Mar 19, 2013|
Anthem Blanchard, Anthem Vault Inc, on Cyprus and Gold
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
-- -- -- -- Increasing gold prices this morning here trading up. Two dollars an ounce at 1606. We are joined by anthem Blanchard CEO of anthem vault incorporated he knows a lot about gold anthem garrido and. Doing great very great to be in the -- -- so yesterday I I have a confession here I was caught by surprise by the Cyprus announcement. Were you surprised by the announcement coming out of -- Well I'd I'd certainly it was the president but I had no idea that -- Cyprus would be coming out there -- During if patty's day weekend here and having having are a credit risk bank holiday. Announcement certainly not but. I have been anticipating for awhile now some sort of Euro area related issue because ultimately. I've always maintain that you can't have eighty. A European Union that it doesn't have a currency union that the line with the fiscal union all of these countries that this different fiscal policies and so. I think that it was disasters built from day one. And I think that you know this could possibly be canary in the coal -- type -- event that. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Well I I think it's an eventuality but I think it's an eventuality that could take -- -- yours it could take months. There really is no there's no exact precedent for it means an addict in two ways one that monetary and urged unions being. It is different and ultimately to you know it does it is ruled that the US. That -- that the US dollar plays and all of this moment that the underpinning. All of that and I think it's it's you're near term very bullish for. The dollar very near term medical community and even more bullish for you know gold over it's ultimately what this is violating its credit -- -- violating. In my opinion. Deposit liability rested well. Quote counter party risk all sorts of risks targeting -- -- here with with Cyprus. So anthem given now that now what -- understand you're talking to a very conservative audience okay yet. Geoff -- Iran in the morning yeah Howie -- you Rush Limbaugh -- the station is all the rush -- I wanna know my audience wants to know could this happen in the United States. I I think it's not I don't think that this exact set of circumstance. Could happen in the United States simply because I think you -- -- hear the Federal Reserve. Ultimately. Took -- the buyer of last resort here but the issue that you have in the Euro area land right now. Is that you have to -- in Germany. Wondering why they should be bailing out citizens as Cyprus versatility as citizens of Spain or Italy or France. We -- things here were people in Iowa and Austin works and why should we be bail out the banks very. Though we we definitely have different flavor of it does mean I think yes I mean I I would contend that any time you have. A fractional reserve central banking system that ultimately doesn't have a beaver on human action. That ultimately. It's going to lead system sort of hyper inflationary event eventually you know it's going to eventually lead to. The destruction of the current instability we've seen that every day and that's -- we -- with these negative real interest rates where the bugler or earning you know less than half percent and often cases and savings account money market accounts these days. And yet -- cost of goods the cost of their -- there health care. You know that there's the cost of their food all of these costs are going up for insurance costs and it is so. -- and and there's not being compensated by you know that that's evening's. Percentage and longer and you know I I think that's ultimately realization not a lot of -- -- are definitely written up Jimmy yet yesterday it was our second. -- largest electronic check purchased the of the year. And -- I don't think it's coincidence that we had you know this Cyprus news and yeah it's it's it. Ultimately -- physical and the longer it is physical property or any it's a form of property legally it's an accounting perspective it's an asset of one so. Eight and that you have. Funds that are held and whether the bank account or a futures brokerage account race stock brokerage account. Alternately their funds that are being you know give it over Entrust to that are -- organization that ultimately are no longer process. It was ultimately a liability eight over Q and that's why things it is FDIC insurance successor SIPC's. About garlic -- let's hold that do -- yesterday he's a guy that's really what I'm trying to get that his -- and on this. I think this is the catalyst for both start really skyrocketing. High. I I I think that we could he gold starts to approach you know 19100 Betty and here I wouldn't be surprised -- 19102000. Your. That's that's why we have -- -- to sell -- if that got the answer is. I I've I really I mean I think that this maybe you view the risk in the news again related but I've seen off of the wires it's been that. You know that the that the government is basically. Not going to agree to these haircuts so first all the circuits themselves and you're basically talking about. Government confiscating deposits that were actually protected up 200000 euros -- the market and -- yes he's here. Yet you know there were gonna have to and a half percent. Shaved off the top and so what now not agreeing to that they've basically would have -- the potential for sovereign default this would be the first time. And in -- Euro area in the Euro actually dominated country Iceland they had their they had their own currency. So noted that there were obviously meter high up there being it is especially UK banks but in this case. You know we we have a situation with Cyprus where there are actual Euro country bureau we have -- -- the country and it's. It's it's a hole. It's it's it's. Brown it's it's all right get it really is an -- anthem I have to run I -- apartment thank you and I am gonna put you on our short list of gold guys on back thank you -- Jim please check decided in the -- -- the ball -- -- -- -- to take you very much very really appreciate the opportunity. It will be.