QUESTION: Marty,
I’m seeing online sources-videos, comments and AI say that “Socrates model forecasts a collapse in paper derivative markets, explicitly warning investors that paper spot prices on exchanges will completely disconnect from physical metal reality as physical shortages mount and sovereign debt crises escalate.”
I subscribe to Socrates and watch all your interviews and have never heard you discuss this. Is this accurate?
I’d appreciate if you could set the record straight with a quick reply.
Thank you in advance.
Alex
ANSWER: This AI is becoming a problem where people can make posts mimicking my voice and I have even seen videos while other try to prevent people from reading our site. Some people with self-interests try to make false forecasts that we have NOT made to influence people to buy often in the metals.
There will not be a collapse in derivative markets and this rush to spot metals. There is not enough metal in the world to end currency and only after 2032 are we looking at a redenomination of assets. After the hyperinflation and the fall of the Weimar Republic in Germany, they came out with a new currency in 1925 and it was backed by real estate. This is what I am talking about. Tangible assets from metals, real estate, shares in companies, all make that transition from one currency to the next.
There are people who hat my guts because I have not agreed with them. They have been adamant that derivatives hold gold prices down. They have taken the same position concerning gold leasing, which they also insist suppresses gold.
I am tired of all the BS with bankers who lose money blaming me that I have too much influence to some goldbugs who say the same thing as if I was eliminate gold would soar. Markets are far bigger than anyone from central banks to an individual.
Everyone acts in their own self interest. Compare gold in USD and Euro. You will see that in Euro, gold made new lows into August. In USD, the los war July intraday and a close it was June. I have been the only international adviser with offices around the world from China to Dubai. Giving advice to buy with no regard for the currency is not being a responsible analyst. This is why Socrates allows you to take any market and replot it in whatever currency you like. Telling an American in July to buy gold for a bounce would lead to a loss for a European.
Categories:Armstrong
major nations who enable China to transship goods into the U.S market in an effort to avoid tariffs. [REPORT HERE]
Within the report several nations and regions are identified as being used by Chinese manufacturers to avoid U.S. customs and duty enforcement mechanisms. However, both Canada and Mexico are cited as primary enablers of the process.
The issue strikes at the heart of the problem identified long ago with the NAFTA agreement, and the problem only worsens when the USMCA provisions on country of origin are not enforced.
When you remove oil and lumber, the majority of Canada’s manufactured exports to the USA contain Chinese component parts and this has been the source of much friction in the current trade negotiations. The manufacturing supply chain within all free trade agreements only works when the source of component goods is accurately recorded.
CANADA – […] The report released Thursday from the Office of Trade and Manufacturing Policy — titled “The Great Transshipment Scam” and featuring a timely image of a Trojan horse on the front page — accuses China of routing their exports through third countries with more favourable U.S. tariff rates.
An estimated 40 countries, including Canada, comprise a “shadow transshipment network” used by China, the report argues.
“In plain terms, illegal transshipment is smuggling disguised as trade — fraud cloaked in paperwork — and, in truth, nothing new,” the report says, adding what has changed is the “breadth, depth, and sophistication” of China’s network. (more)
As USTR Jamieson Greer continues meeting with Canadian counterparts, the core issues are unresolved because -in part- Canada is incapable of reconciling the problem. The Canadian team have reported their intention to remain in the U.S. through the weekend hoping to continue negotiations. However, there is little optimism so long as the great pretending continues.
President Trump and USTR Greer have continually said they want Canada to go and seek additional trade agreements with other countries, in part to break the dependency on the USA and in part so that Canada can learn the lessons of reciprocity.
For several decades Canada has used their access to the U.S. market without reciprocity. In fact, one of the great admissions by former Prime Minister Justin Trudeau was openly telling President Trump their unilateral trade reliance was not something the Canadian government was capable of correcting. This led to President Trump remarking that if Canada is going to act like a state inside the U.S. economic system, then Canada should become the 51st state.
The issue is seemingly irreconcilable, and the Canadian govt continue to gaslight the Canadian people on the core issues at the heart of the matter.
Do you both accept that President Trump and USTR Greer want Canada to go forth and achieve bilateral FTAs with other countries? You need experience negotiating reciprocity before you can genuinely sit at the table with the USA.
President Donald Trump held an event in Long Island, New York today to celebrate law enforcement and show his support for first responders. WATCH:
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The story of Jason Arday is one of the strangest and yet embarrassingly sad representations of political correctness, Diversity, Equity and Inclusion running amok. [Recap of Absurd Stories Here]
After one of the most ridiculous and absurd life stories was seemingly accepted by the Cambridge University academic community, they raised Jason Arday to a professorship of sociology and education in 2023. Then slowly it surfaced that the guy was a professional plagiarist and was passing off the academic work of others as his own.
Everything unraveled as those outside the university system started looking at Arday’s scholarship and life claims. The absurdity of it all ended up with massive embarrassment for the university and those within it.
Arday resigned in disgrace; but prior to the discovery of his fictitious life story being sold as real, he signed a book deal which was scheduled to launch this week. I suspect the publisher did some serious hindsight research and discovered the material in the book was entirely made up. Something happened, and today Mr Arday was found dead.
Daily Mail – […] Professor Jason Arday was found unresponsive at a London address shortly after 3pm on Friday.
It comes after a tumultuous few weeks in which fellow dons had questioned if the 41-year-old academic’s work was original.
[…] The Metropolitan Police said in a statement: ‘Police were called by the London Ambulance Service at 3.12pm on Friday, August 14, following a report that a man had been found unresponsive inside a property.
‘Sadly, a 41-year-old man was pronounced dead at the scene. His next-of-kin have been informed and are being supported by officers.
‘At this time his death is being treated as unexpected, but is not believed to be suspicious.’
The statement added: ‘The case is being investigated by officers from the Met’s Central South Command Unit. A file will be prepared for the coroner.’ (read more)
…”When Arday resigned from his professorship and his fellowship, he said that this should not be ‘mistaken for an acceptance of the narratives that have surrounded me’. He cited the ‘personal cost’ of the furore which he said had been ‘too great’. He also cancelled a series of events to promote his new memoir, Great And Unfortunate Things, which was released in the US this week.”…
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