Gold Is Going To Go!

Submitted by QTR’s Fringe Finance

Last week I released a joint podcast effort with my dear friends over at Palisades Gold Radio, one of my favorite podcasts.

I had a conversation with Tom Bodrovics, the show’s host. Tom is a private investor from western Canada with a background in oil and gas. In 2014 he identified the top of the housing cycle and sold his home to invest in the junior resource sector. He gained a libertarian and contrarian perspective in 2013 when he attended an entrepreneurship course in Europe and has been studying markets of all types ever since. He operates a successful business servicing the oil and gas sector in Alberta and is the host of Palisades Radio.

During our interview, we talked about a number of things, not the least of which was a recent Federal Reserve report indicates that China was trying to infiltrate the organization. I also explained why I think China wants to challenge the dollar and grow as a global economic superpower. We touched on China and Russia continuing to de-dollarize while stockpiling gold.

We also talked about how the BRICS have announced their intention to create their own global reserve currency.

I told Tom why I believe China has decided they want Taiwan, and they have a very long-term approach to their global domination plans. “I think Chinese equities could suffer the same fate as Russian equities,” I told Tom. “I think China has made up their mind that they want Taiwan.” 

We also went on to discuss the Biden administration changing the definition of recession after two negative GDP prints. The White House and the Fed have run out of variables to mess with, and they’re not getting the numbers they want, I told Tom. GDP is one of the last bastions of common-sense leftover from Austrian Economic thought.

“Is the country in an economic expansion? How do you figure it out? Not from all these ticky-tacky points. Just from the very no bullshit technical recession definition that was tied to basic economics. Those relics of the Austrian days – that doesn’t gel with modern monetary theory,” I said. “The Keynesian system has survived by modifying variables we don’t like”. 

I also told Tom:

Once the rate hike truly makes it through the system, there will be significant shockwaves. There won’t be much warning and things will accelerate rapidly. Expect shocks to the credit market that will surprise many. The Titanic has already hit the iceberg and everyone is in denial.

It will be interesting to see what causes Powell to finally pivot. Don’t be fooled and think that everything is fine because it isn’t.

There is no good reason to not believe in gold’s future. It’s soon going to be the key globally. We’re going to see a rush to buy gold unlike anything we’ve seen. Leverage with the miners will be off the chart. The strength in the dollar will not last. That’s when we’ll see gold explode and never come back.

It was clear that companies doing crypto lending we’re taking on enormous risks. If you see offers for 10% plus yields, then you’re almost certainly looking at a Ponzi, which is what we saw with Celsius. Other firms have also blown up, and it seems like there has to be more deleveraging to come. We still have Tether failing to produce an actual audit, and everyone seems skeptical. Until we get more truth and Michael Saylor is sweating in the hot seat, we may not have hit the bottom. Who knows if Bitcoin is cheap, how does one even judge it on fundamentals?

The importance of being objective and getting a rounded view of economics and politics. Integrity and good faith is more important than just being told what you want to hear.

Here is the interview, which is about 90 minutes in length:

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