Gold and Wealth Preservation (w/ Jared Dillian) | Gold

Jared Dillian, author of “The Daily Dirtnap,” joins Tony Greer to discuss how gold interacts with risk. As risk increases within the system, gold becomes more attractive as a tool to preserve wealth. Dillian and Greer talk about how to best position gold in portfolios and touch on supply and demand dynamics. This video is excerpted from a piece published on Real Vision on April 2, 2019 entitled “What Your Broker Won’t Tell You”

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A collection of interviews and documentaries focusing in on the famous store of value. The series takes a 360-degree view of the precious metal by examining gold's role in history and its proper place in modern investment portfolios. It interviews experts in diverse fields including mining, investment management and bullion storage.

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Gold and Wealth Preservation (w/ Jared Dillian) | Gold


Transcript:
For the full transcript:
We've already seen Mario Draghi do the full dove continuation for the ECB. We're starting to see their bond market rally to a point where we've now got $9 trillion in negative yielding assets. To me, that's the same though.
I think you can see-- I mean $9 trillion with negative yielding bonds worldwide, that number is going to go higher. Like, if I were to come up with a trade on this, I would say--
We know what it is.
--buy calls on green euro dollars.
Buy gold.
Well, yeah, that too. And the gold trade is-- there's more to it than that because it's not just monetary policy with gold, but it's MMT, right? It's modern monetary theory. It's 90% income taxes. It's wealth taxes it's talking about really protecting your wealth. Like, this is becoming a discussion again for the first time in a really long time.
I mean, I think back to, like, 2009, 2010, when QE was getting revved up, and people were buying bullion off of online dealers and getting it shipped to their houses. And there was this whole frenzy of activity around precious metals.
Yeah, totally.
If people start to get agitated again about this modern monetary theory, 90% income taxes, wealth taxes, this is an environment-- there's political risk to gold. And this is an environment that gets people excited about gold.
Yeah, I totally agree. I mean, there were gold coins trading on the street in 2011. When the price was up between $1,800 and $1,900, it became a really, really popular thing. Obviously, the long boat got way overweighted and gold pulled back. But it pulled back to a great level.
The other thing with gold is that there's a whole bunch of things lining up at the same time. And I'm sort of perma-bullish on gold, just full disclosure.
Yeah.
But the supply/demand picture is amazing, right? We're talking about peak gold like we talked about peak oil before. We're just not finding any new gold. There's no more discoveries. There's no more finds. Supply is going down. Demand is going up. It's--
I mean, the whole-- the supply/demand, in addition to all the political stuff and monetary policy stuff, the supply/demand picture is good for the first time in a while.
Do you suggest miners, bouillon, or an ETF?
I mean, look, if you really believe that there's political risk, if you are at all scared or frightened about the direction that some of the discourse is taking, AOC and things like that, then you have to think about physical. You have to think about physical--
Yeah.
--for a portion of what you're doing.

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