Massengill Advisory - Blog

Kunstler: "Welcome To The World Where Things Don't Add Up"

9/16/2019

Welcome to the world where things don’t add up. For instance, some people did some things to the Saudi Arabian oil refinery at Abqaiq over the weekend. Like, sent over a salvo of cruise missiles and armed drone aircraft to blow it up. They did a pretty good job of disabling the works. It is Saudi Arabia’s largest oil processing facility, and for now, perhaps months, a fair amount of the world’s oil supply will be cut off. President Trump said “[we] are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!” Exclamation mark his.

How many times the past few years has our government declared that “we have the finest intelligence services in the world.” Very well, then, why are we waiting for the Kingdom of Saudi Arabia to tell us who fired all that stuff into Abqaiq? Whoever did it, it was unquestionably an act of war. And, of course, what are we going to do about it? (And what will some people do about it?)” Click here to continue...

DOJ Accuses JPMorgan's Precious Metals Trading Desk Of Being A Criminal Enterprise

9/16/2019

"Who would have thought that JPMorgan's precious metals trading desk is the functional equivalent of the mafia, and that its one-time leader, Blythe Masters, was the mafia's don?

Well, almost everyone who didn't mind being designated a conspiracy theorist for years. And now comes vindication, because this has just been confirmed by the DOJ, which accused the PM trading desks at JPMorgan of being deeply involved in what prosecutors described as a "massive, multiyear scheme to manipulate the market for precious metals futures contracts and defraud market participants."

In an indictment unsealed on Monday morning, the DoJ charged Michael Nowak, a JPMorgan veteran and former head of its precious metals trading desk and Gregg Smith, another trader on JPM's metals desk, in the probe. (Blythe Masters was somehow omitted).” Click here to continue…

Our Energy and Debt Predicament in 2019

9/15/2019

"Many people are concerned that we have an oil problem. Or they are concerned about recession and the need to lower interest rates. As I see the situation, we have a problem of a networked economy that is not functioning well. A big part of this problem is energy-related. Strange as it may seem, energy prices (including oil prices) are too low for producers. If debt levels were growing more rapidly, this low-price problem would go away.

The “standard way” of encouraging more debt-based purchases is by lowering interest rates. But we are running out of room to do this now. We also seem to be running out of economic investments to make with debt. If expected returns on investment were greater, interest rates would be higher.

Without economic investments, demand for commodities of all kinds, including energy products, tends to stay too low. This is the problem we have today. Our debt problem and our energy problem are really different aspects of a networked economy that is no longer generating enough total return. History suggests that these periods tend to end badly.

In the following sections, I will explain some of the issues involved.” Click here to continue.

China's Strategy Against Trump and America: Trade War, Huawei, 5G—Gen. Robert Spalding

9/12/2019

"In the US China trade war, what’s behind the Chinese communist party’s (CCP’s) strategy, with Liu He walking away from the trade talks at the last minute? What’s the real relationship between Chinese telecom giant Huawei, and the CCP’s quest for global 5G dominance? And how is this all a much, much bigger issue than just trade?

This is American Thought Leaders and I’m Jan Jekielek.

Today we sit down with General Robert Spalding, who was a Brigadier General in the US Air Force, chief China strategist for the chairman of the Joint Chiefs of Staff at the Pentagon, and a Senior Strategic Planner for the White House, at the National Security Council. Now, he’s a senior fellow at the Hudson Institute."

Why The Next Financial Crisis Will Be Bigger Than 2008 (w/ Jim Rickards)

9/10/2019

Jim Rickards explains why there's a financial crisis coming, and in so doing, reviews the unusual origins of his predictive analytics tool. He also explores complexity theory and Bayesian statistics. Jim Rickards is a renowned author and the chief global strategist at Meraglim. Filmed on July 12, 2018 in New York.

US-China Trade War & Hong Kong Protests Expose China’s Critical Weaknesses—Steven Mosher

9/10/2019

"What’s really behind the Hong Kong protest where an estimated 2 million people took to the streets on June 16th, almost one third of the HK population? What do the people of Hong Kong actually have to lose?

And how does this unprecedented public outcry relate to the US-China trade war, and what can be considered an existential crisis currently facing Xi Jinping and the Chinese Communist Party?

This is American Thought Leaders, and I’m Jan Jekielek.

Today we sit down with Steven Mosher, president of the Population Research Institute, who is also author of the book Bully of Asia: Why China's Dream is the New Threat to World Order, and a founding member of the Committee on the Present Danger: China.

We discuss the Hong Kong protest, the US-China trade war, how these relate to the Chinese state forcibly harvesting organs from prisoners of conscience, and how, in dealing with China, the current administration can learn from policies former President Ronald Reagan applied to the Soviet Union."

Will a Currency Crisis Bring Down China? (w/ Kyle Bass & Raoul Pal)

9/9/2019

Hayman Capital founder and CIO Kyle Bass is back. In this riveting conversation, he tells Raoul Pal exactly how, why, and when China’s economy will come unraveled. As China’s growth declines, Bass says that its currency is at the heart of a coming crisis. And with growth rates everywhere decelerating, he believes his China thesis is as relevant an investment thesis as any. Filmed on February 12, 2019 in New York.

Subscribe now for more videos like this one: https://rvtv.io/2OW3mqu

Negative interest rates and gold

9/5/2019

The reason for persistent strength in the price of gold can be found in the changing relationship between time preference for monetary gold, and a new round of interest rate suppression for the dollar. Evidence mounts that the forthcoming recession is likely to be significant, even turning into a deep slump. Bullion bank traders are waking up to the possibility that dollar interest rates are going to zero and that pressure is likely to be put on the Fed to introduce negative rates. The laws of time preference tell us bullion banks must urgently cover their short bullion positions in anticipation of a dollar rate-induced permanent backwardation for gold, silver and across all commodities.

This article dissects the moving parts in this fascinating story.

THE STARTLING REASON GOLD WILL RUN | Alasdair Macleod

9/4/2019

Reluctant Preppers
Published on Aug 29, 2019

Wait till you hear this breakthrough analysis of the REAL reason gold and silver's surge will run, and why we can look for this new bull market to be powerfully sustained. Alasdair Macleod, Head of Research at GoldMoney.com reveals his latest findings that a new and massive market phenomenon that defies technical analysis and dwarfs investor demand is the real and historic driver of what may become the most epic bull market that precious metals have ever seen!

Macleod also updates us on the impact of the Brexit on the Eurozone, and answers YOUR viewer questions as well!

The Red Thread: Who Runs the Anti-Trump Conspiracies - West/Molyneux

8/31/2019

"The first investigation into why a ring of senior Washington officials went rogue to derail the election and the presidency of Donald Trump.

There was nothing normal about the 2016 presidential election, not when senior U.S. officials were turning the surveillance powers of the federal government -- designed to stop terrorist attacks -- against the Republican presidential team. These were the ruthless tactics of a Soviet-style police state, not a democratic republic.

The Red Thread asks the simple question: Why? What is it that motivated these anti-Trump conspirators from inside and around the Obama administration and Clinton networks to depart so drastically from “politics as usual” to participate in a seditious effort to overturn an election?

Finding clues in an array of sources, Diana West uses her trademark investigative skills, honed in her dazzling work, American Betrayal, to construct a fascinating series of ideological profiles of well-known but little understood anti-Trump actors, from James Comey to Christopher Steele to Nellie Ohr, and the rest of the Fusion GPS team; from John Brennan to the numerous Clintonistas still patrolling the Washington Swamp after all these years, and more.

Once, we knew these officials by august titles and reputation; after The Red Thread, readers will recognize their multi-generational and inter-connecting communist and socialist pedigrees, and see them for what they really are: foot-soldiers of the Left, deployed to take down America’s first “America First” and most anti-Communist president."