The US has way more debt now. In the 70’s, the US was a creditor nation, had a trade surplus, had manufacturing capacity and you could support a family with 1 income. Government was only about 8% of the economy and is now over 40%. Not the same America as in the 1970’s

Option 4: Falsify the numbers and proceed with confidence by redefining the meaning of former truisms.

Well done gentleman. Thanks Oxbow

Thanks Ted! Great interview with a really knowledgeable man.

Great interview, mr. Oakley - and excellent choice of guest. Luke Gromen is brilliant and always a good watch. Have now subscribed to your channel. Looking forward to more from you!

Excellent interview!

He is the best :-) Great guest, thanks again!

Excellent Mr. Oakley. I have watched you being interviewed several times and was very impressed by your measured ,wise musings. That was an excellent interview and Mr. Groman distinguished himself ; we leave this interview preoccupied and wiser. Thank you, Dr. Timothy O' Herlihy.

Great interview of Luke Gromen, Mr. Oakley! He explains the complex in ways everyday people can understand. Thanks for asking such germaine questions, and showing the graphs!

Great job as always. Very much appreciate your work.

Very interesting interview!

Forty minutes without talking about the cause of the problem: reckless fiscal deficit spending by Congress. 😱 Even President Jimmy Carter recognised that we need to shrink the size of government. 🤔 Newt Gingrich achieved a budget surplus by persuading Congress to limit spending. ☮️

I cannot believe the patients I have developed after over a decade being in the PMs markets. I have ridden gold since $1,200 and the white metal from $12 bucks. All or most of my buddies are out now and they told me why, they got scared of the manipulation and couldn't hold on. Some regret it now especially after the $2,400 break out. I'm also a student of buying the dips noting the Oracle of Omaha "buy when there's blood in the streets!" After 12 or 14 years it's been actually really working. But my god fellas Silver a a scary ride it's like driving through Mosul or Baghdad in a soft skin vehicle.

The most important part of this conversation was the recognition that the petrodollar died and its now gold for oil. This is THE significant factor of our time as it relates to economics. And it isnt juat gold for oil, but for all commodities.

Thank ted and Luke

*YT Quick Survey:* For your shared investing ideas, what do you think will be the next Apple/Microsoft in terms of growth?

Thanks Ted!

Yeaaaah, finally Luke has a better mic 😮. Congratulations 👏🏽🎉

Very valuable information. Anytime you can have experts do a long talk like this one, the more I understand economics in a current environment

LG was brilliant, thanks.

Great interview! We have the same problem in Canada. Over the last 16 years, the purchasing power of our dollar has declined at an annual rate of 7.8% vs Gold. Too much debt.

After 40 years of declining interest rates, it's hard to adjust to the new reality of higher for longer not just because of the Fed but because of market forces that are saying enough already. The future looks challenging to say the least

"if the baby boomers die off in large numbers".............think you tangentially touched on some truth there, bro

How about no bailouts (yeah, you read it right “no bailouts”) just let the chips fall where they may. Which kinda reminds me of this thing they used to have, it was called “capitalism”. You’d have to find it in the history books or on the way back machine - because I don’t think it’s a thing anymore.

Excellent. Thank you.

Thanks again Ted.

Thank you very much...

These interviews are becoming one of my favorites.

Yes, the price of getting oil out of the ground is more expensive. But how much of that is inflation itself?

What happens to the value of a 10 year bond when the yield goes from 5% to 1% ??? Why would it go to 1%?? GFC/COVID/WAR/BANKING CRISIS...

This was so enjoyable. Been following luke for 3 years now, im picking up what hes putting down. Thank you ted

Fed will be a huge buyer of UST. Inflationary? Perhaps, but this is really an issue of Federal deficits and the contribution to "GDP". Take away federal deficits, or reduce them, and our economy is disinflationary and troubled. Enjoyed the interview.

I'd like Luke and Doomberg to discuss peak cheap oil.

Very helpful interview Ted

FED has never got an economic call correct. It will be unemployment, when it arrives and tax receipts decline we should be worried. Then benefit costs increase and fiscal chaos starts. The deficit will ballon and national debt rapidly increase. Not enough tax to cover debt interest payments will ensure.

Love Luke.

Good interview.

"It hasn't been a problem yet." Hmmmm I would say that inflation is ALWAYS a problem.

Who were the US sovereign bond holders 1940-1950?

Maybe the buyer of the long bond is the passive flow from people’s 401k when they choose the long time frame value fund. They have no clue what that means.

I'm a babyboomer and I'm not volunteering.

I saw the pull back coming, made an order request prior to pulling the trigger, my local JM Bullion dealer had 20 ounces of American Eagle, so Monday I picked up 10 and Tuesday I picked up another 10 for my buddy. Good $50,000 spent. I have some green set aside for gold and silver purchased at every pull back riding this bull and staying on its back way past 7 seconds! Today I'm ready for 2 Maple monster boxes on sale at SD Bullion. I'm not paying the god damn America Eagle premiums.

Luke!!!

No mention what stealing russian reserves will do to foreign bond reserve buyers. Will this destroy all trust in holding such reserves with the usa?

When Jacob Fuger said 25% cash, would short term treasury bills qualify?

Treasury yields do follow inflation rather than a supply-demand dynamics!

Are you people that comment about debt not being a problem,I am waiting for your responses when your taxes double to pay that debt.

👏🏼👏🏼👏🏼

There are two ways they can "inflate" it away... have high inflation and gdp over a number of years so the debt looks relatively smaller over time - or just print the money and pay everyone back. The government hasn't had to resort to that yet, which means things are still relatively under control and a lot of the sky-is-falling retheric is grossly premature

How much money does Oxbow bring in from embedded ads on KZfaq?

If we try to pay off the debt with inflated dollars then we will follow the path of many other countries. Inflation will skyrocket here and wages will not even come close to keeping up with it. It will plunge most people into serious poverty. Take the Philippines for instance. I have a coin that says one US Dollar on one side, and one Philippine Peso on the other side when it was minted. Then came reckless corruption and unsustainable printing and spending in the Philippines. Now it takes 55 Pesos to buy one US Dollar. I don't pretend to know if the dollar can devalue that badly, but if it did we would be paying here in Texas around $150 for a loaf of bread and around $15 million for an average home, and it can happen QUICKLY. Venezuela went from being the most prosperous country in South America to the poorest in 14 years. The unsustainable paths that the US is hurtling down right now should be front page news on every newspaper. Instead we get coverup and comforting lies to the American people deflecting their realization of GROSS mismanagement of the US on many fronts for a very long time now.

How is BTC a “real/hard asset?”

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Don't hold too much cash these days

I bought just prior to the pull back. Mr Slammy was waiting. Sorry everyone.

Economic investigator Frank G Melbourne Australia is following this very informative content cheers Frank 😊

Looks like Ron Paul was right and everyone else was wrong.

None of this or a popping of the markets until after the election They will by any means keep the status quo until then After election all bets are off People have until then to prepare Interest rate drop just prior to election so Politicians can sell a coming boom As a Nation we are Broke & need to pay for our Politicians running up insane debt on us Get Gold for sure if your able Our own slackness letting our Politicians put us in this position will cause Huge pain after elections

🍬🍬🍬🍬🍬🍬Ethel 🙂

i would be curious as to where the 400 million ounce silver deficit will come from. hello? anybody? the silver tree is bare guyz........... this is not as important as elections in november i understand

18:01 Isn't that what Covid was trying to actually do?

Fed will hold all treasuries, your plumber arrives with a whellbarrel and you fill it.

I hear no discussion of the most important thing: money supply!

After.the.horse have.left the.stable.no.stopping.until the end.of.the.begining 😢😢😢

I think it’s hilarious that so many people think Gromen is so brilliant. He’s a clown. Bring on Art Laffer if you want someone who actually understands economics.

Ted "useless eaters "not a new idea in full bloom in the desert

Luke is a bitcoin pumper and thinks bitcoin is the same as gold. Lol

Luke is so obsessed with US debt that he cant see the trees for the forest. He needs to also look beyond the border if he wants to understand the world.

Luke's commentary is virtually useless