The Central Bankers End Game - Interview with Keith Dicker
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- เผยแพร่เมื่อ 15 ธ.ค. 2020
- In this video I interview Ice Cap Asset Manager, Keith Dicker. We discuss the global debt bubble, the end game for central bankers, and more importantly what this means for Canadian Real Estate, the bond market, and what policy makers like the Bank of Canada will do.
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Nice interview! Glad to see a real vision-esk conversation about Canada from Canadians. keep the interviews coming. A lot of Canadas are in need of this content. Thank you
I'm a simple man, I see a new Saretzky video I like it.
Steve, I’ve been following you for a while now. I have developed a lot of respect for you and your work. I learn a lot from your videos.
Great episode today 👏 I'm going to have to watch it twice
The one thing that is forsure for us Canadians, more income taxes, carbon taxes, fees, massive inflation and less opportunities overall. It will all continue to go up until it doesn’t and when it comes down..... lord help all our over leveraged “ home owners” ..... big trouble ahead with all this debt.
I think Canada will get bombed first.
Colluding with the50,000Chinese troops that invaded north america last week, will have consequences.
i agree, 2021 will not be a good year for Canada...bubbles all over the place...ready to pop...get out debt if possible...
Amazing interview gents! Appreciate all your share of knowledge and insights
Every Canadian should be subscribed to this channel
Awesome content Steve! Keep it up.
Thanks for all the education Steve! Please bring Ben on a session, would love to hear both of you discuss.
Beauty interview. Steve, I want more videos like this. He lost me at the crescendo, how do you make money from the bond market when it's failing.
when rates go down, bond prices go up. That's the short-to-medium trade.
thanks Steve
It its what it is? Is he serious?
These effin banksters and the central bank, as dictated by the US Fed, have so distorted the housing and equity markets that the end game will be an absolute disaster if allowed, but I don't know how they can stop it.
As someone who has lived through paying the high interest rates of the 80s, now I'm required to pay interest on my saving or put my lifetime savings at an exorbitant risk.
Bye bye pension income and lifetime investments and savings.
@@saretsky I agree. Outside of having an emergency fund...why wouldnt you be investing money when every asset class is being inflated? We gotta trade the market we have, not the one we want or think is right.
Keith has a cool head about this and explains it quite well. Thanks
I live in the Toronto area (Canada) and and was planning to purchase a house since the start of 2020. I decided today that the risk to reward of investing in an overvalued asset like Canadian real estate is not worth it, especially with the instability of the economic climate and future tax implications for home owners. The upside for the market is also very small in relation to other assets that you could be investing in. All of my capital which was going into a house will be in better bets, namely cryptocurrency, precious metals, mining stocks, and specific commodities. I will sleep better not having a large portion of my wealth in an asset that is so heavily manipulated by reckless government policy.
good luck - could work but I would bet the opposite ?
@@Feedback4Utoday Why? Because you're mad that you own overvalued manipulated real estate? Any legitimate macro investor would tell you that investing in commodities, bitcoin and precious metals beats out purchasing real estate at its peak. Especially in an inflationary environment. Good luck to you and your property taxes.
Sell Toronto real estate and buy under valued real estate in Saskatchewan and Alberta . Invest the balance in precious metals , utility , telecom , grocery retailer stocks .
I would have to agree with you 100% I have done the same with the exception of mining stocks......I am waiting for a housing correction, but if that doesn't happen, I am okay with that......at least I have some assets outside the banking system........there are just too many traps with the housing markets(mortgage rates, property taxes, capital gains taxes, and gov't policy of propping up the housing market to disallow a free market)....... one day when it crashes all home owners are going to feel big pain, and you can thank your gov't policy makers for that....... Canada has sold out to foreign investors(mostly Chinese) they can own the country as far as I'm concerned if they don't already
@@stanronald3428 exactly brother. You’re better off renting here and using your returns from your investments to purchase foreign property over the years to come. Canada’s future isn’t too bright after all
I am firmly convinced now that a big melt-up is coming in assets of all types. Whatever you do you do not want cash.
The cue to watch the bond market e.g. Italy should be useful. Thanks!
This was brilliant and very informative!!🤗🤗I'm interested to learn more how this affects Canadian stock,etf investment for the average Canadian?
Btw, What's the name of the speaker's podcast?
Growth can come from tech and the green economy.
Let's start training works so they can update our old infrastructure.
Nice video. Congrats.
Good information, well informed guest. However, some things that allowed us to look ahead and plan may not work in the new normal that shifts goal posts week by week. And it is naive to think that Central bankers are working towards, or even want a solution to problems they themselves have created, by design in the view of many ‘conspiracy theorists’.
Great interview. The audio however is a bit mumbled Can it be rebroadcast clearer
Amazing
Interesting interview. Correct me if I'm wrong but sounded like bottom line is that buying equities in base metals/mining and agricultural companies is the safest way to go????
Bullish on Bitcoin
no , get only physical silver and gold while you still can
@@mariagee1233 You are aware that with internet of things , 5G , blockchain and our very fast technological evolution we are entering in a very evolving digital era. gold and silver yes , bullish on that one too , but bitcoin will be the digital gold, not currency for a long time but an asset. 2020 is the first year that institutions investing milions in BTC , visa and master card already partnership with various crypto transaction companies with that everyone have their cryptowallet bank in their pocket and with the fisical crypto-fiat visa card you can spend your btc everywhere. Pay pal has crypto already , facebook next year will have crypto wallet and with this crypto will have all the world and this will open the doors for faster adoption of crypto and blockchain ! Start consuming blockchain and crypto news so you can make neutral opinion!
You're trying too hard to adapt/conform to the people higher up than you in the hierarchy. The paradigm that they've created for you is to keep you from achieving what you think you're achieving, i.e. financial independence. There's only one type of independence that matters to me - the 5 basics independence - the nuclear deterrent that allows a person to say no to any measure or term that the state might try to impose on him because he has the better alternative. Just because someone has the delusion to think that they are in charge of everyone and they have the authority to take away inalienable rights from people, doesn't mean we have to follow. I take the view that the world becomes a better place when people learn how to reason, and do what is in their best interest. It becomes worse, if you conform to irrational terms imposed on you unilaterally. I don't want to join the borg.
I think this was your best interview. Great stuff.
Steve, where did you get that GIANT light switch?
Lol good eye
I think there's a mirror involved somehow...
I come from essentially the same economic philosophy as Steve and have always had a lot of trepidation around the concept of MMT but I recently heard an explanation of MMT that has made me go hmmm...
The premise: Fiat currency is loaned or spent into existence, goes through a life cycle and then is taxed out of existence.
The current economic model follows a Reaganesc pattern of 'Trickle Down" where the Cantillon effect is in play and the rich, elite or connected 1% get the first dibs on created money and as they spend it trickles down and is taxed out through the broad economy.
MMT theory I heard was simply a shift of the cycle so that newly created money goes out to the broader economy first, goes through a life cycle(hopefully a velocity of 2+) and ends up flowing to the top through corporate profits, then taxed out.
Any thoughts?
Taxed money does not disappear, it gets taken, and then it gets used and is put back into the economy. U are claiming mmt takes money from the poor, to the rich, to the government, to the middle class, all while continuously printing more money while taking a little bit out to pay for interest.
MMT is dangerous. What makes it dangerous is no one can define what, how or where it takes place.
There is no free lunch. There never will be and never had been. Work (productivity) has always been your best bet for a better lifestyle and a better life.
The rich aren’t rich because of luck. They have done it through being good with money (jobs, materials, new products)They produce the most with the resources given. Where things have failed is that our government has allowed people to acquire money without work or producing or doing anything and allowed that system to generate more money for these individuals.
@@JohnSmith-qj7hd I'm not claiming anything. I'm stating that I heard a description of MMT that was different from any I had heard in the past. Maybe reread my comment. Are you familiar with the Cantillon effect? The rich may not get where they are through luck, but they have definitely used their resources to skew the system to their own advantage and to the disadvantage of anyone not born to wealth.
I am underqualified to anaswer, but I think MMT is more of description of how money was created, not necessarily how you use it. MMT is more stating that you shouldn't let dollar supply constrict the economy because you can print as many dollars as you need to pay off your debts if you have a reserve currency. Central banks set the interest rate, but cant necessarily get the dollars out because the primary banks still have to choose to lend it. That is why The govt is backing so many loans because bringing people in the housing market creates loans (and dollars) and gets money to people who could maybe use some help purchasing a house. It work pretty good but the govt wants more tools. One way to get money to parts of the economy you want to stimulate and bypass the primary dealers would be to create accounts with central bank for everyone and then give dollars out to whoever. This would alleviate the contillon effect because the inflationary forces of the added money supply would not yet have affected the dollars. This would also allow the govt to stimluate the economy but not have all that wealth sitting in assets. With MMT I think the scary thing about it is that it implies that govt's should spend more and focus on unemployment as the metric, ultimately creating a more centraly planned economy and shift more of the market to the public sector. I also think though they will still target inflation in the economy overall devaluing your savings. The dollars they give you may have not been devalued by the time they get to you, but that wont be the only way money is entering the economy. You also may not be able to choose how the money is spent if currency goes digital. I think ultimately you are untying money from market forces and giving the govt to much control to misalocate resources. I am unconvinced that the govt creating jobs will boost overall productivity, because I think the jobs they will create will probably be beaurcratic slowing down and leeching off the free market.
What should your average Canadian family (who’s home value has doubled in the past 5 years) do (or not do?)
Great interview Keith and Steve and really enjoyed the Canadian content. Of course I am biased since Keith manages some of my funds.
The creature from jackyll Island amazing book ...
Would it help to stop wasting tax money?
Interesting how you talk about growth. The only way we are going to "grow" is buy lending to small and medium sized businesses. Banks aren't doing that though.
I started a company this year, I was flat out told all small business loans have been halted, by 2 different banks.
Simply put banks would prefer to give out mortgages vs loans to small businesses. If a business goes bankrupt the bank gets nothing but if you default on your mortgage they take your home as collateral
@jcdelpiero CMHC insurance too
Swapping newly minted confidence backed fiat for tangible backed fiat returns.
Great deal for them.
This spring following the brief market correction I was convinced the Canadian economy was a going to be at the bottom of the G7 and lead to a big devaluation of the Canadian dollar. This was based on the debt levels of corporations and the Canadian public as well as the ideological bent of the liberal government. I bought a lot of US dollars thinking that they would be a safe hedge in case of our currency rapidly devaluating.....I’m still waiting but I haven’t rethought my currency bet, am I wrong or just premature?
13:50 Exactly THIS! I'm young and have no debt and I'm trying to save for the future, I'm pissed off about low rates rn. Do your damn job BOC and raise interest rates! If people/businesses are over leveraged and not able to service their debts that's their problem. Why are we consistently subsidizing reckless behaviour!!!?
Good interview. Something no one is really talking about. The CEBA loan program, my small business has received two government guaranteed loans which total $60,000. If I pay it back, $20K is forgiven. It's almost free money for my business paid for by Cdn taxpayers. To me, shades of MMT, government contingent liabilities if I fail to repay. Will this sort of program continue? It's a bad precedence in my opinion and I'm benefiting. It's money creation by the government without using the BOC. They cut out the middle man. We will see where this go.
Question Nick. If you just took the 60 and used the 40 and then gave them back the 20 is the debt forgiven?
@@tmoney-fh2yh I only need to send them back $40k by Dec 31 2022 and the remaning $20k is forgiven.
@@nickb8002 I'm sorry I misread your statement. So what is stopping you from simply spending the 20 and just putting the 40 in a bond for 2 years?
@@tmoney-fh2yh Nothing but the return is pretty low on any bonds these days 😫
@@nickb8002 of course not but the return of $20000 is pretty nice!
Been long bitcoin since early 2019. Fastest horse in the race. Big money coming in.
I'm not accumulating more I'm starting to buy other assets like art uranium other commodities and producer equities. Been dca since early 2019 when it was 3.5k usd lol
Not a single mention of the world bank, IMF china deal eh?
Starts at 2.00
32:45 graph for reference
So graphic. Thanks
Great interview, but why did Keith name his Fund after a Tim Hortons drink? 🤔
If you want real growth, we need to make a drastic change to the way we live. Consumers are over-saturated with the products available. We need to move on from our current tech into a new age. Go from horses to cars... so to say.
Humans always try to beat Nature at its own game, it never ends well.
Bail ins coming, get your fiat out. invest in physical metals
Lyn Alden has some worthwhile insights: th-cam.com/video/JEcH5E5Z00Y/w-d-xo.html
Rates can rise....it will happen one day.
Steve get a mic!
Bump
A BLUE Baby Bottle
or Snowball
So when do we live in tunnels and eat rats ?
soon, real soon. get prepared get food, ammo, physical silver and gold
Is it me or is that light switch behind Steve oddly very large 😆 🤣 😂 waiting for a decent correction so I can get into the market !!!! Yeah rite...... USA SAID 2023 RATES BACK UP TO 2.5% BASE. Thanks Steve !!!! Love these updates keeps me in the loop!!! 👍
It looks like a giant decora switch, but its gotta be an ugly wall sconce, why would a switch be way up high in the middle of now where? Lol
Let me simplify it even more.
BUY real estate ASAP or else you would loose purchasing power.
Everything including groceries are getting expensive so buy if you want to be in the game. You don't have any other option. And I personally agree with that.
No rich person has most of his money sitting in checking accounts unless they are stupid.
It's looking ready to collapse
like the bond market
Just citing what M.Dicker says in this interview about a central bank owning a country: "Corporate decisions would no longer be made to maximize profit for a company, but maximize value for society". This is so much BS, the central bank is going to work, as always, for the central bank's interest. More power, more control and with digital currencies. Keith Dicker have a huge knowledge on this subject but he sees your audience as a bunch of blind idiots.
Same BS as the great reset of Klaus Schwab at the WEF
I'm stacking on cans on tuna. Money is worthless now
We bought our first house with a 12 3/4%mortgage and had no problem paying for it.
Yeah “they’re not gonna run out of money, they’re making it.” They’re gonna suck when they run out of food. Grow up.
Accept the rules of the game and play it. Complaining about the Fed is the biggest loser mentality. Do you want to talk about the game or get rich playing it? Don't fight the Fed.
Until they turn and crush all the little guys. Were not fighting the fed, were confused as to the end game. If you look at what they're doing its financial suicide.
@@donm2067 If you had listened to publications like Real Vision TV back in March and invested your money based on their advice, you would still be sitting on cash. These "commentators" were calling for a depression back in March. Those same people urged everyone to sit with their thumbs up their ass and miss the bull run of 2020. If you are trying to make money by investing, don't listen to people like that.
@@HPhenomenal Good point ! markets are at all time high but if one missed the boat back in March when will be the next opportunities in your prediction ??? Thanks
@@HPhenomenal Oh no Steve is a good honest realtor but too conservative on taking risks. Thanks so much on your view points and happy investing
@@saretsky Don't worry Steve we are big fans of you please keep up your good work with well intents !!! Thank you
Cda is doing a good job at eliminating some of the less clean 'economic drivers' such as oil/gas, forestry, mining, rail/trucking, and US is taking back mfging (auto). The goal is a clean economy based on more taxes and adding govt jobs, fire, police, school, nurses to propel our lifestyle and improve our pride and ability to help those that move to Cda from outside.
only question is when industries are removed .. who will pay for govt, medicine & schools?
The abstracted dietician spectacularly guess because bull biosynthetically pick unlike a electric liquor. grubby gruesome, righteous dead
I'm Alone 😍😥
You’ll find someone. But not on the internet.
I know how to spur growth. Where's a world war when you need one?
Bottom line; throw your money in the EEM. Looks like China won. Time to take Mandarin lessons...😢
The guy talks too much he talks way way too much