The
Grexit
is
merely
the
tip
of
the
iceberg,
the
US
and
most
developed
nations
have
accumulated
enormous
debt
burdens,
under
the
guise
of
entitlement
programs.
Given
that
the
Grexit
appears
imminent,
our
guest
thinks
Spain
and
Portugal
could
be
the
next
to
face
debt
issues.
Credit
risk
is
increasing
-
investors
must
anticipate
a
resulting
increase
in
the
cost
of
credit,
i.e.
interest
rates
on
mortgages,
loans,
etc..
Government
profligacy
worldwide
has
created
financial
bubbles,
particularly
in
real
estate.
Singapore
officials
have
recognized
the
threat
and
imposed
restrictions
to
offset
rampant
speculation
in
housing,
similar
to
Dr.
Greenspan's
1996
irrational
exuberance
warning.
Despite
assurances
to
the
contrary
by
mainline
pundits,
the
resulting
economic
fallout
could
ignite
Great
Depression
like
conditions
or
worse.
Listener's
are
advised
to
make
preparations
by
stockpiling
necessities
and
precious
metals.
The
guest
and
host
agree,
given
the
anticipated
market
uncertainty,
the
best
investment
strategy
is
a
balanced
portfolio
comprised
of
broadly
diversified
/
competing
asset
classes,
including
precious
metals
(the
guest
recommends
an
allocation
of
at
least
10%),
cash,
real
estate,
equities,
bonds
energy
and
commodities.
John
Embry,
Chief
Investment
Strategist
at
Sprott
Asset
Management,
returns
to
the
show
with
his
thoughts
on
the
US
dollar
rally.
Policies
in
Japan
are
undermining
the
yen
currency,
while
the
crude
oil
price
plunge
has
devalued
the
Canadian
Loonie,
making
the
US
Greenback
appear
strong.
The
resulting
financial
mirage
is
directing
global
money
flows
into
US
equities
-
an
overvalued
sector.
US
corporate
earnings
appear
overstated
from
a
historical
perspective
due
in
part
to
irregular
accounting
methods.
John
Embry
does
not
expect
stock
prices
to
collapse
until
central
bank
officials
resort
to
more
hawkish
monetary
policies.
Gold
remains
the
de
facto
antithesis
of
paper
money.
Once
gold
reflects
its
true
intrinsic
value
relative
to
the
quadrillions
of
paper
debt
worldwide,
the
currency
scheme
will
unravel
at
the
seams.
Expect
a
new
global
currency
system
to
emerge
as
investors
shun
the
negative
yields
of
debt
/
bonds
in
favor
of
dividend
yielding
gold
/
silver
shares.
Bifurcated
economic
conditions
in
the
US
continues
to
expand,
denoted
by
the
overt
divide
between
the
haves
and
have
nots.
Favorite
gold
mining
companies
include
Agnico
Eagle
(AEM)
and
Goldcorp
(GG),
as
well
as
two
smaller
companies
outlined
in
the
show.
Please
record
your
questions
and
comments
via
our
NEW
hotline
24/7,
you
can
leave
your
first
name
or
remain
anonymous
if
you
prefer:
Q&A
Hotline:
1-206-666-5370.
Right
Click
Above
and
"Save
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To
learn
more
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play
the
above
formats,
please
visit
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FAQ.
NEW
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-
Q&A:
1-206-666-5370
Harry
S.
Dent
Jr.
The
Demographic
Cliff
Harry
S.
Dent,
Jr.
is
the
Founder
of
Dent
Research,
an
economic
forecasting
firm
specializing
in
demographic
trends.
His
mission
is
“Helping
People
Understand
Change”.
Using
exciting
new
research
developed
from
years
of
hands-on
business
experience,
Mr.
Dent
offers
unprecedented
and
refreshingly
understandable
tools
for
seeing
the
key
economic
trends
that
will
affect
your
life,
your
business,
and
your
investments
over
the
rest
of
your
lifetime.
Mr.
Dent
is
also
a
best-selling
author.
In
his
book
The
Great
Boom
Ahead,
published
in
1992,
Mr.
Dent
stood
virtually
alone
in
accurately
forecasting
the
unanticipated
boom
of
the
1990s
and
the
continued
expansion
into
2007.
In
his
new
book,
The
Demographic
Cliff,
he
continues
to
educate
audiences
about
his
predictions
for
the
next
great
depression,
especially
between
2014
and
2019
that
he
has
been
forecasting
now
for
20
years.
Mr.
Dent
is
the
editor
of
the
Survive
and
Prosper
newsletter
and
has
created
the
HS
Dent
Financial
Advisors
Network.
Mr.
Dent
received
his
MBA
from
Harvard
Business
School,
where
he
was
a
Baker
Scholar
and
was
elected
to
the
Century
Club
for
leadership
excellence.
At
Bain
and
Company
he
was
a
strategy
consultant
for
Fortune
100
companies.
He
has
also
been
the
CEO
of
several
entrepreneurial
growth
companies
and
a
new
venture
investor.
Since
1988
he
has
been
speaking
to
executives
and
investors
around
the
world.
He
has
appeared
on
“Good
Morning
America”,
PBS,
CNBC,
CNN,
FOX,
Bloomberg,
and
has
been
featured
in
USA
Today,
Barron’s,
Investor’s
Business
Daily,
Entrepreneur,
Fortune,
Success,
US
News
and
World
Report,
Business
Week,
The
Wall
Street
Journal,
American
Demographics,
Gentlemen’s
Quarterly
and
Omni.
Harry
S.
Dent,
Jr.
is
the
Founder
of
Dent
Research,
an
economic
forecasting
firm
specializing
in
demographic
trends.
His
mission
is
“Helping
People
Understand
Change”.
Using
exciting
new
research
developed
from
years
of
hands-on
business
experience,
Mr.
Dent
offers
unprecedented
and
refreshingly
understandable
tools
for
seeing
the
key
economic
trends
that
will
affect
your
life,
your
business,
and
your
investments
over
the
rest
of
your
lifetime.
Mr.
Dent
is
also
a
best-selling
author.
In
his
book
The
Great
Boom
Ahead,
published
in
1992,
Mr.
Dent
stood
virtually
alone
in
accurately
forecasting
the
unanticipated
boom
of
the
1990s
and
the
continued
expansion
into
2007.
In
his
new
book,
The
Demographic
Cliff,
he
continues
to
educate
audiences
about
his
predictions
for
the
next
great
depression,
especially
between
2014
and
2019
that
he
has
been
forecasting
now
for
20
years.
Mr.
Dent
is
the
editor
of
the
Survive
and
Prosper
newsletter
and
has
created
the
HS
Dent
Financial
Advisors
Network.
Mr.
Dent
received
his
MBA
from
Harvard
Business
School,
where
he
was
a
Baker
Scholar
and
was
elected
to
the
Century
Club
for
leadership
excellence.
At
Bain
and
Company
he
was
a
strategy
consultant
for
Fortune
100
companies.
He
has
also
been
the
CEO
of
several
entrepreneurial
growth
companies
and
a
new
venture
investor.
Since
1988
he
has
been
speaking
to
executives
and
investors
around
the
world.
He
has
appeared
on
“Good
Morning
America”,
PBS,
CNBC,
CNN,
FOX,
Bloomberg,
and
has
been
featured
in
USA
Today,
Barron’s,
Investor’s
Business
Daily,
Entrepreneur,
Fortune,
Success,
US
News
and
World
Report,
Business
Week,
The
Wall
Street
Journal,
American
Demographics,
Gentlemen’s
Quarterly
and
Omni.
John
Embry
joined
SAM
as
Chief
Investment
Strategist
in
March
2003,
with
a
focus
on
the
Sprott
Gold
and
Precious
Minerals
Fund.
He
plays
an
instrumental
role
in
the
corporate
and
investment
policy
of
the
firm.
Mr.
Embry,
an
industry
expert
in
precious
metals,
has
researched
the
gold
sector
for
over
thirty
years
and
has
accumulated
industry
experience
as
a
portfolio
management
specialist
since
1963.
After
graduating
from
the
University
of
Manitoba
with
a
Bachelor
of
Commerce
degree,
John
Embry
began
his
investment
career
as
a
stock
selection
analyst
and
Portfolio
Manager
at
Great
West
Life.
He
then
became
Vice
President
of
Pension
Investments
for
the
entire
firm.
After
23
years
with
the
company,
John
became
partner
with
United
Bond
and
Share,
the
investment
counseling
firm
acquired
by
Royal
Bank
in
1987.
John
was
named
Vice-President,
Equities
and
Portfolio
Manager
at
RBC
Global
Investment
Management,
a
$33
billion
organization
where
he
oversaw
$5
billion
in
assets,
including
the
flagship
$2.9
billion
Royal
Canadian
Equity
Fund
and
the
$250
million
Royal
Precious
Metals
Fund,
the
#1
ranked
fund
across
the
country
for
its
2002
net
performance
of
153%.
For
more
information
about
Sprott's
award-winning
investment
professionals
and
their
market
insights,
please
visit
us
at
www.sprott.com
or
contact
us
at
invest@sprott.com.
