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OFF THE CUFF

Off The Cuff: We’re Likely Entering A Financial Crisis That Will Spawn A Monetary Crisis

In this week’s Off the Cuff with Mish & Chris podcast, Chris and Mish tackle:

  •  align=Gold: with today’s sharp pullback after an amazing run upwards in the previous two weeks, how concerned should precious metal investors be? Are its fundamentals still strong? 
  • Banks: are we staring at another, and possibily larger, 2008-style bank insolvency crisis?
  • Europe: will the PIIGS pull the Euro apart?
  • China: what impact would economic weakness in China (and signs of stress there are mounting) introduce into the equation?

At this point, confidence is high both a fiscal crisis and susequent monetary crisis are inevitable – and neither is far away. The debate now is: what is going to be the trigger that sets them off?

user profile picture Adam Taggart Aug 25, 2011
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In this week’s Off the Cuff with Mish & Chris podcast, Chris and Mish tackle:

Gold: with today’s sharp pullback after an amazing run upwards in the previous two weeks, how concerned should precious metal investors be? Are its fundamentals still strong?
Banks: are we staring at another, and possibily larger, 2008-style bank insolvency crisis?
Europe: will the PIIGS pull the Euro apart?
China: what impact would economic weakness in China (and signs of stress there are mounting) introduce into the equation?

At this point, confidence is high both a fiscal crisis and susequent monetary crisis are inevitable – and neither is far away. The debate now is: what is going to be the trigger that sets them off? A currency crisis in Europe or Japan are likely candidates, but they have plenty of competition.

The big battle Chris and Mish see the world grappling with right now is: after years of governments kicking the can down the road, as these massive market corrections manifest themselves in full, who is going to pay for the clean-up of this mess? Banks and bondholders want the taxpayers to be on the hook (per usual); but the citizenry in an increasing number of countries is done with bailouts they see as unfair and underserved.

Fireworks are expected over the next few weeks as the Fed gears up to provide signals on it’s future actions from Jackson Hole, WY.

And no surprise, Chris and Mish continue to hold a favorable view of gold as a wise harbor in these upcoming storms.

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Top Comment

Nice edition.  Thanks for doing this Chris and Adam.
Anonymous Author by dps
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