Gold Defensive Strategy

Discussion of the Gold portion of the Permanent Portfolio

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whatchamacallit
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Re: Gold Defensive Strategy

Post by whatchamacallit » Fri Feb 26, 2021 8:35 pm

Good interview here. My take away is Robert Friedland thinks all the other metals besides gold will be better investment for inflation going forward.

Also a reasonable and convincing voice on aggressive green energy vs the "we are all going to die if we don't go green now".

Gold’s High Was Optical: Inflation Glimpses Are Deeply Concerning Warns Billionaire Robert Friedland
https://www.youtube.com/watch?v=wOAY0vZiyZ0
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jalanlong
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Re: Gold Defensive Strategy

Post by jalanlong » Mon Mar 01, 2021 5:59 pm

I would love nothing more than to be optimistic. I mean optimism means I get to load up on stocks. I loved buying stocks as a kid, watching the prices go up, getting my dividends etc. But everything I see tells me the economic future is not going to be so bright.

1) what I have seen at my last two jobs over the previous 5 years doesn't give me hope. We have a lot of "doers" and not a lot of "thinkers" in the workforce these days. Both of my last jobs (office financial jobs) have had a terrible time finding decent workers. I chalk this up to the nature of office jobs changing since I was a child. No longer are there very many jobs where you push papers around and file things etc. Most office jobs now require you to be tech savvy, be able to multi-task, work autonomously, be able to communicate clearly thru electronic means etc. This (in my experience) has left a huge amount of the job force behind and it doesn't look to be getting any better. My current employer has had to outsource a lot of our office work to India where the workers have done a much better job at a fraction of the price. If this continues then unemployment could go up quite a bit in the future. That is not even counting the automation that might be coming down the pike.

2) We currently have a $3.3 Trillion deficit. How could we ever normalize rates given the interest we will have to pay on that? We seem to also have a public who wants a lot of "free" things and politicians who are chronically fighting to see how much free stuff they can give away. I am aware that Modern Monetary Theory says we can pay for everything with debt but I am not convinced.

If anyone can tell me if I am wrong about these things or how they could play out in a way that is not so bad economically and give me some optimism I would appreciate it. Something more specific than "well we have made it thru two world wars and a depression" etc!
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