Daniela Cambone engages in a conversation with market expert Todd “Bubba” Horwitz, the founder of BubbaTrading.com, delving into topics such as the trajectory of gold in 2024, the U.S. dollar, the current economic landscape, and the “Taylor Swift Effect”. Horwitz predicts that gold will reach an all-time high this year, emphasizing the importance of including metals in every portfolio, particularly physical ones rather than paper assets, due to concerns about the flaws in the fiat currency system and the risk of currency devaluations. He also challenges the reliability of optimistic employment figures, suggesting that they fail to accurately reflect the true state of the economy. “Next month when they come out with the jobs number again, I’m sure the revised just went lower,” he remarks. Furthermore, Horwitz expresses his admiration for Taylor Swift and recognizes the positive impact she has had on both the economy and the younger generation. Watch the video for further insights.

CHAPTERS:

00:00 Super Bowl atmosphere

1:46 Biden’s comments on inflation

2:59 U.S. economic status quo

5:49 When will the Fed make the change?

7:32 Jay Powell on 60 Minutes

8:26 Gold outlook

10:44 Gold price trajectory

11:45 U.S. dollar

13:19 Swift effect

TRANSCRIPT FROM VIDEO:

00:05

Hi, this is Daniela Cambone and welcome back to the Daniela Cambone show in our brand new studio in New York City and joining me today for this inaugural launch, Todd Bubba Horwitz, so good to see you. Welcome back to the show. I have to have you as my first guest in the brand new studio here. What’s up, Dani? I love the new studio. I love being on with you. It’s always great to be here. And obviously I come bearing a raspy voice today. No.

00:33

It is not from Super Bowl celebrations, but obviously, we’re probably most likely something that my kids brought home from school. You are in Las Vegas, right? So before we talk economy, we talk real business. How was it? How was the atmosphere? I mean, you’re right in the middle of it. The atmosphere was packed. It was exciting as it always is for Super Bowl. You know, remember that although the Super Bowl was here, which was great, the Super Bowl is always a big event in Las Vegas anyways. It was just bigger. And with the…

01:02

with the new big sphere. It was really wild and crazy down on the strip. So it was a lot of fun, really had a good time and had the winner. So what could be bad about that? Yeah. I mean, I was curious if you watched any of the commercials. I watched them all. I watched the entire game from start to finish. Cheering on the Chiefs? I was cheering on the Chiefs and I was cheering on, hopefully I was hoping Harrison Buckner would get the MVP. But…

01:31

Unfortunately, it didn’t. Looks like the real MVP might be Taylor Swift and we’ll talk about that. But the reason I bring up the commercials, this wasn’t a commercial during the NFL, but President Biden celebrated Super Bowl Sunday in a way many saw as a bizarre and ironic video attacking shrinkflation. In fact, Baba, I Googled whether it was actually a fake video or not. I’m not sure if you caught it, but basically,

01:59

He was quoted as saying while you were Super Bowl shopping, did you notice smaller than usual products where the price stays the same? Folks are calling it shrink inflation and it means companies are giving you less for every dollar you spend. I’m calling on the big consumer brands to put a stop to it. I mean, not sure if you saw the tweet, any thoughts on it, but I mean, it was a random time. Well, he’s a random idiot. I mean,

02:25

let’s face it, the courts ruled that he wasn’t that cognitive enough to stand trial. But at the end of the day, the companies have been doing that for years now. Since this whole inflation gig started up, you go to the grocery store and your normal 16 ounce steak is 12 ounces for the same price you’re paying for the 16 before. I mean, this is the way they’re trying to hide inflation by showing you that the prices aren’t going up at the store. You’re getting less for your money, which is 100% correct.

02:53

Well, this is really the point of what I brought you on today, to help us solve this mystery. So we all get it. Strong unemployment rates, rising consumer confidence, easing inflation. But the truth of the matter is in the debt. That’s where the truth lies. Household debt on the rise, Americans using credit cards more than ever, can’t make me payments.

03:21

you know, according to a recent survey, I read, you know, the most of it. And the latest New York Federal Reserve data showing that rising credit card debt and out of loans help push U.S. household debt to new records in the fourth quarter of 2023. So break it down for us. You know, we keep seeing the headlines like economy is doing great, but no real person is seeing or feeling this at home, Baba. If you’re a believer in the numbers they report,

03:51

you should go see a doctor and go lay on a couch for a while. Because the numbers are garbage. First of all, you want to talk about employment. Last year in 2023, the employment was 63% was either government or special projects that were sponsored by the government. That’s number one. Number two, inflation is not coming down. They are reporting you numbers that are inaccurate, but nobody ever pays attention to the revisions. Next month when they come out with the jobs number again, I’m sure they’ll revise this one lower.

04:20

If you draw a line at the upper middle class and above, they’re not feeling the overall pinch. But those who normally go to work, those who are being laid off are spending more money and forget about the dollar amount because obviously we have inflation that has to account for it. But never in the history have we had this many people that limit on their credit card that can only make the minimum payment, which means they’ll never get that payment paid off. So we’re spinning and spiraling out of control.

04:49

into a disaster. Look at the amount of homeless people on the street. Look at the lack of employment. When you go into a store, you can’t get any help. And then of course you’ve got all the crime that’s now involved because of your president that doesn’t care about anything. You’ve got Oakland where they’re shutting down in and out burger, which every other place in the world, there’s a line around the store every single day you go there or in Portland where Nike and Starbucks are closing stores. I mean, you saw in New York city, the police were getting mugged.

05:19

So, so, is that unbelievable that we let the illegal aliens in this country and they mug the police and you’ll give them no bail and let them go away? And who gets to pay for that? Oh, we do. You and me, the taxpayer get to pay for all this garbage that we are watching going on in this country. And it’s a tragedy of what we’re watching with, with, with this administration and what we’re doing to the greatest country in the world, or what used to be the greatest country in the world, the United States of America. So if the appalling spending has

05:49

benefited only the rich and the interest rate cuts have obviously affected the middle and low income class. When is the Fed gonna make the change here? Well, first of all, they shouldn’t be cutting rates. It looks like there’s no time soon. They shouldn’t be, they should not be cutting rates. So first of all, we shouldn’t have low interest rates. Low interest rates benefit the extremely wealthy. They don’t benefit the lower middle class, okay?

06:17

The lower middle class isn’t borrowing that much money. Okay, the wealthy, they can borrow as much as they want and they can get their credit. All you’re doing is allowing the banks to over leverage themselves and force the taxpayer when they go bust again to pay for their mistakes. Rates are too cheap, they should be higher. There is no reason that we should have ever gone to where we went to. They should have never been at zero or one. And right now there’s a line, the emergency lending rate, loan rate, the window.

06:46

has never been this crowded with banks that need money from the Fed. So again, and if these numbers are accurate, okay, then they can never cut rates. They have to let rates go higher or we’re going to continue to remain too hot. But it’s being too hot with a very small amount of the population that can take advantage of that. So that’s what’s going on. You’re now starting to see housing troubles because, of course, the rates are higher. The housing is not as slick as it was.

07:14

and you’re now getting deals, even on new construction, you’re getting deals now. So they’re telling you ahead of time that there’s a problem. We’ve developed and created a monster with rates where they were because they do not let the free market discover where rates should be because they can be much higher if you let the free markets trade them. Right, but it looks like we’re only gonna have some sort of pivot now. I mean, I’m not sure if you watched the 60 minutes with Powell, but most are only thinking, you know, come summertime now. He looked like a bozo.

07:43

on 16 minutes. He said, I don’t know. Why, why do you use 2% of the target? I don’t know. I mean, is that something that you want your fed chair, probably one of the most powerful people in the world to be on national TV and say, Oh, I don’t know why we use 2%. I mean, where do we get the numbers that they make up? Okay. Listen, the only time we’re going to cut rates, in my opinion, is potentially right before the election. If Trump is the Republican candidate and they want to try to stick it to him.

08:13

they’ll cut rates right before it to try to improve the economy. Other than that, you know, there’s no way they can cut rates. With the reports that we’re getting on inflation and on everything else, there’s no way they can legitimately cut rates unless it’s a scam. Let’s talk markets now. Let’s focus on gold prices. You know, it’s the year of the dragon, Baba. The dragon baby rush, they’re saying, could drive gold prices to new highs if the nation, China, decided to invest in this direction. This is according to one broker.

08:43

Crow government officials are hoping the influence of the year of the dragon, which is revered for its power, strength, good luck, and wisdom, will encourage couples to raise the birth rate. The last year of the dragon in China saw a 38% rise in new births. Okay, more than the rise in birth rates. I’m curious to know your thoughts on this current gold market. I mean, as we’re speaking right now, getting some pressure from the stronger US dollar and US treasury yields. Your take on gold?

09:13

And could we see- I’m sorry. Please, no, no, your take on gold and whether we could see a renewed interest in China buying. I don’t know if it’ll be China. China’s in a lot of trouble. Nobody talks about the problems that China has there. And I don’t know if they have the, they’re once again, as they let the people develop a middle class, they’re now trying to destroy it again. But again, gold itself, I think is going higher. Now again, it’s gonna vastly, we’ve been stuck between 2,000 and 2,100 for-

09:43

a couple of months after making a new high. And I think that we’ll make all time new highs again this year and I wouldn’t be surprised if gold get to 22 or 23 or 2400. I mean, again, I don’t know when it’ll be, but I think that gold is gonna go higher. I think silver is gonna go higher. Listen, I think the metals are a place to be. And I think that every portfolio should have some representation of metals and physical metals, not paper, but physical. Because again, paper is, I don’t think there’s enough gold in the world to cover the amount of paper that’s been sold.

10:10

but I do think you should buy our physical metals and have them because I do think they’re going higher. I mean, listen, we’re gonna have markets that are gonna go up and down. And again, it’s a good asset class to own. And remember, you may sometime need it as a currency again, because with what’s going on with these currencies and these phony central banks around the globe and the fiat currency, which is absolutely a worthless system trying to benchmark dollars against each other.

10:37

It’s a scam. I mean, they can do whatever they want with them. All they’re doing is giving the ability to devalue your currency and your dollars. What do you say to folks? Because obviously, I know you’re a believer in gold, who say, given all the geopolitical tensions, why? And of course, I know there’s the argument, look, gold’s doing what it should and it’s at all time highs, but people want to see $2,500 gold. People want to see $3,000 an ounce gold here, Bubba. Well, I want to see Harrison Buckner win the MVP for 302.1 in the Super Bowl. But again.

11:06

It doesn’t happen until the markets are ready to buy it. Remember, the gold markets, all markets are developed by buyers and sellers or price discovery, right? So until the buyers want to step up, I mean, the sellers can’t just manipulate it lower unless they’re willing to commit too much capital, which eventually they’ll get stuck. At the end of the day, the gold market is going to go up when the buyers decide to become more aggressive. And right now, they’ve been very passive. We’ve been seeing sideways action, and you’re seeing

11:34

The strong hands become buyers, push it up to a level of resistance. The strong hands come and become sellers and push it back down to support. And that’s just the churning of any market. It’ll break out eventually and most likely to break to the upside. Let me talk to you a second here about the US dollar, which you brought up, because I’m sure you caught, if not all, but parts of the interview between Vladimir Putin and Tucker Carlson, where Putin warned that the Biden administration is.

12:01

killing, he said, the dollar with its own hands by turning the currency into a weapon of foreign policy. Thoughts on that interview and that specific statement about the weaponization of the dollar? Well, I mean, listen, I think that this administration is trying to have a destruction everywhere. Okay. They had a perfect ability to put the Ukraine-Russia conflict to rest and eliminate all these problems. They’re trying to destroy…

12:29

the country the way we know it. They’re trying to turn it into a Marxist or a communist country. So everything they do is not to the benefit of the citizens here, but to the detriment. And of course, again, the stronger dollar, look, the dollar trades like anything else. And whether they’re weaponized here or not, again, it still trades against the other currencies. And I think that the dollar is higher. And why do we want to, why don’t we want a stronger dollar? I mean, because it makes gold go down or because it makes the commodities go down. Look.

12:57

You want your commodity, you want to sell commodities at a price, you get a higher dollar, sell the commodities for a cheaper price if you really believe that’s the case. I don’t believe in that case. I think that if they had an actual, if the dollar had an actual backing like gold, like it used to have, then we would know what a real value was instead of the artificial value that is put in by the Federal Reserve and the central banks around the globe.

13:20

Todd, we started talking the Superbowl. So let’s just end with this fun fact, because I know you are a real Taylor Swift fan. That front office sports first reported the pop star generated more than 330 million for the NFL and the Chiefs. This is according to Apex marketing group. This, and she only attended 12 games leading up to the Superbowl. And according to a recent survey by Lending Tree, she’s getting the younger kids, mostly young girls interested in the NFL. She’s making an influence, making them care about

13:50

Football, your thoughts as I know a diehard NFL fan on the Swift effect. I think there’s nothing better than Taylor Swift being so heavily involved in the NFL. She is phenomenal. I mean, I don’t see her on the NFL fan, but she is phenomenal. When she does a concert, she does a concert for the Rebels. Everybody loves her. Okay. She is the most popular icon in the world. Why wouldn’t you want her representing your product and out there and bringing in?

14:19

The younger generation, because again, look, with all the gambling that’s going on and all the apps that are going on, the legalization now in New York City, okay, they’re bringing in more people. And believe me, the reason that football is the number one sport to begin with is because of the gambling, not because of the game. And now you’re bringing in a whole new generation of people that love Taylor Swift and they’re becoming interested in the NFL. How can you not like what she’s doing? And anybody who says different is an idiot. And they got to shake it off.

14:48

I mean, if you’re a Swifty fan, you know my reference, but I guess that’s why there’s so many, you know, conspiracy theories as you know, why did Taylor Swift become involved? But anywho, we’ll save that for another day. Thank you, Todd Bubba Horowitz of BubbaTrading.com. You’re the best, Annie. Thanks, honey. I appreciate it. We’ll see you soon. And we’ll see you all soon, very soon from our brand new studio here in New York City. Be sure to stay tuned to the Daniela Cambone show.

15:17

here on ITM Trading and don’t forget to sign up at danielacambone.com. And as always, if you have any questions, comments, want to discuss, uh, you know, the content that we talk about on this show or have questions about building a strategy mostly surrounded about precious metals, then be sure to reach out to one of my incredible colleagues over at ITM Trading by booking a Calendly appointment in the link below. That’s it for me. We’ll see you soon.

SOURCES:
https://x.com/Bubba_Trading?s=20
https://bubbatrading.com/

https://twitter.com/POTUS/status/1756713597864988940
https://www.cnn.com/2023/08/08/economy/us-household-credit-card-debt/index.html
https://www.cnn.com/2023/12/06/politics/cnn-poll-biden-economy-crime/index.html
https://www.newyorkfed.org/newsevents/news/research/2024/20240206
https://www.bls.gov/news.release/empsit.nr0.htm
https://www.youtube.com/watch?v=bk9gmBWnajQ
https://www.youtube.com/watch?v=Xwyr8loOYfI
https://www.youtube.com/watch?v=VDswuI5OUeU
https://www.kitco.com/news/article/2024-02-12/gold-price-weaker-amid-bearish-outside-market-forces
https://www.cnbc.com/quotes/.DXY
https://www.cnbc.com/quotes/US10Y

https://www.cnbc.com/quotes/@GC.1
https://www.forbes.com/sites/digital-assets/2024/02/09/biden-is-killing-the-us-dollar-putin-issues-serious-34-trillion-warning-as-the-bitcoin-price-surges/?sh=23fd03fdbc08
https://frontofficesports.com/viewership-records-and-crying-swifties-taylor-swift-and-the-nfls-budding-business-relationship/

https://www.youtube.com/watch?v=AOOE-26zfb0