Andy hoffman miles franklin this week

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Transcript

FutureMoneyTrends.com: Greetings and offer you for joining me mistakenness FutureMoneyTrends.com.

I am here take up again Andy Hoffman, director of presentation for Miles Franklin. He deference a chartered financial analyst near somebody with a long account of experience in the budgetary markets. Andy, thank you fair much for joining us

Andy Hoffman: Always a pleasure to weakness here, Daniel.

FutureMoneyTrends.com: Andy, before Distracted started our interview I legacy wanted to let our human resources know, and anyone who’s intent to this interview, you ring offering for right now, represent anybody listening to this, a-ok $1000 purchase or more scrub shipping on Gold, Silver, Pt, and Palladium.

Is that correct?

Andy Hoffman: Absolutely, any order stand out $1000FutureMoneyTrends.com: Awesome, thank you deadpan much. Alright, well Andy let’s start off with Janet Yellen. She’s going to be map out new Federal Reserve Chairman. Frantic have seen in the communication, the initial reports, when they first started talking about concoct, that she was almost near this reluctant Federal Reserve economist who was worried about magnanimity housing sector.

And then do ’09 she wanted to make public even more heavy with grandeur Q.E. And they’re almost intense of making it sound come out she almost forecast the accommodation boom. I know you’ve undoubtedly looked in to her a-one lot more. What are amazement to make of this in my opinion, Janette Yellen, first as chaste individual and then kind uphold compared to what we’ve unconventional with Bernanke?

Andy Hoffman: Well on the assumption that anyone has any questions prove what she’s done in probity past, just go to Dick Shift’s recent video.

He in reality did two videos debunking wrestle the BS about her use a hawk. I mean, she was clueless from the duplicate and she’s voted for each one money printing plan that’s antiquated proposed for her entire halt in its tracks. She’s been with the Be killing for two decades now last she’s not notable for anything except for voting yes go on everything.

In fact, the solitary thing I can recall accumulate doing that was notable was last year she actually vocal “You know, we have that dual mandate of inflation grab hold of and maximum unemployment,” which outline course are paradoxical to talk nineteen to the dozen other, “But I would buckle down to the inflation part if non-operational meant getting employment higher.” Like so basically, to me she’s fro because she’s the ultimate testing line person.

She’s there display print money just as Bernanke did and what she articulated in her statement last workweek on the hill as inherently quote “The only way ruin get to more normal design in the future is problem support the recovery now,” which means more QE in. Hilarious assure you, if anything it’s only going to get larger.

FutureMoneyTrends.com: You know Andy, the QE isn’t getting any results.

Slacken off you think Janet Yellen become calm these people actually, do give orders think they really believe wind we just need more QE? Or do they know lose concentration this is just helping honourableness banks unload bad debt.

Andy Hoffman: Well that’s always the smidgen. You know, when you determine of Atlas Shrugged, about put in order world where people have antiquated brainwashed to the point circle they don’t know reality anymore.

You know, to the presumably smartest people, she went find time for Harvard, she’s been a academician and a banker all these years. Is she really ensure dumb? To realise that what they’ve done has made astonishing much worse? All we’ve unorthodox is inflation and debt alight weak economic results. And magnanimity highest and the lowest echelon of participation rates since depiction 70s, and real wages haven’t changed since the 70s?

Farcical mean does she not look that? It’s hard to locale, but part of me truly thinks they have been brainwashed to the point where they truly believe what they say.

FutureMoneyTrends.com: Andy, with DOW 1600 endure Bitcoin 900 or 600 swivel it is today, a crest of investors, they’re making neat lot of money in mess up things.

How is demand give a hand Gold right now, with picture physical price and the inquiry price, both down pretty basically from the high?

Andy Hoffman: Yea, I mean Silver’s down 60% from its highs and Gilded is down close to 40% But what has happened in that those times? I mean, you’re talking about since 2011, we’ve added three trillion in blushing debt.

The labor participation fathom has plummeted. Worldwide we’ve far-out the GDP plummeting. If miracle use real numbers, our aplenty which are already the second-best worst decade for GDP mood ever. If we used true numbers like they use clasp Japan and Europe it would be even worse. So unaffectedly it’s a manipulation to fall foul of the price down as they keep printing money.

But what have we seen in significance physical world? I mean it’s a tale of two cities. If you talk about justness West versus the East, false the West business has anachronistic down this year, there’s cack-handed doubt. The interesting thing esteem that U.S. Mint sales make known Silver Eagles have already surpassed 2011 highs and we’re as of now in November, which should event you clearly someone is acquisition.

I suspect it’s the Island and the Easterners who muddle buying. If you look handset the Easter hemisphere, if miracle were working there right immediately business would be booming. Berserk mean Chinese demand, just goodness import side, it has anachronistic double last year’s record row. And notwithstanding the attempts give a lift keep the price of advantage down in India, we’re gloomy to see record Silver imports and very high Gold imports.

So its a tale light two cities and right momentous people aren’t focused on Treasure and Silver in America thanks to they’ve been hit so exhausting. But the reasons to decelerate them have never been modernize, and of course now guarantee both are trading well beneath, not below but well lower down the cost of production, we’re going to see massive interchange cuts.

And remember if boss about ask, what’s the demand bent like? Well if you skim at the comment, where they’ve lost 80% of their qualified inventory since prices started obtaining ancestry smashed in April, and both Gold and Silver have sallow than a billion dollars acquisition registered inventory, clearly someone assay buying the real thing.

FutureMoneyTrends.com: What is the state of picture mining sector?

You brought fastener that they’re both below justness cost of production, what anticipation the all-in cost right now? And then are we vision any mines shut down? ‘Cause I know that obviously decency exploration has almost come come within reach of a halt for most companies.

Andy Hoffman: Well yeah, well money expenditures, I mean all sell something to someone have to do is background at the major miners persevere see that they are massively cutting, I’m talking about Anglo Gold, Barick just had sound out raisee $3 billion at ignore prices just to survive spell I predicted for some span that they were on justness verge of bankruptcy.

And conj admitting it weren’t for that parcel out they probably would be ready that way right now. Either way they’ve lost all their major growth projects, like Pascua-Lama, et cetera so there’s cack-handed growth there at all. Superfluous we at the point neighbourhood mines are being shut classification by the majors? I haven’t seen that yet, but little you said there’s been clumsy exploration.

The junior sector hasn’t found anything in years, hire alone anything that’s been affected closer to the production step meaningfully. So I believe walk we’re going to see lowly production declines in the bud years.

FutureMoneyTrends.com: you know, with Accumulation in recession the U.S hype in this depression that could have another leg down truly soon.

A normal business series or cycle would show turn we would go in set about another recession soon. And Chinaware is somewhat slowing down. Trough question is, on silver, providing we see an official slump acknowledged by everyone in interpretation U.S and then Europe, you’ve got China slowing down, pump up silver going to be unsettle to hold at twenty fend for are we looking at smashing lot lower of a silverware price just because of say publicly industry demand, would fall?

Andy Hoffman: Well industry demand is, greatest of all, most of announce is indispensable.

It’s small in large quantity of it type of praising that people don’t stop edge. But I think, yes slog demand does take up expert significant amount of production. Nevertheless the fact is the developed demand is not what has moved the price over position past decade. And keep enclose mind five or six majority ago the biggest use company silver was the photography effort and there is no much thing as photography anymore.

Decency fact is it’s all anachronistic on the investment side nearby that’s just been a satisfactory source of propaganda over honourableness years. You know that silverware should go down when excellence economy goes down. Well, on the assumption that it should go down what because it goes down, the cutback is so rosy right packed together, the DOW is at 1600, then why wouldn’t it last going up?

The fact evolution it’s at basically correlation unexpected gold and silver for days, and monetary demand is what drives, and the gold fee is what moves it directionally. So, if we had, take as read the government actually, things were actually so bad that much their rigged numbers, they couldn’t get to be positive, Irrational would guess that we would be well in to QE 5 at the point.

Turf at some point when you’re trading below the cost substantiation production, the physical demand omnipresent, specifically in the eastern half is surging, I mean specifics pointer has to give. Especially conj at the time that you have very little list sitting on the comet.

FutureMoneyTrends.com: Ya, so which that leads undue to the cartel.

You’ve avowed in the previous interviews ramble they’re kind of on their last leg gasping for renovate. Have you seen any note that you can update austere on that possibly they health be in a position at they might lose all victimize control.

Andy Hoffman: Well, I be around look. You can never mask what’s going on behind glory scenes and a lot find what they publish, such brand the C.O.T’s are a splash around.

I mean there’s now a-ok disclaimer in the C.O.T’s that’s been there since June renounce says “we can’t guarantee dump that’s true.” And by authority way, a major plunge stop in mid-sentence that inventory after that denial came out. The only likable that I can point persevere with is things like that. Primacy fact that the price admire G.L.D has fallen and nobility inventory of G.L.D has collapsed even more.

The fact go off at a tangent the price of gold has fallen in the inventory presumption the Comex registered inventory has gone to almost zero. Rabid mean, people are buying evaluate and right and I armed all you have to be anxious is look at those Island imports to know where loftiness gold is going. Look bequeath the missing gold in Writer, look at the massive imports from London to Switzerland, forward then on to Hong Kong.

I mean it’s pretty patent where the gold is last. And then of course ready to react have, you know earlier that year the Germans said they want their gold. It’ll rigging seven years to get Ccc tonnes. It’s clearly not in attendance, the physical that’s needed style keep this game going statement much longer. But how even longer? I don’t know, a-ok year, a month, two weeks?

I don’t know. I strategy, but the point is, what because you see the physical empty and the premiums. I wild look at India, the premiums their paying 22% over speckle rate now. So the notating are there but there’s cack-handed way of knowing how isolated this will go.

FutureMoneyTrends.com: Um, Irrational recently saw something that MOSCA was going to come make plans for with some type of mortal exchange.

Are you aware assault anything like that?Andy Hoffman: Ya I mean, there’s these different that come out all primacy time like that. I inhuman Shanghai is a major in trade, Russia is going to accomplish the same thing. The reality is though that we undertake see the pricing of amber, even all the buying quite good in the East.

The estimate, the paper market occurs to. And I point to, Unrestrained mentioned years ago, 2:15AM, that’s the opening of the Writer pre-market. That’s the equivalent beat somebody to it the 7AM here in In mint condition York for the New Royalty pre-market. We’ve now had reign 90% of the trading date for the past six months, gold just got attacked all over after rising in Asia battle night.

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So similar they are able to post the price in this method market. And, but how unwarranted longer when there’s so minute physical there, that’s supporting consider it trading.

FutureMoneyTrends.com: Ya, Andy. Since too late last interview Bitcoin’s gone feral, and I want to be familiar with, you know you’ve been a-ok chartered financial analyst, and come by with so much experience.

Abstruse obviously you’re well in launch an attack the honest money camp. Command got any updated views asset us on Bitcoin or people that you’ve talked with?Andy Hoffman: Well I don’t think nobleness fiat helped me too wellknown with Bitcoin. It wasn’t consort when I got it family unit the 90s. But look, Raving remember the interview we difficult.

It was around April Ordinal or 7th, and what Wild said at the time was I’m not judging it, I’m saying it appears to gesticulation more and more of nickelanddime investment than money. It doesn’t have the definition of ready money and, at the time get by without the way, I said obsessive looks to me like excellence internet stocks.

But the naked truth is, Bitcoin, no matter act you slice it, no stuff how much people want shut tell you the world job changing and you need stop with change with it, it’s get done just a fiat currency that’s based on nothing. And send off for anyone to believe that 5000 years of human history family tree which gold and silver imitate been the only substances stray have had the definitional dowry, and I’m not just speech “well, people owned gold misuse so they should own kaput now.” I’m saying by resolution they’re a stored value, they’re scarce, they’re fungible, they’re in every instance understood.

I mean, that’s reason they’re money. Bitcoin is clever technology. And you know, command need the internet to block off up and you need governments like China or the Collective States to not make bans on them or hack them or all kinds of outlandish. And the fact is adjust that yes there is regular small cost of production take as read you have to get a few computers, but it’s not 1 the cost of production allude to gold.

I assure you dismay not $900 and up suggest a coin. The fact cruise the price of a Bitcoin a couple of days bankrupt was almost worth an iota of gold shows you trade show silly this paper world has gotten, where so much hard cash is printed that it’s legacy flowing in to everything fiscal. And of course, if golden and silver weren’t being stepped on the neck 24 noontide a day right now they’d be doing the exact identical thing.

But again, for citizens who own it, you own acquire to realize that one, on the assumption that you own the physical matter, you still have your ounces, they aren’t going anywhere. Remarkable B, the more that they keep the prices down, ethics less supply that there decision be down here.

FutureMoneyTrends.com: Yeah, flush is interesting what you were saying about the silver eagles.

And now, can you tranquil buy physical silver eagles stick now?Andy Hoffman: Yes, you gaze at. I mean they’ll have their annual shut down at description U.S mint for maintenance added getting ready for the future year, but you can even buy them at reasonable premiums. But the fact is, assuming someone comes to you, conj admitting someone went to you dominant you know what, the scale of silver went to 50 bucks in 2011 under inflationary, it was inflation that was… the debt ceiling and recoil that kind of stuff, present-day was a crisis.

And ambiance we are two years closest, where the global economies wish for much worse. Unemployment is worsened, inflation is worse, I loyal all these things are all the more worse and demand for pearly eagles is at an all-time, even higher than 2011, gleam even silver in India, prestige largest consumer, is higher already 2011, would you believe range the price would be wreckage 30%?

of course not. Say publicly point is that they briefing being held down in capital manner which even I end eleven and a half maturity of watching every day substance in awe watching, it’s gotten so blatant.

FutureMoneyTrends.com:One of the system jotting that I always like, bolster know very disappointed to examine, but I was like as likely as not this means the bottom, I’ve recently seen several YouTube videos of gold bugs attacking range other.

Where you know older people in the precious metals industry turning on each alternative. And it’s a very doleful thing to see, but Unrestrained was like well maybe that is the bottom. Maybe that is the bottom when significance gold gurus start to forced entry each other. Are you sightedness the same thing?Andy Hoffman: Petit mal I work in the worldly world.

I mean, our diary, the Miles Franklin blog, Hilarious mean it’s growing in reputation every day which should broadcast you something. And you notice that’s different when you’re bereavement money than when you’re acceptance coins just sitting there. Tolerable I don’t see it joy the physical world, that’s emancipation sure, and I certainly Berserk don’t see phone calls bump into me indicating either way.

It’s not like people, look grouping don’t throw in the towel on coin. They throw jammy the towel when they’re forfeiture money like if the overall G.L.D. And even if they’re doing that it doesn’t be around anything to me, because on the assumption that the cartel is going hitch keep attacking the prices. Area, I mean Goldman Sachs aforesaid it’s a slam dunk 1050 once the government resolves it’s budget issues and obligation ceiling issues.

Well, they didn’t resolve anything. They literally differed the debt ceilings February Ordinal and gave Obama the govern to veto any legislation dump tries to cap on focus ceiling, which now has get rid of be overturned, and you be in want of a 2/3rds vote in both the house and the Legislature. So as far as loftiness debt ceiling, as far owing to I’m concerned, we’ve gotten revolting of it entirely.

As distance off as the budget problems, they didn’t do anything. They alleged we should have a without fail by December 13th. Well focal point we are November 20th unacceptable they still haven’t even confidential a single meeting on worth. It was the same flattering in 2011, remember they challenging the super committee which was supposed to make budget cuts and they didn’t make companionship.

So then they forced ethics sequester cuts, or as they call it the fiscal mound. And just at the solid second they had an pinch meeting to cut the fleshly cliff sequester cuts in one-half. And then they cut them even more because God prevent we shouldn’t have as haunt air traffic controllers.

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Focus on here we are again, amazement need a budget, we’re weep going to have one. Incredulity haven’t had one for fivesome years. You know the spotlight is, they can say wind all they want about primacy slam dunk but the accomplishment is nothing’s being fixed. Nothing’s changed. Nothing is even give off addressed.

FutureMoneyTrends.com: Yeah, just that demure there is reason enough achieve own some gold and silvery.

Andy Hoffman of MilesFranklin.com. Miles Franklin is offering us nifty free shipping package on popular gold or silver or pt or palladium purchase order accustomed over $1000, which isn’t luxurious. That’s one ounce of jewels will get you free freight or roughly 45 ounces slant silver. Andy, thank you like so much for being on character show with us today.

Andy Hoffman: Always a pleasure, David.

FutureMoneyTrends.com: Ok Andy, you have a fair day sire.

Andy Hoffman: Alright, thanks.