Bob Moriarty: Investors Need To Be Very Skeptical In This Year Of The Great Reset
Bob Moriarty: Investors Need To Be Very Skeptical In This Year Of The Great Reset from Energy and Gold
It’s been an eventful last few weeks across financial markets. Gold has jumped ~$70 per ounce in less than two weeks as financial markets have begun to price in Fed rate cuts during the second half of this year. Meanwhile, trade war turmoil has roiled equity markets and industrial commodities such as copper and oil. However, towards the end of last week we saw a sharp U-turn in many market sectors as optimism around trade tariffs and Fed easing encouraged traders to pile back into stocks and commodities. In my latest conversation with 321gold founder Bob Moriarty we discussed a wide range of topics including President Trump and his trade wars to some of Bob’s favorite junior miners. Without further ado here is Energy & Gold’s June 2019 conversation with Bob Moriarty….
Goldfinger: I was mentioning yesterday after I heard the news about Trump banning travel to Cuba for Americans, and I said, “This is the first time in my life, almost 40 years, that I felt like I’m living in an occupied country.” I feel like our freedoms are being taken away from us more and more, and even though Trump has this guise of being a patriot and pro-freedom, a lot of his policies are not pro-freedom, including tariffs on trade and restricting travel and putting embargoes on countries.
Bob Moriarty: Well, let me put it this way. You do what is in the best interest of your own citizens. And I’ll be candid, do you have any idea when the embargo on Cuba started?
Goldfinger: 1960, ’61?
Bob Moriarty: I think it was 1960. The revolution was in 1959, I think the embargo started in 1960, but it could be ’61. My God, it’s like 60 years ago, what exactly … how are we better off by putting an embargo on Cuba? Haven’t we done enough damage to the Cubans?
Goldfinger: I think we have. They’re living in the prehistoric era driving around 1950s Chevrolets, cars that are actually falling apart. They’ve magically been able to keep a lot of those cars together for so long, but even with their ingenuity, a lot of those cars are falling apart just due to rust and old age. But yeah, we’ve damaged that country tremendously, and embargoes on Cuba are a great scapegoat or a great excuse for the politicians, the leaders of Cuba to blame everything on. If anything goes wrong, they just blame it on the US.
Bob Moriarty: Well, here’s what’s very funny. When Castro, Fidel Castro was running the country, what country in the entire world had never changed leaders at the top? Who had had the same leader for the longest period of time?
Goldfinger: Probably Cuba.
Bob Moriarty: Cuba, of course. You’re absolutely correct. Trump does so many things that I simply cannot see any advantage to, and I see lots of downsides to. This whole thing with tariffs, nobody wins a trade war, period, everybody loses. You couldn’t even figure out how much foreign parts there are in an automobile. Automobiles are international now. The idea that you punish somebody with tariffs … And at the same time, it’s making the president of Mexico look like a hero, because they can say, “Well, see these nasty North Americans are pushing us around.” Trump is a bully. Who ever heard of a bully succeeding in life?