It’s rare that I take one interview, listen to it twice, and replace my weekly blog topic with it.
But this was necessary.
David Brady is an Irishman living in Toronto. he’s the founder of Global Pro Traders
Sometimes these interviews don’t captivate me, it happens, but not this one.
Every time David is on, it’s a must listen. I will post the interview below, and make my commentary on some of the more interesting points.
Palisades Gold Radio is in my heavy rotation, and as mentioned before, should be in yours as well.
Here’s the October 13th interview:
4:18 – David looks for a confluence of things, which is good, but there is one piece missing still. Just because things are down, doesn’t mean you automatically buy.
5:21 – Banks and commercials are long silver right now, which almost never happens.
6:00 – The missing piece is the Fed. Fundamentals don’t matter anymore (I have tweeted this in the past).
10:30 – Great bit about money management and psychology. You are probably guilty of this.
21:00 – This was very interesting, I didn’t think of this. A “Fed Pivot” could be something different than going from raising interest rates to lowering interest rates. They could go from raising interest rates, to doing nothing. David says once there is any change, whether it’s pausing or lowering the number of basis points they raise, the USD will fall, gold and silver will go crazy.
I do not agree with that last sentence. Maybe for like a week or two it could, but I don’t think the Fed has the pull they used to. Confidence has been damaged.
30:30 – If one big bank goes down, everything goes down. David explains how. Credit Suisse and Deutsche Bank already in trouble.
42:20 – Speaking of confidence, once people realize that the FED has only one move, and they just can’t stop doing it, confidence goes away.
I would argue this has already happened to a degree.
50:45 – Gold will reign when the USD finally falls. But when? The great debate. Made a good point where he said nobody is going to want a CBDC at that point either. Something will need to get backed by gold.
52:50 – Depression inevitable. Predicting mid-2023, early 2024. Great reset will come after, leading to a “Dark Ages” period. Fed will need to have a reason for a reset, and will use the depression as the reason. It’s all been planned for a long time.
56:30 – Something will break, and soon. Stocks, bonds, housing, something. Between now and 3 months tops.
58:00 – Silver being drained everywhere. We’ll be talking about this soon. 😉
1:00:00 – When PMs do go ballistic, most of the retail traders (you) will have already been washed out.
Which side will you end up on?