Chris Answers Your Questions (Part 1)

questions you would most like to hear Chris address in an interview. You weren't shy!

I sat down with a stack of your questions ranging from precious metals investing to global warming to what Chris does to blow off steam and grilled Dr. M as best I could.

The good news is that there's a lot of meat in here for the serious CM.com reader. The 'bad' news is that we only made it halfway through your questions so we'll do this again soon if the feedback from this interview is positive.

Let us know your thoughts in the Comments section below. And if there are questions you'd like Chris to address in our next interview with him, add them here.

Click the play button below to listen to my interview with Chris (runtime 41m:58s): 

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Or click here to read the full transcript.  


 

Our series of podcast interviews with notable minds includes:

This is a companion discussion topic for the original entry at https://peakprosperity.com/chris-answers-your-questions-part-1-2/

Thank you Chris.  You presented your views in a lucid way that we can all use to better understand your message.  I look forward to your next podcast.
The one segment that most struck home is the last in which you commented on whether tptb understand the concepts and issues dealt with on this blog.  I have long wondered about that and suspected that you are right.  They do.  To me that is particularly sinister as they seem to be doing nothing to address the many problems or to even prosecute the many malefactors who plunged the economy into it’s near (and it isn’t over) collapse.  After listening to the podcast I ventured over to tfmetalsreport.com where Turd is in fine form today.  He posted three articles by Jim Sinclair and another by Jim Quinn that paint our current circumstances in rather dire terms.

http://www.tfmetalsreport.com/blog/3394/latest-jim-quinn

http://www.tfmetalsreport.com/blog/3392/whats-santa

I’m wondering whether you view our situation similarly, and if so, how you maintain your emotional equilibrium and don’t run around with your hair on fire. 

Doug

Please consider doing this on a periodic basis (i.e. monthly or quarterly).
Never seen long term success that doesn’t include bottom up:  1.) involvement, 2.) empowerment and 3.) feedback.

This partially facilitates this.

Note:  Your comments that key decision makers are aware is key.   Essentially too many promises, not enough will to change until we crash.   Investments to consider…enough said.

 

Nichoman 

I always get nuggets of wisdom from Chris.  My biggest jewel from this interview is when he said there is a tremendous gap between the policies our politicians are pushing for and the reality that even they know is true.  It was inconceivable to me that someone can act contrary to their own knowledge on matters of such importance, but I believe it 100% that this is going on.  I remember Daniel Hannan’s blasting the English Prime Minister for doing the same with debt over there in the UK about two years ago.  Amazing but true…

Hi,
I just listened to the podcast, it was excellent.  Hope you guys continue to do this.  I am sure the number of questions from visitors will go go up and down.  Let us know if you need more.

I found the section near the end about the current crop of politicians and business people being aware of the possibility of a 3E future kinda sad.  I used to be in politics.  Was a member of the Vermont Legislature.  I think it is awful that a group entrusted with the leadership responsibility of a society… refuse to take action.  Either they have the information and shrug it off or they are totally shirking their duties as those entrusted to make decisions.

I have to wonder if they have access to the information and just refuse to believe.

Jason

Adam Taggart: Great. Well, one little commercial to make, too, is that with the new site we will be launching in two months, we will be adding essentially a data dashboard on the site for a lot of the most common sources that you mentioned that you look at. So if folks want to be looking at the same types of data that you are looking at on a regular basis, we will have that dashboard in place.
Yahoo!

 

I’m working on my tax stuff.
I’m confused about this:
Is my bullion an "account" or an "asset"?
It appears to be a different form depending on which it is. 

I’m sure there are many of us that would benefit from an answer on this.
… dons

It never ceases to amaze me how much Chris and I think in parrallel.  I’ve always thought that TPTB must know what is going on, and yet do nothing…  but it is both gratifying and reassuring that he thinks so as well.
Hence my resolute wish that the crash occurs as soon as possible, because NOTHING will happen until their hands are forced to…

What a crazy world…

Great podcast BTW.  Must see about getting involved in the next one!

Mike

What bullion are you talking about?  You really should take it with you on a canoe trip sometime.  Although many have had bad experiences and lost theirs in various bodies of water… I am sure this would never happen to you. Cool podcast Chris and Adam.  I look forward to the new website dashboard… a great idea and one that you can build on as we see it and get the feel of it.  Maybe we could even create some of our own indicators to watch as well, i.e. Dow:Gold ratio, etc…  
I will say this too… one of the things that came through for me was how really bright and attuned Adam is… what a great team!   Thanks, Jim

[quote=dps]I’m working on my tax stuff.
I’m confused about this:
Is my bullion an "account" or an "asset"?
It appears to be a different form depending on which it is. 
I’m sure there are many of us that would benefit from an answer on this.
… dons
[/quote]
Dps
If it is held through an account out of the US the IRS requires a report which I explained in this link. https://peakprosperity.com/forum/june-30-deadline-report-foreign-accounts-irs/59671 As far as I know they don’t require any report if it is held in the US unless you sell it for a gain. If you sell for a loss you can report it to lower your tax. I’m not entirely sure about the US held issue though.
Travlin 
 

Chris/Adam,
Great listen, and I’m really looking forward to that data dashboard!  Perversely enough, ever since leaving the 8-to-5 regular employment world I find I have a lot less time to devote to daily web news and information  .  Being able to see the more critical data and changes in a quick minute would be a godsend, especially when travelling.  As you mention Zerohedge is great and quick in mentioning noteworthy developments, but sometimes it’s too easy to get wrapped up in reading a dozen different things and get sidetracked when I have other things that need doing  .

  • Nick

 Hi, I liked your blog and I personally invite you to join http://www.coollectors.com - The World’s Free Collectors Zone.

We will also be happy to cooperate with your blog such as adding its link to our site.

All the best,

Diane

Chris and community,
Great podcast but I feel like I’ve been called out. As a research scientist and professor who works with and teaches climate science, I’ve been contemplating opening a forum discussion on the matter for a while now. I have gained quite a lot from all of the postings, links and information presented on this site and have been looking for a way to give back.

For those who are interested, I will open up a thread under the "Controversial Topics" section of the forums modeled on some of the "Definitive" threads that I have found very useful about Global Warming (aka Global Climate Change) science.

The intent is to be informative. I will try to provide clear understandable information on what the science (not the various talking heads/activists) can and cannot tell us about global and regional climate change. I will also do my best to answer questions people may have about the matter.

This is an important topic that really should not have been politicized.  I will not treat it in an ideological manner. If you are interested in constructive discussion and the best information I can provide then I will do my best to hold up my end.

[quote=dmger14]I always get nuggets of wisdom from Chris.  My biggest jewel from this interview is when he said there is a tremendous gap between the policies our politicians are pushing for and the reality that even they know is true.  It was inconceivable to me that someone can act contrary to their own knowledge on matters of such importance, but I believe it 100% that this is going on.  I remember Daniel Hannan’s blasting the English Prime Minister for doing the same with debt over there in the UK about two years ago.  Amazing but true…
[/quote]
In all deference to jbarney, most of the politicians are a lot like the rivers on the plains - a mile wide and an inch deep. They tend to triangulate among surface positions without any deep understanding. They are especially ignorant in matters of science. On economics, they stay close to the concerns of their voting public. That is why everyone loves their own congress persons while realizing that congress as a whole is incompetent.

…how did I ever miss that this was on the agenda!? So many conformational statements made in one place. Cool.
OK, the RED pill conversation was terrific. Since I mentally switched from a business that my Father started in 1945 after the War, and I began this new career which was to learn everything about commodities, particularly OIL, and to a lessor degree GOLD (which I have always had a fascination with), and all things Geography, Geology, and politics. I have always enjoyed the business my Father began, and I took over in 1975 after serving honorably in the Navy, as a Sea Bee, and I loved it. After taking the RED pill, I seen the world way differently, the colors were brighter, the smells, my garden took on more significance and my vegetable garden, and the work of amending soils for different plants. I could completely relate to that conversation. My son’s lives changed for the better as my Lady and I moved them to a small 6 acre farm in the country, farm country, from Detroit where I had always lived. It was the year the Tigers won the World Series in 1984. The first question from my son’s mouths were, "so what are we going to do out here?". I looked around and said that "well, I don’t see any kids so I get your concern. I bet they jump on their bikes and ride to the park and play ball or swim in the public pool". So that’s what they did, 4 miles there and back and have had a terrific life, have graduated from college, and live wonderfully. What made this a magical move was it was June, the Tigers in a pennant race, my brother was playing major league ball as a catcher for the White Sox, and they contended for a bit that year too. So it was terrific, especially when Chicago came to Detroit, and we sectioned in the stands with the ballplayers wives and families, and we rooted for the Tigers. It would really piss (White Sox families) them folks off. We would get stuff from my brother after the games because the wives would complain. I just told him, "once a Tiger always a Tiger, I’ll buy my own seats". We laughed, he sucked it up, but nothing changes. I rooted for my brother but my blood flows Tiger D. Jim H. from Livonia knows what I feel. Kaline, Demeter, Colavito, Cash, Wert, Kell, McClain, Lolich, Oyler, Horton, Brown, etc… I met them all. Kaline, I golfed with, with my brother in a four-some. The highlight of MY LIFE!!! 

The ballplayers is where I started buying gold, and is another story.

jrf29 and I have been musing for a few days over at the Podcast you had recently with Charles Eisenstein, and what struck me with your comments about if you were President, and what again was an affirming bit of your thoughts Chris on what you would do. I am sure jrf29 if he listened to this podcast would agree that we are both in line with your thoughts. Personally, I find this very gratifying because it suggests we are on the same page, and that feels great. Your suggestion of paying a billion dollar prize was a no brainer, and should be done to get a commercial sized battery. Lastly, I have thought from day one when Reagan was just starting office that his order to remove the solar panels from the White House was demeaning, of one President to another, and a major set back for the conservation of energy in this country. Not to mention the narrative sent that haunts us today. That being, the American people are somehow entitled to ease, and cheapness of energy. Reagan, who I loved, error-ed big time though with that message. Not in hindsight either, I felt it then, and feel it still now. The entitlement issue hasn’t served us well either because every politician since Reagan has sold the America people on this never to fullfil promise in all sectors of economy, that everything is free. Health care, Social Security, blah, blah, blah. That’s called unintended consequences folks. We’ll pay or we won’t receive the services that’s evident.

OK, my question is related to time. It is my personal belief that we will have several deflationary, and Inflationary events before our troubles get escalated to a Depression or Great Depression and from an Inflationary event to a Hyperinflation event. I have problems with when you (Chris) perceive a Hyperinflation event is likely to occur? As I look around the world all I see is Deflation on the horizon due to DEBT. From Japan, to Europe to China, and an imminent hard landing. All severe monetary contractions. I see the United States needing Austerity, probably taxation, and a balance sheet contraction from Credit/Debt. All these examples are Deflationary. So, I have to bet on what I see. OIL would be another hard driver of Deflation. I also see a tremendous amount of dollar creation that will support allot of Inflation when and if this paper starts moving in the real economy, and it really hasn’t as most reliable indicators show. So, what is this timeline for Hyperinflation?  What am I missing here? Last quick question: Chris I have baggies full of gold necklaces, pendants and such (I have this offsite and protected). Never have I paid anything but spot minus 15% on the weight for this Gold. You never have really talked much about this. If I recall the government never confiscated jewelry so why is this not a part of your narrative here? Have I made a mistake? Thank you

BOB

Thirteen comments and not one seconding Chris’s nomination for Thatchmo for president?  I’m tempted to quote Pat Paulson ("If nominated, I will not run.  If elected, I will not serve." for you young 'uns).  But as a patriotic American, called to duty,  I will serve.  If someone will only fund a SuperPAC, and I’m allowed to lead from Kauai.  It wouldn’t be worth it if I had to move to Washington.  Thanks for the personal and refreshing podcast Chris and Adam.  Looking forward to the next one.  Aloha, Steve.

[quote=robert essian]… I have problems with when you (Chris) perceive a Hyperinflation event is likely to occur? As I look around the world all I see is Deflation on the horizon due to DEBT. From Japan, to Europe to China, and an imminent hard landing. All severe monetary contractions. I see the United States needing Austerity, probably taxation, and a balance sheet contraction from Credit/Debt. All these examples are Deflationary. So, I have to bet on what I see. OIL would be another hard driver of Deflation. I also see a tremendous amount of dollar creation that will support allot of Inflation when and if this paper starts moving in the real economy, and it really hasn’t as most reliable indicators show. So, what is this timeline for Hyperinflation?  What am I missing here? . . .
BOB
[/quote]
While it is true that a lot of debt has already been defaulted, the huge stores of debt are in the nearly worthless paper and derivatives held by the big banks of the world. The PIIGs of Europe can never pay their debts. Greece will default, but it won’t be called a default. What will happen instead is that the Fed and other central banks will monetize the debts - eventually all of them. Eventually all of that thin air money might enter the world economy and that by itself would would be highly inflationary. However, if oil, the actual real source of value in the world, becomes simultaneously in short supply its price would rise to the point that demand would be reduced to the level of the available supply. While oil prices would be high, the net effect of serious oil shortage would be a very depressed world economy. Realities would force us to abandon the growth paradigm and eventually restructure our currencies, perhaps by adopting something like a gold standard.
But suppose that one has prepared for this by buying physical gold. Exactly how one turns this back into liquidity in some stable currency of the future is a mystery to me. At a minimum you will be hit with huge capital gains taxes, and at worst, the government will find some way to take most of your gold’s value. My question is, what is the way out of this wicket?

Good on you for coming out of the closet Mark.I have being trying to find out what the Gulf stream is doing.
Is it associated with this cold snap that we are having in Europe? Do you have any websites that doesn’t begin with a lecture on the fact that the Gulf Strean makes England warmer but does tell you if there is any slowing down of the conveyor?
It would be a tremendous party trick if it stops.

There is already a long thread that is not in the CT dungeon:
https://peakprosperity.com/forum/global-climate-change-it-worth-brushing/5895
Welcome to it.
Doug

 Chir, Adam, hope these kinds of podcasts with Chris can become a regular event.  Seems like a great way, like the "Off the Cuff" segments with Mish, to show what Chris is currently thinking, without taking a lot of time and preparation for the research involved in the Martenson Reports.
Chris commented here and in previous articles his changes in interests and lifestyle from a VP with a big company to a simpler, more full filling life.  I’m not sure about all of the CM audience, but I suspect many of modet means including me have been in a position more like where Chris is now all along, and never had aspirations for high profile, lavish lifestyles anyway and always knew at some conscious or subconcious level a somewhat simpler life was better, even absent the risks of the 3 E’s.   However, should much more austerity be needed or forced upon us in the future, that transistion step could be much more difficult and painful.  I’m curious how much more change Chris feels he needs to make or wants to make in lifestyle henceforth?

Tom