Topic: Gold Price

Wall Street remains on high alert as geopolitical unrest in the Middle East threatens shipping routes and global oil supply. Investors are reportedly moving toward safe-haven assets like bonds and gold amid fears of a wider regional war. The conflict's potential to drive inflation and impact Federal Reserve interest rate decisions is examined.

The ongoing oil price war between Russia and Saudi Arabia has led to a global glut and falling prices. The hosts discuss theories that the US and Russia may be working together to bankrupt Saudi Arabia and undermine the petrodollar. They also explore rumors that the CARES Act contains provisions that could eventually lead to the US returning to a gold standard, noting that China and Russia have been aggressively accumulating gold.

The Japanese yen has weakened significantly, benefiting exporters but hurting U.S. automakers. Meanwhile, the Euro has dropped to $1.24, and oil prices have fallen to $78 per barrel. Gold is trading at $1,169, while the Dow Jones Industrial Average approaches the 18,000 mark, though the hosts express skepticism about current market valuations.

The hosts predict a global economic collapse in 2017 following the U.S. election, citing falling prices for gold, silver, and oil. They argue that the fracking industry maintains political support through "dark money" donations to both parties, including former Maryland Governor Martin O'Malley. The decline in oil prices is seen as a threat to the profitability of shale and natural gas projects.

Reports from Europe suggest a push to lower the legal limit for cash transactions to as little as 400 euros to combat money laundering. The hosts argue this is a move toward a cashless society designed to create a total financial dossier on every citizen. They also briefly touch on rising gold prices and the potential for five-dollar-per-gallon gasoline in the United States.

The hosts discuss the difficulty of firing employees in Europe, specifically in Germany and the Netherlands, as a factor in the EU's economic struggles. They also address the falling price of gold, attributing it to banks liquidating assets for cash rather than a loss of intrinsic value.

The Institute of International Finance warns of a global currency war as China pledges to support Greek debt and the Euro to counter U.S. financial influence. The hosts compare China's current aggressive investment strategy to the Japanese real estate boom of the 1980s, suggesting it may lead to a similar economic collapse.

The hosts review their long-standing prediction that gold would reach $1,300 an ounce, noting it is currently near that mark. While one host predicts gold could reach $5,000 or even $11,000 if the economy collapses, the other argues that gold has no intrinsic value outside of industrial use and dentistry. They briefly compare gold to other historical forms of currency like salt, shells, and seeds.

A listener sent six golden teeth to the show as a donation, prompting a discussion on the intrinsic value of gold. The International Monetary Fund (IMF) recently approved the sale of 403 metric tons of gold reserves to raise $13 billion for lending. With gold prices hovering around $1,017 per ounce, the hosts predict the market could reach $2,000 as the U.S. dollar weakens.

Reports indicate that Germany is demanding the return of physical gold bullion held in U.S. custodial accounts. The hosts discuss the disparity between paper gold and physical assets. They also touch on oil price manipulation, mentioning the "whisper number" of $75 and an upcoming interview with Michael Greenberger.

A 12-kilogram gold bar is calculated to be worth approximately $380,000 based on a $900 per ounce market price. Plans for future recordings with Andrew Horowitz are mentioned, alongside a brief discussion about Twitter and the "Cranky Geeks" program. The hosts sign off from Gitmo Nation East and Northwest, concluding the "No Agenda" session.

With crude oil reaching $110 a barrel and gold surpassing $1,000 an ounce, the hosts discuss the economic impact of rising commodity prices. Dvorak explains the industrial necessity of gold in semiconductors and the widespread use of industrial-grade diamonds for cutting and grinding in manufacturing, challenging the notion that these materials are only valuable for jewelry.