Dr. Stephen Leeb: We have Destroyed the Fed’s Ability to Act

Tom Welcomes back Dr. Stephen Leeb. He is a financial author, wealth manager, and newsletter publisher. Stephen notes that BRICS+ move has been quite rapid away from Western markets. The Shanghai Cooperation Organization was formed initially between China and Russia. Its goals were security and economic growth. In 1996, India and Pakistan joined. They have a lot of cultural and political differences between them. They were seeking ways to harmonize economic growth while maintaining sovereignty of the nations involved. Likewise, they met recently with other nations like Saudi Arabia and Iran. Culturally they are rivals, but they are coming together. Many other countries are also now wanting to join one or both organizations. The World Gold Council wants to create a worldwide blockchain to bring discipline to the way countries use money. Stephen discusses why the gold standard brought stability to the economic system. Stephen believes that NATO is breaking as countries like Turkey, allies with Russia on gas distribution. Italy intends to exit the European Union and the Euro. Europe as a bloc is beginning to disintegrate. It seems clear that the attack on Nordstream pipeline was done by U.S. interests. Sanctions against Russia and China are damaging the technological growth of the West. He says, "We're at a critical point in human civilization." Time Stamp References:0:00 - Introduction0:44 - BRICS+ Developments12:35 - World Gold Council18:04 - Democracy & Problems22:40 - Evaluating Policies26:32 - Gold & Blockchain?34:00 - Italy & Consequences40:10 - Nordstream & U.S. Policy50:33 - Growth Vs. Sanctions1:03:20 - Wrap Up Talking Points From This Episode * The Eastern approach to economic cooperation among diverse nations.* The World Gold Council's desire to build a gold backed blockchain.* Consequences of sanctions and policies of the western nations. Guest Links:Twitter: https://twitter.com/LeebPhdWebsite: https://www.leeb.net/Website: https://www.stephenleeb.com/Book/Amazon: https://tinyurl.com/y4wphb87 Dr. Stephen Leeb is a recognized authority on the stock market, macroeconomic trends, and commodities, especially oil and precious metals. As Chairman and Chief Investment Officer of Leeb Capital Management, Dr. Leeb combines his knowledge of macroeconomic trends and current market conditions with detailed information about specific companies he follows to guide the Committee's investment decisions. Stephen Leeb is a financial author, wealth manager, and publisher of a family of investment newsletters. He has been a recurring guest on CNN, Fox News, NPR, Bloomberg, and many others through the years. Leeb was also said to be one of the country's foremost financial experts, with Charlie Gasparino in 2016 recommending Leeb as a good candidate for Federal Reserve Chairman. Leeb earned a B.S. in Economics from the Wharton School of Business. He also earned a Master's in Mathematics and a Ph.D. in Psychology from the University of Illinois. He authored research papers on psychology and statistics in the peer-reviewed journal Psychological Reports. Stephen Leeb is married and lives in New York City, New York. Leeb has written nine books on macroeconomic trends, finance, and investment, including the New York Times Best Sellers. Stephen's recent book Red Alert was awarded the 2012 Axiom Business Book Awards silver medal in the International Business/Globalization category.