Based Underground is now a conservative news aggregator AND curated newsletter.
A very short podcast I heard recently from Mises really caught my attention. The analysis by Mark Thornton was excellent, but the part that really woke me up was hearing how many people are unaware that precious metals are truly the “smart money” during economic chaos. So, I downloaded the audio for this video to share with more than just his podcast audience.
Those who are considering physical precious metals should check out the four companies that qualified as truly “America First.” It shocked me after vetting out 31 total gold companies how many of them are donating to Democrats, working with the CCP, and/or embracing Central Bank Digital Currencies. These four are not.
Here’s the writeup followed by the transcript:
Mark discusses something bigger than the Disney layoffs: the Wall Street Journal‘s April 25 frontpage article on investing in gold. It would seem that the recent rise of the price of gold is the result of tired, dumb, and disillusioned crypto currency investors throwing in the towel to “chase shiny new object—gold.” Mark explains that the rational reasons for investing in gold loom larger than the entire
Hello, my name is Mark Thornton, and this is another episode of Minor Issues. Today’s episode was going to be about the Disney nightmares and layoffs, but that’s been replaced, so I’ll just say that this does not impact the hour employees at theme parks, so you won’t find them deserted this summer, and the layoffs will occur where the Austrian Business Cycle theory expects in terms of things like talent and content generation, capital building areas of Disney responding to higher interest rates and having to cut costs.
But today’s episode is replaced with an article from the front page of the Wall Street Journal on investing in gold. It’s quite comical, unfortunately, but it’s still great to see the Wall Street Journal forced to publish something on their front page about investing in gold.
It’s titled, “Weary Bitcoin Investors Chase Shiny New Object: Gold.” So all you tired and confused and dumb investors who’ve been putting your money in cryptocurrency have now found a new shiny object… making fun of today’s current gold investors. They say, for example, that in the old days, gold and silver, they were for old farts, but now gold is portrayed as safe and stable.
They point out that the searches for gold investing are way up. Sales of gold coins are way up, and the prices of securities of gold and silver investments are also gaining a lot of ground. But of course, don’t expect gold dealer Super Bowl ads anytime soon, and when you do see them, it’s probably a good signal that you might have to sell some of your gold.
So, they talk about gold being beautiful and shiny and very dense. You can melt it and recycle it. But those are really all the properties that made gold such a great form of money in the first place. We’ve been talking about investing in gold as a hedge against monetary disorder and chaos. And so we’re not surprised that gold is up over $2,000 an ounce right now.
And who can blame the market at that level given that central bankers are left wing, at least in terms of the United States, the Euro and the European Central Bank, and of course the Bank of Japan and many others. And then of course, we’ve gone through nearly a dozen years of zero interest rate policy, which had never been done before, and massive quantitative easing which had never been done before.
And so you get these, particularly US and European politicians and central bankers, they can’t get peace with Russia. They can’t cooperate with China. They can’t balance their own budget. They can’t control their own national debts. They seem to be very dysfunctional in a general sense and very disinterested in serving the economic interests of citizens in their countries, and that would include of course, also Russia and China as well.
But now we contemplate thrown into this situation a severe economic contraction, which is certainly possible. What does that mean if you have a foundation of monetary and government chaos, and then you add in a severe economic contraction? Well, of course that’s gonna adversely affect banks, finance, stock markets.
It’s gonna adversely affect government budgets. Revenues are gonna go down, expenditures are gonna go up, widening the deficits and increasing the interest expense of those national debts. And then of course, the potential for higher taxes and other crimes. And so when you look forward into that potential, what you see is the potential for much bigger bailouts and more monetary inflation.
So the interest in gold that people are displaying all over the country is not irrational. It’s not a second best choice, but it’s a very rational decision to invest against the political disorder, which politicians are fomenting, and the monetary and economic disorder, which central banks have been busy doing for many, many years.
About Mark
Mark Thornton is the Peterson-Luddy Chair in Austrian Economics and a Senior Fellow at the Mises Institute. He is the book review editor of the Quarterly Journal of Austrian Economics, and has authored seven books and is a frequent guest on national radio shows.
Mysterious “Skyquakes” Are Causing Strange “Booms” in the Sky, and Scientists Have No Explanation
by Michael Snyder
(End of the American Dream)—What is causing the extremely loud “booms” that people are hearing in the sky all over the world? We are being told that “skyquakes” are responsible, but scientists have no idea why these “skyquakes” are occurring. In some cases, the “skyquakes” cause such powerful shaking that…
The Biggest Sale on Long-Term Storage Beef EVER
by Sponsored Post
Let’s cut to the chase. Prepper All-Naturals is offering an unprecedented 40% off for it’s “Beef Steak” survival bags with promo code “steak40”. With a 25-year shelf life and a single ingredient (beef, of course), our most popular product is available for a very limited time with the biggest discount…
Seattle Is Ordered to Stop Blocking Illegal Alien Deportations in the Most Hilarious Court Decision Ever
by PJ Media
A federal court has just pooped in the oatmeal of the West Coast, Messed Coast™governors and local election officials suffering from acute cases of Trump Derangement Syndrome who think they can stop illegal alien deportations. And after this hilarious and thorough legal takedown from the 9th Circuit Court of Appeals,…
Illegal Alien Terror Suspect Found Dead in Cook County Jail Cell
by Slay News
An Islamic illegal alien has been found dead in his jail cell after being arrested on terrorism charges. According to CWBChicago, 22-year-old Sidi Mohamed Abdallahi was found dead at the Cook County jail in Illinois on Saturday. Abdallahi was arrested on felony terrorism and hate crime charges in October. He…
Trump’s Wild Bunch Is Ready for Action
by Frank Miele
If for no other reason than that it will elicit fear in the hearts of autocracy-phobics, I propose that Donald Trump’s second-term Cabinet be known as “The Wild Bunch.” The name is best known as the title of Sam Peckinpah’s classic 1969 western featuring a colorful cast of aging outlaws…
FAA Issues Flight Restrictions Over Questionable Drone Activity Near Trump’s Bedminster Golf Course
by Just The News
The Federal Aviation Administration (FAA) on Tuesday said that it has issued two flight restrictions on the area surrounding President-elect Donald Trump’s Bedminster golf club in New Jersey, following questionable drone activity. The drone sightings were first reported on Nov. 18, but have continued into this week, according to Fox…
Ex-FBI Agent Convicted for Stealing From Jan 6 Defendant During Raid
by Trending Politics
A former Houston-based FBI agent has been convicted of stealing valuables and cash while conducting searches. In one instance, the agent stole cash and silver bars from a non-violent January 6 defendant’s home. Nicholas Anthony Williams, 36, was indicted on January 31 in the Southern District of Texas. Williams, who…
Democrats, Media Elite Urge Biden to Pardon Trump’s Alleged ‘Enemies List’
by Breitbart
President Joe Biden should issue preemptive pardons to his political allies and those deemed to be on President-elect Donald Trump’s alleged “enemies list,” Democrats and their media allies believe. Delivering a preemptive pardon indicates an admission of guilt, although Democrats claim a preemptive pardon would only be intended to block…
Fani Willis Forced to Release All Communications With Jack Smith, J6 Committee
by Trending Politics
The Fulton County Superior Court has ruled against District Attorney Fani Willis, ordering her to disclose communications with Special Counsel Jack Smith and the House January 6 Committee. The decision, announced on Tuesday, follows a lawsuit brought by Judicial Watch, a conservative watchdog group, which accused Willis of violating Georgia’s…
Lindsey Graham Is the Warmongering NeoCon Leading the Charge to Upend Pete Hegseth
by JD Rucker
Pete Hegseth represents a shift away from the wokeness that has infected the United States military. This is possibly the biggest reason President-Elect Donald Trump tapped him to be the next Secretary of Defense and the vast majority of Republicans on Capitol Hill can support this, at least for the…
‘Where Are Black Democrats?’: Charles Payne Tells Personal Story to Call Out ‘Huge Double Standard’ of Biden Family
by Nicole Silverio, DCNF
(DCNF)—Fox Business host Charles Payne called out the alleged “huge double standard” of President Joe Biden’s family Tuesday by revealing that his brother, who struggles with a crack addiction, is currently serving a jail sentence. Payne said his brother, who is getting out of jail on Friday, is likely one…
Zelensky Admits Ukraine Can’t Retake All Its Land: ‘We Must Seek Diplomatic Means’
by Breitbart
Ukrainian President Volodymyr Zelensky conceded in an interview on Tuesday that Ukraine does not have “enough forces” to restore sovereignty over Russian-occupied Crimea and “must seek diplomatic means” to end the Russian invasion and regain its land. The state-run Ukrinform outlet reported that Zelensky described Crimea – which Russia colonized…
Ultra-Processed Foods: How Bad Are They for Your Health?
by Olivia Cook
(Natural News)—Despite the serious health risks associated with eating junk food, they remain the most consumed food products in many countries, particularly developed ones. But a review published in The BMJ, which studied 9.8 million people, warns that eating a lot of ultra-processed foods can increase your risk for 32 diseases. Among these are heart…
“Already Pretty Far Down the Line”: The Container Store Could File for Bankruptcy as Soon as Next Year
by Tyler Durden, Zero Hedge
(Zero Hedge)—As the retail apocalypse that started with Amazon and e-commerce continues, the latest victim is The Container Store. The retail giant could file for bankruptcy as soon as next year, according to the New York Post, who said the retailer is blaming its recent descent on “a weak housing…
Mysterious ‘Car-Sized Drones’ Over New Jersey Prompt FBI Investigation
by Zero Hedge
Several weeks of mysterious drone swarms over the skies of one New Jersey county near the military research and manufacturing facility Picatinny Arsenal have sparked concerns among residents and prompted an FBI investigation. “It’s kind of unsettling,” Mike Walsh, a Morris County resident who has spotted the drones on numerous…
UNESCO’s New Mission: Train Influencers About Combatting Online “Misinformation”
by Reclaim the Net
The UN Educational, Scientific and Cultural Organization (UNESCO) is now incorporating teaching influencers how to “fact check” into its activities. UNESCO claims that influencers have become “primary sources of news and cultural information” around the world – which prompted it to carry out a survey into how these online personalities…
