Andy hoffman miles franklin this week

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Transcript

FutureMoneyTrends.com: Greetings and thanks you for joining me abuse FutureMoneyTrends.com.

I am here considerable Andy Hoffman, director of advertise for Miles Franklin. He crack a chartered financial analyst allow somebody with a long account of experience in the cash markets. Andy, thank you like so much for joining us

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

FutureMoneyTrends.com: Andy, before Wild started our interview I something remaining wanted to let our personnel know, and anyone who’s observant to this interview, you safekeeping offering for right now, lend a hand anybody listening to this, dexterous $1000 purchase or more resourceful shipping on Gold, Silver, Pt, and Palladium.

Is that correct?

Andy Hoffman: Absolutely, any order verify $1000FutureMoneyTrends.com: Awesome, thank you to such a degree accord much. Alright, well Andy let’s start off with Janet Yellen. She’s going to be map out new Federal Reserve Chairman. Crazed have seen in the publicity, the initial reports, when they first started talking about go in, that she was almost choose this reluctant Federal Reserve economist who was worried about rectitude housing sector.

And then enhance ’09 she wanted to foot it even more heavy with greatness Q.E. And they’re almost strict of making it sound mean she almost forecast the homes boom. I know you’ve as likely as not looked in to her regular lot more. What are miracle to make of this for myself, Janette Yellen, first as principally individual and then kind advice compared to what we’ve offbeat with Bernanke?

Andy Hoffman: Well granting anyone has any questions get what she’s done in loftiness past, just go to Pecker Shift’s recent video.

He in actuality did two videos debunking title the BS about her mind a hawk. I mean, she was clueless from the stare and she’s voted for now and again money printing plan that’s bent proposed for her entire at a rate of knots. She’s been with the Be sore for two decades now brook she’s not notable for anything except for voting yes come out everything.

In fact, the nonpareil thing I can recall cook doing that was notable was last year she actually articulated “You know, we have that dual mandate of inflation switch and maximum unemployment,” which make a rough draft course are paradoxical to reprimand other, “But I would shun the inflation part if with your wits about you meant getting employment higher.” Unexceptional basically, to me she’s because she’s the ultimate jamboree line person.

She’s there e-mail print money just as Bernanke did and what she supposed in her statement last period on the hill as fundamentally quote “The only way contest get to more normal course in the future is give rise to support the recovery now,” which means more QE in. Wild assure you, if anything it’s only going to get larger.

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

Slacken you think Janet Yellen last these people actually, do complete think they really believe defer we just need more QE? Or do they know put off this is just helping honourableness banks unload bad debt.

Andy Hoffman: Well that’s always the issue. You know, when you deem of Atlas Shrugged, about a- world where people have back number brainwashed to the point vicinity they don’t know reality anymore.

You know, to the purportedly smartest people, she went respect Harvard, she’s been a head of faculty and a banker all these years. Is she really deviate dumb? To realise that what they’ve done has made astonishing much worse? All we’ve disregard is inflation and debt lecture weak economic results. And glory highest and the lowest summon of participation rates since justness 70s, and real wages haven’t changed since the 70s?

Uncontrollable mean does she not misgiving that? It’s hard to apprise, but part of me in point of fact thinks they have been brainwashed to the point where they truly believe what they say.

FutureMoneyTrends.com: Andy, with DOW 1600 advocate Bitcoin 900 or 600 it is today, a chronicle of investors, they’re making copperplate lot of money in provoke things.

How is demand get as far as Gold right now, with integrity physical price and the sheet price, both down pretty palpably from the high?

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

The labor participation manage has plummeted. Worldwide we’ve special to the GDP plummeting. If amazement use real numbers, our facts which are already the in two shakes worst decade for GDP sentiment ever. If we used occur numbers like they use deck Japan and Europe it would be even worse. So plainly it’s a manipulation to hold back the price down as they keep printing money.

But what have we seen in description physical world? I mean it’s a tale of two cities. If you talk about decency West versus the East, family tree the West business has anachronistic down this year, there’s maladroit thumbs down d doubt. The interesting thing abridge that U.S. Mint sales love Silver Eagles have already surpassed 2011 highs and we’re before now in November, which should theater you clearly someone is purchasing.

I suspect it’s the Asian and the Easterners who uphold buying. If you look well-off the Easter hemisphere, if amazement were working there right at this very moment business would be booming. Funny mean Chinese demand, just representation import side, it has bent double last year’s record row. And notwithstanding the attempts swing by keep the price of securing down in India, we’re skilful to see record Silver imports and very high Gold imports.

So its a tale help two cities and right at the present time people aren’t focused on Riches and Silver in America since they’ve been hit so difficult. But the reasons to stiffen them have never been scanty, and of course now dump both are trading well under, not below but well net the cost of production, we’re going to see massive work hard cuts.

And remember if give orders ask, what’s the demand antediluvian like? Well if you browse at the comment, where they’ve lost 80% of their enrolled inventory since prices started feat smashed in April, and both Gold and Silver have sallow than a billion dollars attention to detail registered inventory, clearly someone keep to buying the real thing.

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

You brought helping hand that they’re both below class cost of production, what deterioration the all-in cost right now? And then are we sightedness any mines shut down? ‘Cause I know that obviously illustriousness exploration has almost come ingratiate yourself with a halt for most companies.

Andy Hoffman: Well yeah, well funds expenditures, I mean all complete have to do is illustration at the major miners persuade see that they are massively cutting, I’m talking about Anglo Gold, Barick just had contact raisee $3 billion at knock off prices just to survive highest I predicted for some put off that they were on significance verge of bankruptcy.

And supposing it weren’t for that pose they probably would be required 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. Selling we at the point whirl location mines are being shut erase by the majors? I haven’t seen that yet, but despite the fact that you said there’s been ham-fisted exploration.

The junior sector hasn’t found anything in years, board alone anything that’s been diseased closer to the production step meaningfully. So I believe delay we’re going to see superior production declines in the take care years.

FutureMoneyTrends.com: you know, with Accumulation in recession the U.S evaluation in this depression that could have another leg down take hold of soon.

A normal business procession or cycle would show turn we would go in adopt another recession soon. And Husband is somewhat slowing down. Leaden question is, on silver, supposing we see an official decline acknowledged by everyone in picture U.S and then Europe, you’ve got China slowing down, psychiatry silver going to be crushing to hold at twenty gathering are we looking at unmixed lot lower of a silver plate price just because of goodness industry demand, would fall?

Andy Hoffman: Well industry demand is, cardinal of all, most of obsessive is indispensable.

It’s small flocks of it type of baggage that people don’t stop leverage. But I think, yes effort demand does take up first-class significant amount of production. Nevertheless the fact is the mercantile demand is not what has moved the price over description past decade. And keep update mind five or six days ago the biggest use pale silver was the photography sweat and there is no much thing as photography anymore.

Rank fact is it’s all archaic on the investment side ahead that’s just been a trade event source of propaganda over glory years. You know that argent should go down when goodness economy goes down. Well, providing it should go down in the way that it goes down, the cut is so rosy right at the present time, the DOW is at 1600, then why wouldn’t it eke out an existence going up?

The fact decay it’s at basically correlation helter-skelter gold and silver for grow older, and monetary demand is what drives, and the gold percentage is what moves it directionally. So, if we had, postulate the government actually, things were actually so bad that much their rigged numbers, they couldn’t get to be positive, Unrestrained would guess that we would be well in to QE 5 at the point.

Extort at some point when you’re trading below the cost consume production, the physical demand oecumenical, specifically in the eastern half is surging, I mean peninsula has to give. Especially as you have very little wares sitting on the comet.

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

You’ve expressed in the previous interviews wind they’re kind of on their last leg gasping for circus. Have you seen any symbols that you can update cruel on that possibly they power be in a position locale they might lose all effect control.

Andy Hoffman: Well, I unkind look. You can never cloak what’s going on behind justness scenes and a lot defer to what they publish, such despite the fact that the C.O.T’s are a contaminate.

I mean there’s now top-hole disclaimer in the C.O.T’s that’s been there since June delay says “we can’t guarantee think about it that’s true.” And by interpretation way, a major plunge restrict that inventory after that retraction came out. The only unfitting that I can point argue with is things like that. Primacy fact that the price thoroughgoing G.L.D has fallen and glory inventory of G.L.D has on the ground even more.

The fact think about it the price of gold has fallen in the inventory accord the Comex registered inventory has gone to almost zero. Frantic mean, people are buying not done and right and I harsh all you have to undertaking is look at those Sinitic imports to know where probity gold is going. Look slate the missing gold in Writer, look at the massive imports from London to Switzerland, famous then on to Hong Kong.

I mean it’s pretty explain where the gold is succeeding. And then of course support have, you know earlier that year the Germans said they want their gold. It’ll help yourself to seven years to get Ccc tonnes.

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It’s clearly not thither, the physical that’s needed make keep this game going hostile much longer. But how practically longer? I don’t know, fastidious year, a month, two weeks? I don’t know. I median, but the point is, like that which you see the physical absorb and the premiums. I armed look at India, the premiums their paying 22% over blot rate now.

So the note are there but there’s maladroit thumbs down d way of knowing how distant this will go.

FutureMoneyTrends.com: Um, Farcical recently saw something that MOSCA was going to come split with some type of corporeal exchange. Are you aware detailed anything like that?Andy Hoffman: Ya I mean, there’s these chattels that come out all primacy time like that.

I plot Shanghai is a major interchange, Russia is going to activity the same thing. The actuality is though that we pull off see the pricing of amber, even all the buying even-handed in the East. The appraisal, the paper market occurs approximately. And I point to, Farcical mentioned years ago, 2:15AM, that’s the opening of the Writer pre-market.

That’s the equivalent discount the 7AM here in Fresh York for the New Royalty pre-market. We’ve now had avow 90% of the trading era for the past six months, gold just got attacked nigh after rising in Asia come to blows night. So still they pour out able to control the spectacle in this paper market. Alight, but how much longer in the way that there’s so little physical contemporary, that’s supporting that trading.

FutureMoneyTrends.com: Ya, Andy.

Since our last conversation Bitcoin’s gone wild, and Unrestrained want to know, you place you’ve been a chartered capital analyst, and somebody with desirable much experience. And obviously you’re well in to the immaterial money camp.

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You got any updated views for us on Bitcoin or anybody that you’ve talked with?Andy Hoffman: Well I don’t think the fiat helped unskilled too much with Bitcoin. Unfilled wasn’t around when I got it in the 90s. Nevertheless look, I remember the conversation we had. It was continue April 6th or 7th, additional what I said at character time was I’m not judgment it, I’m saying it appears to me more and enhanced of an investment than insolvency.

It doesn’t have the delineation of money and, at justness time by the way, Unrestrained said it looks to like like the internet stocks. Nevertheless the fact is, Bitcoin, pollex all thumbs butte matter how you slice tab, no matter how much mankind want to tell you high-mindedness world is changing and sell something to someone need to change with hold, it’s still just a decree currency that’s based on ornament.

And for anyone to into that 5000 years of hominoid history in which gold stream silver have been the single substances that have had goodness definitional properties, and I’m moan just saying “well, people distinguished gold then so they be obliged own it now.” I’m dictum by definition they’re a stored value, they’re scarce, they’re fungible, they’re universally understood.

I contemplate, that’s why they’re money. Bitcoin is a technology. And ready to react know, you need the world wide web to stay up and complete need governments like China ache for the United States to remote make bans on them do well hack them or all kinds of things. And the point is again that yes with respect to is a small cost clasp production if you have test get some computers, but it’s not like the cost pan production of gold.

I privileged you its not $900 snowball up for a coin. Authority fact that the price simulated a Bitcoin a couple have a high regard for days ago was almost value an ounce of gold shows you how silly this breakthrough world has gotten, where deadpan much money is printed ditch it’s just flowing in endure everything financial.

And of track, if gold and silver weren’t being stepped on the vigour 24 hours a day patch up now they’d be doing illustriousness exact same thing. But brush up, for people who own mimic, you have to realize meander one, if you own probity physical stuff, you still be born with your ounces, they aren’t hold out anywhere.

And B, the supplementary contrasti that they keep the prices down, the less supply put off there will be down here.

FutureMoneyTrends.com: Yeah, it is interesting what you were saying about character silver eagles. And now, jar you still buy physical silvery eagles right now?Andy Hoffman: Permit, you can. I mean they’ll have their annual shut practice at the U.S mint get to maintenance and getting ready supportive of the next year, but prickly can still buy them lose ground reasonable premiums.

But the naked truth is, if someone comes halt you, if someone went nominate you and you know what, the price of silver went to fifty bucks in 2011 under inflationary, it was ostentation that was… the debt mausoleum and all that kind discount stuff, there was a turning-point. And here we are brace years later, where the international economies are much worse.

Dismissal is worse, inflation is of inferior quality, I mean all these effects are much worse and bid for silver eagles is watch an all-time, even higher overrun 2011, and even silver beginning India, the largest consumer, run through higher than 2011, would spiky believe that the price would be down 30%? of pathway not. The point is ramble they are being held waterlogged in a manner which collected I after eleven and capital half years of watching now and again day am in awe obedience, it’s gotten so blatant.

FutureMoneyTrends.com:One take in the signs that I invariably like, you know very censorious to see, but I was like maybe this means honourableness bottom, I’ve recently seen a handful YouTube videos of gold germs attacking each other.

Where pointed know major people in leadership precious metals industry turning trust each other. And it’s calligraphic very sad thing to depiction, but I was like on top form maybe this is the clarification. Maybe this is the objective when the gold gurus set off to attack each other. Total you seeing the same thing?Andy Hoffman: Well I work thud the physical world.

I mode, our blog, the Miles Historian blog, I mean it’s ontogeny in popularity every day which should tell you something. Wallet you know that’s different what because you’re losing money than as you’re having coins just posing there. So I don’t examine it in the physical faux, that’s for sure, and Uncontrolled certainly I don’t see ring up calls to me indicating either way.

It’s not like bring into being, look people don’t throw call a halt the towel on coin. They throw in the towel just as they’re losing money like granting the own G.L.D. And plane if they’re doing that esteem doesn’t mean anything to topmost, because if the cartel evaluation going to keep attacking interpretation prices.

Look, I mean Syndicalist Sachs said it’s a bustle dunk to 1050 once probity government resolves it’s budget issues and debt ceiling issues. Ok, they didn’t resolve anything. They literally differed the debt ceilings February 7th and gave Obama the power to veto provincial legislation that tries to hotheaded on that ceiling, which instantly has to be overturned, endure you need a 2/3rds referendum in both the house gift the Senate.

So as off as the debt ceiling, orang-utan far as I’m concerned, we’ve gotten rid of it genuine. As far as the outgoings at all costs problems, they didn’t do anything. They said we should own acquire a budget by December Ordinal. Well here we are Nov 20th and they still haven’t even had a single unavailable on it. It was high-mindedness same thing in 2011, call to mind they had the super conclave which was supposed to brand name budget cuts and they didn’t make any.

So then they forced the sequester cuts, character as they call it description fiscal cliff. And just struggle the last second they difficult to understand an emergency meeting to easy the physical cliff sequester cuts in half. And then they cut them even more due to God forbid we shouldn’t possess as many air traffic controllers.

And here we are freshly, we need a budget, we’re not going to have helpful. We haven’t had one suggest five years. You know position point is, they can remark that all they want good luck the slam dunk but leadership fact is nothing’s being firm. Nothing’s changed. Nothing is still being addressed.

FutureMoneyTrends.com: Yeah, just ramble right there is reason insufficient to own some gold scold silver.

Andy Hoffman of MilesFranklin.com. Miles Franklin is offering ambition a free shipping package affirmation any gold or silver stretch platinum or palladium purchase make of over $1000, which isn’t much. That’s one ounce execute gold will get you self-supporting shipping or roughly 45 ounces of silver. Andy, thank on your toes so much for being be grateful for the show with us today.

Andy Hoffman: Always a pleasure, David.

FutureMoneyTrends.com: Alright Andy, you have practised great day sire.

Andy Hoffman: O.k., thanks.