A Giant Ponzi Scheme

Jason Burack of Wall Street for Main Street invited me to discuss economic issues and the precious metals market. He keenly interested in the report I wrote which exposes to be, in essence, a Ponzi scheme dressed in drag – replete with highly misleading accounting issues and very questionable business model.

We also discuss why the Fed can’t raise interest rates, the precious metals and mining stocks, whether or not the LBMA and GLD are effectively out of physical gold bullion and the housing market:

“Speaking of Cramer, this is how you know the housing stocks are about to fall out of bed: just last week Cramer put out a strong buy recommendation on three homebuilder stocks (insiders have dumping shares in all three)” – from the podcast

3 thoughts on “ A Giant Ponzi Scheme

  1. Dude, I think you need to take a step back and see the bigger picture – the entire foundation of our economy is a ginormous ponzi scheme, led by the jackals in our government. Amazon is but one drop in the deluge of local, state and federal govt corruption along with banks, car manufacturers, “green” energy companies, home builders, defense contractors, ag and healthcare industries – hell, who isn’t playing games? That would be a f-king short list.

    The fish rots from the head as they say. Deep breaths. Gold, silver and Lead.

    1. LOL. Good analogy. But dude, half of what I write about is that our entire is system is one big Ponzi scheme. I sent this to one of the investors in my fund today:

      Our economy is starting to collapse now. What will likely happen is that global financial system will be “reset” and the dollar will removed as the reserve currency. Technically, there is no other country more insolvent that the U.S., especially when you include all private sector debt PLUS the contingent liabilities like medicare, social security, money borrowed by State Government + the Federal Govt borrowing from the Federal pension.

      Whatever catalyst removes the ability of the western Central Banks from manipulating the price of gold with paper gold will also be the catalyst that makes life very uncomfortable for Americans – all of us.

  2. I have often thought the government must be backing Amazon someway/somehow. Just like the g man let EBay use PayPal as the sole payment system. Talk about a monopoly. Look how many sellers get a 1099 now. G man has to track all that money somehow.
    I could see a sales tax being added to everything everyone has purchased from Amazon going back say 5 years.
    I would not be shocked.
    Dave, keep up the great work.

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