of the real biggies here. And this one is the convergence of cycles. There’s a whole bunch of cycles. The
first one is the wealth distribution cycle, and I want to use my own family as part
of a demonstration of this. This is my father. He’s right here, he’s about the age
where he enlisted in the army to fight in World War II. He fought
in the Battle of the Bulge; he was among the troops
that liberated Dachau. Here he is in the mid ’50s; he was manager of an auto parts store
that sold high-performance equipment. And here’s his tax return from 1955; this would have been, he would have been filing
this about a month and a half after I was born. And so, what you see here, is that he’s
a store manager in Salem, Oregon, and his income was about 9600 bucks, and he paid about 1160 bucks in tax, for an effective tax rate
of about twelve percent. And you say, well, he only paid 12% because he didn’t make
very much, so he’s in a really low tax bracket. But wait! This is median home values, this is US Census
Bureau data, and here we have 1950 and 1960, so we’re going to Oregon, 1950… a
median price single-family home was 6800 bucks, and in
1960 it was $10,500. So, I’m going to say probably 8500
dollars as a happy medium there. Today, in Los Angeles where I live, a single-
family median price home is 360,000. Now, he was making enough – making 9600
bucks he was making 1100 bucks more than the cost of the average
home in Salem, Oregon. So, a auto-parts store manager
would have to be making 360- to maybe 420,000 dollars, and then paying only 12% tax on it, to equate
to the same amount. And it’s part of this wealth distribution cycle. This is the amount
of national income that the top 1% earns, and back in the ’20s, the
end of the roaring ’20s, it was above 20%, of the national income,
was going to the top 1% of the income earners. There’s a trough here in the ’70s where
it got down to just 9%, but it’s back up to 20%. And so, you know, in this area,
the middle class was doing better, but – and paying less taxes – but, on the
trip there, was the Great Depression, right here. So, getting back to that is going to be
a very deflationary, painful thing. This, we’ve already seen the baby boom demographic, but I just need to show you one thing here. You recall that the maximum spending
demographic drives the economy. The maximum social burden puts
deflationary pressure on the economy; they sell their stocks, bonds, and
real estate to survive, and they don’t produce anything. But what I want to point out is that there’s about 6 times more people driving
the economy here in 1940 than there are putting deflationary
pressure on it. And when you watch
this wave go through, the drivers are always more until
just the last couple of decades here, and now the people putting
deflationary pressure on the economy exceed the number of people
driving the economy. So if you could chart this out, with time on that axis and the energy
going into the economy on this axis, the curve would probably
look something like this. And I believe that we are right
about here, right about now. And now for the next cycle in this big
convergence, the stock market cycle. This is the S&P 500 P/E ratios. A P/E ratio is the price of a stock per share, divided by the annual earnings
of that company per share. And if you’re paying somewhere
between 10 to 14 times annual earnings, that’s fair value. Anything
under 10 is undervalued, 14 to 20 is overvalued, and
anything over 20 is bubble territory. And here comes the data –
and what is important here is that when the stock
market goes into a bubble, without exception, it has to visit undervalued
before a new bull market can begin. Except for this time, the bubble, biggest
bubble in history in the year 2000. And when it popped, we went down to fair
value and bounced back up into a bubble. Do you really think that a new bull market can
begin from here? That we’re not going to visit extreme under-valuations? I don’t
think so, I think that we *have* to visit extreme under-valuations before
a new, solid bull market can begin. And now for probably the biggest
factor in this convergence of cycles: This is Nikolai Kondratiev. He’s a Russian economist that Lenin commissioned
to prove that capitalism wouldn’t work. He went away for a couple of years to do his
studies and came back with his findings, that capitalism was the superior system
and would work marvelously well, but it would always suffer from these
long-wave, boom-bust cycles – to which he gave the names of seasons –
of spring, summer, autumn, and winter. We’ll come back to this in some
other episode and really dig into it. But for now what you need to know, is that the winter is the deflationary season;
the last winter was the Great Depression. And they used to call this the 50-year cycle, but
lately it’s gotten stretched out and takes longer. Now, I believe, that it’s got to be the
length of a human lifetime. And the reason is that the winter is deflationary, and the people that were old enough to be
of working age and have young families, that lost the house, lost
their job, lost the family farm; they become very emotionally scarred. And they
become very risk-averse, and very very frugal; and in order to make all the same stupid
mistakes that we made in the Roaring Twenties that led to the Great Depression,
that generation has to die off. Well, they *have* died off, and we *have*
made all the same stupid mistakes. So this is very deflationary, should it happen.
And here’s the supporting evidence: this is interest rates, and what you see here
is that they go right along with the cycle. This is wholesale prices in the US, and
again, they go right along with the cycle. Until the point the Federal Reserve decides
that what we really need is constant inflation. This is one of the biggest cycles of all. It’s hard
for people to see, though; this East-West cycle takes about 500 years for the pendulum to
swing each direction, and 500 years back. It’s innovation and prosperity, swinging from
Asia, to Europe and North America, and back. And in the Dark Ages, China
was developing gunpowder. Then, China stagnated while we had the
Renaissance and Industrial Revolution. So, ingenuity and prosperity does
flow back and forth; and right now, you should be able to feel that the Western economies are
stagnating and have sort of stalled, while the growth in the Asian economies over
the last 20 years has been mind-boggling. And so this is very deflationary for the West. And here is probably one of the
most deflationary cycles of all: this is household debt as a
percentage of disposable income. And alarm bells should
really be going off when people owe more than their disposable
income: anytime this exceeds 100%. But I believe that this is also a cycle; and that
if we had data, if we could go back further, it would probably look like this. And what’s interesting is that this reflects
the seasons of the Kondratieff wave, of spring, summer, autumn, winter;
spring, summer, autumn, winter; And we’re going into a winter
and that’s very deflationary. The next cycle you’ve seen before; we learned
about this in episode 2. But it’s the shift in world monetary systems: the classical
gold standard, the gold exchange standard, the Bretton Woods system,
the US dollar standard, and there’s something that’s coming next;
these usually coincide with major wars. But whatever this next shift
is, it’s going to be chaotic, and it’s probably going to be a little
painful; it’s not going to be pretty. Right now, and we learned in Episode 3 how countries are abandoning the US
dollar standard at a blazing rate right now; it’s developing stress cracks,
and it’s going to implode. And here’s the thing, is that
that is going to be happening with the convergence
of all of these cycles. We have the East-West cycle; we
have the baby boom demographic; we have the wealth distribution cycle; household
debt as a percentage of disposable income; the stock market cycle; the Kondratieff wave;
and the shift in world monetary systems. And the thing about all these
cycles is that they have all peaked, and they’re starting to descend, which is deflationary. Deflation, deflation, deflation, deflation, deflation – and that is all happening at the time
when the world monetary system is developing stress cracks.
It’s about to implode – and it’s going to be extremely chaotic. These things are all going to
make it even more chaotic. So that’s the convergence of cycles
and all of these things are the reason that I am expecting deflation
before big inflation or hyperinflation. But just as I said in my book, any deflation
is probably going to be short-lived. This is the nightmare scenario
for every central banker, and all of the world’s central
bankers are Keynesians. They believe that they can
print their way to prosperity, even though they have proved
that you can’t, time after time; all it does is cause a wealth transfer.
When all of the world’s central banks start printing their currencies
into oblivion simultaneously, what you will see is a wealth transfer
where the vast majority becomes very poor and just a few people become very
rich. It’s horrible for the economy. But Japan is the prime example
that it does not work. You can’t print your way to prosperity. And here’s what you can do: educate
others. Protect yourself from what is coming. And please, share these videos
with everybody that you can. And until the next episode, thank
you very much for watching. You can do stuff now to be ahead of this, and be positioned right,
when this happens – cause this is inevitable. This *is* going to be the first time that we have
an economic event of this scale that is global – a small percentage of people are going
to make a fortune and do very well and most people are just
going to not know what hit ’em.

40 Comments

  • Terry Capp

    September 18, 2019

    …………Hyperinflation , when it starts……..will be like trying to put out a fire with gasoline …….

    Reply
  • Entellus

    September 19, 2019

    CRAZY HOW THIS LITERALLY HAPPENED THIS WEEK, INTER BANK LENDING FREEZE UP.

    Reply
  • TheMetro

    September 21, 2019

    Buy Bitcoin

    Reply
  • kevin joseph

    September 23, 2019

    at 9 minutes…saved? now its worse.

    Reply
  • hanspanzer

    September 23, 2019

    I think the East/West cycle loses meaning as we are entering total global connection by the internet and Bitcoin.

    Reply
  • IQ CREATIVE

    October 5, 2019

    You are my mentor Mike, you teach me things nobody did. Thank you for this great series

    Reply
  • IQ CREATIVE

    October 5, 2019

    The dislikers, don't like to hear the truth

    Reply
  • BT Bite

    October 5, 2019

    Wow, this video being published in 2015..now 2019, Deusbank lay off 10,000 of its worker, Warren Buffet start piling up a cash, mike burry start invest in small cap..Gold price suddenly increase 3 time last month..my country central bank reduce the interest second times in this year alone… I dont like where this thing going.

    Reply
  • Website guy

    October 8, 2019

    Buddy you have come a long way ….good job.

    Reply
  • Saosaq Ii

    October 9, 2019

    If you guys see deflation it’s time to hoard gold and silver.

    They will be cheaper then and you will be making bank when hyperinflation come.

    Reply
  • William La Pointe

    October 9, 2019

    I would like to hear your take on what serfs (and kings or lords of the land) did or experienced during their times of deflation and inflation.

    Reply
  • Chris Williams

    October 12, 2019

    Brilliant analysis and presentation.

    Reply
  • E Man

    October 13, 2019

    This video is 3-4 years old. The stock bubble has blown up so much more now.

    Reply
  • M. S.

    October 15, 2019

    So if Mike is correct and it certainly appears to be so .. the asset you should be loading up on is … BONDS .. high quality gov't bonds. The time to acquire gold and silver will be in the future … at MUCH lower prices

    Reply
  • KIM Kinder

    October 15, 2019

    buy buy buy gold and silver

    Reply
  • Louie Louie

    October 15, 2019

    Bullshit, the Great Depression was caused in the same way: over valued stocks. Companies were handing out stock ownership at a reserve ratio using speculation and promises of huge growth. Invest $200 in our stock and receive a stock certificate for $350. An immediate equity of $150. Same ol Ponzi scheme…

    Reply
  • Skyler Small

    October 16, 2019

    Giving women rights was the worst thing this country ever did. Now we don't have kids, massive debt and a police state to boot. Those who value security over freedom with have neither. And we know what women value.

    Reply
  • Coach Alpha Elite

    October 16, 2019

    My age a lot of people are about to die. We will start the purge with anyone in the social burden ages. Sorry but we are all out of energy. Ie money

    Reply
  • david stewart

    October 16, 2019

    max social burden is a return of their wealth to the market place, they are only a burden to the tax payer if they have no assets . Poor people are a burden. Badly run economies are the result of poor voting choices and corrupt outcomes, that's how it is, a "civilized jungle" .

    Reply
  • Maxim Ivashkov

    October 18, 2019

    But this stored energy is not in real economy so it is like a storm middle of an ocean. πŸ˜‚πŸ˜‚πŸ˜‚

    Reply
  • samantha tang

    October 24, 2019

    Who cares about masses of lemmings. they dont care. children. dumb down and dummy.

    Reply
  • Abhinav Gautam

    October 24, 2019

    Thank you, so much for this. Onto Episode 7!!

    Reply
  • Pho E

    October 25, 2019

    WHO IS CAUSING THE HYPERINFLATION? Where is the DISEASE? We see here only the SYMPTOMS? Where is the CANCER to root it out?

    Reply
  • Free World

    October 29, 2019

    I just shared this series to my friends and family. This is a very valuable resource. I can't believe it's offered for free. Unbelievable. Thank you Mike Maloney.

    Reply
  • Ed Ca

    October 31, 2019

    Best ever videos πŸ˜ŽπŸ‘πŸΌπŸ‡ΊπŸ‡Έ thank you Mike πŸ˜ŽπŸ‘πŸΌπŸ‡ΊπŸ‡Έ

    Reply
  • Robert Victor

    November 1, 2019

    If not banks where should I place my earnings?

    Reply
  • Robert Victor

    November 1, 2019

    After purchasing and investing in gold/silver, what else prepares me for the crash?

    Reply
  • Ryan Walker

    November 2, 2019

    That's because paper money economics in a nanny state requires expansion of people as well. How did this work with pensions? Yeah we have literally tried this before. If inflation, as well as working population could be controlled it could work better. Government incentives for having kids perhaps? Or governments could just let people take care of their damn self and have some responsibility. Then old people who were lazy, stupid, or just didn't save would be charity's problem. Or should I say society's choice. How bad to people really want to pull other people's dead weight. I just don't understand those political policies. Actually I do, we as a society are so stupid and so lazy we voted for it. Now its time for a lesson in money, government, and economy that everyone will suffer through. Sadly few will learn anything from it. Plenty of finger pointing absence of thought. If the government would lower my taxes 12.4% I think I could save more, or spend more.

    Reply
  • Tavoi Aiono

    November 4, 2019

    Winston Churchill was a FAT smelly drunk psychotic that should NEVER EVER have had a place in history. Stop quoting him pllllleeeaaasee………..

    Reply
  • Tavoi Aiono

    November 4, 2019

    This inter banking lending is happening NOW, literally 4 wks ago the Fed put 250 billion $$$ into the banking system and the media is not reporting on it.

    Reply
  • Cedwick O'Brien

    November 6, 2019

    Banks do business with our money with out paying us too bad that’s why I use my money to invest more to profit.

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  • john knapp

    November 9, 2019

    This needs to be taught in school now and college to prepare everyone!

    Reply
  • Parrot Boss

    November 11, 2019

    bitcoin fix this. #dropgold

    Reply
  • Christ Brown

    November 20, 2019

    REVELATION 17-

    Reply
  • Cult Leader

    November 21, 2019

    so when is the deflation crash coming

    Reply
  • Elias Markos

    November 22, 2019

    Keep on waiting for the winter squirrels 🐿

    Reply
  • B Prop

    November 23, 2019

    Love the show, I would like to share something with your audience that
    I use, it's called MICRO PLANT POWDER GOLD from HempUSA.org is
    a high vibrational food product that I have been using for years. It allows the body
    to catch up on lost sleep and helps with depression and total detoxification.
    It is a powder that goes into any liquid and balances all body systems filling
    them with nutrients that the body needs.I have been using it for years and just wanted
    to let your audience know about it. This product greatly helped me in my life. I believe
    it could be known as the worlds best kept secret. It also cleans the blood,
    lungs, stomach and colon while oxygenating the entire body. You will love this product!!!
    and by the way, they do not advertise, I hope this helps many people !!!

    Reply
  • Perry A

    November 25, 2019

    The federal reserve building is so white, it looks like a temple. Where is Jesus?

    Reply
  • Perry A

    November 25, 2019

    Really. Generational debt? Slavery slavery slavery. Every person is born free. And any institution that says otherwise is as bad as the federal reserve.

    Reply
  • Elvis Frog

    December 3, 2019

    Maloney's vids are generally good, when he makes the case for Gold/Silver, but he makes way too many misguided statements like "wealth is never destroyed; it is merely transferred!", what poppycock. That would mean that after WWII, a bombed out and burned Germany's wealth, which like most wealth, exists in the form of assets, mostly infrastructure, was still intact. That is what I call a bunch of Boloney with a M.

    He also equates the criteria for liquidity (in a list) with both money and currency… wrong again Mike. Capital = Money; Money = Capital. The product of banking is converting or transforming capital/money into currency which represents the capital/money. This is done by processing it into a liquid form, paper or coins, or ?

    Fiat currency is generally under-capitalized, but the process is the same. Fiat comes from legal tender laws, forcing under-capitalized currency to be accepted at face value.

    Reply

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