Pinnacle TV

Peter Schiff was recently interviewed by NewsMax Now who spoke to the asset manager about the...

Peter Schiff was recently interviewed by NewsMax Now who spoke to the asset manager about the global market turmoil in recent weeks.

Schiff believes that Chinese and U.S. markets are crashing for the same reason and that the Fed, as usual, is behind it all.

In this special episode of the Keiser Report from Chicago, Max Keiser and Stacy Herbert discuss the $32 trillion in pointless trading each and every year, which results in bankers and brokers getting rich at the expense of churned chumps.

In the second half, Max interviews Janet Tavakoli of Tavakoli Structured Finance about the latest use of derivatives to transfer wealth from the general fool public.

 

On the same day China devalued the yuan, Andy Hoffman was interviewed by Greg Hunter of USA Watchdog.

Hoffman believes China's economy is a house of cards and will take the global economy down with it. The devaluation of the yuan was simply a desperate move by Chinese officials, according to Hoffman. He says Chinese exports are collapsing, and the debt built up in the 2nd largest economy since the financial crisis is bigger than the burden of the US. Hoffman also believes the Chinese will continue to devalue the yuan as economic activity remains stagnant.

While you were sleeping last night, China’s stock market (Shanghai Index), lost over 6%. After throwing hundreds of billions of dollars to prop up markets, banning insider sales and short selling, Chinese stocks have resumed their collapse from a few weeks ago.

Gerald Celente, publisher of Trends Journal, tells Kitco that the Chinese government is desperate. As a result, the downside risk for gold is ‘very low’ he says.

Harry Dent sits down with Info Wars host Alex Jones to explain why he thinks the stock market is just weeks away from beginning its epic collapse.

Dent believes the Dow could crash, over time, to as low as 6,000...

Dent also believes oil will see a dead cat bounce to $48 before possibly heading to $20 per barrel.

Dent warns investors to be fearful of deflation, which he thinks is inevitable as China’s economy and stock market fail.

Greg Hunter of USA Watchdog had Chris Martenson on his show on August 2nd to talk about the dangers of debt loads in the developed world.

Banks creating money out of thin air for slow-growth developed economies has put the sovereignty of these nations in great danger. Greece is just an example of what is to come, according to Martenson. He explains how banks create fiat currency and then lend it out in hopes of default because reimbursement comes in the form of public utilities, ports, infrastructure, water, electricity and so forth (precisely what we are seeing in Greece).

China stocks were on fire today after disappointing news from Asia’s largest economy regarding GDP growth. More speculation is emerging that the Chinese government will intervene in the marketplace.

Rumors are that major Chinese state-owned enterprises could be involved in near term mergers and acquisitions. Top target candidates could be China Shipping Development Company and Cosco Holdings.

Should Friday’s non-farm payroll miss expectations, it could be the break gold is waiting for, said one senior market strategist.

“It is going to be huge,” said Bill Baruch, senior strategist at Chicago-based iiTrader, in regards to the potential impact on gold.

He spoke with Kitco News on August 4th and commented:

In a video that has been completely ignored by everyone, including media and the investing public, Donald Trump did a deal in early 2014 where he took gold as a security deposit.

Trump leased the floor of one his buildings in New York to APMEX, America's Precious Metals Exchange, and took gold as a security deposit.

Max Keiser discusses the b-b-b-bad to the bone Fannie Mae and Freddie Mac, the two government owned facilitators of mortgage lending which are bigger and badder than ever.

Stacey Hubert relays a direct excerpt from a recent New York Times article, in summarized words according to Mr. Paulson:

"We were going to stabilize the companies' finances, reduce their importance to the mortgage market, and figure out a better system. But nothing happened."


Property bubbles from the U.K. to the U.S. are also discussed.

China’s Stock Market is in free fall again. Monday’s 8.5% decline marked the biggest market collapse in China since 2007.

“The Chinese stock market has been a speculative bubble for some time now” stated Melody Hobson of CBS. “We went from the real estate bubble there to the stock market bubble.”

Now market participants are questioning whether the Chinese government’s efforts can stabilize stocks. The Chinese government injected $8.5 billion into the market Monday, and banned sales from insiders.

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss when the ‘EU will be couping and the Greeks will be capitulating,’ while in the US, Senators are introducing legislation to allow Puerto Rico to file Chapter 9 bankruptcy in order to avoid a debt prisoner situation as Greece is enduring.

At the same time, in the US, health insurance companies’ stock prices triple in five years as consolidation into three or four providers escalate costs to individual consumers forced to consume their product.

Not only did gold selloff early in the week, but gold futures experienced their longest streak of losses since 1996.

Could the metal be due for a technical bounce?

Kitco News speaks with Gary Wagner to find out what levels he is looking at for the metal next week as gold options expire and the markets await resutls from the next FOMC meeting. Wagner commented that: "At this point, we could see a little bounce, but I am expecting more downside pressure [for gold]”.

The privatization of Greek assets is discussed in the latest episode of Boom Bust.

AT&T is now expected to get the green light in its attempt to acquire Direct TV in a $48.5 billion merger. The SEC's recent ruling is discussed. This would make AT&T the nation’s largest pay television provider, serving 26 million customers.

In recent months, some questioned whether the deal would get the regulatory approval it needed to move forward. But now those questions are all but gone!

In this episode of the Keiser Report Max Keiser and Stacy Herbert discuss when the last ear and the last eye accessible to the sound of the closing bell and the last printing of the ticker will mean the US Empire ceases to be as the stock market shrinks along with political, moral and cultural space.

Peter Schiff discusses the HUI Index’s decline and other major gold stock declines following China's announcement.

China recently updated its total holdings on gold, deeply disappointing the market.

German Chancellor Angela Merkel held out the prospect of limited debt relief as crisis-ravaged Greece reopens its banks three weeks after they were shut. Monday is also the day the country must reimburse the European Central Bank 4.2 billion euros ($4.5 billion), including interest, as bonds bought during its last debt crisis mature.

In a video from earlier this year, Carl Icahn warned investors of the potential "destructive" nature of the Fed's policies.

Marc Faber discusses the vintage car bubble among other bubbles.

Various market distortions, along with Faber's predictions, which include a "massive deflation in asset prices" are also outlined.

Finally, Faber recommends what investors should buy.

With gold hitting an 8-month low on Wednesday, market veteran Todd “Bubba’ Horwitz sees it as a buying opportunity.

The “hawkish tone” Fed Chair Janet Yellen put out today, “knocked everything to its knees,” said the host of the Bubba Show and Senior Strategist for the Adam Mesh Trading Group.

Horwitz made a huge call, stating: “I don’t think we are going straight up but I think gold has seen the lows.”

Bubba said he never saw gold as a safe haven play, “It’s a precious metal that you should own in your portfolio.”

Peter Schiff discusses the main reasons behind Greece staying in the Euro Zone. Why Greece should have simply defaulted on their debts is also explained.  

Schiff believes the best thing for the Euro Zone would have been if Greece had left.

Schiff highlights that upwards of 50% of all shipping in the Mediterranean is based in Greece, which may come into jeopardy in the coming months as taxation is contemplated.