Jason Burack of Wall St for Main St interviewed first time guest, former investment banker and gold stock newsletter writer http://www.miningstocks.com/, Jay Taylor.
Jay hosts the 1 hour radio show, Turning Hard Times into Good Times http://jaytaylormedia.com// and has been writing his paid investment newsletter on gold, energy and technology stocks for 35 years!
During this 40+ minute interview, Jason starts by asking Jay how he found the Austrian School of Economics and why he likes it?
Jay talks about the US going off the international gold standard in 1971 and how it affected him and markets. Jay talks about the PhD Economists at the Federal Reserve and how they are obsessed with high stock prices starting with Alan Greenspan in 1987.
Jay talks about the hypocrisy of Alan Greenspan at length.
Jason and Jay talk about the fundamental problems in the global economy and how there's malinvestment everywhere. Jay thinks there will be really bad inflation coming, then a total collapse and deflation after the inflation is over.
Jason then asks Jay about a stock market crash and Jay talks about how the Federal Reserve and the Plunge Protection Team have prevented the stock market from crashing for years.
Jay then talks about why he owns gold and how he is not particular happy if the gold price rises a lot because it means the economy is collapsing, currencies are collapsing, etc.
Jason then asks Jay about the gold mining industry and if the industry has done a good job cutting costs since 2011?
Jay says the industry was forced to cut costs in order to survive and stave off bankruptcy since 2011. Jay thinks junior gold miners and junior gold explorers will drastically outperform producing gold mining companies and that they are more efficiently run companies compared to big, bloated, wasteful, inefficient large cap miners run as bureaucracies.
Jay also gives one or two of his favorite junior gold stock picks!