Welcome to USA watch.com what does a brand new guest I don't want to get this person on for a long time I've been following her work for years and I just had an embarrassment in bookings and I haven't had a run but today is the day she's going to get on deep Wall Street experience she has experience in commercial banking investment banking currently she is the chief market analyst at ICM trading out in Phoenix I'm talking about Lynette Zang let as a thank you for joining us today on USA watch.com well thank you for having me on it's really an honor well your honor to have you on and reading your work for yours you're a smart cookie and I want to start with this US dollar I mean I'm watching these you know a last Thursday and minutes down a third of a percent in a day before noon or something and the dollar has been tanking I mean it was way up above 100 not long ago and now it's like a 95 land or what's going on with the dollar and what's going on with let's go so with a dollar what's going on with a dollar in your estimation okay well I think what happened was Mario Draghi when he was talking about running off the balance sheet and then what did you see you saw the dollar against those other currencies and that's really what's happening but I think a little longer term picture with the dollar is really more about all of the debt around the world that's denominated in dollars and a strong dollar really hurts those other currencies when they have to you know repay that debt in terms of dollars so you think they're forcing the dollar down you think the dark power is not it there's not an honest market out there I mean let's face it I mean I don't even watch Bloomberg overnight anymore I just look at it other futures down futures are up at you know I don't know watch it anymore it's sad I don't believe it so you think that the that they are manipulating the dollar lower to help keep the world economy from imploding exactly yes I do there's so much debt out there that's written in terms of dollars yet corporations don't earn those dollars so they have to convert those currencies and you know and on top of it I think we're getting ready for a money standard shift I mean that's what's essential angers have been talking about for quite some time now and I believe them what does that mean a money standard shift I mean we're going to have a new paradigm new world reserve currency absolutely right now the system is built on debt and the debt all the interest on the debt and servicing that interest eats up most of our income so we it doesn't work anymore the system doesn't function and I could show you what I mean actually because on this particular graph from the Federal Reserve this is the monetary velocity or the speed at which money changes hands so it indicates whether or not an economy's being stimulated well as long as they could build debt and that debt I mean if you go out and buy a car today on credit that debt stimulates your economy today you have to pay it back tomorrow but it stimulates your economy today so in 97 we hit peak debt and then after that it was downhill so yeah and so what happens to do all the – all the pensions what happens to all the debt what I mean whenever I mean I tell people I see them all the time when I'm on the street and just just general people say hey we owe now 20 trillion or so in debt do you think you hold that Nell was look at me almost nine out of 10 times no no I know that yeah you do I and so what happens to all this debt what happens to our standard of living when they have this reset or you know whatever you want to call it a new monetary system whatever what happens to that to all the people with debt and all the people who think they're gonna get paid from their bonds and pensions and whatever well there are a few different questions in there number one regarding the pensions they are so severely underfunded that the choice to pass the law in 2014 was that corporations could under fund them even more so you know what happens when you know you're going to declare bankruptcy if somebody gives you a credit card you spend it because you know you're not going to repay it so I think really that is a lot of what's happening inside of the system the pensions will go away the Teamsters ran out of money I believe it was March first and UPS just the other day said that they're freezing the pensions of 70,000 employees so people may feel safe but frankly if you don't hold it you don't own it and when the computer says no what are you going to do so you think anybody where the pensions going to get creamed even a government pension because you still have the go-ahead yeah you got anybody where the pinch is going to get creamed yeah absolutely anybody with a pension anybody with a 401k anybody with an IRA any wealth that is held inside of the system because there's really it's not there it's err it's been leveraged with all of the derivatives which are bets against all of that plus it's severely underfunded they can't pay the promises so you know even Social Security people will ask me about Social Security all the time well that's been underfunded since even before the baby boomer started to take Social Security and you know do I think they're going to halt it no I think they'll give you dollars it's just that the dollars won't buy anything so that's why the system has to reset because I'll go back to this this is this is probably the most important chart that I'm showing you because look it this is monetary velocity let me kind of explain that a little bit more if I have a good week and so I've been looking at a car and I say you know what I had a good week this week I think I'm going to have a good week next week I can afford that car so I go and I take on that debt that stimulates my economy today and I'll pay it back tomorrow okay well what happens if I lose my job and I can't pay it back or what happens to all of that compounding interest so if I can't spend my money that's what we're seeing here people are not spending money people do not feel confident that their income is going to be there or they just don't have it because inflation grows faster than wages so that's what I'm trying to show you is it's you know the dollar we I mean all that is dog-and-pony the real thing is is they can't stimulate the economy by growing any more debt the system is based on compounding debt so it has to reset and any wealth that's in the system gets reset too and so what about let's get to the to the your big call recently that you said silver was going to six hundred and gold is going to go to eighty nine hundred and I've been reading your work for a while and also knowing you make this big call why now what has changed well first of all somebody asked me but I do think that we are at the end of this cycle and the way that I make the call is by looking at history because all currencies have a life cycle and at some point when that mechanism no longer functions it has to reset so in the current iteration based upon debt you know you have to when they do the reset they take the currency that has no intrinsic value it's only used in one place and you can't eat dollars either and they revalue it against good money gold which is all intrinsic value because it's used across the entire spectrum of the global economy and it is decentralized money no central bank really controls gold everybody knows that it's money so that's how they do that I'm going to get a little more outrageous here too so since most countries no longer publish how much money they've created but we do know well we might know all of the debt that they've created you can use the debt as a proxy for how much money they've created and with gold being good money there's a finite amount of it whether it's in the ground whether it's above the ground in any form that it is it doesn't matter so just to simply get somewhere in the vicinity during a reset you just divide the debt by all the goals that exist and then that gives you somewhere near its fundamental value but now and right now or at least the other day when I did it it was 89 24:07 and 594 93 for silver or an ounce of gold an ounce of silver correct here's a bit lower now this is just straight bullion just straight out carry gold yep yep but now I'm going to get a little more outrageous to people might think this is outrageous the more debt they grow the higher that number goes so I actually cannot tell you what that number is going to be when the reset actually occurs it could be a trillion dollars by that time I mean it's a racer growing debt who knows it's just that we've been taught to think that dollars have value so that's why that sounds outrageous but in reality Gold's most important function is to hold your wealth even and that's what it's done for 6,000 years and why did you back in my original question so I mean all of a sudden you're out with this call I mean you could have done this call at any time a debt has grown and grown I mean obviously I mean when Obama took office you know the debt was about nine trillion when Bush took office that that was about four and a half trillion I mean every president seems to bit you know double the test I can't imagine Trump the jokester doubling the debt I think you'll proceed over a bankruptcy in a default and a liquidation is what I think you as a proceeding over they can call it whatever they want or reorganization whatever but why don't you come out now what were the warning signs ding ding ding ding ding ding you know what this is getting out of control what were your warning signs well I have a few warning signs actually I'll go back to the monetary velocity chart because it's lower than it was during the Depression so no matter how much more debt they've grown you can see that it's not working anymore okay but beyond that but that's not going to stop them that's not going to stop them from packing more get into the system that's not going to battle stop them from buying more bonds printing more money doing all kinds of nefarious stuff doing more crime we're rigging that's not going to top that more suppressing of gold and silver right here they could suppress obviously I know it's the press okay I talk about that every I talk about that all the time so you're saying that they're going to keep doing what doesn't work is what you're saying exactly because what her bankers know they know debt and they know leverage and with you know the stress tests and also with with President Trump going in he will probably get a lot of the stimulus packages in place he will also probably deregulate the banking system and so the leverage levels what they didn't talk about in the stress test is the extreme levels of leverage that are already in the banking system now they do have the minimums and you know there's no maximum but they do have the minimum you've got several banks that are close to that but you know I have a little problem with a stress test too because a really designed for your confidence so nobody back out let me let me let me bring everybody back up to you so warning sign number one is the velocity of money is tanking so you're all of a sudden you're saying wow this is not turning around so your big warning sign velocity of money peak debt 97 as you say and that chart just going straight almost straight down so they have the wording guy so warning sign number two is that the banks of this week and phony stress tests no that is that is why I think it's getting very close okay this is warning sign number two is this again from the Federal Reserve the purchasing power value of the dollar so we have four cents if we're going to believe that that's accurate so there's a very little left for them to inflate away yet that is the only tool that they really have okay so that is really warning sign number two is there's almost virtually no value left to inflate away then warning sign three is this which scares the heck out of me now this is the velocity or the VIX on the ten-year Treasury which is the foundation of the global financial system and you can see these dashes here which was easy price discovery and that would make sense as the foundation of the system the crisis hit in 2008 and the dashes became lines as the government's managed what was happening in the bond market with all the QE and Operation Twist and all that kind of thing but look at when they handed them over to the to the traders so the foundation of our system is in the hands of traders and if this was an EKG how long can that go on longer than you might think but it certainly can't go on forever and what are the violent lines mean what are the violent lines being to the home gamers do this because people are just watching or say oh man price movement that's that's price movement okay so you have the dashes if you woke up in the morning and you are going to buy or sell a Treasury you'd pretty much know what you are going to get or have to spend on that Treasury here it was a little bit more challenging because now you have lines but still you had a general idea of what you are going to get on the Treasury this I mean the price action is really all over the board on your Treasuries okay it's hard and that's because this market on the secondary market is illiquid right when they first come out you've got all the banks and you've got all the central banks that are buying up Treasury bonds but after they come the off the run in the secondary market you're truly doe buyers so this is traders they're not even buying the bonds really but it's just it's a derivative on the bonds so that's what that is and that shows I mean I don't trust Wall Street not to make a mistake do and you and you think that the volatility is a sign that there's no there there there's nobody wants to buy those bonds after the central bank's use their printed money to buy them and then they try to sell them off and you're saying nobody really wants them they're just gaming the system well I say that yes because they said that the Treasury has admitted that there is basically no buyers in the secondary market now they can have pension pant plans buy it and I think that's what he's been absorbing a lot of this debt but essentially I'm saying it close mates edit and when they reset this thing those those bonds what are they going to say they're going to say hey all those 10-year Treasuries we're going to give you five cents on the dollar I mean what how's it going to look well okay I mean that's a great question really glad you asked okay this is a little longer chart on the purchasing power but I want you to think about this anything that is created from dollars pays you back in dollars or pays you out in dollars when the dollar goes to zero what do you think happens to those instruments so the bond I'm sorry but the bonds the annuities the ETS the mutual funds you know any stocks that you hold inside of a brokerage account your dollars themselves whether they're digital or real when this goes to zero what do you have you have nothing so it doesn't matter Wow you're saying that they're going to let it get to a point to where hey we'll give you your money the net cost of coffee you're buying this is 72USD the hikin is 140 bucks I don't have your pension we'll give you your your Social Security you're saying they're just going to get that hyperinflation view yes yeah because the system has to reset there's no other choice they you know I mean you saw the monetary velocity so taking on more debt no longer does what it was supposed to do plus you know central banks have interest rates as one of the tools to quote-unquote stimulate the economy so if they want to stimulate it they just drop interest rates down and then presumably or in Ceri anyway people rush out and borrow and spend so that stimulates the economy but we know where the interest rates are these days they're at zero and here's the problem with that okay so this is on the the said funds rate which there's a whole story about that but in black I have what the interest rates were and in red I have how far they drop them from the height of the low to stimulate the economy and what do we have here you know I mean at least five percent or more is what they dropped it to attempt to stimulate it which as you saw didn't work anyway so here we are and this is actually the interest that they pay the banks but okay so this next crisis I mean Janet Yellen actually said I'm trying to get the interest rates up to three and a quarter percent so I can lower them during the next crisis okay we're not going to have a crisis ever again in our lifetime and I forget what you said I know you like that guy I know you'll average it I got this meant to be a joke when I read that Ed line I thought what we're never going to have another crisis oh we'll have another crisis which is not in our lifetime but unless you're planning on going out and being struck by lightning tomorrow or in the next six months or whatever do you think that we crashed by this fall do you think it all goes away just you know I hate to get pin you down to a date but a lot of people are pointing to this ball one big market guy said oh by February of next year at that whoo Wall Street will front run that do you think do you think this fall is going to be the you know the new budget is going to be going to try to get that in in September you're going to have all kinds of other things going going on in September October are you worried about this fall I'm worried that it will happen before the end of this year and I think that that's part of what they're trying to do with getting all the regulations and you know going back to those stress tests which is where we kind of started this so once they passed the stress tests now what are they doing they're doing all these huge dividend payouts and they're doing all of these stock buybacks which primarily benefit the guys on the top okay so I think they're getting ready for the crash and if they can hold it together then they're going to want as much wealth out of the system you know that I'm talking about you know the one percenters the guys that are really driving this so if they can do it before that and hold it together then we might have a little bit more time but any Black Swan event then it's going to be out of their control and it'll be game over and we're actually happen anytime and where are they good word of one percenters putting their money obviously not dollars not euros not reals not you know where are they putting their money a bottle and artwork what are they doing with diamonds right they're doing tangibles you know they are doing so they are doing real estate they're doing gold coins they're doing actually collectible numismatic gold coins quite a bit but remember to the foundation of dynastic wealth so wealth that lasts and families at least 300 years has three legs it has real estate gold and rare collectibles so that's where I believe and I have some evidence on a bunch of stuff and particularly in the gold area that that's where they're putting their money and you I know you guys at your trading company that I TM trading a deal in rare coins and also just pre 1933 uncomplicated I just I find it hard well again yeah boy okay good I thought I find it hard to believe that Congress is going to pass a law and I think every senator at least every senator has a stash of gold US Eagle bullion coins you'd have to be crazy not to and I think I think I'm gonna be hard-pressed to say hey all that stuff we sold you since 1986 yeah that's all that legal turn it in I find that hard to believe they may get a Krugerrand and Maple Leafs and other stuff but I find it hardly they're going to confiscate that am I wrong am i all wet you think they'll confiscate gold well I'm finishing up a research piece on that right now and I have done Studies on the laws that are on the books so there are fully laws on the books that give them the right to do it and actually when you take a look at what like Paul for example I mean frankly who knows more about the Federal Reserve and the monetary system than him and he only buys numismatic coins so on the books yes they can absolutely do so they this is what I think it would look like since they control the spot market let's say spots at 2000 bucks when that happens okay and a catastrophe happens the whole world is falling apart there's war there's whatever they'll say turn in your gold and it's your patriotic duty and by the way we'll pay you 4,000USD for it well most people not understanding fundamental value just like 71 just like 33 they would say well wow gold is only worth 2,000USD and they're willing to pay me for okay and so they would get a lot of easy cooperation so they do a big sweep if you're holding gold in the depository most likely they'll do a big sweep there and they'll just leave a bunch of digital dollars then once they do that that's the reset and I actually have and when they force you to do that or just entice you to do I can't imagine Trump would force people to do that they're going to entice you to do it not up by not giving you the true value but not force you to do it they'll entice you to do it see I have a theory on this to hold on before you answer that I think at some point it will get so bad that that somebody from the Treasury will say hey listen you know what you can take those Krugerrands and those any American Eagle coin and you can take it to a car dealer and you could buy a car you can put it down in a closing table it just has to come back to the bank to the Federal Reserve System and that's to come to us easy go ahead and spend that do you think that's I think that's more probable than them coming door to door and say sizing papers get as you're going well yeah I would agree that the know things are going to go door to door because most Americans have been well taught not to own gold okay and you know you can see jewelry is also a form of money but you know they probably fought that in Venezuela as well or I don't know how about India that is heavily holds our wealth in gold in forms of jewelry and they're going door-to-door there but that country is more tuned to gold than we are so I would agree with you that I do not think that they're going to go door-to-door but I would disagree with you because if you don't think all of this market manipulation and all of this inflation is not a form of confiscation it's hard for me to believe since they've been doing it to us since the day we were born unless you were born before 1913 that they would magically stop at the very end and allow you to hold your wealth and you know part of that might also have been influenced by the fact that you know when I say I started in this industry in 1964 it's really because my uncle was a major antique dealer back east and he was my favorite uncle so I spent a lot of time with him and in 1964 I'll never forget it because it made such a huge impression on me we were over at my parents and I were at his house and he took us in this back room where he had a bunch of safes and he opened up these safes and you couldn't even fit one more coin in there not one more coin and he said to my parents in anything happens to me aunt birdie will be well taken care of for the rest of her life because of this goal well 1964 it was illegal for the average citizen to hold gold but when they created that law in 33 knowing that what they were going to do to the currency for themselves that's when they created that the collectible area of gold so that's how he got around it staying within the legal letter of the law but interestingly enough right around that same period of time they actually made it legal for u.s. citizens to own gold certificates again they weren't convertible into physical gold but you could own the certificate and at that point gold was 30 five dollars an ounce so after the confiscation they reset actually I could show you that they reset the goal to 42 dollars and 22 cents which is this official price and then you can see the reaction to gold during that period of time okay I mean some of you if you were alive then you know you remember it went to 8:50 intraday well this is how those numismatic coins behaves they moved right along with it but the difference was then gold went into a bear market because it was now being mat managed by the spot market which was created to dwarf the physical market they knew there was going to be an initial Russian and so bullion or spot was managed by this market but not the numismatic so the run didn't concluded until 89 and you can see that in the graph so everything was temporary the stock market was imploding the dollar was imploding almost lost its status then so we say that can't happen but you know I didn't know at that time and I'm pretty sure my parents and my uncle didn't know at that time that he could have bought a gold certificate that afterwards my goodness was convertible into gold again who do you think knew about that so when you study the laws and you see what they've done I you know I could be wrong but here's the reality when they read that the fundamental value of gold right now is eighty nine hundred bucks you can get a lot of these coins for maybe twenty percent or something like that of the fundamental value so it doesn't matter if I'm right or wrong and I want the gold I can use as you think that there will be a silver there was ever a law about cops skating silver because such an industrial powerhouse metal that who knows what would happen in the future but you're saying that would you would you be a buyer of silver eagles silver coins junk silver would you be a buyer that I am most definitely that's perfect for bar durable but actually silver was confiscated back in 33 and if you remember they removed silver from the coinage and President Johnson warned anybody that was going to hoard that silver that they would drive that those prices down if that were done so yeah I mean history supports this and that's what I go by you know you better I was just in without it you're much better with the thing with that or not I'm thinking so yeah I like them both you need both it just depends on what you're trying to accomplish and some people think they can put their money in the bank and I want to just touch on the stress test it just happen in June just this month and I mean here we have 34 I think 34 banks I remember this right you know have a 230 trillion in derivatives some of the biggest banks the five biggest banks scuse me have 230 trillion dollars remember JP Morgan City a Morgan Stanley Goldman Bank of America 230 trillion dollars in derivatives in just these big banks and they say that if it blows up you know this is what the stress test says everybody passes that they only have about you know less than 500 billion dollars in losses that they'll have with credit cards and loans and stuff like that does that make sense to you are the banks really all stress test strong now or the you know fortress balance sheet as a debut Jamie Dimon would say no not at all I have I have gone in that rabbit hole I go in that rabbit hole all of the time and here's the thing number one whenever you hear somebody say notional or nominal automatically know that you have no idea of the value that they're talking about so when they report the value of derivative it's always in nominal terms which means again nobody I mean the IMF admits that the FDIC admits it you know the Federal Reserve admits it nobody really knows what the real value is at risk because these are just a bunch of bets that's all they are so that's number one number two if you look on the Office of the Comptroller of the currency on spreadsheet you'll see that like 93 or 94 percent of them are over-the-counter and they're either bilateral or trilateral trade which means they're either between two or three entities so that also means that there's really no broad market for them now what's really grown since the crisis is that they have created a whole bunch of new derivative products and stuck them in mutual funds and ETFs and well ETF themselves are derivative I mean they're all derivative which is why you say your 401k is that risk is full of derivatives even if you think you have stock your is okay okay continue yeah exactly so you know how can you even and then on top of that to make it look like the derivatives have gone down they are now doing compression which makes it look smaller and they're doing necking which makes it look so they've got all these fancy terms and I have something from the Bank for International Settlements that shows how it could start out with notional value of 435 trillion or billion or whatever and then as it goes through these different processes by the time it gets reported it's nine yes so the leverage in the system is outrageous you know I just want to back up here do a little of your experience I mean you worked at Lehman Brothers back when Lehman Brothers was a powerhouse in the nineties you left it in the late 90s you've been at your job I think where you are now and so you know the early to thousands but what was your perspective when you left Lehman Brothers you probably that was a strong Bank you hear you have that you're part of your investment banking experience and then you must have been watched in shock when it imploded in causal crisis you must do in like what happened and this Lehman Brothers this Lehman moment is what they call it get this happen again in kent/des hazard with not just one bank but five or ten banks can't this lehman moment happen again well I'm really glad that you asked that because you know it was my alma mater and that is actually where I started studying about currencies in 87 and back in those days you could actually talk to the head of any trading desk or any department that you needed to so when I stumbled across what was called non dollar denominated bonds that was all about currencies and I spent every morning with that wonderful brilliant woman discussing this so you know yes I have a strong affinity for Lehman now I have a bunch of formulas to help me track where we are in the trend cycle and what I saw when I study currencies is that like everything else currencies also have a life cycle I have grandchildren that are two and almost four and I can tell you they're at a different life cycle a point in their life cycle than I am in mine so by the time I left actually it was the formulas that were indicating what was happening and again in the end of the 90s you know we had long-term capital management and that was all about derivatives and that was the first derivative explosion so between the debt levels and no longer being able to stimulate the economy and then the first derivative explosion with long-term capital management when they said no we're not going to put any oversight around this quite honestly which is very scary to me plus the formulas were indicating that we were starting to transition into the end phase so yeah when Lehman and that's when I came to ITM and I built all the databases to track everything etc so when when this was unfolding actually the indicator started pointing to a big problem in August of 2005 with the real estate bubble and then in July of 2007 a singles July 9th I'm pretty sure the dollar index against the standard basket dropped to its lowest level ever that was an indication to me that something very nasty this way was coming and anybody that I was talking to them and reading my work that's what I was saying so yeah following March is when Bear Stearns went out and then it started to create a domino effect but no I could not believe that they would let Lehman go out there around for like 125 150 years putter's they worse yep the the prestige that Lehman ensures and Lehman in America to spend all of those iterations over the years and I'm watching this with keen interest and I kept saying to myself no way no way will they let them go down I mean I knew they were in trouble just like everybody else but I just couldn't imagine that they would let them go and you know that goes back to these things they could make a mistake very less so and I want to fast forward to everyday we just got the stress test you've got all your models let's fast forward to today and what are you seeing are we seeing history repeat itself in spades right now Oh in space now Lehman was officially classified as a global Universal Bank and that means that they are fully integrated on a global level hence systemically important financial institutions okay this is from the International Monetary Fund from a report they did on deutsche bank stated that deutsche bank because of its derivative portfolio and its high leverage is the most dangerous bank in the world but look at how everybody is interconnected and I don't know if you can see this but there's oh it looks like spider webbing in between yeah okay well what they're really showing you is that the whole global banking system is incestuous ly interconnected so yes the Big Bang but also it would be credit you any financial product credit unions community but everybody is incestuously interconnected so wherever it starts whether it's in the US or it's in Germany or it's in China which it could definitely happen you know started China but wherever it starts its global and and here's the other part of that so hold it so wherever starts in your estimation whether it starts at a Georgia Bay or at you know at some US bank or some Chinese bank the whole thing goes poof exactly and that's not my estimation that's the IMF estimation so they're the IMF is saying and that's the next calamity and there's zero interest rates or about 1% or whatever we got we printed tons of money we grew another 60 billion excuse me 60 or 70 trillion cents the last crisis how much more money we're going to print your chart philosophy of money that comes to mind so you're saying that the next crash is it is it close and what it happens it will make 2008 look like a party I mean explain what happens in the next graph and how close it is how close is it what happens do you think that they can make a you know going back to that chart do you think there's a possibility of them doing everything absolutely perfectly like Deutsche Bank has something don't hold me to this because I don't have this in front of me but I think they have something like 2,000 or 4,000 pending lawsuits against them which means that they got caught that many times you know I mean just deutsche bank alone you think they might make another mistake with all of this manipulation so it's going to be dependent upon if a Black Swan event occurs that they are not expecting won't be something they're expecting they'll be able to cover that up just like you know Puerto Rico's debt default and Greece's debt default and the guys that write the derivatives get to choose whether or not that's actually a default uh-huh okay so you no they can keep the game going until confidence is lost once confidence is lost it's over and I do think it's closed because these stress tests with them now returning a whole bunch of money to the quote unquote shareholders which are primarily the Big Kahuna's that are going to benefit from this they're sucking as much wealth out of the system as they can and we see that every week I do an inside and training trading corner where I show you what the insiders are buying and what they're selling generally and then I do an individual stock and it's pretty obvious you can go on the Nasdaq just Google a stock insider trading Nasdaq I go in you can see it for yourself the insiders are getting out in droves this is the second most expensive stock market in history more expensive than 1929 and there are no buyers on the other side of this market if a lot of people want to sell at the same time because they in 2008 they still had well extraordinary tools to use right they started paying bank interest to hold reserve which is how they now regulate interest rates which is kind of interesting is on how much they pay is a bank not how much they charge them because they charge them less than they pay them okay so it was for the first time ever paying interest on reserves look at the negative interest rate environment and trying to get people to borrow and spend money a third of the European bonds out there are negative interest rates you're paying somebody to borrow they've got all of the quantitative easing I mean you know here's the question do you think they can do more of this yeah or this yeah or this they're peeking they're all peeking and once they once that that went flat they are doing is reverse repos so and the globe has done the central bankers have done miss Rona – Sears pardon grown the debt right so here's where the crisis hit I mean you're saying it's closed based on the fact that they're out of options the rich people are taking their money out and then my next question which is the part two of this question so I find out that there's some Bank that goes under on Friday evening of course it'll be Friday evening and you know all weekend long you know people are you know taking their chairs out of their offices they're Arriflex chairs and grabbing their computers and taking what they can and freaking out and Monday morning I wake what does it look like for a Joe man on the street what does it look like after we're these big banks goes under and takes the whole financial don't take your brokerage you say if you're saying your brokerage is going to be at risk two brokerages credit unions any of your bond stocks all the banks everything's at risk what does it look like for Joe Sixpack on Monday morning at one of these big banks go under okay well number one the Bank for International Settlements showed and created a template of how they would bail in the banks over the weekend with or without insurance the deposit insurance so when that happens on Friday I mean it's pretty easy to see if you look across the pond to Greece you will have no access to your wealth you may have a pretty statement that says you have X Y Z in here you just can't touch it the same thing with your bank account now they're trying to push everything into cyberspace so they may give you access which is what they did in Greece as well they may give you access to encourage you to have hold all of your wealth in cyberspace but basically access will be gone and that's what it look like and people are going to be freaked out but you know what do you do when the computer says no there will be a certain level of cash in the ATM that you will likely be able to access who knows maybe 60 bucks a day maybe three under bucks a day but it's not going to be enough so that's what it's going to look like and people will start to freak out because most people have about three days worth of food in their house most grocery stores have about three days worth of food on their shelves so what happens after day six maybe they have more in the warehouse in the back you know it's hard to say but you know I think probably people will be scared for sure and and they'll panic but it's going to be it's going to be very challenging for most people I'm sorry to say and you think this is sooner than later oh I don't see how they can keep doing this I just I just don't it's too volatile and when you get the traders involved you know I mean I know I keep going back to that but if that was an EKG and we were having a heart attack how long can that last before something you know guys system is breaking down right and it's been on life support it really died in 2008 and and by the way the IMF has actually said we need a really big crisis to conclude the money standard shift so you know part of it we think that they want to postpone it forever well they don't know no let it say tell us just a little bit about your business I TM trading you guys sell bullion coins stuff like that newest attics and we you're a full-service dealer correct yes no securities no stocks no bonds none of that know that in your last iterations of your career but you just do the real stuff the real stuff because if you don't hold it you don't own it but what we've also done over these years is we've developed a pattern a strategy based upon repeatable historic patterns because this is really about wealth transfer so you want to be in a position to have the wealth transfer your way so when we're working clients we really want to know what they're trying to accomplish what they're what they specifically do they have errors in not what do you mean really what do you want to do what are your circumstances and then we give guidance through all of that we create a strategy and whatever it is that you do whether you know if you do the strategy with us whether you have bought it somewhere else or you buy the metals from us we put it into a personal booklet that you can keep with your metals and hardcopy it's not big it's little but it'll show you how to use them when to use them where to use them when to shift you know from one asset into another income-producing asset so it's a very holistic and consultative approach that we take here as you write for IPM training the website is it ICM training com yes it is again and you are outside i'll put lace – IPM training you put your your place where you know Lynette's writings whatever it is I'll link to that as well link to your company website let it say this is going to only go to be 20-25 minutes and it's going on for almost 45 minutes which I was just fascinated I just figured I kept going because I was interested and I'll have you back on if you'll come on ma'am I really like you I really appreciate you coming on in and lightening us thank you so much oh and and can I just say that really most of my work is we do these little I try and keep them to five minutes I'm not always successful but on on Tuesdays and Wednesdays and sometimes Thursdays if I'm doing an interview we don't do it on Thursday but Tuesdays and Wednesdays I do what's called a flash of five and the insider traded quarter and where I'll take one headline topic and then show you the underlying data the truth of it so that's on our YouTube channel so that's YouTube IPM trading yeah we have most of my work you send me all your stuff and I will link it I'm sure you're getting a lot of fans that I want to follow you because I I've already followed you it took me a long time to book you but thank you for coming on us a watch let's say thanks for for ITM trading comm lens bank thank you for joining us today on USA watch.com oh it's been a pleasure thank you so much and yes I will come on whenever you want me to okay bye bye bye
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