The Weekly Perspective with David Morgan for October 9th, 2017

from The Morgan Report

David Morgan talks about the NYC Mises Event. From Steve Rocco, deficit went over $20 trillion and a huge increase of $318 billion in just a few days. It can’t go on like this forever. It’s not a one day event, but could be one. China is taking less interest in US debt markets. Many countries are unwinding their positions in US debt. At some point this will come to a head. It could be subtle but there will be a rush to the exits. Ricards–The only Russia story that matters. The Central Bank of Russia has doubled their gold holdings and has been creating a new payment system. It’s a trend. Russia’s development bank are teaming up to create a blockchain payment system. Nothing to do with Bitcoin. It will facilitate a wide variety of transactions. IMF says every economy is at risk from climate change. Hunger going up in part because of climate change. Catastrophies seem to be on the rise. China futures market in oil seems to poised to take off. What will the tie to gold do to the markets?

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