(00:50) - Intro (03:10) - [START] (03:50) - The Greatest Financial Crisis in American History... (06:20) - Half a century into the modern monetary experiment and where it’s headed (07:50) - What does Bonner Private Research mean for YOU? (08:50) - Bill Bonner, Dan Denning, Tom Dyson and Joel Bowman, direct to you (10:50) - Daily musings, weekly podcasts, deep dive investment insights (13:20) - Welcome to Bill’s personal network of investors, analysts and thinkers (14:20) - What you’ll get with your new BPR subscription... (16:50) - The world is changing... this is how we’re changing to keep you informed (20:50) - Sharing is caring! Please invite your friends and family along for the ride... (23:50) - Nimble, dynamic and responsive... a new way forward for a new year. (25:50) - A look at the days to come... and a big thankyou to everyone (26:00) - END

Time stamps - A rough guide... (00:50) - Intro (01:30) - Addison’s intro... (02:50) - Omicron and the wrong way to learn the Greek alphabet (03:50) - Morris, Alive - A novel investigation into the “Idea of America” (04:50) - All fiction is, in the end, autobiographical - Jorge Luis Borges (05:50) - Why it has become fashionable to denigrate America (08:05) - A look inside American culture... from an outsider’s perspective (10:20) - America as the home of the individual (11:20) - From Walt Whitman to Bob Dylan, a legacy of literary independence (12:20) - The uniqueness of the American project (16:20) - Clear and Present Danger: A look at the threats to American culture (19:50) - Why literature? Why draw the line in the sand here? (24:20) - What’s wrong with Marxism anyway? (31:35) - The second coming of Neo-Wilsonian progressivism (37:20) - Progressivism through the 20th Century... and what’s next (39:20) - Breaking out of the echo chamber (47:50) - END

Time stamps - A rough guide... (03:00) - “Helllloooooo Bill...” (04:00) - Bill chimes in on the cult of St. Greta and the COP26 gabfest in Glasgow (06:10) - “A lot of people are making a lot of money out of this green stuff,” Bill Bonner (09:55) - Bill’s take on climate change: It’s a whole lot more complicated than that! (11:10) - Would we be better off with lower CO2? What’s the cost? Nobody knows... (12:10) - Viva la (Brown) Revolution! 7 billion people depend on industrialization (13:10) - Supply Chain Disruptions as a result of energy breakdowns (15:40) - Bill on the true genius of capitalism in a free and open market (17:00) - Adam Smith’s invisible hand and the making of a single pencil (21:10) - Nature is full of tricks and surprises... technology makes it possible to survive them (24:25) - Top down experiments in economic mismanagement... and The Fed’s “3rd mandate” (26:25) - Bill on untruths, public relations and environmentally friendly governance (27:40) - “The Fed has two choices. All the rest is poppycock. They inflate, or they don’t inflate. My opinion is, they’re gonna inflate.” (30:40) - Where is Paul Volcker when you need him? Long, long gone... (31:40) - How the entire elite of America got rich from printing money (33:40) - Lessons from the past... money printing and the great Faustian pact (35:40) - Do the recent elections suggest a cultural pushback? (38:40) - What’s in a name... or a pronoun? (41:00) - END

01:30 - Exercise-induced boredom and economic life after the Fed’s tapering... 01:00 - Auditory enlightenment and the antidote to boredom... 02:30 - Life by subscription and the challenge of valuations in the ‘New Normal’ 05:30 - Building narratives to justify any old theory... 06:30 - The Great Intergenerational Wealth Transfer, from cash flow millennials to asset rich Boomers 08:30 - Asset bubbles, suppressed interest rates and the real value of your time 13:00 - How the Fed’s abuse of its exorbitant privilege paved the way for Bitcoin 15:30 - How to build your own Atomic Bomb (and the investment takeaway) 16:30 - A guerilla army constructs a decentralized alternative to the goosed game 18:00 - The Empire strikes back - crypto bans, regulations and the future 19:30 - What to make of so-called “temporary inflation,” now projected into 2022 21:00 - People still pretty much vote with their pocket books... 24:00 - What big, historic, macro indicators are telling us about the road ahead... 25:30 - What’s really driving Supply Chain Disruptions (hint... follow the money) 28:00 - The Pandemic as de-facto boogeyman for all politically caused ills in life 31:15 - What about the Fed’s (hypothetical... and proposed) 3rd mandate, Social Justice? 33:00 - The Glasgow Hypocrisy Summit - 400 private jets convene...to stop the world burning 37:00 - Putting philosophy aside - is it better to be rich than being right? 42:40 - “The best way to preserve your freedom is not to pick the right candidate, but to be able to take care of yourself” ~ Dan Denning

Time stamps - A rough guide... (00:50) (02:50) - Bill Bonner (03:00) - Advice from father of the bride - Start saving now (04:00) - What to do when inflation hits 50% (Learn mental math!) (05:00) - Trends in motion accelerated by a pandemic (06:30) - The US follows Tokyo... all the way to Buenos Aires! (08:30) - How the country is going down the tubes... let us count the ways (12:00) - How might 2021 years of progress come to a grinding halt? (15:00) - Out shrinking world - How the State curtails freedoms (16:00) - “What makes progress is the ability of people to decide what to do for themselves. It’s freedom.” (17:00) - What we learned from the 20th Century’s 3 Great Mistakes (19:30) - Welcome to the USSA: Saule Omorova and the New World Improvers (22:30) - Public profligacy, private snooping - Big Brother eyes your accounts (23:30) - “The whole idea of democratic government is basically a fraud.” Bill Bonner (24:20) - “The actual value of a single vote in America today is approximately zero.” (29:30) - Bill weighs in on vaccine mandates and the absence of consent (30:30) - Fake whistleblowers and Facebook’s war against competing ideas (35:00) - The corruption of the dollar and the false signals it sends (38:00) - A sneak peek into the future of Bill’s new private research project

(00:50) - INTRO (02:30) - [START] Let’s get to our program... (03:00) - Chris Mayer’s Investment Book Recommendation: Silent Investor, Silent Loser - by Martin Sosnoff (03:30) - The case against custodial management and the concept of “skin in the game” (03:00) - Inside ownership over time and the trend toward duel classes of stock (07:00) - Egregious owner compensation as a potential red flag for investors (08:20) - Lost in the Numbers: Treating money management as a conceptual exercise (10:20) - Art as an test case for subjective value (12:30) - Chris Mayer’s Philosophy Book Recommendation: Philosophy as Poetry by Richard Rorty (13:00) - A look at pragmatism and how it relates to investing (16:00) - A closer look at so-called “experts” and a new way or seeing and saying things (17:30) - Eternal archetypes and the lessons we can learn from them (21:55) - Chris Mayer’s Fiction Book Recommendation: Zen and the Art of Motorcycle Maintenance (23:00) - An inquiry into the nature of quality... and a great road trip (25:30) - A novel written by our host, Joel Bowman: Morris, Alive (26:30) - Special mention for great holiday reads: It’s All Greek to Me by John Mole (29:15) - END

00:50 - Intro 03:00 - Ronan McMahon 04:55 - The lure of Cabo... 05:55 - Zoom Towns - Ronan’s update on a long held trend 07:10 - Trends already in motion: The great COVID accelerator 09:10 - The global migration of the Digital Nomad generation 12:10 - International Living - The advantage of multiple passports and residencies 13:40 - Travel during the time of COVID - From New York to Panama City 17:25 - A word on home schooling and decentralized education abroad 20:40 - Ronan’s own mortgage in Portugal (see pics below) 22:40 - Time to sell high? A look at the rise and rise in US real estate prices 25:40 - Real estate investing in an era of deep negative interest rates 28:40 - The Path of Progress - How Ronan identifies deep value opportunities 29:55 - A Case Study in PoP opportunity: The Riviera Maya 34:40 - A quick look at healthcare abroad - cost, care and your options 41:00 - Healthcare vs. wellness - An international lifestyle to reduce stress and increase a happy, healthy life 42:20 - The life of an International Real Estate hunter - Where in the world will Ronan be next?

(00:50) - INTRO (05:30) - Interview with Dan Denning (06:00) - Told to disembark... (07:00) - Joel’s ESTA visa revoked... or canceled... or suspended... or....not? (09:00) - Please, sir! Don’t send me to the once and future penal colony! (10:30) - Dan’s move to Laramie and the best DMV in the country (11:30) - $80 billion dollars and 80,000 new IRS agents... coming to monitor YOU!! (12:30) - Is the crackdown on physical movement turning into a crackdown on capital flows? (14:00) - Revisiting the Australian Canary in the COVID-19 Coal Mine... (16:30) - Beware the Mainstream Media (yes, still!) (17:00) - Australia as a petri dish to test authoritarian dictatorial impulses (19:00) - The “coming” police state is already here #LockedDownUnder (20:00) - Technological surveillance tools that will be tracking you soon (12:20) - “The most Orwellian technology app in the western world” (23:40) - The Trojan horse the communists always wanted (24:05) - Collective punishment and the impetus toward “safetyism” (26:05) - The Big Media echo chamber and the war on heterodoxy (31:05) - One Party World and the domination of opinion via control of language (33:20) - From “Lockdowns to Lockouts”: The final transition into totalitarianism (39:20) - Australia’s coming Great Beer Rebellion (43:00) - The War on Cash and the assault on personal and financial privacy (47:30) - Are “Lock Outs” coming for your capital? (49:20) - Opportunity Outlook: Wyoming as a safe haven for digital assets (51:00) - The Bonner Private Research Conference... stay tuned for details... (52:00) - Timeline expectations... and why we’re in it for the long haul (53:25) - END

Time stamps - A rough guide... 02:30 - Interview with Rob Marstrand 03:00 - Argentina, Peru and the ongoing Latin American COVID-19 disaster 05:00 - Lockdowns and military rule in Australia 07:00 - Argentina as a leader in terms of day-to-day freedoms 08:45 - De facto vs. de jour rules down on the Pampas 10:00 - Freedom of speech as an endangered animal 11:30 - Waking up in a 13th Century Venetian Cave...lessons from the past 13:45 - The coming destruction of the modern monetary regime 14:45 - A glimpse into an inflationary future 17:00 - First hand lessons in economic insanity from the developing world 20:30 - How to create an entire class of political and social dependents 22:30 - The growth and growth (and growth!) of the welfare state 28:30 - How small ‘c’ conservatism and the working class saved the UK, again 30:15 - Hooray for Socialism! (As long as someone else pays for it...) 33:30 - Brexit and the Crisis that wasn’t 34:00 - The future of the Eurozone without the UK 41:10 - Crisis vacationing for you AND your money 42:00 - Planning a trip? Come to Greece!! 42:30 - Where to invest in a world flooded with cheap money and EZ credit 43:45 - Hunting for profits in the gold:silver ratio 44:20 - Is there value to unlock in the UK markets? 45:20 - UK Independent Wealth and working with Nigel Farage [Learn more about Rob’s work: https://pro.fortuneandfreedom.com/m/1853499 ] 49:00 - Chile, Peru and the hunt for profits in the copper markets 51:15 - The price of an unhurried lunch at the #1 rated parilla in Buenos Aires

Time stamps - A rough guide... (00:50) - Intro (02:00) - START (02:15) - A marital disclaimer from Athens, Greece (03:05) - Don’t believe everything you hear (or read in the newspapers) (04:05) - Greece is open for business... Come visit! (04:45) - Exploring the ancient Greek concept of Xenia (05:45) - Time travelling to a pre-budget airline Europe (07:15) - Public space vs. private anxieties: developing a sense of community (09:05) - Philosophy in the time of Plague - lessons from the ancients (13:00) - The art of cherry picking - the best of the best from the classics (17:45) - Contemporary issues viewed through the lens of the past (20:05) - Rome and the USA: The rise and fall of empires, then and now (22:15) - How canceling history dooms us to repeating its mistakes (22:55) - What can we know? The search for truth, even when we’re wrong (25:15) - The End of Empire and Fall of Nations: A Classical Wisdom Symposium (28:15) - Rise of the historians: Niall Ferguson on Doom Politics (28:45) - Speaker Roster: A who’s who of the coming symposium (31:35) - Ancient Athens... from the comfort of your own home! (33:15) - Libate while I contemplate? Where can I register? (35:15) - Adrift in the Aegean: Where to next? (36:22) - END

Welcome to the No Buy List You’ve heard of the No Fly list before, no doubt... where people are flagged by the government as potential terror threats and denied their right to travel. As with all government programs, this one is rife with inefficiencies and wrongful accusations and plenty of innocent people get caught up in the dragnet. Well, now it’s time to get ready for the No Buy list... At least, that’s according to PayPal co-founder David Sparks... who would know a thing or two about such a list as it is his former company, PayPal, that is leading the charge in this new form of financial ostracism. (Here’s his excellent column on the topic, for further reading.) PayPal has teamed up with such censorial mission creepers as the Southern Poverty Law Center and the Anti Defamation League to create a list of individuals it wants banned from their payment platform. Other fintech companies are expected to follow suit. What gets you on such a list? What precedents are being set? And what will become of the hordes of people denied not just a voice, but potentially their livelihood, too? As these people are increasingly marginalized, are they likely to become radicalized? And might they not then be driven to vote for exactly the kind of authoritarian you wouldn’t want in charge of such a dangerous, Orwellian architecture of permission-based living? I’m joined today by The Bonner-Denning Letter’s co-author, Dan Denning, to talk about privacy, censorship and the long arm of the government, working hand in glove with Big Tech and now Fintech, too, to suppress dissent, silence opposing voices and punish non-compliance. We’ll have all that and plenty more in my conversation with Dan Denning, below... Time stamps - A rough guide... 00:50 - Intro 02:50 -Tokyo 2021: The political olympics 06:00 - Mask mandates, vaccine passports and other cognitive dissonances 06:40 - FANGMANS - Meet your new corporate overlords 08:10 - Is the earnings season blowout a prelude to a blow-up? 09:30 - When Big Tech becomes the government’s speech police 10:15 - Modern facism and the propagation of “Bigness” 11:40 - The S&P is now at 183 days since a 5% correction 14:00 - Recursion, M.C. Escher and the great puppeteer effect 15:00 - China’s Social Credit Score comes to America 18:30 - The White House watch list... Are you on it? 20:30 - When the powerful set the rules, there’s no recourse for the powerless 22:50 - Panem et circenses: Stock market as circus; stimmi handouts as bread 25:00 - You’ve heard of No Fly lists... get ready for the No Buy lists 27:25 - Participation in civil society as a subscription only concept 29:25 - When everything is either prohibited... or mandatory 30:55 - Meet the “Safe, government-backed settlement asset” (LOL) 31:30 - Is now the time to make a move... and to where? 32:30 - How to radicalize tens of millions of people 34:30 - Gunpowder, information, technology and other force multipliers 38:20 - Are central bank digital currencies a threat to cryptos...or a case for them? 43:00 - END

Eoin Treacy, our guest on this week’s BPR Podcast, reckons part of it has to do with our all being reduced to “mere cash flows.” Where our forefathers were typically asset oriented, younger generations tend to embrace a kind of “Life by Subscription” model, which is packaged and sold to them as trendy minimalism... but really represents a transfer of wealth from paycheck-bound renters to asset rich rentiers. Combine this trend with rising inflation and one begins to understand why a whole class of economic outcasts is starting to wonder what exactly it was they signed up for... and just how hard they’re going to get it. Time stamps - A rough guide... (00:50) - Intro (03:45) - Eoin Treacy (04:05) - A history of very short visits to the Middle East... (04:45) - Self censorship in the Dubai media... and the consequences for non-compliance (06:45) - Exodus: The Great California to Texas migration (07:30) - Rising violence around America’s metropolitan centers (09:15) - Violence as a cycle, and where we are right now (11:30) - Eoin’s journey: From philosophy’s big questions to technical analysis and beyond... (12:45) - The first question every investment bank asks new recruits (13:45) - Philosophy, as investing, is really about analysing arguments (14:30) - Inflation vs. Deflation - two sides of the same coin? (16:25) - Life by Subscription: What happens when we’re reduced to “cash flows” (19:45) - Autonomous vehicles and the coming war against private ownership (22:40) - Low interest rates and the Great Experiment Economy (24:55) - The “platform effect” and the great wealth transfer (25:55) - The Airbnb Model and the benefits for asset owners (26:50) - The Great Reset and the future of “Asset Light Living” (30:20) - A history of serfdom and the coming peasants’ revolt (33:00) - Generational Rifts - today’s 40yr olds vs. 40yr olds of yore (35:15) - There’s a lot of ruin in a vastly distributed United States... (36:30) - Mechanisation: The left behinds, both in the US and Abroad... (39:00) - China’s giant real estate debt problem (and pending default?) (43:00) - A Black Swan coming out of the Middle Kingdom (44:30) - How private investing is like international beauty contests (46:00) - The case for Mexico (and a bad case of national PR) (48:40) - The Real Big Fish - Tracking pelagics in the world’s premier scuba locales (50:30) - Eoin’s work, where to find it, how to follow www.fullertreacymoney.com

Up, Up and... away! Prices are on the move again, Dear Listener. Latest official figures (such as they are) tell us that Producer Prices rose 7.3% for the month of June. Consumer Prices were up 5.4% over the same period, the biggest CPI gain since August, 2008. Core producer prices were up 5.6% year-over-year. Where to from here, you might be wondering? To help answer that question, I caught up with Dan Denning earlier this week. We talk about what’s behind the rising prices, the flat out lies the Fed’s are spinning and what you can do to avoid the fallout of their hubristic undertakings. Time stamps - A rough guide... (01:45) - [START] “You were in town for the ballgame...” (03:40) - All Star Baseball marks a time for unity... and a time for division (05:10) - Covid, equity, injustice and public posturing and the cause du jour (05:40) - Inflation USA: Land of the $12 hotdog and the $15 beer (08:05) - “We will continue to be your single source of truth,” Jacinda Ardern (08:40) - Should the government monitor text messages to ensure “truth” (12:25) - Who gets to set values and determine priorities in society? (13:00) - Christine Lagarde’s and the ECB’s war on cash and economic privacy (15:10) - the government is taking over the housing industry... again! (15:50) - Inflation is going to be higher than you expect. What to do? (21:15) - What happens to middle class wages when there are millions of job vacancies? (22:55) - The Great (and Growing!) American Wealth Divide (26:15) - What happens when sky high asset prices teeter... or even fall? (28:15) - Scanning the horizon for the next Black Swan... (30:15) - The never ending Lock Downs Down Under (35:15) - Technocratic linguistics and the idea of language as a frontier for freedom END and End of tape...

What can the average salary earner do to prepare for the triple specter of rising inflation, rising interest rates and rising taxes? What business do world-improvers and do-gooders have predicting the needs of the world 50 years out... while imposing their plans in the here and now? What happens to revolutionaries when it comes time to confront their own sordid pasts? I posed these questions, and plenty more, to Bill Bonner when I caught up with him earlier in the week. Bill is happily ensconced in Youghal, Ireland, where he just welcomed the 7th Bonner grandchild into the fold. We begin our conversation by imagining what the world might look like when the next generation reaches college age. Please enjoy my conversation with Bill, up next... (00:50) - Intro (01:45) - Start (02:30) - Bill reports from Youghal, Ireland, on the state of affairs there... (04:15) - Looking ahead to the world one generation from now (05:35) - Grandpa Bill’s “wet blanket” investment advice (08:10) - “It’s a fantastic conceit to think that whatever we want no is what the world needs years from now.” (09:05) - A the distinction between private undertaking and public folly (09:45) - Lockdown grievances and the definition of “essential” vs. “non-essential” work (11:20) - A common thread for all central planners (13:00) - Living with government meddlers - Living free in an unfree world (14:30) - The “Workers’ Party” - Eternal enemy of the Working Class (15:45) - Are we beyond full employment? (16:30) - “There’s no man so conservative as a revolutionary who has just seized power.” (16:45) - News from Nicaragua... a tale of (yet another) revolution gone bad (22:20) - Uncrowded beaches, uncrowded trades, uncrowded investments... (23:00) - Bill’s latest Trade of the Decade: An update... (25:00) - Inflation: What the government wants, the government shall get... (26:00) - $10 Trillion: Welcome to the fake money boom! (29:00) - The Housing Boom as a “bridge” between the Financial and Consumer markets (33:00) - Are the Feds about to “Go Big”! (34:00) - What can the average citizen do to ride out the coming storm?

There was plenty to discuss earlier this week when I caught up with my good mate and co-author of the Bonner Denning Letter, Dan Denning. From my temporary digs in Sarasota, FL. and his Rocky Mountain bolthole in Colorado, we looked at rising prices across the land, compared past recessions to the Great COVID Crash of 2020 and touched on a new term that we think you’ll be hearing a lot more of in the future... “Climate Lockdown” We also spoke about the important difference between Huxlian vs. Orwellian dystopias and wondered which might be in store for us all next (and what we can do to avoid the fallout!) Please enjoy my conversation with Dan Denning, below... Time stamps - A rough guide... (00:50) - Intro (02:55) - Hello Dan... (05:20) - News from Dan’s Rocky Mountain Bolt Hole (06:25) - Inflation, Inflation, Inflation! (10:25) - “Short term, everything is expensive. Long term, it’s going to get worse.” (10:45) - Inflation -> Deflation -> More inflation -> and Ka-Boom! (12:00) - The $2 Trillion Company Club - Apple, Microsoft, Amazon... (17:15) - Comparing the 2020 crash (and 2021 recovery) with past recessions... (21:05) - Why the government NEEDS low interest rates (22:30) - “You want me on that wall... you NEED me on that wall!” (23:05) - $350 for dinner? A sign of things to come... (24:45) - When rising food prices translates to political unrest (27:25) - Are we seeing the emergence of Universal Basic Income? (28:50) - Get ready for Climate Lockdowns (32:00) - Was Huxley more right than Orwell? (32:45) - The Stability nightmare and the Age of Big Daddy Government (37:00) - In the end... what can YOU do?

Time stamps - A rough guide... (00:50) - Intro (05:13) - Talking with Chris Mayer (08:15) - American hospitality - how the travel industry is rebounding after a dreadful 2020 (09:30) - TSA throughput numbers approach pre-COVID levels again (11:20) - Consumerism rebounds - high end stores see roaring demand (12:10) - Savings rates go vertical - a global phenomenon (12:25) - The Big 3 - Rising Inflation, Rising Interest Rates and Rising Taxes (19:20) - The coffee can portfolio - a rewarding exercise in patience (22:20) - College Funds as Cicada Portfolios (23:50) - Profit per Employee - a new metric for dynamic companies of the digital age (25:00) - Evolution Gaming and viewing profitability in a whole new way (28:00) - Following (and investing in) the Great Digital Migration into the 21st Century (31:00) - Questioning the value (and the price tag!) of traditional college education (33:30) - The rise and rise of Rappi and the food delivery phenomenon (39:00) - Mayer’s Top Ten - Running a tight portfolio and concentrating on winners (40:35) - Traveling light - a metaphor for keeping space tight and standards high (43:20) - Mental exercises for avoiding panic selling and FOMO buying

In this, Episode #27 of the BPR Podcast, I caught up with my old friend and founder of Agora Financial, Addison Wiggin. Over the course of an hour or so, Addison and I talked about the books that matter to him, why we should resist growing calls to “cancel” the western canon, how politics has changed over the course of the US empire, and why having fist fights at 40,000 feet is probably not a good idea. We also looked at exploding government debt in a “post-covid” world, reminisced about his “big budget” movie, I.O.U.S.A. and wondered what the classically trained Founding Fathers would think of the current state of the union. All that and more in my conversation with Addison Wiggin, below... (00:45) - Intro (04:20) - Interview (07:50) - Addison on his unique and formative experience at St. John’s College (14:35) - Eva Brann and the value of the examined life (18:05) - The road less travelled... takes Addison to Annapolis (19:05) - From Annapolis to Agora (21:05) - Claude Bernard’s scientific method and standing on the shoulders of giants (24:35) - Can the classics survive “cancel culture”? (28:00) - Literature and the “Lindy Effect” (29:30) - The mark of an educated mind and the definition of classical liberalism (32:45) - “Nobody is trying to be civically responsible, not in the age of social media. They’re just trying to win votes.” Addison Wiggin (33:15) - It’s not “right” vs “left” as much as it is “liberal” vs. “Illiberal” (38:40) - From the Founders Fathers limited government to the Post Pandemic supermonster - lessons in the growth and growth of the governmental apparatus (41:00) - I.O.U.S.A. remembering a “big budget” movie (45:00) - The case for optimism - is this the beginning of a New Era of Prosperity? (46:40) - The central flaw of modern western democracies (50:00) - “Never let a good crisis go to waste,” said every government, ever. (49:55) - Civil liberties in America - an outsider’s perspective (55:30) - Why a healthy democracy needs space for opposition (57:30) - Examining the facts on the ground - Addison heads to Greenland (1:03:00) - A useful corollary to Gresham’s Law from Saul Bellow (1:04:00) - That which one does not know, one ought not claim to know

Time Stamps... a rough guide (05:10) - Welcome back to the USA, a stroke of Dumb Luck for the Bowman Family (06:30) - America Unmasked! Dan checks in from his Colorado Bolt Hole (07:25) - Is it full speed ahead for a post COVID-19 America? (08:15) - News from Dan’s side hustle as a parks and wildlife advocate (09:00) - Retail and air travel take off once again (11:00) - What tools, if any, do the Feds have in their arsenal to contain and control inflation? (12:15) - Median house prices across the US up 19% Y.O.Y. What is that telling us? (13:00) - De-dollarization - the stampede out of fiat and into hard assets (13:20) - Meat, food, energy... prices are up, up, up and away! (14:00) - Zoom Town USA - Notes from the 6th great migration (16:30) - FOMO coming to a housing market near you, soon! (21:00) - Dan talks the gold silver ratio and a potential buying opportunity for metal heads among us (22:30) - Silver trades at a significant premium to the spot price (23:15) - How best to invest in physical silver. “If it’s not in your hot little hand, it’s not yours.” (24:30) - Dan Denning does his best Bill Bonner impersonation (25:15) - Three resets happening as part of the one, great reset... (26:15) - “We’re being groomed to become bug eaters.” (26:30) - Latest news from everyone’s favorite Doom Goblin (Greta Thurnberg)

A man goes to see an epidemiologst to ask, “When will this pandemic be over?” “How should I know?” the epidemiologist replies, “I’m not a politician.” Ah yes, dad jokes. More truth than humor, no doubt. this week I caught up with the co-author of the Bonner-Denning Letter and one member of the so-called Aussie diaspora, Mr. Dan Denning, who currently resides in Colorado but who proudly called Melbourne home for a happy decade... We spoke about the situation Down Under, vis-a-vis immigration and border closures, the lockdown and lock out, plus the importance of standing up for your hard won rights and liberties. Dan also mused on the inflationary creep going on in the US, where prices for raw materials - lumbar, iron ore, base metals and such - are beginning to seep into the broader economy in a very real way. For those of us who, say, consume food and energy, that means higher prices at the store and at the pump. And for those who live on or near the margin, which as we saw over the past year is many more than you might think, that means some tough decisions ahead. All that and more we cover in my conversation with Dan Denning, up next... Time stamps - A rough guide... (00:50) - Intro (07:45) - An Open Letter to Australia (09:30) - An Aussie news play-by-play: Fear and trembling Down Under (11:00) - “When you control the message, and the message is fear, it’s not surprising that’s what you get.” Dan Denning (13:05) - What happened to asking questions? To standing up for our rights? (16:30) - The age old false dilemma: Liberty or Security (17:25) - Turning to the US and the maybe, possible, probably return to normalcy... (18:55) - Consumer Price Inflation - To the moon? (19:50) - Inflation is becoming a psychological phenomenon now (20:40) - US Jobs Outlook: When you pay people not to work, people to a good job at it (22:00) - Tom Dyson’s take on shipping stocks and raw materials (24:00) - Money printing: The point at which inflation goes from theoretically possible to practically catastrophic (28:00) - When it comes to free money, credulity is the limit (29:30) - Interest rates are the ones to watch... (30:45) - What ever happened to the bond vigilantes? (32:20) - The corrosive effects of unsound money on the broader economy (33:30) - The Japanese Story... and why it’s fundamentally different to the US (35:45) - Two transportation metaphors: The Titanic and Aeroplane Take-off Speed (39:00) - When incentives change from patience and prudence to borrow, borrow, borrow!

A decade ago, almost to the month, a man arrived at my apartment here in Buenos Aires with a bottle of Malbec under one arm and a crazed, almost fanatical look in his eye... He had come to tell me about a nascent payment system he had uncovered, one that he thought had the potential to “revolutionize money, markets, man’s relationship to the state... everything!” By the look of him - disheveled, coffee-wired, more intense even than usual - I assumed he’d been up for days on end, doing the proverbial “deep dive” into the whole project. I was right. (But not as right as he was!) Over the course of the next few hours - and a few glasses of the aforementioned vino - my friend explained to me the ins and outs of an ingenious technological breakthrough... one that had been, literally, thousands of years in the making... As you’ve probably guessed by now, that payment system was (and in some ways still is) Bitcoin. And at the time, back in early 2011, you could buy one (becoming what is now known in the hallowed halls of Bitcoinlandia as a “whole coiner”) for less than a cup of coffee - or about $1.50. Time stamps - A rough guide... 00:50 - Start - Introducing Marcelo and the Bitcoin Story 01:50 - From gold, to Bitcoin and beyond… 02:30 - Why Bitcoin in the first place? A civilizational shift in technology... 03:40 - The Global Financial Crisis, the genesis block and the birth of Bitcoin 04:20 - The important reason Bitcoin is a “peer-to-peer cash system” [Banner] 05:40 - How fiat money is the most efficient way to rob you 08:40 - The need for a money that reflects scarcity in the real world 11:40 - E-gold and the failure of market-based money alternatives before Bitcoin 13:00 - What Bill said?: BPR Ep. #22 - https://soundcloud.com/user-463542693/22-bill-bonner-on-the-press-the-so-called-white-supremacy-and-the-illusion-of-free-money#t=38:30 26:35 - The good news: You can “fork the system” 29:00 - When Bitcoin adoption growth became “too good to be true” 30:00 - How Blockstream hijacked Satoshi’s vision 31:30 - Who financed the undermining of Bitcoin? Following the money... 35:20 - The controversial “block size” debate and the BTC/BCH fork 38:00 - Bitcoin fees as a blind auction 49:00 - August, 2017: the birth of Bitcoin Cash (BCH) and a return to the original mission 52:35 - The advantage of free market competition in money 53:50 - Bitcoin Cash as the most widely used cryptocurrency in the world