Unprecedented Crisis: Domino Effect Of Defaults On Horizon | Nomi Prins

Dr. Nomi Prins, best-selling author and geo-economist, discusses the permanent distortions on the economy created by central bank policies, and the dangers facing the economy in 2024 and beyond.
*This video was recorded on May 8, 2024
Nomi's last interview with me in August, 2023: • Rate Hikes Are Over, B...
Listen on Spotify: open.spotify.com/show/510WZMF...
Listen on Apple Podcasts: podcasters.spotify.com/pod/sh...
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"Permanent Distortion: How the Financial Markets Abandoned the Real Economy Forever": rb.gy/3o0rw
"Collusion: How Central Bankers Rigged the World": rb.gy/9lj0n
"All The Presidents’ Bankers: The Hidden Alliances That Drive American Power": rb.gy/rdpnr
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*This video is not financial advice. The channel is not responsible for the performance of sponsors and affiliates.
0:00 - Intro
1:00 - Economic slowdown
6:13 - Collusion
9:56 - Shifting of super powers
12:50 - U.S. dollar hegemony
15:00 - Fed rate cuts
20:43 - Inflation
22:43 - Domino effect of failures
24:20 - Labor market
25:24 - Geopolitical risks
29:00 - Investment implications
#investing #banking #economy

[@mikhailmamontov2155]

Why are we still voting for politicians who do not want to stop government's borrowing?

[@bpb5541]

TINA

[@julienbengkee5422]

Cos you have no other choice by design!

[@ellengran6814]

Because the people are just as corrupt as the politicians. It's the money, stupid. Einstein said democracy was a bad idea....maybe he was right.

[@centurione6489]

Stupidity! Look at the ballooning stupidity of society overall.

[@davisutton1]

Most people prefer today's problems to arrive tomorrow, even if they are much, much worse.

[@yttrium3538]

David is the best interviewer by far.

[@barbmol5664]

I like how she explains the economic situation so comprehensively, very simply & down to earth.

[@mth469]

Based on David's hair, the market's outlook is light and breezy

[@noIMspartacus2]

Sounds hair brained...

[@dangerousdonnafit]

😂

[@Discovery2024-rn8kn]

And greasy

[@esioanniannaho5939]

Yep he even managed to find a shaver or razor blade !

[@bluebxico3552]

🤣😎

[@ncprealty3844]

Could you imagine if the US utilized the 200 billion for our domestic infrastructure rather than war efforts?

[@casamurphy]

Can you imagine what a positive event for the Russian people and the rest of the world will be the collapse of Putinism?

[@jackwang6016]

Please ask Mr. Putin and Mr. Xi the same questions.

[@user-ci2mn1oy3w]

our entire military wit the exception of spec ops, submarines and Natl guard are a complete waste. So is 90% of space and spy stuff. Waste of 2 trillion $.

[@jglee6721]

The misnomer of the spending bills is criminal.

[@jpbsv]

Could you imagine if the US wasn't constantly starting wars for Israel's benefit?

[@thane816]

Fellow audience members: you know you'll learn a lot when Dr. Prins is on!

[@graceamsterdam5404]

Thank you 🙏🏼 I much appreciated how clear and straight forward she explained her views.

[@itshimhim2837]

There IS NO growth in the economy /GDP…. Our GDP is govt overspending. Thanx voter

[@emperorpenguin4663]

Bring it on. I want to see it at least once in my life time.

[@vlrdmtr]

Bring on what?

[@notgunnadoit7461]

probably a financial collapse like 80% correction in equities to the downside, a housing market correction down 40 to 60%, Gold doing an 8x, Silver getting back to a normal G/S ratio - hitting $200 to $300 per ounce price and a stag-flation Depression and all this being global. So I see it happening maybe not so fast like a month or a year but over a 5 to 10 year period of a bear market with higher inflation and lower wages. I see gold between $8k to $10k, silver at $300 to $500 an ounce, housing down 40% and equities going down 80% over 5 years and just going sideways for 10 years. I also see global conflict "wars" increasing, global shipping being completely disrupted and major unemployment with job loses ever increasing from today to 5,7, or 9 years with maybe a 13/17% rate and the BRICS being released and adopted with the dollar going down and no longer being the World Reserve Currency. Also gold backing the BRICS IN SOME WEIRD WAY.

[@jordyhumby]

Very bearish....but alot of this has already happened in 08....

[@filippaoronto3880]

Bring it on Babe , yeeee-haaw !

[@yu-jd5jg]

The US government is chalking up a deficit of US$1T every 100 days, how long can this go on till it breaks?

[@kevintewey1157]

Do you really think you're going to stop them until it does ? you can't reform capitalism after Monopoly stage. Ride it out or revolution

[@flixseal]

Until October. Then it breaks.

[@chebaz101]

​@@flixsealwhy October?

[@yu-jd5jg]

@@flixseal Correct, the expanding BRICS+ meeting in Russia in October will be very critical for the status of the US$ in the world

[@dalehodges5362]

No way these monsters have ever considered paying their bills. 40 Acres and a mule repeated.

[@onceANexile]

THE AMERICAN PEONs HAVE NO IDEA WHAT USA HAS IN-STORE FOR THEM.period

[@michaeloconnor6683]

I think you should have said PENSIONS, not PEONs

[@DaveEPie]

They have no clue-

[@onceANexile]

@@michaeloconnor6683 - sorry to have insulted you intelligence...

[@onceANexile]

@@DaveEPie - they don't. That's why I keep saying watch the videos on 1929, and the dust bowl- there was no government, just as we have today.period.

[@user-lp4qq6xl4k]

I'm a peon! But I also have 13,000 grams of silver and 8ozt of 24k gold I have collected on >20,000 a year whilst living homeless in a van. Smart peon!😊

[@Larry.Roberton]

This is the same news I was listening to in 1972.

[@user-hm5zb1qn6g]

And the dollar you earned in 1972 has about 2c of purchasing power. So maybe it's instructive.

[@lesleyjohnson8488]

I understand - the bull market of 72 followed by the crash. Lots of similarities here

[@abieshakhanumkannapiran8243]

Thanks, Dave. Awesome, guess awesome interview. I love your hair, bro.

[@esioanniannaho5939]

Yep he even managed to find a shaver or razor blade !

[@Mr_Hundredaire]

Love every time Nomi is interviewed

[@ArkOmen1]

You don't find too many female analysts that are bearish. I like this, it's great to see

[@filippxx]

There is nobody bullish on this channel, so where could you find one ? :) If invested by the predictions in this channel, one would have lost the entire bull market since November until now.

[@miking1111]

Really? Lynette Zang, Danielle Dimartino Booth, Lyn Alden, Nomi as well all bears. Hard to find one that isn't! :D

[@Notaslave1961]

Great Hair David!😅

[@levratalex4929]

Great content

[@RAC-ee4ti]

The U.S. government “deficit spending” is increasing exponentially with every passing year, which means further currency debasement beyond comprehension or a system default - neither will be good for the working class!

[@julienbengkee5422]

Of course!

[@florianewu1886]

We really need New playbooks for this new financial era.

[@wayne4768]

Interest rates are not high enough...period. Low interest rates got us where we are today

[@justinb222]

david . it’s tough out there , even for folks who are positioned a lil better . weather it’s 2 meals a day instead of 3 or no health insurance. we are all having to make sacrifices, next it’s sell my truck and get a motorcycle to cut down on car insurance , and a weekend job just to keep it above water . then it’s time to look at my apple iphone costs , maybe go flip phone

[@_Thoughtful_Aquarius_]

Another great interview on the David Lin Report!

[@petruflorintofoleanu5865]

NOMI PRINS ❤❤

[@youngj00]

Keep the content coming!

[@jmwSeattle]

She has phenomenal and impressive educational and work experience. Sort of like Daniele De Martino Boothe. I wonder how her latest book will do. I don’t know of any great calls she’s made but it’s been a long time since I’ve heard about her. Interesting to find her popping up on your channel. I think you should get her take when you can. She’s liable to have some important insight. Her asset allocations were right on.

[@destroya3303]

bot

[@sillystuff6247]

appreciate dr prins relaxed way of explaining things.

[@thebarryman]

Good guest, good interview

[@Rynorasaurus]

Brilliant interview!

[@edmitiu7383]

Wow, intense info dump. Thx folks

[@sdickinson5234]

The only inflation is monetary inflation. "Resource inflation" is not a thing. If people are paying more for resources than they will have less money to buy other things given a fixed money supply so other prices will fall.

[@lesleyjohnson8488]

Finally! 👍

[@rc2276]

Well done David, great interview.

[@chrismiami1332]

On point! 💪🏼

[@rhwinner]

_Please give me more free money_ is the cry of a slave, not a free man.

[@kevintewey1157]

😂😂 the plutocrats are laughing their way to the bank

[@TOMinPDX]

Slaves aren't given free money.

[@melomelony]

pretty sure a slave works for free.. and with how much everything worth having costs.. that's what youre doing.

[@prolific1518]

​@@TOMinPDX can't believe people like that are allowed to vote and influence society.

[@carlmorgan8452]

Ask what can I do for my country ...? Not ...?

[@cosmiccontrarian3949]

David is such a natural.

[@flixseal]

I agree.

[@davebellamy4867]

Great to see Celine Dion on the show.

[@25Soupy]

Love Nomi

[@stephenmkahler]

Great guest!

[@goldeneggduck]

That's like a Zimbabwean economic model! Who needs USD when you are mainly lending to and borrowing from your good self ?

[@kiyoshitakeda452]

The sequence is the west holds maneuvers on the border. The Eurasian state only then responds by announcing drills. Time line is important.

[@emphyrio]

Nope. Russia / Belarus did a major exercise earlier this year. Furthermoe, they ( Russia) activated russian speaking people in bordering countries to get some unrest. West is just responding ( if you like it or not that’s a different thing).

[@dalehodges5362]

Interesting dichotomy 10:47 here. US border is on fire and Eurasian economical borders are evaporating?

[@RadicallyFRUGAL]

People confuse natural supply demand changes in an item's price level with Monetary Inflation. On the surface it appears the same but it is not.

[@superstar5123]

Make sure to like, comment, subscribe, and hit the bell icon

[@CarlosX3C1973]

Great

[@chrisjoyce6321]

With respect, I find it difficult to agree that raising rates won't address inflation sooner or later. Sure, in global markets you take price and can have to import inflation over which you have no control. I suspect the relative short term impotence of interest rises in the US is due to the prevalence of fixed interest rate loans (housing but also elsewhere). So lag impacts reduce interest rate rise's short term ability to bring inflation to heal. But longer term, refinancing results in rises having an impact on demand, in turn inflation. Ultimately that demand reduction will also see less imported inflation as the quantum of imported goods (with elastic demand characteristics) decreases and those goods form a smaller proportion of the basket of goods from which inflation measurements are derived. Then again, I might have no clue. Great interview David either way. Cheers from Oz.

[@davebellamy4867]

Raising rates hurts the little people, as it's meant to do. Government and banks still get the cheapest money. Poorer people will buy cheaper crappier food and the indexes will be changed to hide this fall in the standard of living by using substitution to make CPI appear low by temoving more ecpensive items from the index as they become unaffordable until bugs and sawdust are the only items in the food component of the CPI. Schiff would argue that raising rates can raumise peices because companies' debt service costs increase and they pass it onto the consumer. Any case, you can't trust the CPI as an accurate measure.

[@toddhupp]

The guest is right.Consumers are buying with debt.But they will max out.Consumption will fall.

[@user-ch9pz1uq9v]

News flash. Rates are not high !

[@NoSe_Quien]

what is it with educated, seemingly smart, adults not being able to step back and realize that something is fundamentally broken with markets, and analyzing them from a technical perspective does not track, and has lost all predictive value? looking forward to that prudent rate cut in July. smh

[@davebellamy4867]

I would think the title and content of her book Permanent Distortions say the system is screwed up badly. Basically there is no price discovery in any market. Mannarino says it every werk so I don't need Nomi's books, plus she's ex-Goldman.

[@tombox2759]

Still plenty of liquidity Feds Reverse Repo = 486 billion, Treasury balance sheet = 851 billion, Total MM funds = 6.4 trillion. Also buy back window is open until June 14. Inflation coming down and BLM looks ok. S&P to 6500 by summer based on liquidity. Just watch the liquidity draw downs and the inverted 10 year to 3 month yield. Plus treasury can now buy back it's own distressed debt on the cheap as long as rates are at 5.3. Stay risk on until 6500 then the S&P drops like a stone 50% so you still have almost 40% upside. Also watch MM2. You have money on the table still...

[@dragonflydreamer7658]

Thanks mate, We all are a little worried about the debt being 3 trill and growing. But now I am happy we have 40 percent more money we can spend before we all blow up.. THREADS

[@tombox2759]

@@dragonflydreamer7658 Welcome. No charge.

[@glennmcgowan8120]

She knows her topic

[@jmaietta]

3:13: It all started "catching up to us" in 2021 when real world price increases started to accelerate to a much greater level than what we see reported in CPI. The consumer is weakening, bankruptcies have been up since 2022, Real GDP is softer than what's reported (GDP deflator is understated) and companies are reporting in-line earnings with weaker guidance. The economy is slowing, prices are up, we are in the soup.

[@ambition112]

0:00: ⚠ Economic risks escalating due to high consumer and national debt, unprecedented Fed losses, and potential asset class distortions. 3:38: ⚠ Impact of Federal Reserve's decision to reduce debt holdings on investors and economy. 7:24: 💰 Financial systems facing challenges due to changing rules and uncontrollable supply chains. 10:31: 💰 Global financial system facing challenges due to new monetary policies and digitalization. 14:02: 💰 US debt remains high despite consistent USTreasury purchases. Dollar's economic power weakens, but geopolitical influence remains strong. 17:43: ⚠ Potential economic slowdown leading to multiple rate cuts amid rising inflation concerns. 21:39: ⚠ Global economic growth reliant on imports faces risks from geopolitical events impacting commodity supply chains. 25:22: ⚠ Heightened geopolitical tensions between Russia and the West due to provocative statements and military drills. 28:56: ⚖ Diversifying investments in precious metals, industrial metals, battery storage, and uranium for energy needs. Recapped using Tammy AI

[@superstar5123]

Davi boy

[@ElGreco365]

Behind, she got "Bankers" two times. Up left and down right. Interesting.

[@1FrenchConnection1]

lol i notice the same thing. I was also wondering why???? May she receive the same gifts!

[@davebellamy4867]

I think that's her own book, along with Permanent Distortion. So she'll probably have a few spare copies to sign and hand around.

[@davebellamy4867]

There are 2 copies of Permanent Distortion too. Upper left and upper right, next to You Will Own Nothing.

[@davebellamy4867]

​@@1FrenchConnection1She's the auhor.

[@ampiciline]

she is very articulate ! well deserved PHD degree .

[@markmcguire7261]

YOUR NOT LISTENING DAVID. LOL😅 JUST KIDDING. AMAZING SHOW AS ALWAYS.

[@Fearzero]

You killed the grammar.

[@markmcguire7261]

@Fearzero oh sorry I didn't put you're I'm sorry I didn't hit my shift key. 😔 I didn't know people couldn't figure out comprehension without hitting my shift key.

[@Hueyck]

@@markmcguire7261no I think he meant it’s impressive because caps disables spell check. Good work!

[@leonw1710]

So rate cuts won’t fix things, nor holding rates or hiking rates. Either way, we’ll have to choose one and ride the lightening. Personally, I think rates aren’t currently high at all; more like historically normal. May as well just leave them be and let price discovery take its course.

[@richardlamos1436]

Good example chocolate ie cocoa supply constraints affecting inflation and not under banker control

[@superstar5123]

Buy metal people

[@chrisdaniel2759]

But they rust when I water them

[@kevintewey1157]

I prefer the natural type😂

[@bpb5541]

And food, and water

[@esioanniannaho5939]

Which band ?

[@orirosengarten2572]

Where is Gareth Soloway? Long time no see.

[@jaradshaw4723]

They will hike rates after election not lower

[@itsallminor6133]

They should

[@BrandyHeng007]

Collapse by end June 2024 ?

[@BarryKing-mc7vq]

😮

[@vengeancerecovery5535]

We in Asia Major, EurAsia (Slavic only) ASEAN & GlobalSouth just "VETO" metaphorically anythg from americans,5eye$,iapan, korea & europe this week including products, movie, artist, music and of course the DOOLAR...😠...only Privet, NiHao & Salam from Malaysia

[@itsallminor6133]

We in America don't care

[@prolific1518]

​@@itsallminor6133 you will as the US loses reserve currency status. Once that happens, US can't pass inflation on to the rest of the world. Then the country will collapse. It happens with every debt based superpower through history. Time to do your research.

[@vengeancerecovery5535]

​@@itsallminor6133interesting, but nice response 😀

[@deanmyers453]

You need 6 earths to supply what is needed NOW ! So big fights start !

[@timothyrday1390]

Does she have two of the same books on the top left and bottom right, lol?

[@sirlucius3016]

Dam now i keep staring at the books. It does look that way lol

[@lesleyjohnson8488]

Her books - she wrote them

[@BodhiTreeCIO]

Excellent guest, spot on.

[@sezllgi]

Citadel is next

[@SasiponPanavaravatn]

This year is definitely going to be worse. Last year, I made terrible investing selections that cost me a large sum of money that I would not have lost if I hadn't been so concerned about my portfolio. I couldn't determine whether to start paying for a house or continue investing. I eventually sold my stocks, and the house turned out to be more of a fixer-upper than I had expected. I don't know how much longer I can do this.

[@JacklynHerrera-wj7zm]

We all made mistakes, ride it out.

[@RichardGeorge-uj9iu]

It is crucial to have a varied exposure in your portfolio, including companies generating current cash flows. I had my portfolio revamped by a planner that I hired late 2022, and in the last ten months, I have made well over half a million across multiple markets. If 2023 has taught us anything, it’s that good times don’t always last. When things are looking up, we should direct more energy into planning for the worst-case scenario

[@SasiponPanavaravatn]

Who is this planner that you employ? I'm getting to the end of me. Really, I'd also like to take the path of having one

[@RichardGeorge-uj9iu]

Leah Foster Alderman. You are most likely to find more info when you look her up

[@SasiponPanavaravatn]

Thank You for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon

[@brianwashere7966]

"What the fed has done with its rate policies..." NO, what congress has done with spending. They dug this hole now FIX IT!

[@alextube2551]

Embrace the shift

[@suhasbhide5773]

👌💯👍

[@mickygarcia4251]

Deficits don't matter... to the borrower, but they definitely matter to the lender.

[@matbob7249]

And just like a year ago when I listened to her…. It’s still crashing!😂 So why I’m I doing better when ever?

[@taihanasie]

In China, growth is an input. It is not an economic output.

[@Taalev]

You can tell most of these comments don’t even watch the video before commenting. Gareth is generally bullish now… but he’s a trader so it’s all conditional

[@galarius]

Kind of like the domino effect of doom videos on youtube?

[@AsadAli-ee4tf]

😅Suggest Israel to help with the Grand deficit in some ways!??😁😁

[@flobba123]

so debt bad, Nuclear war bad, Yep i agree

[@leroyessel2010]

To compete with centralized and renewable energy the process called cavitation would facilitate Hydrogen Dollar on Internet Computer Protocol over collateralized by 2,000% zero pollution fuel safely stored in any type of water, waste plastic or low quality oil.

[@esioanniannaho5939]

David brilliant analysis and interesting interview straight to the point. Thank you Naomi. David this week BRICS+ are meeting 13-19 May 24. Any chance of analysis on what the current topics are and next meetings agenda ? Are any of the Sherpas giving any interviews ? Once again thank you both !

[@itsallminor6133]

She's pretty level headed

[@vijjreddy]

COME ON, US DIDN'T BREAK WHEN NORMAL INTEREST RATES ARE BETWEEN 7 AND 9%... US WILL REALIZE IT IS RESILIENT...

[@bpb5541]

Well we were not putting 1 trillion on the books every 100 days and deficits were not 35 trillion the last time we got between 7 and 9 percent. I think that is what you are missing.

[@_Ekaros]

It is not the rate. It is the amount you try to service at those rates... And the amounts are baffling...

[@Hueyck]

And “normal” debt to gdp is 25% like 1980. So I guess todays abnormal 5% rate matches todays abnormal 125% debt to gdp pretty well.

[@jazzyjet7719]

She's great

[@kizzik]

Thank you, David for another awesome interview with Dr. Nomi Prins. I can listen to her all day long. God, intelligent women are so sexy!

[@Clubrat]

While the rest of the world get weakening currencies and deflation. Something the central bankers still don't think is possible.

[@InnocentCardGame-sz2be]

Without a growing market, and loosening financial conditions, where's the growth? Fiscal spending from Biden administration comes in spurts and is fleeting.

[@healer81]

They can always kick the can down the road and bail out whoever the want

[@bennygutierrez6184]

Baby girl can talk!

[@mutantryeff]

Why so much Nomi lately?

[@davebellamy4867]

New book?

[@dragonflydreamer7658]

THREADS THREADS THREADS

[@paulflannery2834]

She makes more sense than anyone else i have listened to

[@brianroe7453]

This is a channel with very deceptive descriptions. Good discussions. So what’s the point of lying?

[@emphyrio]

Nomi PrinS

[@robertfoley-runyon7415]

How did they get her name wrong in the title?

[@godzuki2099]

Rates have to be higher in order to get out of the hole, otherwise it would be like Japan's dilemma, where their economy "isn't strong enough" to endure high rates but it just keeps getting weaker and weaker, lowering rates now will only prolong the pain

[@64MartinDiV]

Dollar value: What the Chinese/India/Russia and South america cannot track is the Power of the U.S. Dollar in the secondary or black market. Even during the Ukraine war young people were walking the destroyed streets and pointing out how the ruble was losing value against what? the U.S. Dollar minute by minute. If the ruble - as one- had more intrinsic value, they would not care, but they cared deeply. This is why if monetary policy changes in the U.S. it affects those countries more profoundly: U.S. inflation? its worse in those countries where the black or secondary market is supported by the U.S. dollar. Those countries cannot get away from the weakening of their currency that has happened by their own peoples choices as cash-in-hand over the past 60 years (post WWII). The only way it can be stopped or overhauled is through conflict or war and- U.S just dumped 95billion in Gaza? (flooding egypt/ and the 'Stans and most likely africa with U.S. dollars) and in the past 50billion to Ukraine? Russia will be hard pressed to overcome the devaluing power of the U.S. dollar with that injection. Its like finding canadian coins in your change in the U.S but imagine on a complete scale instead of a one-off. Argentina is trying on their own. and with the housing issues in China- where are they getting the money for their clamoring middle class? or will they choose a more communist approach? I would like to see it frankly and I am not being snarky, I just dont know what the communist approach would be.

[@PCGamer77]

TYPO in the Title: "Nomi Prins"

[@michael511128]

Wish Prins be my mother so that I don’t need to learn all these understandable stuffs.

[@issenvan1050]

How about M2? Rates rates rates, supply chains…a bunch of bs.

[@JohnsonAlima]

👍👍 Thanks for the update! Despite the economic recession, I no longer depend on Government Grants since I acquire $86,400 weekly profits.

[@JohnWick-ct1gz]

Great news! how did you get that?

[@JohnsonAlima]

It's all thanks to Robert Marion

[@Philip0128]

trading under proper guidance remains the best way to succeed in today's crypto market.

[@MichaelJackson12316]

I know Robert Marion. He platform maintains a unique perspective and is very transparent with their investors. Regardless of whether or not he outperforms. I will forever stay invested!

[@TaylorAnderson-jj6kx]

This sound so good and I would like to be a party to this, how can I contact your Asset-coach?

[@davefromkansas5600]

mortgages to 11.8%

[@thomaslgregoryjr]

Did you miss China’s new $140 bond initiative? This will push the dollar lower, making inflation worse. There will be no rate cuts this year Nomi.