| Michael Oliver and David Wolfin return as guests on our new Audio/Video format at JayTaylorMedia and the JayTaylorMedia YouTube channel. With a large number of countries led by China, Russia, the BRICS, Saudi Arabia, and a host of other oil producing gulf states, the petrodollar which has long enabled the U.S. to live way beyond its means is now being transformed into the petroyuan. With the net exporting countries, including Japan, decreasing their holdings of dollars, how is the U.S. going to finance its massive deficits which now are over 120% of GDP? Who is going to buy U.S. Treasuries? How high will interest rates need to go to find willing buyers of U.S. Treasuries? And if interest rates rise, what are the odds of a debt trap that requires the Fed to print more money simply to pay the interest on the federal debt? As we enter a recession in 2023 the deficit may well explode out of control. Michael’s momentum and technical analysis won’t answer those questions directly but his ability to confidently know the long-term direction of markets by listening to market momentum and structural characteristics can help individuals make wise decisions in protecting personal wealth.
Michael’s works say to generally stay out of stocks and bonds and go long on soft and hard commodities most notably precious metals of which he is most bullish on—silver. Given Michael’s views on silver, it is fitting to have David Wolfin, the President & CEO of Avino Silver and Gold Mines joins me to talk about his plans to increase future silver production by a factor of four to 8 or 10 million ounces annually from the 2022 total of 2.3 million ounces. | 