Friday , October 30 2020
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Jay Taylor



Articles by Jay Taylor

The America of 1776 Is All but Gone!

14 days ago

For quite a few years I have backed away from discussing politics in this letter because I wanted to stay focused on my main intent, which is to help subscribers’ profit from information I strive to provide. But alas it’s impossible to completely divorce politics and government policies from economics and markets. As Ron Paul has often stated, if we are a free country, we will become a prosperous country. Unfortunately, the freedoms and liberty willed to Americans by our Founding Fathers are now all but gone.
Unless you watch Fox News or Fox Business or OAN, you are probably are not aware that President Obama himself was involved in an attempted coup d’état to remove the duly elected President Trump. A coup d’état is an illegal, unconstitutional seizure of power by a political faction,

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The Gold Bull Market? Are We Nearing the End?

16 days ago

Rick Rule, Dr. Quinton Hennigh and Michael Oliver return as guests on the radio program.
Bernard Baruch was successful because he bought stocks that no one wanted and sold to panic buyers. Rick is known to follow that strategy. He is known buy value when no one recognizes it and then sells later to a stampeding mob of buyers. Rick has an uncanny means of knowing when the party is approaching its end. So, with gold having had quite a run this year, does he see an end in sight for gold and other natural resource markets? Or is the party just getting started?
Before we talk to Rick, we asked Michael for his latest thoughts on those same markets. Always in the hunt for the next monster gold deposit we asked Dr. Hennigh what the chances are of Eskay Mining discovering another Eskay-like deposit

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Economic Recovery Looking Shaky

18 days ago

Everything was up this past week except the T-Bonds. That looks like an inflationary risk on week to me.
With everything up and with rates rising, it must mean everything is A-OK in the economy, right? Well, not exactly. As Danielle DiMartino Booth wrote in her Daily Feather on October 9, the idea of an economic recovery is looking very shaky and rather than a positive growth in GDP during Q3 there is a very real possibility of a negative number this quarter given the hesitancy on the part of Nancy Pelosi to grant more handouts for the COVID-19 economically afflicted.  That would come on top of a negative 31+% GDP print for Q2. Danielle offered a host of bad economic statistics that show this is not a V shaped recovery if it’s a recovery at all. Independent economist John Williams, who

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Peter Krauth Says Gold Stocks Are Cheap, But Not For Long

22 days ago

You could say I am touting my own book as I have been a gold bull all my life, but I can’t disagree with Peter Krauth, a former portfolio adviser and a 20-year veteran of the resource market – with special expertise in energy, metals, and mining stocks.  I would suggest you read the following article published at Investing.com (https://www.investing.com/analysis/gold-stocks-are-cheap-but-not-for-long-200540131)
Gold Stocks Are Cheap, But Not For Long
It’s not too late for you to buy gold and gold stocks on the cheap.
If you haven’t already, you may want to seriously consider it.
That move might set you up for a run over the next few years that could turn into your single best investment–ever.
You see, gold stocks are churning out some serious profits that are likely to just keep getting

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COVID-19 and the Agendas to Come

23 days ago

James Perloff and Ian Klassen return this week on the radio program. 
Never has there been a greater suppression of liberties in America as this year. It is reminiscent of the Soviet Union when truth about starvation in the Ukraine was being suppressed by the New York Times which mainstream paper is now suppressing an honest scientific discussion among highly qualified medical scientists regarding COVID-19. Why has America, which has always been a beacon of hope in the search for scientific truth, been suddenly shut down by an American elite much to the peril of Americans? Is triggering an economic depression by locking Americans down less pathological than choosing a path of minimal market interference and letting herd immunity run its course as Sweden has successfully chosen?
Those and

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COVID-19 and the Agendas to Come

23 days ago

James Perloff and Ian Klassen return this week on the radio program. 
Never has there been a greater suppression of liberties in America as this year. It is reminiscent of the Soviet Union when truth about starvation in the Ukraine was being suppressed by the New York Times which mainstream paper is now suppressing an honest scientific discussion among highly qualified medical scientists regarding COVID-19. Why has America, which has always been a beacon of hope in the search for scientific truth, been suddenly shut down by an American elite much to the peril of Americans? Is triggering an economic depression by locking Americans down less pathological than choosing a path of minimal market interference and letting herd immunity run its course as Sweden has successfully chosen?
Those and

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A New Era of Fiscal Spending and Socialism

25 days ago

It’s hard to label the markets ether “risk on” or “risk off” this week. Stocks were up and Treasuries were down but silver and gold were up. The hydro-carbon-heavy Rogers Raw Materials Fund was down. But what strikes me is how sensitive the stock market is, not as to earnings or fundamentals that drive the markets but as to whether there will be more fiscal stimulus compliments of Nancy Pelosi.
That brings me to my discussion with Lyn Alden last Tuesday on my radio show. Lyn pointed out that the only thing policymakers can do now that we have had four major debt cycles since the 1930s is to use fiscal policy that will be funded with money printing and the debasement of the dollar. While I shudder to think of the harm that will do, there is nothing in the world that is more bullish for gold

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Rose-Colored Glasses or Reality?

September 30, 2020

Lyn Alden, Michael Oliver and Peter Ball return as guests on this week’s radio program.
Legendary stock guru Richard Russell used to say that stockbrokers became wealthy because they didn’t buy their own B.S.  Washington and Wall Street are known for spinning tall tales of Nirvana. Not surprisingly, the C.B.O now says there will be a V-shaped recovery with minimal further stimulus and that federal debt as a percentage of GDP will quickly level off and remain leveled through the 2020’s. How realistic is that?
We ask both Lyn Alden and Michael Oliver, neither of which ever don rose-colored glasses, about our chances for exiting the current perfect economic and geopolitical storm to enjoy economic Nirvana. Peter Ball join in to provide an update on the latest exploration developments for NV

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Prospects for the Dollar’s Collapse?

September 16, 2020

Dmitry Orlov, Quinton Hennigh and Michael Oliver return as guests on this week’s radio program.
In 2014 Dmitry discussed the five stages of collapse in the USSR and how the U.S. was following a similar path toward destruction. In 2019 Orlov opined that the last nail in the U.S. coffin would be a humiliating military defeat that would take the dollar and the U.S. down. Does Dmitry’s move back to his native Russia suggest he thinks the timing of America’s collapse is close at hand?
Michael’s latest work suggests the dollar is heading significantly lower in the months to come, meaning that the dollar price for gold is heading much higher. With gold approaching $2,000 the timing couldn’t be better for Novo Resources as it plans to start gold production during Q1-2021 at its Beatons Creek

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No Stimulus for Trump

September 14, 2020

This week was again a risk-off week with stocks and commodities down while gold and T-Bonds gained. And this week my IDW also ticked a bit lower.
While I have to a great extent joined the inflation crowd, there is no denying that the massive amount of debt in the system is profoundly deflationary in nature. And with Nancy Pelosi’s Democrats not wanting to do anything to make the life of Americans better until after Biden wins the election, they are not in the mood to help Donald Trump enact another spending bill to relieve the pain of millions of people unable to pay their rents.
I believe Lyn Alden is right when she tweeted out the chart on your left and concluded that “It would likely take far more deficit spending than has been spent, to cause notable inflation. The amount of debt in

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The Role of Gold in Surviving a Global Economic Abyss

September 9, 2020

Bob Moriarty,  Corwin Coe and Anthony Santelli are guests on the next radio program.
Is a V-shaped economic recovery realistic? Absent a sugar-coated version of reality there is no denying the global economy is in an economic depression. And that’s before the banking sector is destined to collapse as Alasdair Macleod explained in last week’s show. Former Finland central banker Pentti Pikkarainen predicts a fallen global financial system will be revived with a new currency regime that will require gold to be a part of it. Just how sick is our global economic system now and how might gold play a role in restoring global economic health as well as your own personal financial health?
Bob opines on those questions and also talk about a book he is writing about Novo Resources, a sponsor to this

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A Risk Off Week

September 7, 2020

It’s an easy call this week. With everything down except T-Bonds, it was a risk-off week. While gold would normally be expected to rise in a risk-off week, keep in mind that last week T-Bonds (TLT) was down a whopping 3.06% while gold was up 1.41%. Gold remains the number one go-to market for safety. For the year, gold is up 27.56% and TLT is up 20.55%.
Was this week’s decline in the equity markets the start of a connect with a global economic depression? While the Trump Administration crows about the bounce back in the economy, from the COVID-19 shutdowns, what is being ignored is the fact that even before the pandemic, problems were arising having nothing to do with the pandemic but with a globally overindebted, sick, dollar-based system.
On my radio show last week, Alasdair Macleod

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An Unexpected Systemic Crisis For Sure

September 2, 2020

Alasdair Macleod, Michael Oliver and Michael Hudson return on this week’s radio program.
Downturns in bank credit expansion always lead to systemic problems. We are on the edge of such a downturn, which thanks to everyone’s focus on COVID-19 is unexpected. On March 23 markets stopped worrying about deflation and realized that monetary inflation is the certain outlook. That day, the Fed promised unlimited monetary stimulus for both consumers and businesses, and the dollar began to fall. Commercial banks everywhere are massively leveraged and their exposure to bad debts and a cyclical banking crisis is now certain to wipe many of them out.
Alasdair talks about the impact on gold from a collapse of global systemically important banks (G-SIBs) and how Central Banks are preparing for a monetary

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The Fourth Turning: Ghost Towns, Murder & Insanity Abound

August 26, 2020

John Rubino and Dr. Quinton Hennigh and Chen Lin return as guests the week on the radio program.
Democratic-party-backed groups like Black Lives Matter and Antifa violently install chaos in major Democrat run cities in an attempt to overthrow the U.S. Constitution. As iconic stores like New York City’s Fifth Avenue lie in waste, boarded up, and as the rich flee to save their lives and wealth from certain confiscation, what will remain of America’s cities? More to the point, as countless trillions of dollars are printed by the Fed in this Fourth Turning, what will be left of the dollar and by extension the entire American landscape?
We listen to John’s views on these topics and find out what that will mean for key markets. Gold of course retains its value against debased currencies. But

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Risk On Week

August 24, 2020

With stocks, commodities, and silver on the rise, this was a risk on week. Why then did long US Treasury rates fall (TLT rise?)? Well we know that’s because the Fed will continue to create more and more money faster and faster to push rates down in order to keep the U.S. financial system from a massive implosion under the ungodly level of debt that the Fed has thrust upon us especially since 2008 and now COVID-19. Our economy is so terminally ill that it can’t take rising interest rates ever again.
On the theory that declining long bond rates result from declining economic activity, in my Inflation/Deflation Watch (IDW), when rates decline (TLT increases) it causes my overall IDW to decline. But because the real reason rates are declining is because the Fed is pumping money into the

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Michael Oliver’s Anarcho-Capitalism

August 19, 2020

I have Michael Oliver on my radio show every other week. Many of those who listen to my podcast in youtube complain I don’t give Michael enough time to speak his mind. Well, this Tuesday, I had Michael as my main guest and for those who listen to the show and would like to learn more from Michael, I would suggest that you buy and read Michael’s book “The New Libertarianism” Anarcho-Capitalism” which is available at Amazon.com.
I have it, I’ve read it and I recommend it, from one Libertarian to another.
You can buy his book at Amazon. 

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Preparing for an Emerging American Dictatorship

August 19, 2020

Michael Oliver, Jeff Deist and Jim Greig return as guests on this week’s radio program.
“The Fourth Turning” by Strauss and Howe predicts America is facing a tidal wave of change during which values held dear since World War II will be overturned. No one individual or elite class of people can stop sociological, economic, spiritual and moral forces. Marxist groups supported by the Democratic Party and its mainstream media propaganda arm are already destroying safeguards of liberty like the 1st and 2nd Amendments. But no matter which party prevails in the November 2020 elections, a fourth turn in American history is underway and the liberties of the past are likely to erode. 
Michael provides insights of interest to listeners into the current markets and shares his views on how to protect

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Preparing for an Emerging American Dictatorship

August 18, 2020

Jay introduces the guest for the show, gives updates on the sponsors and the projects they are working on, talks about the march toward Marxism and decay of liberty. Jim Greig, Director and President Benchmark Metals, gives updates on why recent drill intersection that graded 3.05 g/t gold over 57.91 meters has excited the market. Michael Oliver provides insights of interest to listeners into the current markets and shares his views on how to protect yourself against a tyrannical government.https://jaytaylormedia.com/media/taylor20200818.mp3 Download

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Preparing for a Dystopian America?

August 17, 2020

As I was reading about American society unraveling toward dystopia in The Fourth Turning, I recalled the chart on your left created by a good friend of mine, Ian Gordon. Ian and I recently compared notes on The Fourth Turning written by William Strauss and Neil Howe in 1998. It was a prophecy of revolutionary change in America, which the Democratic party now champions & supports via Marxists, anti-Christian organizations like Black Lives Matter and Antifa.  Following are two quotes from The Fourth Turning: 
“At some point, America’s short-term Crisis psychology will catch up to the long-term post-Unraveling fundamentals. This might result in a Great Devaluation, a severe drop in the market price of most financial and real assets. This devaluation could be a short but horrific panic, a

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SOS! Take cover. It’s too late to turn back!

August 12, 2020

Doug Noland and Dr. Quinton Hennigh return as guests on this week’s radio program.
The current global depression may appear to have been triggered by COVID-19 but the truth is the seeds of destruction for our prosperous free market capitalist system were sewn years ago by detaching gold from money. That paved the way for the Keynesian lie that wealth can be created by a debt-based monetary system. History reveals that every country that tried to get rich by expanding credit has failed. And now the end game for the current dollar-based monetary system is nearing its end.
Doug talks about the current dynamics of this current credit bubble and why there can be no turning back now because from now on its hyperinflate or face a deflationary depression. We will probe the limits of the current

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Inflate or Die!

August 10, 2020

It’s hard to see this week as anything but a risk-on week. Or perhaps what we need to start calling weeks like this are “Catastrophic Avoidance Weeks.” I say that because it’s clear now that the only way the Fed can “save us” from an immediate deflationary depression is to create money more and more money faster and faster. Every time in recent decades the Fed has tried to “normalize” its balance sheet by holding off on buying Treasuries it has triggered stock market crashes. Our monetary system has been given so much fiat monetary narcotic that the system requires more and more of that anti-capitalist toxin to avoid the next financial crisis. Clearly the markets now realize that the Federal Reserve has only one option and that is to inflate or die! That means that a dollar that is rapidly

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The Slingshot!

August 5, 2020

Dan Oliver, Michael Oliver and Dr. Quinton Hennigh are this week’s guests.
Alasdair Macleod has often made the comparison of America’s rapidly declining financial status with that of the French-originated South Sea Bubble. Similar to the U.S. stock market greed now, market greed in France ran unchecked until the system broke down. Then, for fear of his life, John Law the originator of the French get-rich-quick scheme had to sneak out of France disguised as a woman. But his partner Richard Cantillon, recognized the flaw in Law’s dishonest scheme and sold short at the top of the market. The South Sea Bubble is clearly a warning to Americans to exit the current financial markets that are being fueled by the same Kool-Aid-drinking mentality as that of the 1720 South Sea Bubble. 
Michael

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The Slingshot!

August 4, 2020

Jay introduces the guest for the show, gives updates on the sponsors and the projects they are working on and Michael Oliver gives market updates on gold and silver. Dr. Quinton Hennigh, Chairman and President of Novo Resources, announces the acquisition of a neighboring processing mill and accompanying progress.  Dan Oliver, the Director of Committee for Monetary Research and Education, explains what is going on with inflation in world markets that appear to be overvalued. https://jaytaylormedia.com/media/taylor20200804.mp3 Download

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Worse Than Great Depression

August 3, 2020

US Q2 GDP Crashes By a Record 32.9%, Worse Than Great Depression
This was the headline that hit us this past week. While the drop – which was generally priced in – was some 5 times worse than the adjusted Q1 GDP of -6.9%, it was just fractionally better than the -34.5% expected.
Some more details: The second-quarter decrease in real GDP reflected decreases in consumer spending, exports, inventory investment, business investment, and housing investment that were partially offset by an increase in government spending. Imports, a subtraction in the calculation of GDP, decreased.
That said, the biggest contributor to the overall GDP drop was the crash in consumption – the decrease in consumer spending reflected decreases in services (led by health care) and goods (led by clothing and

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Inflation: This Time Is Different

July 29, 2020

Alasdair Macleod returns and Peter Ball visits for the first time on this week’s radio program.
Deflationist Mish Shedlock recently reiterated reasons why he expects falling prices during what is emerging as the most serious economic decline since the 1930s. Deflationary forces in a depression are well established but the case for rising price levels hinges on dollar vulnerability.  Now the Fed needs to fund massive U.S. deficits from money created out of thin air. But unlike the 1930s, the U.S. gold-backing of dollars is a tiny fraction of the 1930’s backing. 
Alasdair believes the dollar’s days are numbered not only as the world’s reserve currency but even as a useful domestic currency. Alasdair makes the case for why Americans may be in for a rude awakening of a massively higher cost of

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Inflation: This Time It Is Different

July 28, 2020

Jay introduces the guest for the show, gives updates on the sponsors and the projects they are working on and says now is the time to buy gold before the price explodes higher.Peter Ball, President, CEO & Director of NV Gold Corp, shares the story of another Quinton Hennigh’s related gold exploration company with projects in Nevada. Alasdair Macleod explains why he believes the dollar’s days are numbered not only as the world’s reserve currency but even as a useful domestic currency. https://jaytaylormedia.com/media/taylor20200728.mp3 Download

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Massive Redistribution of Income

July 27, 2020

Silver had its largest weekly gain in 40 years! Gold had a massive rally too, gaining 5.58%. And the establishment’s risk off play, U.S. Treasuries, also registered a nice gain of 1.77%, while stocks (S&P 500) fell 0.28%. When gold and Treasuries rise as a flight to safety it’s one thing. But when commodity inflation plays rise dramatically, that’s quite something else. Note that the Rogers Raw Materials Fund also gained a hefty 2.17% on the week. And J Taylor’s Inflation/Deflation Watch (IDW) shown on your left cut through the three-year average like a hot knife through butter.

Meanwhile, Michael Oliver’s work points toward a very vulnerable U.S. Dollar on the dollar index. It closed at 94.435 on July 24, which is below 95.64, which Michael notes is the key level above which the dollar

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Common Sense 2.0

July 22, 2020

Bob Moriarty returns as the guest on the radio program this week.
“Common Sense” was a pamphlet written by Thomas Paine in 1775–1776 that fired up members of the original thirteen colonies in America to fight for independence from Great Britain. Paine marshaled moral and political arguments to encourage common people in the Colonies to fight for an egalitarian government. But the America of 2020 has fallen back into a tyranny of elites that have enslaved Americans once again with debt and massive government controls. .
Bob comments on Common Sense 2.0 that has been written anonymously at a time when free speech is only permissible for Marxists groups like Black Lives Matter and Antifa. Common Sense 2.0 is a plea to Americans to throw off the yoke of all kinds of slavery including debt

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Common Sense 2.0

July 21, 2020

Jay introduces the guest for the show, gives updates on the sponsors, says now is the time to buy gold before it is too expensive and talks about the erosion of our constitutional rights. Bob Moriarty continues the interview with Jay. Jay recommends getting and reading “Common Sense 2.0” and Bob talks about the military industrial complex. Bob Moriarty and Jay continue to talk about the topics of the book “Common Sense 2.0” and problems that have arisen from the U.S. maintaining a military industrial complex.https://jaytaylormedia.com/media/taylor20200721.mp3 Download

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A March Toward Hyperinflation

July 20, 2020

The idea that March 23 was a turning point toward a march toward hyperinflation as proposed by Alasdair Macleod remains intact. Yes, this week the Rogers Raw Materials Fund fell a bit, but that’s largely because of the heavy weight that that fund gives to oil and gas, which have been weak.
Support for the notion that things changed on March 23 is given credence from an article in Bloomberg this week by Tim Duy titled, “The Fed is Setting the Stage for a Major Policy Change.” Duy wrote, “For the Federal Reserve, this time really is different. Having learned a hard lesson in the last recovery — don’t tighten monetary policy too early — the central bank is leaning in the opposite direction. In practice, that means the Fed will not just emphasize actual inflation over forecasted inflation, but

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