Business
Dan Oliver, Michael Oliver and Dr. Quinton Hennigh are this week’s guests. Alasdair Macleod has often made the comparison of America’s rapidly declining financial status with that of the French-originated South Sea Bubble. Similar to the U.S. stock market greed now, market greed in France ran unchecked until the system broke down. Then, for fear of his life, John Law the originator of the French get-rich-quick scheme had to sneak out of France disguised as a woman. But his partner Richard Cantillon, recognized the flaw in Law’s dishonest scheme and sold short at the top of the market. The South Sea Bubble is clearly a warning to Americans to exit the current financial markets that are being fueled by the same Kool-Aid-drinking mentality as that of the 1720 South Sea Bubble. Michael returns to update us on his latest view on gold and silver and Quinton will update us on some amazing developments with Novo Resources in Western Australia.