In this the sixth episode of the Goldnomics podcast we focus on the Trade War Between U.S. & China

GoldCore CEO Stephen Flood and GoldCore's Research Director and world renowned precious metals commentator Mark O'Byrne in discussion with Dave Russell.

Our discussion starts with the “Tweet” from Ray Dalio, founder of hedge fund Bridgewater Associates, that states; “Today is the first day of war with China”. The tweet from the founder of the world’s largest hedge fund, which manages some $160 billion, comes after the U.S. slapped levies on some of China’s exports to the U.S., and President Donald Trump threatened further action.

Is he suggesting that there is something more than just a Trade War brewing between the U.S and China? Is he warmongering, is he suggesting that Donald Trump is warmongering, or is he just alluding to what the unintended consequence of a trade war could be, as we have seen throughout history?

Is this part of Trump’s goal to Make America Great Again? We look at the serious unintended consequences of these actions. We look at the backdrop to these trade wars and how Globalization can be a double edged sword.

How will the economies of the world react; China, EU, Canada?

The trade war is on and the gloves are off!

Listen to the full episode or skip directly to one of the following discussion points:

2:52: Why a trade war, why now?

4:22: The effects of a mass migration of Chinese from agriculture to trade and industry.

4:27 What effect does globalization have on the work-force

5:04: How China leverage their cheap labour force as a international competitive advantage.

5:22: Imported Chinese Goods are cheaper than the goods that are being domestically produced in America, how is this effecting peoples’ jobs in America.

5:40: Are Chinese workers are now competing with the Vietnamese workers?

6:04: How Trump’s intention to safeguard American manufacturers and workers may cause the American consumers to pay more for domestically produced goods instead of buying cheaper imported goods

8:06 The U.S. has a Deficit with a 140 countries around the world, why this can’t be fixed with a trade war.

8:30: Why history suggests that trade war initiates currency wars which eventually result in to actual wars.

15:10: What is the response of China?

15:11 How Trump’s action to protect the domestic industries and workers is not just targeting China but also involving Europe and Canada as well

16:14: Why Trump’s supporter continue to back his actions and decisions

17:36 How the European Union is responding

17:50 Harley Davidson and the unintended consequence playing out.

18:00 How Trump’s actions to protect domestic jobs is resulting on the contrary

18:41 How Trade War will add an extra premium to the cost of doing business all over the world

19:05 Why China is putting more and more money in Infrastructure & Power Systems so they can easily get their goods to the market

20:52 Behind the scenes of trade war, is a currency war actually going on?

21:52 Why are the Chinese continuing to quietly invest in Gold

22:22 The Chinese Govt. Are planning for the long term economy unlike the U. S. Govt.

23:26: How personal prosperity of Americans is diminishing while corporations continue to do better

23:44: Trump’s actions to protect jobs is reflected in his suggested policies

23:56 On the contrary Chinese Govt. Are under the similar kind of pressure but acting promptly

24:34 Why globalization is not delivering the security of individuals and their families

24:41: Historically trade wars were the portent of an actual war

27:00 Why the media’s mocking actions are encouraging the trade war

29:10 How Europe’s massive global economy has an important role to play in this trade war

29:38: What action might the investors and savers take in this situation?

32:08 Trump’s actions until now only focuses on a short term projection of the U.S. Economy

32:47: Why investors need to diversify their investment

33:07: Why diversification needs to be geographical and not just asset based

33:54 How gold can be used to protect a portfolio in a trade war

35:17 Ray Dalio’s Tweet doesn’t’ necessarily signifies the first day of war with China but there’s definitely a trade war going on between U.S. & China, but the gloves are off!

People mentioned in this episode:

Ray Dalio: https://twitter.com/RayDalio

Harald Malmgren: https://twitter.com/Halsrethink

Pippa Malmgren: https://twitter.com/DrPippaM

Gerald Celente: https://twitter.com/geraldcelente

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