Few people listen to these guys and almost all institutional investors completely discard their analysis.
Yet, here we are, the stock market is crashing – proving the Fed has been wrong about everything – and these guys are right.
Here are a few things they say;
“This money can disappear faster than it was created.”
“In 1920 the average person could not borrow to buy a home. There was a five year mortgage and you had to put 50% down, and it’s kind of like that in China today. “
“I am very worried about what Central banks are doing, because they have taken over the economy. They set short term interest rate, they set treasury bonds 20-30 years to zero adjusted for inflation – its free money. “
“The greater bubble the greater the burst, so everybody it telling me – what’s the problem the government, we averted a great depression, hey we are going at 2%, we are doing better than Europe and Japan. The problem is we are going to have a bigger bubble and the bigger disaster because governments will not take the consequences for the debts they helped to create. “
“The next downturn will be a significant downturn, especially financial assets.”
“The dollar is the safe haven turning the deflation …”
“Nobody saw what happen in the 1930’s coming … and nobody sees this coming … “
“A small percent of the people are going to make a fortune and do very well, and everyone else is not going to know what hit them. “
“… the next several years will be the worst economic and financial crisis you will see in your lifetime maybe even in your kids lifetime. … So what you do today will be more important than in your lifetime.“
Here is the entire interview.