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Your Multi-Million Dollar Exit Plan with Wayne Zell

from Kerry Lutz's Financial Survival Network

Wayne Zell, a CPA and attorney, discussed the importance of having an exit plan in place when starting a business. He recommends creating a revocable trust to avoid probate and to maintain control of the business. He also suggests having a management succession plan in place to ensure family harmony and to benefit the community. Wayne also advises entrepreneurs to make time for their passions outside of work and to plan for the future after exiting the business.

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FPX Nickel Endorsed by Major Global Stainless Steel Producer Outokumpu via $16mm Equity Investment

from Mining Stock Education

FPX Nickel (TSX-V: FPX, OTCQB: FPOCF) just announced and closed a $16 million strategic equity investment from major global stainless steel producer Outokumpu. FPX has issued 26,800,000 common shares in the capital of the company to Outokumpu at a price of C$0.60 per common share, for gross proceeds of C$16,080,000. Upon completion of the private placement, Outokumpu now owns approximately 9.9% of FPX’s issued and outstanding common shares on a non-diluted basis.

CEO Martin Turenne stated: ““This strategic investment by Outokumpu represents a significant technical validation of FPX’s Baptiste Nickel Project, and underscores Canada’s critical role as a supplier of choice to allied industrial partners in Europe and the United States, Outokumpu is a large and highly-regarded global operator, with a robust track record of producing the world’s most sustainable stainless steel, and is one of the largest single consumers of nickel in the world. Our partnership with Outokumpu testifies to Baptiste’s potential to produce a premium nickel product that can bypass the intermediate smelting stage, thus becoming a highly sought-after feedstock for the responsible production of low-carbon finished products in multiple consumer and industrial markets, including stainless steel. FPX is pleased to be Outokumpu’s preferred partner as they look to secure the sustainable, long-life nickel units which are best aligned with their strategic objectives.”

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AI Mania Fad Takes Over with Nick Santiago (Ep #497)

from Daily Market Wisdom with Nick Santiago

For more than 20 years, Master Trader Nick Santiago has been beating the markets. He’s made some incredible calls along the way and now he’s looking to spread the word. There’s no reason that the average trader should be coming up short. So now we’ve started a daily show to bring you up to date on the latest market developments. Nick will be sharing trades and concepts and discussing current trends.


1. AI mania is running wild. The $NVDA chart is euphoric as is most of the other leading semiconductor stocks. Everyone seems obsessed with NVDA becoming the next $1 trillion company. The stock is now overdone. It looks like bitcoin looked before its big double top. I would not buy it up here at this level. Plain and simple parabolic is parabolic. If you happen to own this lower this is the time to take profits or trail the stop loss.

2. May Consumer Confidence 102.3 vs. 99.5. This is just another strong number that puts the Fed in a corner to raise rates in June. This coming Friday we will get the unemployment report.

3. It looks like there is a tentative debt ceiling deal in place. This still needs to be voted on, so I’m sure more drama will arise before it passes.

4. Energy is getting hit again across the board. Oil, nat gas and just about every energy stock are trading sharply lower today.

5. Bitcoin started the session very strong but has pulled back in. It’s still positive on the day, but well off the highs.

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Your Gold is Going Higher, Just Not Yet with Jordan Roy-Byrne

from Kerry Lutz's Financial Survival Network

Jordan Roy-Byrne agrees that the market often seeks to frustrate the majority of participants, especially in the precious metals and mining stocks, particularly the juniors. He believes that gold will break out above $2100 when the economy moves towards a recession and the Fed is forced to ease policy. This could happen as soon as September or as late as winter. Jordan discussed the current state of the gold market, noting that gold needs to break out above $2100 for there to be a real bull market in the sector. He also noted that patience is needed, as the recession and the 2020 elections will likely play a role in the gold market’s performance. He also mentioned his publication, The Daily Gold Premium, which provides content and analysis on the gold market.

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Time for You to Choose Greatness with Christina Curtis

from Kerry Lutz's Financial Survival Network

Christina Curtis believes that success is no accident and that it requires getting comfortable with being uncomfortable, managing cognitive dissonance, and setting up a regiment that brings out one’s best. She also suggests that eating healthy food can help increase productivity. Christina discussed the importance of exercise and fasting for optimizing mental acuity and building confidence. She also discussed the power of visualizing success and creating a regimen for the brain and body to be at its best.

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Gold Consolidation Before Moving Higher with David Erfle

from Kerry Lutz's Financial Survival Network

David Erfle and Kerry discussed the differences between the price of metals and stocks, and how the lack of retail investors in the sector has allowed for manipulation of stock prices. They also discussed the debt ceiling and how it is used as a political tool, and how it is ultimately meaningless. They also talked about the current state of the market, the effects of inflation and deflation, and the importance of being patient and accumulating quality juniors. David explained his service’s ability to help identify the right stocks and keep investors informed about the sector. Lastly, they discussed the Precious Metals Summit in Colorado in September and that both of them would be attending.

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A History of Major Financial Crises and How Taxpayers Pay the Price with Kathleen Day

from Kerry Lutz's Financial Survival Network

Kathleen Day has written a book about the history of financial crises in the US, which have been occurring since the founding of the country. She explains that while deregulation can be beneficial, it must be accompanied by increased oversight to prevent crises. People tend to forget the lessons of the past and take more risks when other people’s money is at stake. The reserve requirement is meant to protect against liquidity crises, but if the demand for deposits continues, banks can still become insolvent and taxpayers must pay the price. Kathleen discussed the similarities between the financial crisis of the 1980s and the current situation, noting that both had to do with inflation and interest rates. She also discussed the role of the government in regulating banks and the need for stress tests for all size banks. Lastly, she discussed the dangers of moral hazard and the need for banks to be conservative in their investments.

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Deflation/Inflation/Bust with Michael Pento

from Kerry Lutz's Financial Survival Network

Michael Pento believes that the Fed’s rapid rate increases have caused a banking crisis, and that the Fed’s actions have created an artificial construct that will lead to a deflationary recession/depression followed by runaway inflation. He predicts a 30-50% drop in equity averages and suggests investors play it safe by collecting dividends in a safe manner.

Michael discussed the unsustainable levels of global debt and the potential for deflation and a depression if the Fed does not take action to reduce debt levels. He believes that inflation is not the answer and that the middle class will suffer if it continues. He suggests that the Fed should reduce the balance sheet and remove the gamblers from Wall Street in order to create a healthy economy.

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It’s the Debt, Stupid with Brad Williams

from Kerry Lutz's Financial Survival Network

Brad Williams is back… America just refuses to face reality and that means that the dollar will continue to lose value and more and more money will be tossed into the furnace. Politicians are much more willing to feed the inflation beast than they are to fix the underlying problem of out of control spending. And it’s not a matter of parties. It’s matter of always taking the easy way out. After all, in current day America, a politician’s primary responsibility is to get reelected every 2-4-6 years Until that changes, nothing else will change.

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Crash Course Chapter 4: Inflation

Chapter 4, Part 1

by Dr. Chris Martenson
Chris Martenson’s Peak Prosperity

If you can understand inflation, you have a shot at understanding how the world works, and where it’s heading economically.

Unfortunately, inflation is almost never taught properly in schools, if at all, and it’s mischaracterized in the press, over and over again.

They all keep talking about inflation as “rising prices” when it’s actually “falling money.” That is money that’s losing its purchasing power.

Continue Reading at PeakProsperity.com…

Conspirators for the Constitution: When Anti-Government Speech Becomes Sedition

by John W. Whitehead and Nisha Whitehead
The Rutherford Institute

“In a time of deceit telling the truth is a revolutionary act.” – George Orwell

Let’s be clear about one thing: seditious conspiracy isn’t a real crime to anyone but the U.S. government.

To be convicted of seditious conspiracy, the charge levied against Stewart Rhodes who was sentenced to 18 years in prison for being the driving force behind the January 6 Capitol riots, one doesn’t have to engage in violence against the government, vandalize government property, or even trespass on property that the government has declared off-limits to the general public.

To be convicted of seditious conspiracy, one need only foment a revolution.

This is not about whether Rhodes deserves such a hefty sentence.

Continue Reading at Rutherford.org…

The Great Student Loan Nonpayment Boondoggle is Over and Household Spending is About to Collapse

from Zero Hedge

In the small print detailing the end of the debt ceiling melodrama which, as we explained, is a farce as it boosts inflation-adjusted spending contrary to Republican promises, there was some actual news: the great student loan boondoggle is about to come to a screeching halt, after a three year “emergency pause” which redirected tens of billions in dollars away from mandatory student loan repayment to other forms of discretionary spending.

According to Goldman, the agreement announced on Saturday between uniparty leaders Joe Biden and Kevin McCarthy titled hilariously the “Fiscal Responsibility Act”, prohibits the Biden Administration from extending the pause on student loan repayments in place since March 2020, even if it does not block the Administration’s student loan forgiveness plan, which would wipe out up to $20,000 in federal loans per borrower and is currently being weighed by the Supreme Court (the plan was announced last year but has not yet implemented).

Continue Reading at ZeroHedge.com…

Biden’s Scheme is “Cynical and Manipulative”

by James Rickards
Daily Reckoning

This is a financial newsletter, not a political one, much less a partisan one. But politics affects markets. And if I come across as partisan when weighing in on politics, so be it.

But it’s based upon objective analysis. Having gotten that disclaimer out of the way, let’s get started…

The Biden administration is playing political games with one of America’s most critical national security assets — the Strategic Petroleum Reserve (SPR).

This is not the first time. In fact, it’s a continuation of political oil price manipulation begun in early 2022 in an effort to manipulate the mid-term elections in favor of Democrats.

Continue Reading at DailyReckoning.com…

Higher Unemployment Won’t Stop Wages From Rising

by Charles Hugh Smith
Of Two Minds

The net result of these dynamics is official unemployment can soar but employers will still be scrambling to find qualified, willing employees.

The labor market is viewed as a sea of fluid workers. When one industry shrinks and lays off workers, it’s presumed the workers will find employment in an expanding sector. So laid-off construction workers will transition to insurance sales, become waiters, go back to school to train for jobs in the healthcare sector, and so on.

It’s also presumed that young workers will automatically be hired and trained in whatever sectors are expanding. The fresh clay of high school / college graduates will be molded into whatever workers employers need.

Continue Reading at OfTwoMinds.com…

Banging Our Heads On the Debt Ceiling

Plus: A listener question cross-examines prior Reason Roundtable discussions surrounding immigration, economic growth, and birthrates.

by Matt Welch, Katherine Mangu-ward, Nick Gillespie, and Peter Suderman

In this week’s The Reason Roundtable, editors Matt Welch, Katherine Mangu-Ward, Nick Gillespie, and Peter Suderman untangle the holiday weekend debt-ceiling deal between President Joe Biden and Speaker Kevin McCarthy (R–Calif.) and consider the recent sentencing of Oath Keepers leader Stewart Rhodes for his role in the January 6, 2021, Capitol riot.

0:36: President Biden and Speaker McCarthy announce debt-ceiling deal

17:32: Oath Keepers leader Stewart Rhodes sentenced to 18 years in prison.

29:24: Weekly Listener Question

42:36: Ron DeSantis officially announces his run for the White House

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Continue Reading at Reason.com…

The Decline and Fall of the American Empire

by Steve McCann
American Thinker

A cursory examination of history reveals that the United States is mired in the same process that precipitated the collapse of the great empires of the past. The foibles and failures of human nature and their impact on the rise and fall of empires is amazingly consistent and the end result always inevitable. Can this nation avoid a similar fate?

Empires are defined as great military and economic powers encompassing large occupied or controlled land areas. Although they vary greatly, they average around 250 years in duration. The United States will be celebrating its 250th anniversary in 2026.

In 1976, Sir John Glubb, a distinguished British diplomat and general, wrote an essay on the fate of empires throughout history. He enumerated, based on 3,000 years of historical data, the six various stages in the rise and fall of empires.

Continue Reading at AmericanThinker.com…

The Debt Schlemieling

by Craig Hemke
Sprott Money

Another deal to extend the debt limit of the U.S. government appears to have been reached. If that’s a surprise to you, then I guess you haven’t been paying attention over the years.

The farce of the “debt ceiling” is simple political theater and nothing more. For decades, cynical politicians have used the imagined “catastrophe of default” as a tool to stoke division and score political points, usually just before major elections. Both sides of The Uniparty will ultimately claim victory, allowing their partisans to rejoice while the public at large gets fleeced.

Completing the absurdity is the fact that the U.S. is now back to a “date certain debt ceiling”.

Continue Reading at SprottMoney.com…

JPMorgan Chase Transferred $347 Billion in Debt Securities Over the Last 3 Years to Inflate Its Capital Using a Controversial Maneuver

by Pam Martens and Russ Martens
Wall Street on Parade

Wall Street mega banks, as well as others, are moving vast amounts of their debt securities from one accounting category to another accounting category in order to stretch out unrealized losses over the life of the instrument. As the FDIC chart above indicates, as of December 31, 2022 unrealized losses on investment securities at U.S. banks stood at more than $600 billion.

According to JPMorgan Chase’s 10-K (Annual Report) filings with the Securities and Exchange Commission, over the past three years it has moved a total of $347 billion (yes, “billion” with a “b”) of investment securities from the accounting category called “Available-for-Sale” (AFS) to the accounting category called “Held-to-Maturity” (HTM).

Continue Reading at WallStreetOnParade.com…

What Are Manhattan’s Older Office Towers Worth? First Benchmark Prices in the New Era

by Wolf Richter
Wolf Street

Whoever buys the defaulted loan gets the tower. So far, investors and specialized lenders have been on the hook, not commercial banks.

The market for office towers is starting to thaw just a tiny bit, and some sales have now occurred or are on the horizon, with massive markdowns that serve as benchmarks for future deals. Until these sales occur, no one really knows what older office towers are worth in the new era of working from home and vacant office towers.

In Manhattan, sales of office buildings have collapsed from $5 billion in Q1 2022 to just $489 million in Q1 2023, the lowest sales since 2009, according to MSCI, cited by the Wall Street Journal.

Continue Reading at WolfStreet.com…

This is the End of a Mega-Cycle

by Michael Snyder
The Economic Collapse Blog

Have we finally reached the end of the road? When it comes to the economy, most of us focus on short-term cycles. In recent years there have been times when the economy has been growing and there have been times when the economy has been shrinking, but all of those short-term fluctuations have happened in the context of a long-term trend of debt-fueled “growth”. We have been relentlessly stealing from the future in order to make the present more pleasant, and most of us pretend that the piper will never have to be paid. But of course the truth is that a day of reckoning is fast approaching, and that day of reckoning is going to be immensely painful.

Earlier today, I came across a tweet by End Wokeness that really does a great job of pointing out the harsh reality of what we are facing…

Continue Reading at TheEconomicCollapseBlog.com…

Wanted: Corrupt Stooge for High Political Office. Must Have Pulse.

by Simon Black
Sovereign Man

With only days to go before the federal government of the Land of the Free defaults on its debt, it appears that a compromise may finally be on the horizon.

As part of the bargain, both sides have agreed to slash part of the $80 billion in new funding that the IRS was awarded last year.

This is quite a blow to the President, who sold his plan to beef up the IRS last year by saying that the agency would capture up to “a trillion 300 million billion dollars if we hire more IRS agents.”

A trillion 300 million billion? That sure does sound like a lot of money.

Mr. Biden, of course, never seems to have much of a handle of arithmetic (nor anything else).

Continue Reading at SovereignMan.com…

What About the Ceiling?

by Karl Denninger

The details are still a bit thin but…..

There is no reduction in the debt on the table. That is, the government refuses to cut spending to less than what it can take in via taxes.

The growth in “mandatory” programs, specifically CMS, is where the problem is as I’ve pointed out for 30 years, all the way back to long before this column was originated and when I was running MCSNet. Its a math problem when you get down to it, but that also means its a serious political problem because waving your arms around will do nothing.

What makes it worse is that all of it is illegal. 15 USC Chapter 1 makes what our medical and pharmaceutical firms do on a daily basis federal felonies carrying 10 year prison terms — for each person screwed, and each occurrence. Two decisions, Royal Drug (440 U.S. 205 (1979)) and Maricopa County (457 U.S. 332 (1982)) both found that there is no immunity from anti-trust law for medical providers, medical “insurance” companies or drug companies.


Continue Reading at Market-Ticker.org…

Covid-19 Bioweapon Catastrophe is Murder – Dr. Pierre Kory

by Greg Hunter
USA Watchdog

World renowned CV19 critical care and pulmonary expert Dr. Pierre Kory is now running a full-time CV19 vaccine injury practice. With more than 675 million CV19 bioweapon/vax injections in America alone, he has a lifetime of work ahead of him. Kory says, “We live in a country where there is a humanitarian crisis unfolding, and it’s being kept a secret. . . . Most of society is just humming along thinking vaccines are ‘safe and effective,’ and they don’t understand that these vaccines were a humanitarian catastrophe. It really affected the health and the survival of us as a country. In a two-year period, the average life expectancy of Americans went from 79 years old to 76 years old. Who has to die to produce that kind of reduction? It’s not 80-year-olds who are dying. It’s young people dying that drives such a change in our average life expectancy.”

Dr. Kory says this is no small medical mistake that produces this sort of “unfolding humanitarian catastrophe.” Dr. Kory is out with a new book called “The War on Ivermectin.” Dr. Kory contends it was not only a war on Ivermectin but a war on doctors who wanted to use it. Dr. Kory says, “They have the tools to punish you locally, regionally and, in my case, on the national level. It really was a war on good doctors.”

Continue Reading at USAWatchdog.com…