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January 05 2018

moneymetals

Gordon Chang: Blowup w/ China or North Korea Could Change Almost Everything Overnight

Without further delay, let's get right to this week's exclusive interview. 

Gordon chang

Mike Gleason: It is my privilege now to welcome in Gordon Chang, author, television pundit, and columnist at the Daily Beast. Gordon is a frequent guest on Fox News, CNBC, and CNN, among others, and is one of the foremost experts on Asian economics and geopolitics, having written books on the subject and it's great to have him back on with us.

Gordon, it's a real honor to have you on again, and thanks so much for your time today. I know it's been a busy week for you given all of your media appearances, and we're grateful that you could join us today. How are you?

Gordon Chang: I'm fine, thank you, and thank you so much, Mike. I really appreciate the opportunity.

Mike Gleason: Well, there are many things to cover here given all that's going on right now. We certainly appreciate your expertise, particularly when it comes to the developments in Asia. There's a lot going on in that part of the world with big implications for investors. Let's start with North Korea. That's obviously been at the forefront of the news this week with tensions getting ratcheted up again.

Kim Jong-Un and President Trump are both bragging about their nuclear arsenals. The over the top posturing on both sides makes it hard to gauge just how seriously the threat of nuclear exchange should be taken. The market seems to have stopped paying attention for the most part. Please give us your thoughts on the matter. Is there any likelihood the disagreement over North Korea's nuclear weapons program will escalate beyond words, Gordon, or is this war only going to be fought on Twitter?

Gordon Chang: If you look at Twitter, this certainly is a matter of concern, but I think the reality is much different. Right now, Kim Jong-Un, the ruler of North Korea, is feeling sanctions. We saw a hint of that in his New Year's address where he referenced it, at least indirectly, and at one point he actually called the sanctions an existential threat.

What he's trying to do right now with his overture to South Korea is to get the South Koreans to shovel money into his regime. What he would like in return for sending two figure skates to the winter Olympics in South Korea next month would be for South Korea to lift sanctions to resume inter-Korean projects, like the Kaesong Industrial Complex, and also for more North and South Korean aid.

I don't think that those expectations are realistic. Some of what he wants would be a violation of UN sanctions, and President Trump's policy has been to cut off the flow of money to Pyongyang so it can't launch missiles or detonate nukes. This is going into, I think, a very crucial period, because if you look back in history, and I'm talking seven decades, we have seen North Korea engage in military provocations shortly after making peace overtures. And this whole concept of the Olympics and his opening of dialog with South Korea, that's a peace overture.

Mike Gleason: We've got two huge wild cards at the forefront of all this with President Trump and Kim Jong-Un being rather unpredictable, to say the least. Is Trump's tit-for-tat responses to his adversary here going to make diplomacy harder to achieve as our allies might have a hard time joining in full force to combat the North Korean threat?

Listen/Read the entire podcast here: (source)

September 26 2017

moneymetals

August 15 2017

moneymetals

Rising Tensions with North Korea Prompt Safe-Haven Buying

The U.S. may somehow still find a way to get involved in a nuclear exchange with communists 26 years after the collapse of the Soviet Union – even if it’s with a backwater country whose rockets tend to explode on the launchpad. The decades-long war of words with North Korea escalated last week.

Most of us stopped paying much attention to the outlandish threats from North Korean dictators long ago. There have been plenty over the years as U.S. administrations, one after another, attempted to police the matter by applying sanctions directly and pressuring China to do the same. It is time to tune back in.

North Korea’s apparent nuclear capability, of course, makes this situation different than many of the other wars the U.S. has been waging with Third World countries. But, the stakes are getting higher generally as other major world powers have begun pushing back. Our government’s attempt to overthrow Bashar al-Assad in Syria has pitted the U.S. against Russia. Now China is threatening to engage if the U.S. attempts regime change in North Korea.

Chinese officials declared late last week that they will not tolerate a pre-emptive U.S. attack. They made the following statement via an influential state run newspaper on Thursday:

"If the U.S. and South Korea carry out strikes and try to overthrow the North Korean regime and change the political pattern of the Korean Peninsula, China will prevent them from doing so."

The Chinese have also warned North Korea’s leader, Kim Jong-un, against attempting a first strike. No surprise, China wants to avoid a conflict in North Korea which upsets the status quo and leads to even larger U.S. presence in the region.

North korean rocket

President Trump’s rhetoric on the matter has been a match for Kim Jong-un’s in terms of hyperbole. He tweeted the U.S. military is “locked and loaded” Friday. If North Korea performs another missile test, or attempts an actual strike, the president is building the expectation he will act. That makes it harder to walk back.

Continue reading....

July 03 2017

moneymetals

Jim Rickards on the War on Gold, the Coming China Collapse & War w/ North Korea

Well now, let’s get to the much-anticipated explosive conclusion of last week’s conversation with Jim Rickards, author of multiple best-selling books, renowned economic commentator and portfolio manager.  And we’ll pick up the conversation with a question about the War on Cash and the War on Gold.

Mike Gleason: I wanted to ask you about a tweet you sent out earlier this month – and for people who want to follow you there, it's @JamesGRickards – but in that tweet you wrote:

Just informed that Scotia Bank branch is now a gold buyer only. Will not sell to retail clients. Get it while you can. War on gold is here.

Expand on that here, Jim. What did you make of that move and why did you make those comments?

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