Marc Faber on Argentina, International Stocks, and BRICS

Here's a quick preview before we upload it on the Paradigm YouTube Channel. [The Rude Awakening] December 13, 2023 [WEBSITE]( | [UNSUBSCRIBE]( [SEVEN PREDICTIONS SUMMIT]( Marc Faber on Argentina, International Stocks, and BRICS [Sean Ring] SEAN RING “Achievement Unlocked!” as the kids say. Yesterday evening, I did something I’ve wanted to do for nearly two decades. I finally got to speak with Marc Faber, investor-extraordinaire and the Founder and Publisher of the [Gloom, Boom, & Doom]( monthly newsletter. After watching Marc in hundreds of YouTube video interviews, I knew he’d be entertaining. But he was funny, insightful, and generous with his thoughts. I don’t want to give the game away today, but I’d like to share some of his insights before we publish the full interview on our Paradigm Press YouTube Channel this Friday. But before I do, I want to remind you about our Paradigm Press 7 Predictions Summit. [Click here to learn more]( Join Jim Rickards, James Altucher, Zach Scheidt, Alan Knuckman, Ray Blanco, Byron King, Greg Guenthner, and me for a gaze into the crystal ball of finance and investing. It’s happening at 3:00 pm ET on a private, secure Zoom call… So, set a reminder for yourself… And make sure you’re in your seat at 3 pm ET sharp… Because this event is NOT pre-recorded! This is happening LIVE, in real-time… And the only way to ensure you don’t miss a single prediction or exclusive recommendation… Is to be signed in the moment this summit begins. To get a sneak peek at everything we’ll be going over, please visit our dedicated 7 Predictions Summit website at the link below: [Click Here NOW to Visit the 7 Predictions Summit Website]( And if, for some reason, you still have NOT secured your seat yet… [Click here immediately to register via Zoom.]( Remember… This is your chance to hear unreleased updates and exclusive recommendations from some of the world’s leading financial experts… So you can get a MASSIVE head-start on the year ahead… And have the chance to win BIG in 2024. I’ll be there with my glass of vino and a funny T-shirt, so I hope to see you there, too! Now, let’s get to my conversation with Marc. [Offer Pending: Please confirm your address…]( Your name is on a list of people eligible to claim the [“most dangerous book in America.”]( We with only 500 copies left, we may run out of stock soon. So, here’s how to claim your copy: - [Click this link]( watch Jim's short message.]( - Review your account information. - Confirm you’d like to accept Jim’s offer. And I’ll get your copy of the most dangerous book in the mail right away. [Simply click here and learn how to claim your copy.]( [Click Here To Learn More]( The Beginning I had known Marc was a skier for his native Switzerland was he was a young man. But it was fascinating to hear him talk about it. As I do for all my fellow travelers, I asked Marc why he left God’s Own Country of Switzerland. (Marc left after completing his PhD in Economics; this year celebrates 50 years abroad, most of it in Asia.) His response was full of grit and ambition; it’s as if he de-aged as he answered. He remarked how lucky he was to grow up in such prosperous circumstances, but he wanted the chance to “make his own contacts and his own network” and not rely on the numerous introductions his family could provide. Respect. Milei, Argentina, and Latin America Regarding Milei, it more of a “let’s see” thing than an exciting endorsement. From this December’s edition of the [Gloom, Boom, and Doom]( report, Marc wrote: After calling the Chinese government an “assassin” during an August interview with Bloomberg News and saying he wouldn’t keep relations with Brazil or countries led by “communists” if elected, Milei sounded surprisingly cordial in comments made just a few days after his landslide Nov. 19 win. He sent well-wishes to the Chinese people in a social media post Wednesday, thanking President Xi Jinping for a letter in which he congratulated the Argentine leader for his victory and reminded him that relations between Beijing and Buenos Aires were always based on ‘mutual respect,’ with ‘tangible benefits’ for both sides. Also, on Wednesday [November 22] he told a local TV that Brazil’s Luiz Inacio Lula da Silva would ‘be welcome’ to attend his Dec. 10 inauguration. And he even patched differences with Pope Francis, an Argentine he once described as the devil’s man on earth. When receiving a call from the Vatican on Tuesday, Milei invited His Holiness to visit Argentina soon. The about-face is the latest sign yet that the foul-mouthed libertarian who swept to power with radical promises to fix Argentina’s problems may be adopting a more pragmatic approach, at least in foreign policy, as he prepares to take office. ‘It was inevitable, Argentina simply can’t afford to alienate its most important trading partners,’ said Benjamin Gedan, director of the Wilson Center’s Latin America Program. ‘It seems clear that Milei is following the advice of his more pragmatic advisers when it comes to foreign policy, including former President Mauricio Macri.’ The Argentine stock market is up 124% in USD since news of Milei’s victory hit the newswires. Mexico is up by 27%; Brazil, 23%. Marc also notes Chile is a huge bargain. In this part of the interview, Marc gives a brief glimpse into how he watches so many of the global markets so closely. It’s a master class in and of itself. Regarding Taxes Marc was much more of a pragmatist about taxes than I am. I just would prefer they be gone. But Marc mentioned his friends in Norway and other countries and how happy they are despite the high taxes. Why? Because they get substantial benefits like real social security. That is, they’re not going to starve in old age. He juxtaposed this position with the social welfare net in places like the US and Australia. What do you get in those countries for your high taxes? Nothing, not even intelligent politicians running the show! BRICS Marc said the BRICS are many countries united by dissatisfaction with the current system. But so much of the global population resides in the BRICS nations that they cannot be ignored. Wrap Up I don’t want to give too much away, as the interview is rich with Marc’s observations about the world and its current goings-on. Marc’s interview will premiere on Friday, December 15th, at 4 pm Eastern Time. I hope to see you there, and I’ll send the link beforehand. Get your paper and pen ready! There’s a lot he covers. All the best, [Sean Ring] Sean Ring Editor, Rude Awakening X (formerly Twitter): [@seaniechaos]( In Case You Missed It… America Laments Europe’s Military Weakness [Sean Ring] SEAN RING Whenever I thumb through The Wall Street Journal, usually out of boredom, I often find articles that are right for the wrong reason. After all, Europe is weaker than a women’s soccer team playing a decent boys high school team. American taxpayers are right to be angry about funding 70% of NATO. However, The Journal fails to mention that Europe is weak because of America. After all, if you’re going to keep the Americans in, the Russians out, and the Germans down, it’s going to cost you in money and manpower. It’s little wonder that the Germans have no military when one of your quiet goals is to keep them down. For thirty years, the USG has said to the Europeans, “Nah, we’ve got this,” to maintain demonic hegemonic possession of a vassal continent with no domestic champion. It was easy to maintain this possession, especially when a drunk like Yeltsin was running the Russian show… into the ground. It was easy to maintain this possession when Europeans were trying to talk themselves into becoming a superpower no one wanted (including the European populace). They only want freedom of movement (to holiday) and a common currency (again, to holiday). But the elephant in the room is Ukraine. Let’s face it; if Ukraine were beating Russia, no one would give a toss about what kind of military Europe has. Because it wouldn’t matter. But now, Moscow is viewed as a direct threat. That’s because Ukraine is getting its ass kicked. I do not mean to be flippant. It’s a fact. Ukrainian casualties outnumber Russian ones by seven to one. The Ukrainians are taking an extraordinary - and unnecessary - beating. And the West is running out of ammo, patience, and eagerness. Let’s see what’s going on. [TIME-SENSITIVE: A “Second Wave” Of Inflation Is Coming]( During the 1970s, inflation lasted for years and came in three separate waves. Each wave was far worse than the last. [Today, the same exact thing is happening again.]( Is the price of food, gasoline, housing and more about to skyrocket even higher? [== > Get ready for “Inflation’s Second Wave.” Click here now to see my urgent warning.]( [Click Here To Learn More]( Be Careful What You Wish For From The Journal: The British military—the leading U.S. military ally and Europe’s biggest defense spender—has only around 150 deployable tanks and perhaps a dozen serviceable long-range artillery pieces. So bare was the cupboard that last year the British military considered sourcing multiple rocket launchers from museums to upgrade and donate to Ukraine, an idea that was dropped. France, the next biggest spender, has fewer than 90 heavy artillery pieces, equivalent to what Russia loses roughly every month on the Ukraine battlefield. Denmark has no heavy artillery, submarines, or air-defense systems. Germany’s army has enough ammunition for two days of battle. This is plainly embarrassing. If Pooty-Poot wanted to invade, he probably could. But that’s the thing. Russia never had designs on continental Europe. Sure, it wanted to keep its sphere of influence intact. But it wasn’t going to roll through Europe anytime soon. The damn neocons saw to it that Europe was scared of a Russian invasion that wouldn’t - couldn’t, really - happen. But the drumroll of war had to go on, or how was the military-industrial complex going to get paid? Another huge issue was the cheap energy Russia was supplying Europe. America wanted a piece of that business, but shipped LNG is much more expensive than pipelined gas. Something had to happen. And that was the Nordstream pipeline explosion. American Recriminations Again, from The Journal: Much of Europe’s industrial capacity to make weapons has eroded over years of budget cuts, and turning that around is a challenge at a time when most governments face budget constraints amid slow economic growth and aging populations, as well as large political opposition to cutting back on welfare spending to fund defense. Europe has “systematically demilitarized itself because it didn’t need to spend the money,” thanks to the lack of an apparent threat and U.S. military dominance around the globe, said Anthony King, a professor of war studies at the University of Warwick. “They have basically gone to sleep.” The Ukraine war has made clear the depth of Europe’s problem. We’ve established that Europe’s weapons readiness is in a dire state. And yes, they could’ve done more to prepare themselves over the last thirty years. But again, why would they? They had the U.S. do everything for them. Instead, Europe built good infrastructure, fair to middling healthcare, and an uneven economy in the intervening years. But lately, Europe’s deindustrialization is happening because they approved of and upheld the sanctions the US applied to Russia. There’s no more cheap energy in Europe. The euro, more toilet paper than currency, invites capital flight to America. In short, Europe is getting a raw deal because of its vassalage status vis-a-vis America. How bad is it? Again, from The Journal: European nations have pledged billions in aid to Kyiv but have said they face economic constraints and production limits on weapons. If the U.S. pulls back from providing the bulk of aid, Europe doesn’t have the stockpiles to make up the difference, nor can it resupply Ukraine and rebuild its own forces at the same time. The head of NATO’s military committee, Dutch Adm. Rob Bauer, said this year that Europe could now “see the bottom of the barrel” in terms of what it could offer Ukraine. The European Union looks unlikely to keep a promise to supply a million desperately needed artillery shells to Kyiv by this spring, achieving only around a third of that so far. North Korea, an impoverished dictatorship with a population of 25 million, has shipped over a million shells to Russia in the same period, according to Western officials and Russian government statements. If communist North Korea is outproducing you, it’s really not good, is it? Wrap Up Homer Simpson once said of alcohol that it was “the cause of, and solution to, life’s problems.” I think America may feel the same way about Europe. Europe isn’t a single cohesive unit, much to the chagrin of most US politicians. It’s a diverse economy with goals relative to its internal self. It’s not here to be the “hegemon.” Europe doesn’t care. Soon, Europe may find itself between the US and Russia during peace talks. Have a great day. All the best, [Sean Ring] Sean Ring Editor, Rude Awakening Twitter: [@seaniechaos]( [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2023 Paradigm Press, LLC. 1001 Cathedral Street, Baltimore, MD 21201. 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