Tom welcomes a new guest to the show, Robert Sinn to share his background in precious metals, junior mining, and biotech investing. Robert discusses his introduction to gold during the 1990s debt crisis through his father's experiences at coin …
Tom welcomes a new guest to the show, Robert Sinn to share his background in precious metals, junior mining, and biotech investing. Robert discusses his introduction to gold during the 1990s debt crisis through his father's experiences at coin shows and investments. The conversation later focuses on the Federal Reserve's recent announcement of tapering quantitative tightening and its potential impact on market positioning, emphasizing fiscal dominance and potential softer data suggesting a possible negative non-farm payroll print.
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Sinn further explores the Fed's shift in inflation targeting, proposing that it might adopt a new, unannounced inflation target above 2%, around 3%. He explains that markets have accepted the Fed's decision not to cut rates as frequently as anticipated, but anticipate at least one more rate cut this year. Parallels are drawn between the late 1970s and the current situation regarding government spending policies and inflation trends.
The discussion then shifts towards energy investments, with Sinn emphasizing uranium and natural gas as crucial areas due to their baseload power generation capabilities and affordability. He acknowledges the transition towards cleaner energy but argues that it will take considerable time for this shift to fully materialize. Sinn holds stocks in both oil companies and renewable energy sectors, adopting a long-term perspective.
Theys explore differences in debt structures between China and the U.S., their implications on markets, and strategies for investing in gold. The conversation shifts to Japan's debt ownership versus the world owning U.S. debt. This leads to a discussion about China's debt structure, which sees the government act as the backstop for all debt within their economy...
