The Beginning of the End

Recently, we hosted Andy Hoffman of Miles Franklin on a live call. I mean "we" literally because I polled the community before the Q&A, so that we could focus on your questions. 

We covered a wide of range of subject matter. Rather than dumping the entire interview into one transcript, I decided that breaking out the individual questions and answers might be more efficient for consumption. However the full interview is here

Many observers view the current state of world economies and financial markets as being akin to slow motion car accident. Despite propaganda, technology and easy access to information offers the truth for those who have the courage to look. 

The looming question is when? When will time re-engage? 

Andy, when do you see the beginning of the end, and at what point will the masses awaken to all of this?

Andy: As I wrote in my audio blog, called Predictions… By the way, I do not make predictions of dates. There are many others in our community who do, and every one of them has been wrong because we're in an unprecedented world of market manipulation, we're in an unprecedented world of a fiat currency system around the entire world, derivatives, all kinds of things that are making everything that you would normally look at not work.

For instance, having record high gold demand and record low inventories, yet prices plunge and the worst imaginable equity fundamentals in my lifetime, probably in several lifetimes, and yet they get the prices to go up everyday. I don't know if the imminence is as big as the inevitability. I, certainly, with each passing day, write the telltale signs that the end is nigh, are here. 

I've talked about last-to-go markets, meaning markets that they are most interested in manipulating. They want the stock market to be up, they want gold and silver prices to be down because they are psychologically viewed by the whole world, but in terms of everything else, they're getting destroyed. Economic mother nature has won the battle of the currencies, the commodities, the junk bonds. It's now winning even in sectors of the stock market that were market darlings. 

You look at the square IPO today, and Medallion Pharmaceuticals. One by one, the powers that be are losing control of the markets. They still have control of gold and silver, at least in the paper markets, and the DOW, but not much else. With each passing day, with the explosion of debt, with the collapse of the economy, I think we're getting that much closer to when they lose complete control, and that's why you don't try to time anything, and personally I won't touch anything that paper. I want the real thing because for me, it's all about financial defense right now and insurance.

See below for the entire interview…

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