A
new
US
Housing
bubble
has
arrived,
a.k.a.
the
echo
bubble,
due
to
institutional
speculation.
But
this
time
the
subprime
debt
is
also
concentrated
in
delinquent
auto
/
student
loans
putting
$4
trillion
at
risk.
US
equities
are
also
in
bubble
territory
with
the
Dow
higher
only
a
few
percent
in
2017
compared
with
the
spectacular
10%+
gains
of
the
PMs.
Financing
the
proposed
fiscal
stimulus
plans
could
double
the
Federal
spending
deficit
from
$1
to
$2
per
year,
eroding
the
purchasing
power
of
the
US
dollar.
Once
the
public
realizes
its
been
duped
by
overinflated
housing
/
stock
prices,
the
herd
will
panic
and
the
next
PMs
stampede
will
begin
in
earnest.
The
Euro
Pacific
Gold
Fund,
EPGFX
may
represent
a
value
opportunity
for
investors
interested
in
the
sector
who
wish
to
avoid
individual
share
risk.
At
some
point
in
the
near
future,
institutions
and
deep
pocket
investors,
central
banks
and
sovereign
funds
could
unintentionally
corner
the
PMs
shares
/
bullion.
Unless
investors
heed
his
warning,
Peter
Schiff
expects
entire
generations
of
retirees
to
be
wiped
out
by
the
coming
inflationary
maelstrom.
Takeaway
point
-
a
global
gold
standard
is
inevitable
and
merely
a
matter
of
time.
Bill
Murphy
of
GATA.org
returns
with
upbeat
commentary
on
the
PMs
sector.
With
silver
higher
by
approx.
15%
and
gold
over
10%
already
this
year,
the
silver
market
appears
to
be
winding
up
for
an
explosive
move.
For
the
technically
savvy,
a
bullish
head
and
shoulders
pattern
implies
a
possible
run
back
to
the
$21+
peak
of
2016.
Once
silver
clears
the
first
target,
$26
is
the
next
area
of
resistance
to
overcome.
With
US
housing
in
an
echo
bubble,
US
stocks
at
lofty
levels
unseen
since
the
year
2000
peak
the
PMs
appear
to
present
a
solid
valuation.
Please
listen
here
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Audio
MP3
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Guest
Biographies
Bill
Murphy
GATA.org
Bill
Murphy,
GATA
Chairman
Murphy
grew
up
in
Glen
Ridge,
N.J.,
and
graduated
from
the
School
of
Hotel
Administration
at
Cornell
University
in
1968.
In
his
senior
year
he
broke
all
the
Ivy
League
single-year
pass-receving
records.
He
then
became
a
starting
wide
receiver
for
the
Boston
Patriots
of
the
American
Football
League.
He
went
on
to
work
for
various
Wall
Street
brokerage
firms
and
specialized
in
commodity
futures.
He
began
as
a
Merrill
Lynch
trainee
and
went
on
to
Shearson
Hayden
Stone
and
Drexel
Burnham.
From
there
he
became
affiliated
with
introducing
brokers
and
eventually
started
his
own
brokerage
on
5th
Avenue
in
New
York.
He
now
operates
an
Internet
site
for
financial
commentary,
www.lemetropolecafe.com.
Peter
Schiff
President
&
Chief
Global
Strategist
Peter
is
one
of
the
few
investment
advisors
to
have
correctly
called
the
current
bear
market
before
it
began
and
to
have
positioned
his
clients
accordingly.
As
a
result
of
his
accurate
forecasts
of
the
mortgage
meltdown,
credit
crunch,
and
decoupling
of
commodities,
precious
metals,
and
foreign
markets
from
the
U.S.
Dollar,
he
has
become
a
sought-after
economic
commentator
on
a
range
of
investment
topics.
Peter
delivers
lectures
at
major
economic
and
investment
conferences,
and
is
quoted
often
in
the
print
media,
including
the
Wall
Street
Journal,
New
York
Times,
L.A.
Times,
Barron’s,
BusinessWeek,
Time
and
Fortune.
His
broadcast
credits
include
regular
guest
appearances
on
CNBC,
Fox
Business,
CNN,
MSNBC,
and
Fox
News
Channel,
as
well
as
hosting
a
weekly
radio
show.
As
an
author,
he
has
written
four
best-selling
books,
including
his
latest:
"
Crash
Proof
2.0:
How
to
Profit
from
the
Economic
Collapse"
and
"How
an
Economy
Grows
and
Why
It
Crashes."
