Andrew Krystal with you. This is Sirius XM
You're listening to Krystal Nation on Channel 167
My next guest is Jon Morgan. He's a private independent day trader from his home office in Yankton, South Dakota
He trades futures Forex and crypto currencies and he is Forex Lens'
Live trader and educator where he trades live Monday to Friday
with ForexLens.com subscribers
Morgan is one of Quora's most viewed writers and many of the trading categories a live trader and educator
I like your stuff on ForexLens.com Jon Morgan. Thank you for joining me from South Dakota
Brother we just got off the Horn
with the Washington Post Dave Clark who was the deputy White House editor there and we're talking about all of the
Convulsions in America, they're happening. Socially, they're happening politically. They're happening economically
the trade war that Trump is initiating with China with the tariffs are
seeing
Even more volatility in what was already a volatile?
Moneyed landscape. So how does this affect?
What you do? How does this affect what Americans should be doing or looking at when it comes to their wallet, sir?
Well, so a training perspective
I love all the volatility. That's that's something that we enjoy
You know, it's how do you are you?
It's just it's just part of it's part of what we do
The trade war issue is is there's two ways that you can look at how all this plays out as a trader you either
you either look at it from
That that price action is random or you or you'd be price action as something that's an asset pattern and that's what I do
so I I operate my trading on the belief that that humans are unable to change a
Predetermined trend in that that no matter what the news is it's that has no effect on the trend. It's just stuff
It's just news actually reacts to time as opposed
Creating create an incident. Sorry about that is just wondering if I
Should be beeped out there with some of my language
Sure, you know why they have a delay on the station because of my language not because it guests
John
How do you think these tariffs are gonna how is it all gonna pan out?
I mean, I don't know if there's bad. I don't know if there is an actual economic strategy
I mean the Chinese are actually saying we don't know what Trump wants because he's looking at
deficits trade deficits as a ledger sheet and they're not
Trading deficits. It's not a ledger sheet. It's not a zero-sum game
0:17 zero-sum games one person wins in one person loses. That's the definition of zero sum gain
People say about the market - yeah, well not true because you can have a trade deficit with a nation
But there could be a bunch of other arrangements which benefits your country and workers, right?
Yeah, so we've seen that with manufacturing
Internationalized
but one of the problems that Trump has
Correctly with free trade free trade was never supposed to be I can set up a factory in Mexico
To exploit the cheaper labour market and sell these products back to Americans. That wasn't the wait
That's not the that wasn't the spirit of free trade wasn't supposed to be a workaround to screw laborers in America. No
no, it was not no and and free trade is that's a that's a broad term, but
You know tariffs always hurt the nation that initiates the tariffs
The the country that has the trade deficit is the beneficiary of of that of that of the trade
I know that sounds weird and that's hard for people to wrap their heads around
It's like well if we have a trade deficit isn't that bad said? No, actually you're you're benefiting from the threat from that. So it's
You could spend a whole session going over tariffs and why they're bad
I mean, it's just it's economics 101 that tariffs are never good. They're always bad
now there's some argument for putting tariffs on things that are of
significant to national defense
some people would say steel is like that but those are those are kind of different but
For the most part tariffs are all bad. They're kind of pointless
NAFTA was working perfect
Well the perfect no could have been Regan
No, go she ate sand things. Sure
But there's no there's no reason just to cut the whole thing out like just cutting it off
So fast is just it's just silly. What are people
Your Confederates that some of the folks you speak to in the markets, maybe some of the writers
What are people that surround you John Morgan saying about where this is going with NAFTA?
Yeah
More than likely if things are going to go back to the status quo
Mexico on Canada our two largest trading partners. They're our neighbors
I have I see no reason why we would spend any time trying to dick over
The people that live right next door to us. I just it that boggles my mind. I I don't understand that
I don't remember the last time I heard somebody say something about candidates got
Trade problems with us in the US when we have a trade deficit with America America's you
Guys have a deficit with us. So if you're gonna operate on a trade deficit as a ledger sheet
Which is a wrong predicate that premise is not right
You know, but from Trump's orientation
You know were he's got a winner with us as I speak to you from Toronto using South Dakota. Okay, let's talk about
sectors that might benefit Americans
I don't know if you're listening to me now and where you're listening to me, whether it's Halifax or Las Vegas
but I
Don't know if you play the markets or not, but certainly some of your investments are
Where should Americans place their money or where some growth sectors? I'm les and let's talk about oil and gas right now
Well oil and gas are always going to be subject to a lot of a lot of manipulated supply
Situations oil is about I used to trade oil futures
Early early in my career and I don't touch it anymore. I don't have the skin choice. It's a it's a pretty volatile
commodity but as far as money goes I mean
There's a there's a there's price there's a crash cycle that that comes up and it starts later on and in
late
2019 to mid 2020 there is a
Panic phase that starts the beginning of a panic phase where the markets are going to have some type of major corrective or even crash
version not some of the alarm but this is just like the phase of markets they go through these things and
You know, where do you put money to keep it safe? That is always up for debate
Honestly crypto currencies there's been a lot of flight of capital in traditional risk
risk off assets like gold and a lot of money that is going into crypto currencies because they are well I
know from a security standpoint and
The safety standpoint gold on paper does you nothing in case there's some type of worldwide apocalypse?
You're not going to be able to do anything with the gold on paper
Even if you have gold physically you're just holding on to it for the next guy to come and take it from you
But crypto currencies you can take those anywhere with you. You don't actually have to carry manya
That's a much more
It's easier to transfer. It's it's easier to buy and sell it
You know crypto currencies are are becoming more and more of a source of value that's becoming more and more legitimize
If they're not going away anytime soon
Those are a strand new separate if you want to consider them an asset class
That's that's you could call it an asset class, but crypto currencies are going to be a very important
instrument for finding value and security
you see all those commercials on CNN like as I watched CNN Fox
I read the New York Times and Wall Street Journal etc. Financial Times
I see all these ads for gold buy gold buy silver. Is that is that BS it is
Yeah, typically when you hear as I remember back in you know, 2002 like Oh buy gold buy gold
they want to sell your goals at a high price, but that the thing is is right now gold is actually
creating at a bit of a discount
Gold's movement has actually been really funky because we've had the dollar
rise at times along with gold rising
But Goldman, it's taking a big old crapper for the last couple weeks or so actually ever since probably
we go all the way back into April 11th we've gone from
1360
all the way down to where they're currently at at 1250 29
So we've had a big drop in gold and gold may be considered for some
Commodity traders and some investors to be a good entry area
Because we are we are approaching the exact mid-level price for the entire history of gold
According to my charting software we're approaching the exact middle
Price level so it's it's trading pretty low compared to what it has been before
But yes, people will still buy gold and silver because it's you know, it's you can touch it. It's very tactile its shiny. Yeah, I
Mean gold is gold is I buy my own metals, but I buy the actual bullion I buy
physical
metals because you know those are worth something so they you have a safe you keep them in a safe John Morgan along with your
Canned goods and your apocalypse
shelter
Yeah, I keep them hidden the outfits they're not out there
If there is some type of like zombie
Apocalypse, I'm not I don't know what I'm gonna do with my gold
Am I you're gonna walk over to the Shell gas station?
And they're gonna split it up like a piece of it from a pirate ship. So Silver's and Silver's a lot more
yeah that mess up it's cheaper and you can use it a lot easier as
a basis of trade of your trading just you know pure metals but
yeah, it's uh
Metals are always going to be a source of security and and people should always have your ear in
Retirement and investment advisor so John Morgan. Okay, so you've got me all excited
Right. I might even my wife and I might even try watching The Walking we didn't get into the series
So let's say there's a zombie apocalypse. Okay or a massive
nuclear war between India and Pakistan
language throws nuclear radiation dust clouds up mass starvation
Crop failure or a war between USA and China or nuclear terrorism. So we have the zombie apocalypse
Alright, I want to know what's in your basement. Do you have firearms?
Shawn Morgan, thank you so much. I appreciate you joining us. I appreciate your time
John Morgan private-independent day trader spoke to us from his home office in Yankton, South Dakota
He trades fued futures and it's Forex lens coms live trader back with more right here on crystal nation on
Sirius XM 167
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