Bob Moriarty: This Year’s Tax Loss Selling Season Is Going To Be A License To Steal

Never one to pull punches or to shy away from articulating his opinions, 321gold founder Bob Moriarty has had an active month of September. His outspokenness on the covid vaccines and the government mandated jabs has led to several of Bob’s interviews being removed from YouTube. If there was any doubt that freedom of speech is under attack, big tech’s widespread censorship of so many voices in the last year should remove any doubt. In this month’s conversation with Mr. Moriarty we discuss covid, the vaccines, free donuts, market crashes, and why this year’s tax loss selling season in junior mining is going to a be a license to steal…

Goldfinger:

It’s great to speak with you again Bob, in the last couple weeks you put out two excellent blog posts, one on COVID and also talking about some of your experiences in Vietnam. This blog post included a very interesting and exciting story from when there was a helicopter shot down during a covert ops mission and the CIA decided not to save the marine who survived. The story of how your buddy saved his marine in the jungle was captivating. That was a very interesting article, and also talking about how the Pentagon is mandating the vaccine, and all of these employers are mandating the vaccine. It seems that the covid vaccines are the #1 most controversial topic of our time, people seem to spend a lot of their time arguing their position on this topic. And then you wrote a blog post making the case for a repeat of the 1929 crash, citing 80%+ downside for the US stock market. So, there’s a lot to unpack there. It seems that September 15th has come and gone…

Bob Moriarty:

Well, it’s hard to tell because they’re not being totally candid. The first article suggested that General Austin was demanding everybody be vaccinated by September 15th, but I have seen things since then that suggest that he’s extended it to November. But this is a really important issue. Now, let me give you the math.I posted a link to an interview by a Navy doctor and her research shows that 20 US servicemen have died of COVID in the last 18 months, which means it virtually is no threat whatsoever, so there’s no reason for them to take the jab. Based on the number of negative reactions from service members who have already taken the so-called vaccine, the death rate is going to be 50 to 60 times higher from the jab. Now, here’s my issue with this, and you said that you had read two articles. I actually have written three articles and I’ve written another article, I think it was posted today. And, I make the point that in all of recorded medical history there has never been a case where not taking treatment was blamed for the treatment failing. Now this is so simple. Everybody needs to understand it. The goddamn vaccine doesn’t work. It not only doesn’t work, it increases your chances of having a severe reaction to it far more than not having it at all.

And it’s very funny that the government and the mainstream media wants to blame the people who are unvaccinated. How could the people who are unvaccinated change the behavior of the vaccine, and the answer is they couldn’t possibly. Now, I’m going to offer you an interesting suggestion. Do you remember when Rolling Stone wrote the fake news piece about ivermectin?

Goldfinger: 

I didn’t read the Rolling Stone article.

Bob Moriarty:

Rolling Stone wrote an article saying that a hospital in Oklahoma was turning away gunshot patients because so many people had overdosed on ivermectin. Many other MSM picked up the story and posted is as well, quoting Rolling Stone. The only problem was that no one ever bothered checking with the hospital. Someone did and the hospital said the story was total bullshit. They had never turned away a gunshot victim and had no ivermectin overdoses.

I think that we have a lot of media being posted now that is actually written by artifical intelligence because a few days after the Rolling Stones story was totally debunked, another story claimed that a heart attack victim had been turned away from 43 hospitals because the ICUs were filled with non”vaccinated” patients. That exactly the same story but using a different theory to forward the government’s narrative. And of course, how do you contact 43 hospitals to see if they have been turning away heart attack victims.

I’ve said it before, I’ll say it again. Everything we are hearing from the media is a damned lie.

The flu will change constantly and you cannot have one vaccine for it. And certainly, that’s what they’re finding in Israel. Everybody’s had two jabs and then they had a third booster and now they want a fourth booster. If the first jab didn’t work and the second jab didn’t work and the first booster doesn’t work and the seond booster doesn’t work, how far do you have to go to realize there never will be a successful “vaccine”? Now I hate to point this out, but if this is something that’s supposed to cure COVID or prevent COVID, it doesn’t work. Now, you were talking about people who died in the hospital. And I’m going to tell you they did not die in hospital, they were murdered.

Goldfinger:

How were they murdered?

Bob Moriarty:

Are you familiar with a drug called remdesivir?

Goldfinger:

Yes.

Bob Moriarty:

Okay. Do you know who owns part of the patent on it?

Goldfinger:

Gilead

Bob Moriarty:

Fauci.

Goldfinger: 

Well, I mean, it’s marketed by Gilead, right?

Bob Moriarty: 

I understand that, but the patent’s partially owned by Fauci, okay? And Fauci has recommended it as being the only acceptable treatment for COVID. Now, do you have any idea what the World Health Organization has said about the drug?

Goldfinger: 

Well, it doesn’t work for COVID.

Bob Moriarty: 

That’s absolutely correct. It not only doesn’t work, it was in a drug trial with three other drugs and they had to stop the trial on that particular drug because it killed too many people through kidney failure, okay? So you’ve got a drug that doesn’t work, and even the WHO admits that. And two, it kills the people that it’s supposed to be curing, okay? Because the guy who’s recommending it has a financial interest in it. When I say we’re being lied to, I’m telling you we’re being lied to. Now, let me go you one better, okay? In 2005, a very famous doctor was talking about the drug HCQ and he said it had remarkable ability to cure antiviral infection. You got any idea who that was?

Goldfinger: 

Fauci?

Bob Moriarty: 

Tony Fauci, the same guy who refuses to let people use it today. Now, they have used ivermectin in Australia. They’ve used it in Japan. They’ve used it in India. And it works. They’ve used it in Mexico. Somebody came to visit me and he brought me three packs of pills. Actually, one amazing thing is that it was… to get four pills, which is enough for two doses for an 80-kilo person, it’s 120 Mexican pesos or US$6. We can cure COVID for three bucks and Fauci won’t let us.

Goldfinger: 

In Florida, the governor is promoting the Regeneron monoclonal antibody treatment (paid for by the federal government), which works pretty well in most cases. Trump was one of the first people to receive the Regeneron monoclonal antibodies and it quite likely saved his life. Joe Rogan also received the Regeneron treatment, along with ivermectin and NAD+ etc. and he recovered in four days. At this point, It’s clear that we have the therapeutics that work and the mortality rate is less than .1% at this point.

Bob Moriarty:

You are 100% correct. Let me point something out. And you sound as if you’re familiar enough with the experience in Israel. What Israel found was natural immunity to COVID, if you’ve had COVID… and it is a bad flu. Let’s shoot straight. It’s a bad flu. You don’t want to catch it. If you caught it, your natural immunity is 13 times stronger than taking the jab. Now here’s the problem and again, I’m very angry about this, is that if you take the jab you lose your natural immunity and that’s totally insane. And what you’re saying is that treating people with antibodies from people who have had COVID will force them to develop antibodies and that’s absolutely categorically true.

And we’re not doing that, or we’re doing it on such a small basis. And to force people into taking a vaccine, I mean, I’m going to tell you that it’s an absolute crime. It’s against the Nuremberg principle. It’s against the Hippocratic Oath, okay? It is absolutely dead wrong. You own your body. You want to take the fucking vaccine, you go ahead and take it. That’s 100% your choice. But to lose your job because somebody has forced you into taking a vaccine that has killed tens of thousands of people and injured millions of people with a lot of permanent damage, I mean, that’s criminal. It is criminal.

Goldfinger:

I think that if it’s your body, it’s your choice. And I think if we cross that line, then we’ve really gone off the deep end and we’ve gone too far. And mandating injections is not okay, especially when there is significant evidence that a significant portion of the population is at more risk from the vaccine than they are from covid. I am not anti-vaccine or pro-vaccine, I am in favor of freedom and individual rights. How about promoting health, exercise, and better nutrition choices? One of the most ironic things i’ve seen is a donut shop that was giving away free donuts to people that got vaccinated. The visual of obese people getting free donuts after getting vaccinated is dripping with irony.

So moving on, I think we can agree on that. Your other article was about Dow 1929. I must say, it’s not the first time that you recited the crash of 1929 as being something that could happen again. You seem a little more confident about this forecast. So what has made you so bearish on the stock market here?

Bob Moriarty:

I am extremely concerned with sentiment, you know that. And I’ve made some very accurate calls in the past using nothing but sentiment. We have seen an explosion of different measures saying the market is far more insane than it was in 1929 or 1968 or 2000. There is going to be a correction. I will guarantee there is going to be a correction. However, I have crawled right out on a limb and I took a chainsaw with me and I’m cutting the limb off behind me. And I am going to either look like I am absolutely brilliant or the dumbest guy in finance.

But I see things in motion right now, that suggest to me we’re going to have a major crash starting in the next six weeks. I had said months ago that we were going to top anywhere from mid-August into September and that has proven to be true. I don’t think we’re going to beat those tops. I think the market’s going to move sideways to down into late October and then I see something really bad happening. It could be that bozo in China who owes $300 billion to the bank that he can’t pay.

Goldfinger: 

So normally, what causes a market crash is you’ve had a bubble formed and the bubble slowly gets pricked through a multi-month topping process, and then it violently bursts. It’s a topping process and then finally a catalyst comes and there’s a plunge from an already weak market backdrop. It seems like we’re starting to have the early makings of an environment like that, but maybe not quite there yet. And also sentiment shifts so quickly in 2021. This is not like the ’90s or even the 2000s, where sentiment took weeks or months to really shape or to turn. We see sentiment shift in days or a week even. We go from people being very bullish and saying to buy everything, to people suddenly being very bearish and buying put options to hedge their downside. It seems like people are getting more pessimistic, by the day or by the hour, but you don’t think the crash is going to come actually for another six weeks. 

Bob Moriarty: 

It’s going to happen in the next six weeks. My ideal scenario would be sometime after the middle of October.

It’s not just the stock market that is doing an instant repeat of the events of 2008. Gold and silver are doing the same. They peaked in March of 2008 and declined into September. The DSI for both hit a low in early September of 2008. Same thing this year. While the DSI for both recovered in 2008 the metals pretty much went sideways for four months. In 1929 while Homestake was the leading stock in the DOW for most of the depression, it took six months to gain tractionl

In March of 2020 the market crashed as both Bob Hoye and I had been predicting for months. Bob Hoye went so far as to predict that the silver-gold ratio could go to 110 to 1. And actually it went to like 132 to 1. Silver went below $12 an ounce, and everybody’s whining about, “I went to my dealer and he won’t sell me silver at 12 bucks. He wants $18 an ounce.” And that was really stupid. Okay. Of course a dealer is not going to buy silver at $18 one week and sell it for $12 the next no matter what the spot price is.

But you could buy SLV and I was buying SLV below 12 bucks an ounce. And I said, this is a gimme. I mean, how could you lose on this? And of course it goes from 12 bucks to 30 bucks in 6 months. Having a major crash, it was not a problem. It’s an opportunity. You just have to be ready for it.

Anybody who’s read my books understands I am not a worshiper of gold. You know, I don’t think it’s a religion. I think that’s stupid. I’m not a permabull. I do believe we need to go back to honest money, but absolutely there’s a time you want to buy gold and there’s a time you want to sell it. And I think the opportunity to pick up some extraordinary bargains is going to come in the next six weeks. Now, whether it crashes or not, I don’t give a shit.

Goldfinger: 

You have often talked about hyperinflation in the past. If there was a market crash, how will there be hyperinflation? A crash is by definition deflationary, right? Wealth is destroyed and people have less money to be able to chase the price of goods higher. 

Bob Moriarty: 

Yeah. But look at Bitcoin $65,000,, that is hyperinflation. What we’re going to have is, we’re going to have a shift from paper assets into real assets. And I think the wholesale price index was up something like 9.8% last month. In Germany in 1922 and 1923, you had hyperinflation and the stock market went up. But in real terms, it didn’t go up. It actually went down in nominal terms and that absolutely could happen again. We’re going to have a shift from paper worthless assets into real assets. And we’re going to go back to some kind of sanity in business. We don’t have that today.

Goldfinger: 

One of the key events of the last month or so was the US pulling out of Afghanistan. And it’s amazing how the media has really stopped telling that story. And the 13 members of the armed forces who were killed by the suicide bomber. I don’t hear anything about them anymore. What does the last two decades in the forays into Afghanistan and Iraq mean for the health of the US as a country and as the world superpower? And what does it mean for the dollar?

Bob Moriarty:

Well, strangle enough, the last question you ask is the most important. Every country that has a reserve currency gets to keep it as a reserve currency for about 80 to 85 years and we’ve had it. Okay. Quite bluntly. Afghanistan was a perfect measure of how fucked up the US is today. I mean the generals screwed up. The secretary of defense screwed up. The secretary of state screwed up. We left Americans over there. There were pallets of $100 bills that they left. Okay. Now you don’t understand the real tragedy of the 13 service men that were killed. How many civilians were killed?

Goldfinger:

A hell of a lot more.

Bob Moriarty:

170 and guess who killed them

Goldfinger:

The Suicide bomber.

Bob Moriarty:

We did. The Marines thought they were under attack and the Marines shot up the crowd. It was not the suicide bomber that killed 170 people. 13 Marines were killed by the suicide bomber and I’m going to presume that some number similar to that was true of the people around there, but the vast majority of the people were shot by the Marines who thought they were under attack. They, you understand, I was in Vietnam for two years. I’m not exactly a neophyte when it comes to warfare, the whole Afghan situation we shouldn’t ever have gone there in the first place.

They call it the graveyard of empires for a really very valid reason. We had no business there. They weren’t the enemy of the United States. They are not the enemy of the United States. It’s their goddamn country, let them decide to have to run it. But what we’ve done is we’ve squandered $2.3 trillion dollars and the lives of several thousand Americans and another 10,000 or so contractors fighting a war that you couldn’t possibly win in the first place. And the only thing we did is guarantee that the CIA had access to a lot of heroin.

Goldfinger:

When you think about the amount of money that was spent, the amount of equipment that was manufactured and then transported over there and then left over there. And when you think about all the propaganda that we’ve been subjected to for the last 20 years about Afghanistan and Iraq, it’s quite remarkable and unsettling, how much the common American citizen is lied to and brainwashed by the media and the government.

I want to touch upon junior mining before we wrap up, I think it is an important topic now. And we, I think we do agree that the dollar is on the decline long-term and you want to move into hard assets. You want to own land. You want to own what hurts when you drop it on your foot, like copper nickel, gold, silver. We can agree that hard assets and natural resources are in a long term secular bull market, however, timing the market in the highly volatile junior mining sector is a much trickier proposition.

If we think about junior mining and these companies have all these projects, there’s over a thousand companies on the venture, it’s very hard to sift through for the average person who’s relatively new to the sector. Even somebody who’s an experienced stock market investor, doesn’t know the first thing about junior mining. What is the most important aspect of a junior mining company? Is it the project? Is it the CEO? Is it the share structure? Can you simplify the process of finding a good investment in the sector?

Bob Moriarty:

Yes. And the answer is none of these.

Goldfinger:

So what is the criteria that a new investor should look for in the junior mining sector?

Bob Moriarty:

Well, first of all, they should go spend five or 10 bucks or whatever it costs and buy my investment books because it’s the cheapest training they’re ever going to have and the best information, but here’s the deal. If you’re going to make money, you need to buy at bottoms, and sell at tops. So it’s actually where you are in the cycle that’s far more important than the project, than the metal, than the management, country, anything else. Where are you in the cycle? Now, we obviously have been in a correction since August 2020, and I talked about the correction way back then. In bull markets everything goes up. In bear markets everything goes down. For pretty much the last year we have been in a bear market and it has gotten fugly lately.

And it’s continued, there was a slight blip higher at the first of the year, but you’ve got stories like Newfound gold (TSX-V:NFG, OTC:NFGFF) that’s been cut in half, Eloro Resources (TSX-V:ELO, OTC: ELRRF), Novo Resources (TSX:NVO, OTC:NSRPF), Labrador gold (TSX-V:LAB, OTC:NKOSF). You got some of the greatest companies in history that are on the sales block and everybody’s saying “Oh my God, my stocks have gone down.” 

NFG.V (Daily)

It’s an opportunity to pick up extraordinary stocks at very low risk. If you want to make money in this market you have to ignore the mob and you have to buy when things are cheap and sell when things are dear. Now I own Labrador Gold. I own Newfound gold. I own Novo. And when they were high, I sold off a bunch of shares.

There is no crystal clear measure of sentiment now that says this means the market’s going to crash. If you go back to March 2000 with the NASDAQ, the NASDAQ went up 19 days in a row. And if you work it out mathematically, that’s two to the 19th power. Okay. On any given day, the market can go up or it can go down, so for it to go up 19 days in a row, that’s two the 19th power. While it’s a big goddamn number, I can’t even work it out mathematically. It’s so high, I’d have to put it into a spreadsheet. We have not seen that. And you were absolutely correct. I mean, we’ll see a very high number for the Dow and the S&P and the NASDAQ, and then a week later, it’s back to neutral numbers. We haven’t seen any extreme in the VIX. I think the lowest it’s been lately, it’s 12. Gold got down to eight, but that’s certainly not an extreme of emotion.

But what I’m seeing, and I’m trying to step back a little bit, I’m seeing all of the pieces are in place for some kind of gigantic shock. And I don’t know what the shock is going to be. I’m not even going to worry about it. And again, okay, and I want you to remind me of this conversation in six months, I’m going to either look real stupid or real smart, and I’m not sure which one’s true.

Goldfinger:

In 2008,  we had a market topping process that carried out over more than a year, it started in 2007 with the subprime mortgage bubble beginning to unravel and lenders like Countrywide and New Century saw their stock prices plummet.. In September 2008, when Lehman finally failed, gold initially rallied for a day or two, and then it crashed along with everything else. And the juniors got obliterated in September/October 2008. If this plays out like you think it might, what do you think about the juniors?

TSX-Venture Composite (August 2008 – December 2008)

Bob Moriarty:

What I do know is that this year’s tax loss season is going to be a license to steal.


Now, let’s go to gems that people don’t see. There’s a company called Eskay Mining (TSX-V:ESK, OTC:ESKYF) near Eskay Creek. They’re coming up with extraordinary results. Now they’re getting totally screwed because of the delays in assays. However, they’ve got something that’s probably three or four or five times bigger than the original Eskay Creek. I think people are going to be absolutely shocked at how good a deal it is. Now, I spent about an hour on the phone with Quinton yesterday talking about Eskay. He was upset because the price I think is half of what it was a couple months ago, and I said, “Look, that’s a great opportunity and I’m glad that it’s gone down so much because it gives people a chance to get in cheap.”

But you’ve got Eskay Mining up in the Golden Triangle. You’ve got Eloro in Bolivia, who have 3,000 assays waiting to be completed, but everything they’re coming up with indicates they’re going to have one of the biggest silver, lead, zinc, tin mines in the world. You’ve got Lion One (TSX-V:LIO, OTC:LOMLF) in Fiji. Wally sent over two guys to actually supervise the Fijians. They were trying to run the operation out of Perth, and you just can’t do that. He spent a lot of money getting two guys over there a month ago, and they’re just starting to come out with results. That stock’s so cheap, I just can’t believe it. I was in a placement I think at $2.05 about six months ago, and the stock was a buck a share a week ago. So there’s a lot of really great opportunity right now. And if you were buying at $2.05 you’re probably upset, but all of these things are going to go back. New Found Gold is going to be a lot more than a $2 billion company. So is Eskay. So is Lion One. So is Eloro.

There’s another one called Goliath Resources (TSX-V:GOT, OTC: GOTRF). They just came out with a news release today, and I think the guy made a mistake. He keeps talking about the length of intercept of sulfide mineralization. What he’s doing, he’s appealing to the weak hands. Actually when you do that and they actually come out with the drill result assay, people tend to sell off the stock. Stock’s down 25% in the last week, and it’s simply insane. They’ve got the goods.

GOT.V (Daily)

Goldfinger:

All right. I think that’s a good place to wrap it up. They’ve got the goods. Hopefully all the money that was raised earlier in the year that’s been spent on exploration will yield some new discoveries, some positive news flow, get the juices flowing again in the sector. But like we discussed, the tax loss selling season in a couple months, two to three months, could prove to be a license to steal. So while there’s a lot of bargains out there today, it’s probably prudent to keep some dry powder on the table and put out those stink bids in your favorite stocks. Thanks a lot for your time, Bob. I appreciate all the insights. We’ll talk again in a month or so.

Bob Moriarty: 

Before we go I want to acknowledge you for all the content you generate and the information you give away for free. You have helped to educate many newer investors over the years and you offer insights I don’t read anywhere else, people can read it for free and they can learn information about something they didn’t know about before. That’s a hell of a deal, and you should be complimented on that.

Goldfinger: 

Thank you Bob, that means a lot especially coming from you. I learn something from you every time we chat. Thanks again. 


Disclaimer

The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. The companies mentioned in this article are high-risk venture stocks and not suitable for most investors. Consult company’s SEDAR profiles for important risk disclosures.

EnergyandGold.com, EnergyandGold Publishing LTD, its writers and principals are not registered investment advisors and advice you to do your own due diligence with a licensed investment advisor prior to making any investment decisions.

This article contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, standard transaction risks; impact of the transaction on the parties; and risks relating to financings; regulatory approvals; foreign country operations and volatile share prices. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the EnergyandGold website do not necessarily reflect the views of Energy and Gold Publishing LTD, publisher of EnergyandGold.com. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.