June 14th, 2019(S14-E700)Featured GuestsPeter Schiff & Harry S. Dent Jr. Guest order by seniorityPlease Listen HereInterview RecapPart II with Peter Schiff, head of SchiffGold, Euro Pacific Capitalincludes key insights on the financial markets.The Echo Great Recession could be more intense than the 2008 meltdown.Corporate bonds defaults could trigger an unstoppable financial crisis. Unlike a the last financial debacle.This time the fallout could be systemic leaving unwary investors with few places to hide especially institutions.Peter Schiff is concerned about the debt / leverage in the residential housing market as seen in the echo housing bubble.Given the national Case/Shiller S&P Housing index; caveat emptor notes Peter Schiff.His chief concern remains the systemic risk in the US dollar and related paper assets.The ideal panacea remains gold / silver and related shares as well as non-US investments as safe havens.The host remains bullish on the long-term aspects of the cryptocurrency market.Peter Schiff encourages investors to book profits in the sector and redirect funds to the PMs.Just as Venezuela issued a crypto backed by the national oil supply, Peter Schiff agrees with Chris Waltzek, the cryptocurrency has tangible as well as digital value to the betterment of global society, such as a rare painting.Harry S. Dent Jr. outlines his financial market analysis and forecasts including US equities.The NASDAQ could soar to 10,000 and the Dow Jones Industrials to 33,000 assuming a US / China trade deal.The Federal Reserve Chairman Jerome Powell stunned investors last week with new forward guidance on rates.The FFF reflect a possible rate cut as soon as next month, almost 5 months earlier than anticipated.The EU's central bank chief economic Minster, Mario Draghi noting that he would do "Whatever it takes..." to protect the EU financial markets.Economists interpreted the comments to mean policymakers will print any amount of Euros necessary to maintain the status quo.Harry Dent expresses concern that the traditional US stock market bubble cycle could repeat.The resulting bear market sending key share indexes lower by 70-89%.New Homes Starts have slowed but not yet declined, suggestive of sustained momentum for the time being.Despite the rhetoric of an echo housing bubble, the lower rate cycle could revive demand sending prices skyward.$17 trillion in toxic debt remains on the balance sheets of central banks and major money center banking institutions.Our guest expects economic collapse and runaway inflation, making gold and related PMs investments absolutely essential.The duo both support the idea of holding a modicum core position in a broad basket of cryptocurrencies as a shield.Key takeaway: Harry S. Dent Jr. is bracing for what his models suggest could be an abrupt and unanticipated US financial market correction where unwary investors lose 42% in value with little time to react.
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