Tag Archives: Off The Cuff

In this week’s Off The Cuff podcast, Chris and Jeff Clark discuss:

• Central banks are now net buyers of gold
• China and India are buying like crazy
• Why the gold’s prospects haven’t been this good since 2003
• Why silver remains the even better bargain at today’s prices

Several years ago, Grant Williams famously explained bullion’s lackluster price action was because “nobody cares” about gold.

How times have changed.

Gold is back at $1,500/oz and appears to be consolidating in preparation of another move higher. As Jeff Clark tells us in this week’s podcast, suddenly EVERYONE seems to care about gold:

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In this week’s Off The Cuff podcast, Chris and Charles Hugh Smith discuss:

• Epstein as a case study
• Having departed so far from our values, what is our national identity now?
• Our political, judicial, media, education and financial systems are captive to special interests
• Where do we go from here?

Sometimes, when the news is breaking fast & furious, content we create gets back-burnered for more time-sensitive material. And when we’re able, we bring it out to give it the sunlight it deserves.

This conversation between Chris and Charles Hugh Smith, recorded a month ago, is one of them. It’s a no-holes-barred exploration of today’s culture, which appears to be drifting far from the values that used to serve as the foundation for society. As Charles asks below, in a society where trust has been eroded and prosperity is out of reach for all but the top 1%, who are we?

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In this week’s Off The Cuff podcast, Chris and Wolf Richter discuss:

• What is the repo rate?
• Why did the rate suddenly skyrocket?
• Why a liquidity crisis is so dangerous
• Will the Fed really start up QE again?

Something completely unexpected happened this week. Banks started running out of cash reserves. As a result, the cost for them to borrow money overnight — the repo rate — suddenly skyrocketed, taking the banking system and the Federal Reserve by surprise.

While the situation appears under control for now, it is not a good sign nor a healthy one for the financial system.

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In this week’s Off The Cuff podcast, Chris and John Rubino discuss:

• Why Negative Rates Won’t Work
• Why We Won’t Bounce Out Of The Next Recession
• The Rich & Poor Alike Will Suffer In The Next Downturn
• The Only Official ‘Plan’ B Is Panic At This Point

Recorded two weeks ago, we’ve only just now had the space to run this podcast. In it, John Rubino does a masterful job breaking down why negative rates are unnatural for a reason — they simply don’t do anything positive for the economy.

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In this week’s Off The Cuff podcast, Chris and Wolf Richter discuss:

• How Negative Interest Rates Work
• Their (Many) Nefarious Unintended Consequences
• Too Much Capital Is Getting Pushed Into Higher Risk
• The High Cost Of Our Relentless Pursuit Of “Growth”

It’s been a surprisingly busy summer developments-wise in the world. We’ve had so much fresh content covering it all that’s it’s been a challenge to publish everything in a timely manner. Some releases get delayed in order to rush breaking news out to you.

Here’s a podcast we recorded with Wolf Richter a few weeks back that tackles the important topic of negative interest rates. They are exploding around the world — over $19 trillion in debt is now trading at a negative rate (!).

The US is one of the only sovereign bond markets left trading in positive territory. And the Fed has resumed an easing cycle, so that, too, may not last for much longer.

What are the implications of a bizarro world below the 0%-bound? They are unnatural and fraught with toxic unintended consequences, as Wolf explains here.

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In this week’s Off The Cuff podcast, Chris and James Howard Kunstler discuss:

• The Shale Oil Booby-Trap
  • Fake prosperity that will tank the markets when it ends
• Could The US Government Nationalize The Oil Industry?
  • It very well could
• The Destruction Of Coherent Ideas
  • To fail to plan is to plan to fail
• What Are We Willing To Give Up?
  • A better future depends on abandoning some of our self-destructive luxuries

In this week’s podcast, Chris and Jim tackle a wide range of issues — from shale oil, to Jeffrey Epstein, wokesterdom, the financial bubble, social malaise, and the future of society. One deficit particularly concerning to Jim is our culture’s inability to have coherent discourse.

If we can’t engage in understanding and intelligently debating with one another, how will we ever devise effective solutions to the many challenges we face?

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In this week’s Off The Cuff podcast, Chris and Art Berman discuss:

• Shale Oil’s Chronic Profit Drought
  • Nearly all companies are cash-flow negative
• Why Drilling US Oil Isn’t Profitable
  • Oil service costs eat your lunch
• Why Drillers Can’t Stop Drilling
  • They need cash to service their debts
• Shale Oil Is A Business Model With No Future
  • When credit tightens, the whole industry will implode

Right now, the US is still producing a record amount of oil, due mostly to shale fields developed within the past decade. But that bonanza won’t last — it can’t last — explains petroleum geologist Art Berman. Nearly every shale driller has been and will remain to be unprofitable. The nature of shale wells and the nature of oil service costs will ensure that.

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In this week’s Off The Cuff podcast, Chris and Wolf Richter discuss:

• Tesla’s Woes
  • A harbinger of what’s coming for many other overvalued companies
• How Bad Could A Trade War With China Get?
  • There will be lots of unintended consequences
• Why The Smart Bet Is On Currency Devaluation
  • Governments will print forever to prevent catastrophic losses from happening
• Recession Ahead!
  • The global macro data continues to look worse and worse

In this excellent discussion, Chris mentions “It feels like we’re so far down the state intervention pathway that I’m not sure that there is a way back to free and fair markets at this point in time. And it would take something fairly cataclysmic I think to upend that, something like an out of control currency accident for China, taking it out of their hands, for instance. ”

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In this week’s Off The Cuff podcast, Chris and Mish Shedlock discuss:

• Next Up: A Currency War With China?
• Recession Warning
• A War With Iran, Too?
• More Cracks In Europe

The self-delusional “Everything is awesome and getting better!” narrative that has pushed markets ever higher for the past years is suddenly unravelling. The current China tariffs will undo any remaining salubrious impact of the Trump tax cuts, a global recession appears underway, and — seriously — are we about to go to war with Iran??

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In this week’s Off The Cuff podcast, Chris and Charles Hugh Smith discuss:

• What’s driving the latest breakdown in trade talks
• The 2 Chinas: and why it can no longer have it both ways
• The dollar shortage in China
• The great global slowdown

The big news driving the markets this week is obviously the breakdown in trade talks between the US and China. In this week’s podcast, Chris and Charles deconstruct the key variables of the situation and explain why they don’t think a deal can get done anytime soon:

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