Month: February 2021

Axios/2-3-2021

USAGOLD note: In this podcast, Ray Dalio says there’s something important going on in America. The GameStop “revolution” was part of a game, but if it does not go beyond a game to the bigger issues – like governments going into massive debt and printing money to cover it – then it is missing the most important lessons of all. This is an important message from Dalio that hints at why Redditors might want to look beyond gaming the market to the bigger issues. Dalio, of course, is and has been an advocate for some time of gold ownership, and the founder of the biggest hedge in the world – Bridgewater Associates.

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YouTube/Tony Pasquariello-GoldmanSachs/1-29-2021

“The CARES Act added trillions in fiscal stimulus. How big was it? In three months in 2020, we increased the deficit more than the past five recessions combined (1973, 1975, 1982, the early 90s’, the dotcom bust and the GFC). The Fed in six weeks bought more treasuries than in 10 years under Bernanke/Yellen. Corporate borrowing, which almost always goes down in a recession, which had already increased from $6 trillion to $10 trillion going into the crisis due to the Fed’s free-money policies, went up $400 billion. Putting that in perspective, it went down by $500 billion during the GFC.”

USAGOLD note:  In this interview, Druckenmiller lays out a solid argument for gold ownership without ever mentioning it specifically as one of his holdings. However, he does acknowledge commodities in general as a large and important part of his strategy. He adds that he has a “very, very short dollar position.”  We would be surprised to learn that gold and silver were not part of his holdings.

GFC = Great Financial Crisis

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