Wall St For Main St

Jason Burack of Wall St for Main St welcomed back returning guest, former Wall St executive, whistle blower and author Nomi Prins http://www.nomiprins.com/During this 40+ minute interview, Jason starts off by asking Nomi about her new book, All the Presidents' Bankers, and according to her research when did Wall St try to start buying off/controlling US presidents. Nomi talks about how she started her book in the late 19th century (1800s) and bankers like JP Morgan started cozying up up to bankers then and they ran in the same social and partying circles. Nomi talks about how money and political power enjoy each other's company. Jason and Nomi talk about the Creature from Jekyll Island and then about FDR and how FDR secretly met with lots of Wall St bankers according to Nomi's research for her book. Next, Jason and Nomi discuss corruption on Wall St and if it has increased since Nomi first began her career on Wall St in the 1980s. Nomi thinks corruption has increased massively because of the opaqueness of derivatives and financial products. Jason and Nomi discuss why corruption increased and Jason asks Nomi if the banks don't fear failure because of the Federal Reserve backstopping them.Jason and Nomi discuss the role central banks like the Federal Reserve play in allowing bankers, hedge fund managers, etc to take enormous risk and not fear being fired, going to jail, etc. Next, Jason and Nomi discuss the global economy and why she thinks China is close to announcing a large QE program. Nomi thinks central bankers are coordinating their QE programs to help keep interest rates low and asset prices propped up. She thinks this can continue at least for awhile longer until interest rates go to zero in every major economy. Jason asks Nomi about why China, Russia and other G20 countries are creating the Asian Infrastructure Investment Bank, an alternative SWIFT system and doing enormous currency swaps and bilateral trade agreements. Nomi thinks many economic and political elites know the status quo is collapsing. To wrap up the interview, Jason and Nomi talk about the sickening amount of corruption in politics and if anything can be done to reduce the corruption.

In this episode, Jason and Eric go in depth about robotics and automation and Martin Ford's new book on the subject, Rise of the Robots is talked about extensively. The book, Rise of the Robots, may be purchased here: http://www.amazon.com/Rise-Robots-Tec... or on audio book on Audible. Additional references about automation and robotics used or talked about in this podcast include: https://www.foreignaffairs.com/issues...http://www.oxfordmartin.ox.ac.uk/down...http://www.forbes.com/sites/timworsta...http://forwardthinking.pcmag.com/none...Many more academic white papers available on the subject, just Google " jobs lost to robots statistics."Also, take a look at the short You Tube documentary on robots and automation, Humans Need Not Apply. Jason and Eric extensively discuss robotics, why robots are improving so quickly now compared to decades past, what industries they might disrupt first and how to protect yourself from losing your income to automation and robotics.If you have additional ideas for show topics, comments or want to nominate a politician, bureaucrat or government agent for Scumbag of the Week Award, please use #welcometodystopia to get a hold of us on Twitter. Welcome to Dystopia logo contest is still ongoing. Article from this week's scumbag of the week award referencing training in China for handling corruption scandals: http://www.ibtimes.com/chinese-tycoon...

Jason Burack of Wall St for Main St had on returning guest, former top hedge fund manager and chairman of the Sprott group of companies http://www.sprott.com/, Eric Sprott. During this 25+ minute interview Jason asks Eric about his expert opinion on many important topics including interest rates and financial repression, what's really going on in the US economy, Bitgold, production costs for gold and silver miners, and a review of the fundamentals of the gold and silver market. Eric thinks anything can be manipulated now for awhile in markets and no major liquidations are allowed anymore. Jason also asks Eric if he thinks China wants the SDR or if China plans to destroy the SDR from the inside?Eric thinks China is only temporarily joining the SDR and eventually wants the world reserve currency itself.

Jason Burack of Wall st for Main St had on gold and silver mining and oil and energy expert, Steve St. Angelo of the SRSRocco Report http://srsroccoreport.com/ on for an in depth interview. During this 50+ minute interview, Jason asks Steve about the costs to operate a modern primary gold and primary silver miner. Jason and Steve discuss how since ore grades have fallen so much over the decades how they have made it difficult for miners for have high margins. Jason asks Steve how miners have survived in the past when gold and silver were below their all in production costs in the mid 90s. Steve cites one miner, Coeur D'Alene Mining, who sold hundreds of millions more shares diluting shareholders to survive. Jason and Steve discuss whether miners can sell many more shares in this environment. Jason doesn't think that's likely considering what he hears from his contacts in Toronto and Vancouver where miners normally get financed how there's basically no debt or equity available anymore, except in small amounts at penalty/punitive rates. Jason asks Steve about primary copper miners and what will happen to the gold and silver by-product when the hedges of copper miners come off line and copper miners go bankrupt or shut down mines. Steve thinks this could cause a supply squeeze in the near future unless gold and silver prices rise. Jason and Steve talk about the fundamentals of the market how demand for physical is rising, while the paper price is controlled and how miners are struggling mightily financially just to not go bankrupt soon. To wrap up the interview, Jason and Steve discuss the oil and energy markets, peak oil and how the fracking boom is about to turn into a fracking bust because US shale oil companies are not making a profit without their hedges, they have too much debt and the energy returned on energy invested (EROEI) in shale oil is poor compared to other oil production. Steve and Jason also talk about solar power and how it's probably not a panacea to replace oil and natural gas, at least not until the battery problem is solved. Most rare earths mining is done in China to produce solar panels, making them not as environmentally friendly as people think and silver industrial demand should grow the more solar panels are used.

Jason Burack of Wall St for Main St interviewed first time guest, technology entrepreneur, investor and resource fund money manager, Matt Geiger of MJG Capital http://www.mjgcapital.com/.Only 24 years old, Matt is already General Partner at MJG Capital where he invests money for a 10 year time frame for his investors into resource stocks. Matt focuses on juniors, prospect generators and near term producers in different commodities in energy and mining. Matt's fund avoids positions in hydrocarbon industries like oil, natural gas and coal but he pays attention to the entire energy complex because the energy sector is linked. During this 25+ minute interview, Jason asks Matt about his interesting background and then he asks Matt about buying resource stocks in this environment. Matt is bullish on a number of commodities including lithium, gold, silver and uranium. Jason and Matt discuss how many new technologies like smart phones and tablets require a lot of metal to go into them that Silicon Valley and Americans take for granted. This interview is a good discussion about investing in resource stocks in a very unloved industry right now.