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Get some hard assets and bitcoin, collapse near...Jay Taylor Interview - YouTube
Channel: VictoryIndependence
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FutureMoneyTrends.com: Jay thank you so much
for joining us.
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Jay Taylor: Oh, itís my pleasure.
FutureMoneyTrends.com: Jay, in your recent
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article you mentioned a visit to Portugal
and their depression. And you realized that
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country was in a depression and now that multi-national
banks and other creditors have taken control
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of some of their major infrastructure projectsÖ
You then went on to say that ëwe have to
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be aware of these global elites and what theyíre
doing as far as bankrupting our people and
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governments.í My question to you is: how
do you survive and possibly thrive in this
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environment of theft and wealth transferring
and extreme market manipulation?
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Jay Taylor: Yeah, I think what you have to
do is first of all, you have to recognize
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that there is manipulation going on and try
to understand what it is and then act accordingly.
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And of course the masses of people donít
get it, they donít believe it. Theyíre content
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to take at face value what theyíre told by
the mainstream media and what people really
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have to understand is that the manipulation
is systemic. It is the fiat currency itself
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is a manipulative tool that allows those to
control fiat money to reallocate wealth from
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those that produce it; I would like to say
the miners, the manufacturers, the farmers,
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the inventors, people that are actually doing
things that are of value to other human beings
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are not getting their fair share. Instead
the government and the Federal Reserve and
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the banking system, that has control and has
first dibs at new money creation that really
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end up becoming more and more wealthy. So
just by being in the system and holding dollars
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you are being taken advantage of.
So what you have to realize is you need to
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get as much as possible outside the system.
And the one way to reduce the systemic risk
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is to trade those fiat dollars, which are
really worthless, they have nothing of intrinsic
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value, they are really just a con game, and
they need to exchange those dollars for gold
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and silver, real estate, I would say diamonds,
I would say other things that are of tangible
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value. That no matter what the currency does,
you still have possession and ownership of
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those assets. Some other ideas might be to
go to digital forms of wealth, like bitcoins.
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Iím not suggesting thatís for everyone but
it might be good for some people. If youíre
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wealthy enough I would suggest people might
do well to do what my friend Doug Casey and
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Jeff Berwick are doing and thatís investing
in other countries and different places. Diversify
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your assets to the extent youíre able to.
FutureMoneyTrends.com: Now what about the
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blatant manipulation of the gold price? Can
you help us understand whatís going on behind
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the scenes?
Jay Taylor: Yeah, I think there is a blatant
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manipulation of the gold price, I think itís
a good way of putting it. I donít know that
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everybody, all the traders on Wall Street,
I donít necessarily subscribe to everybody
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that is trading for JP Morgan or Goldman Sachs
or these big bullion banks are necessarily
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knowingly manipulating the gold market. I
donít think so at all. I think theyíre all
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acting in what they see as their own best
interest. But the best interest of Wall Street
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is not to have people opt out of currency
and go in to gold. They wouldnít have any
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sales left, they wouldnít be able to sell
any stocks or bonds or derivative products
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of anything else if people just went back
to owning the physical metal. So Wall Street
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has a vested interest, Washington as much
as Wall Street has a vested interest in keeping
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people conned into owning paper assets. So
I think there is very little doubt in my mind.
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For example, somebody pointed out that when
JP Morgan, which is by far the predominant
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player in the futures markets for gold and
silver, that when JP Morgan, when they are
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taking delivery, or when they are delivering
gold, when itís a delivery month for them,
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youíll see the gold price go down very dramatically.
Probably so that they can go out and secure
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gold at lower prices.
And how do they do that? Well they can just
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go in to the futures markets, which have a
100 times more volume than the paper markets,
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than the physical markets, and just overwhelm
the headline price that everybody sees by
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driving the price lower, then go back and
cover up. Cover their shorts the next month.
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But itís pointed out that when theyíre taking
delivery, the gold price usually goes up.
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And the point was made, I just saw here, an
analyst was suggesting that in fact October
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should be the bottom here in the gold markets
because of that dynamic with JP Morgan. So
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well, weíll see but there is just a vested
interest. When people say conspiracy they
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sort of think that there is some people in
a smoke filled room of sinister characters
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that are around just trying to rig every move
in the market. No, I donít think so. I think
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that there are people who are just simply
acting on their own behalf, as they see it
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in their own best interest, with little concern
or knowledge about the system and the bigger
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impact. I think itís mostly through the futures
markets that theyíre manipulating things.
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I think thereís a lot of con artistry, I
think thereís a lot of propaganda that comes
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out of the major media. The financial times
being one, but all major media, you always
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have the people that are talking down gold
because itís like everything else. They want
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to talk their book so that they can con people
into doing what makes them money.
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FutureMoneyTrends.com: Jay in your monthly
newsletter you said that you were focusing
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on your top 12 exploration stocks I saw that
you profiled Brazil Resources, a top holding
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Rick Rule, Doug Casey, and Marin Katusa. In
fact, just a few weeks ago at the Casey Summit
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Marin said that he was buying it actually
with his personal account as well, to me.
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What is it that you see in this company that
stands out amongst other gold stocks ëcause
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it is interesting that you do have a high
quality CEO in Amir, but he is attracting
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some rather significantly strong players in
the gold resource sector.
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Jay Taylor: Yeah, absolutely. And I think
thatís a testimony to Amir Adnani. Heís
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a very smart guy, heís very articulate, but
I think one of the things that I find about
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Amir, and Iíve known him for a number of
years now, that not only does he attract talent
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but he also knows how to work with people
very well. Heís a delegator, he knows his
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limits. And you know many small companies
that I see have CEOís that think they can
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do it all. Well Amir knows that he canít
do it all and he knows where his strengths
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are. But I think itís his ability to communicate,
to get along with people, and frankly his
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track record deservedly makes people confident
in his ability to manage things. Heís done
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very well with Uranium Energy, which has been
the first new producer of Uranium in recent
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years in the United States. I just think he
attracts talent because he knows how to work
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with people, and he knows how to use talent
and to treat people decently so I think he
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commands the respect of the people that work
with him. You know his alliance with BrasilInvest
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is a good example of his ability to attract
talent and money. Thatís a conservative investment
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firm in Brazil, and it also allows them then
to have a cultural connection with Brazil
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which is always very very important. And his
ability to raise money has allowed him, even
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in a very weak market then to pick up some
very decent assets, like he picked up the
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Cachoeira Gold Project from Luna Gold and
more recently, Brazilian Gold. He picked up
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a company there with great assets. So the
Cachoeira project has got about 1.3 million
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ounces or so of gold and with lots of exploration
potential. I think Amir is going to make this
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into a very significant gold producing company,
or at least a company that builds up a gold
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asset that will be sold off. And right now
with this market for gold shares being so
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weak, I think itís time people should really
be taking a really good look at this company.
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FutureMoneyTrends.com: Jay as a top resource
analysts and newsletter editor, you speak
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at a lot of conferences and I wanted to get
your feedback on what youíre hearing from
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people as far as: Are the gold investors getting
tapped out here? They went from 1900 to 1300
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over the last two years. Are you starting
to hear about people buying Facebook shares
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and selling their gold?
Jay Taylor: Yeah, I think thereís probablyÖmost
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of the people that are going to do that have
done that. I think thereís a hardcore of
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believers in gold that understand what Iím
talking about, that are long term holders
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of gold and theyíre taking advantage of these
lower prices to add to their positions. Certainly
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if you go to Asia and other countries around
the world that arenít so conned by their
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governments into believing that fiat currency
is a wonderful thing. Theyíre buying gold,
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theyíre taking advantage of this. But I think
at the margins weíre certainly seeing this.
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The people that drove the gold price up to
1900+ were not necessarily the hardcore gold
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bugs. They were the people that have come
in at the later stages. I can tell you that
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when I first started my radio show in March
of 2009, that was pretty much at the bottom
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of the Lehman Brothers debacle. There was
a lot of willingness, a lot more then from
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people who had never really considered gold
to become interested in investing in gold
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and thinking about doing that because they
were really honestly starting to see what
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a lot of us were talking about for many years,
and that is that the system is sick and that
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the policy makers didnít have all the answers.
Well now weíve had a few years of recovery,
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at least in the stock market. I would argue
that the economy is as sick as ever, it hasnít
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really bounced back much at all. If you really
use real inflation numbers, the GDP is flat
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at best. But nonetheless, the people that
might be buying stocks, gold stocks from the
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people that have more money, are doing quite
well. As you say in Facebook and other stocks
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now, theyíre doing quite well. The Dow and
the other stocks have hit new highs recently.
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So there is sort of, the con artists are back
in town. Theyíve restored confidence in the
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system. So I think thatís why gold, one of
the reasons gold is taking such a hit right
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now in part is because it seems like, to people
who want to drink the establishmentís Kool-Aid,
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that things are looking pretty good. As long
as the policy makers can convince us that
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they have control of the system, ëeverything
is going to be fine,í keep people believing
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in the dollar or other fiat currencies, then
theyíve got you where they want you.
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And what Iím saying to my subscribers is
that you canít trust them because you have
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to understand that the dollar is a system.
And more and more dollars are being created
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so the value of each dollar is declining.
Itís very easy with keystrokes of a computer
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to increase the money supply; the supply of
dollars. Itís much much more difficult to
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mine gold, which is the marketís answer,
the marketís choice for free money; for honest
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money, for real intrinsic money, asset based
money. Not liability money like the fiat money
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that we use. So what people need to do is
to get outside of the system. For people of
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more average means: develop a set of life
sustaining skills so that when the system
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breaks down, and unfortunately Iím absolutely
sure the system will break down eventually,
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and Iím afraid sooner rather than later,
people want to have skills that they can trade
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to barter essentially their services for other
things that are necessary. Those are some
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of the ideas that people need to be aware,
first of all that the system itself is sick,
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itís a fiat money system, itís a controlled
system by government, itís not a free market.
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We do not have capitalism any more, we have
something more akin to fascism or state-ism
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of one stripe or another. And so people really
have to understand that and then as much as
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possible opt-out of the system.
FutureMoneyTrends.com: I was going to ask
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you if you thought the gold correction was
over? Because I saw in your newsletter we
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had one in í06 that lasted 71 weeks, in í08
we had 77 weeks, and this one weíre on our
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112th week and weíre really far from making
a new high.
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Jay Taylor: Oh yeah, thereís no question
and I think that the chances are probably
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90% that weíve seen the lows. I wouldnít
rule out though, if you look at the charts
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it would seem as though we could go down to
a little about 1000 potentially and if we
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did it would be akin in percentage losses
to what was experienced in the last great
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gold bull market in the ë70s, when we went
from about 200 to 100 and then up to about
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850. I donít think weíre going to go down
there, but if we do that would be another
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great buying opportunity. No doubt it would
shake even a lot of good solid gold bugs out;
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scare them out. But you know if I could, I
would like to see an end of the bull market
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in gold, honestly I really would. I would
like to see no reason to own gold. Then we
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could get on to doing things that are really
useful for other human beings instead of taking
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capital and digging holes in the ground and
taking gold out and putting it in a vault.
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We could be doing things that might actually
create wealth and do things that are really
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good for people. But the markets are demanding
and people like me who understand how sick
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the fiat currency system is, the global economy
is, as a result of this manipulation of markets
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for so many decades; realize that we canít
run away from gold now. We have to own it
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because it is going to be the store of wealth.
And I donít know but I think weíre close
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to the end. And Iíve had doctor Robert McHugh,
heís an avid Elliot Wave analyst who is on
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my radio show, believes we could be six months
or so away from a major next leg up. But he
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believes the next leg up will be the fifth
wave in an Elliot Wave bull market here for
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gold. But we will see, that will be by far
the biggest move upwards in gold that we will
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kick out the old highs by a large margin.
Other people like Ian Macleod who Iíve had
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on my show, said I wouldnít want to wait
around for six months. Heís looking at the
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fundamentals of the gold market, heís looking
at the shortage of gold bullion to cover the
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contracts that are out there in the futures
markets and heís not at all convinced that
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we wonít see something much more significant
taking place before six months. So I donít
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know what the timing is on this thing, all
I know is that the global money monetary system
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is as sick as ever. I know that in the United
States, our financial system, our government
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is going bankrupt. I know that thereís no
way in Godís little green earth that weíre
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going to have a solvent fiscal situation in
any time probably in my lifetime. And so I
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can only see a bull market in gold and when
itís ready I think the main plan I can make
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is that people shouldnít sit around and wait
for the market to start to move. Because it
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could go, we could see it turn in the gold
market in a New York minute, to put it one
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way. Because I think another good point that
Alasdair Macleod made on my show thatís very
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worthwhile considering..these fiat currencies,
which run the opposite way of gold, like the
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dollar being the main worldís reserve currency,
they are a total con game. Thereís nothing
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behind them anymore. As Alasdair pointed out,
it has nothing to do, it doesnít necessarily
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have anything to do with the amount of money
thatís created. If you have 50 trillion or
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$100 trillion of money, if none of those units
of currency are worth anything it doesnít
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really matter. The point is the con job is
up, the dollar could collapse very very quickly.
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You know he points out that without any increase
in the krÛna in Iceland, that overnight it
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lost 50% of its value. So once people lose
confidence, and then itís going to be too
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late. So people need to be lining up, buying,
opting out of this system now before everybody
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else figures out that the system is sick and
itís going down.
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FutureMoneyTrends.com: Jay Taylor of Jay Taylor
Media, thank you so much for your time sir.
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If someone would like to reach out to you
personally, is Jay Taylor Media the best place
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for them to go?
Jay Taylor: Yeah, JayTaylorMedia.com is the
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best place for them to go and MiningStocks.com
is also another. Mining Stocks really deals
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with my newsletter more and Jay Taylor Media
is a portal for the newsletter, my colleague
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Chen Linís newsletter, as well my radio show
ìTurning Hard Times Into Good Times.î
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FutureMoneyTrends.com: Alright sir thank you
so much for your time. You have a good day.
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Jay Taylor: Youíre welcome, thank you.
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