Marc Faber gives his outlook on the economy

 Dr. Doom's interview can be found here.

https://livestream.com/accounts/3182712/events/9317660/player

U.S. Debt to GDP is Exploding

U.S. total debt to GDP has reached an all time high of 420%. As debt increases and GDP decreases, it becomes more and more important to own precious metals.

How much silver is used in a Tesla?

Keith Neumeyer reported that a tesla uses at least 1 kg of silver.

The latest Tesla delivery numbers in Q3 2020 were a record 139300. That's almost 600000 per year.

If Tesla builds 1 million vehicles per year, that would translate into 1 million kg or 1000 tonnes of silver demand per year. Yearly silver demand is 20000 tonnes today. So Tesla would gobble up 5% of silver demand. The EV industry is growing rapidly, so this number could go up exponential. Tesla says it will 50 fold its production to 20 million vehicles per year by 2030.

In the following 2 videos, Keith says there is 1 kg of silver in a car.

However, the Silver Institute reports that there is only 50 g of silver per EV. So take this information with a grain of salt.

China Growing Rapidly: Power Consumption Hits Record

 China power consumption grew by 7.7% yoy in August 2020.

Helped by Chinese tourists staying at home and using their saved money for themselves, increasing the surplus in balance of trade.

In this environment, the yuan will rise sharply and it is recommended to buy Chinese bonds and stocks. I recommend to put some money in CBON for example.

FOMC Meeting: The Dot Plot Flattens

The Dot Plot has flattened out to 2023.

Old dot plot:

New dot plot:

Uranium Vs. Oil

 Uranium seems to be a leading indicator for the oil price.

Pandemic Unemployment Assistance Claims

The economy is improving because initial jobless claims have been moving lower and that's what the government wants you to believe. 

However, there is this thing called Pandemic Unemployment Assistance Claims, which is moving higher. So the reality is that 30 million people are still filing for unemployment insurance claims.

Michael Pento talks about this here.

Why Endeavour Silver is the Number One Silver Miner

Endeavour Silver has the largest growth potential due to its Terronera project and has the lowest P/NAV due to its large silver asset base of 200 million AgEq.

VIX Vs. TED Spread

The volatility index (VIX) is correlated to the TED Spread. The TED spread is the difference between the three-month Treasury bill and the three-month LIBOR based in US dollars.

Oil Oversupply in the Next 2 Months

Rystad Energy reports that oil will be in oversupply in the next two months. Oil has now fallen back below $40/barrel.

U.S. oil production will also come down.

China to Cut Holdings in U.S. Treasuries

Let's see if China makes good on its promise.

Gold Forecaster Index: Deficit To Outlay Ratio Shows Hyperinflation Risk (03-Sep-2020)

Central Bank Gold Reserves Update June 2020

Not a lot has changed in central bank gold holdings. Turkey and India have been buying gold.

Gold Futures Decoupling From Spot