Tom Cloud Precious Metals Update: Important Global Financial Developments & Venezuelan Hyperinflation Update

In this Precious Metals Update, Tom Cloud shares important global financial developments including information on Japan, the upcoming Chinese SDR gold announcement and the October SEC changes to Money Market Funds.

Furthermore, Tom Cloud provides an interesting update from one of his sources on the ongoing Venezuelan Hyperinflation saga as the situation continues to disintegrate.  Lastly, Tom discusses why he puts new or existing precious metals clients money in escrow, so they don’t lose their money like several dealers who closed up shop costing investors millions of dollars.

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16 Comments on "Tom Cloud Precious Metals Update: Important Global Financial Developments & Venezuelan Hyperinflation Update"

  1. HR Ellis, in the present system unemployment is a big problem. Automation will change our economic reality completely. Therefore, the political system must reflect the new reality. Capitalism is already breaking down, with the central banksters and financialization spearheading its demise. The transition to the future won’t be smooth, because we’re not ready mentally nor in any other way. Our kids and grandkids are going to live in very interesting times indeed!

    • Glad to see that more and more people realize there is neither crisis nor bad management but it is capitalism itself which is dying at last.

      Yuan inclusion into SDR will have absolutely ZERO impact. China is still decades behing the curve, they have no influence on anything.

      SNB is more powerful than all chinese clowns together !

      • “Yuan inclusion into SDR will have absolutely ZERO impact.”

        I think it will change how much foreign entities invest in China.

      • “Yuan inclusion into SDR will have absolutely ZERO impact.”

        I think it will change how much foreign entities invest in China.

        • Could be but will not change the way financial world is currently structured.
          Even the clown jim willie is admitting it now !

      • “Capitalism itself”? That would be the system whereby the giant banks tied in with the gov’t are able to privatize profits but socialize losses? That’s quite a bit more like fascism or some variant of socialism than actual capitalism, isn’t it? In actual capitalism, if you lose then you lose. Period.

  2. Steve, I haven’t seen any explanation of why our world needs an EROI of 20-30. The theortical cutoff point is at less than 1.

    • Our current world needs 30:1. In a 1:1 world you’ll be cutting of your neighbours head for a slice of coconut. So let’s enjoy our once every 52 months 0.25% dead cat bounce rate hike as long as it lasts.

    • Understanding it takes time, repeated exposure to the ideas/concepts over time, and a shift in consciousness. For those in the Western world, with few time exceptions, food, gasoline, diesel, medical services, clothes, food, consumer good, etc. have always BEEN THERE. That they couldn’t, wouldn’t, or won’t be for extended times with a low EROEI is so outside most people’s experience they can’t comprehend it.

  3. This is a test, since lately I wasn’t able to post.

  4. I’ll take a stab at explaining the EROI conundrum myself: A low EROI makes energy very expensive. Therefore a fragile economy will be weakened further by a low EROI?

    • Yes that is absolutely part of the problem. But also the weakend economy has partly come about due to declining EROEI over the last few decades.

      Another is this gargantuan influx of nearly free energy over the last 100+ years has brought about everything necessay for modern life, including a population explsion

  5. I think Tom is a good guy and is well meaning. But I think he’s wrong about the legality of holding gold at home in a precious metals IRA. The wall street journal ran a hit piece on the topic and the absolute worst they could come up with is that there’s some question whether you’re in the clear if holding bullion in a safe at home but not if holding gold eagles or silver eagles.

  6. China is definitely becoming more important in the world, with its long term visions such as the New Silk Road which will tie Eurasia together like never before.

  7. Yes of course David, abundant and cheap energy has powered the industrial revolutions of the last two and a half centuries.High energy prices and a weak economy would be diastrous. What I see happening however is oil going lower because of the glut, and staying there for a long time because of the weak economy.

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