Housekeeping: Good morning. Transcript attached, please excuse background music. The presentation builds on concepts discussed in this space before. First pre-published April 20th for Founders.
Intro:
What follows is first a reassessment of the secular drivers discussed here for the better part of two years. Second, it is a gut-check on what sort of Black Swans can interfere in these secular trends. Questions like these are addressed:
Have we come too far too fast?
Are we going to get a major slam?
What is putting this market in overdrive?
What can end it?
Questions like the above had been asked regarding this rally, and if it was time to be skeptical about it. Healthy skepticism is fine.
But, paralyzing skepticism, usually born of scar tissue from the decades of lies we have all had to deal with, is not healthy. The trick for us is in separating the healthy from the paralyzing skepticism. This may help.
Podcast Topic Overview:
Fundamental Catalysts for the rally
What The BRICS Are Doing About it
Has Anything Changed to cause concern on These Trends?
Upcoming Events Causing More Aggressive Gold Purchases
The US Presidential Election in November
The October BRICS Summit
These Events are Deadline Based
Gold Vigilantes: The Fed’s Basel 3 Problem
Why Gold is Being Bought
Bank behavior accommodates bond clients
1- Fundamental Catalysts for the rally
The World behaviorally is de-dollarizing.
The World Does not trust the US as much to buy its newer bonds
Increased awareness and concern about our debt and lack of buyers for the new debt
Infrastructure, Social Safety net, ESG spending
Real Example of Energy infrastructure crisis
2- What The BRICS Are Doing About it
They are swapping treasuries for Gold
They are using that Gold as the foundation for their unifying Currency
