Bill Murphy of GATA.org rejoins the show with comments on the global currency issues.
The Indian rupee is the next domino to drop as 86% of its paper money was withdrawn from circulation resulting in widespread economic chaos.
Minister Narendra Modi enforced an anti-graft measure to ban high-value currency in Asia’s third-largest economy.
90% of daily transactions involve paper currency, compared to merely 30% in the US.
The once vibrant economy has ground to a halt, as truck drivers abandon vehicles en route, and ATMs are reportedly empty amid a currency shortage.
The long-term implications for the gold / silver market may be profound, vindicating the national passion for sound money.
Small denominated silver coins could fill the currency vacuum, as the typical citizen could be less inclined to trust paper currency for years to come.
China’s retail investors will soon have unfettered access to North American gold / silver mining shares.
Our guest outlines how their knowledge about market manipulation and artificially sniffled price could put a price floor under the sector.
Bill Murphy insists that the PMs sector reaction following the election outcome was classic PSYOP disinformation and a market-manipulation scandal.
The PMs market could represent one of the best buying opportunities in years. Open interest in the PMs contracts has collapsed, presenting an intriguing contrarian opportunity.
Bill Murphy is a former American professional football player, financial commentator, and the chairman and director of the Gold Anti-Trust Action Committee (GATA), which was founded as a result of Murphy’s essays on collusion among large financial institutions to suppress the price of precious metals. Murphy believes the price of gold is artificially low and has spent years lobbying the U.S. government to investigate market manipulation in the gold market. Earlier disregarded as a conspiracy theorist, his arguments were strengthened by a London precious metals trader who became a whistleblower and an American commodities trader, who inadvertently revealed that gold was leveraged 100 times physical.