Palisades Gold Radio
Oct 19, 2021
Tom welcomes Lawrence Lepard back to discuss the markets, gold, and the fragile state of the economy.
Lawrence discusses the markets and how they are slowing. We may be near a market top. Last year we had explosive growth in GDP but that has waned in recent months. We printed trillions to get us through the Covid period and now benefits are running out. The economy is starting to choke and the key question is will they do further stimulus or will the markets be allowed to roll over.
The debt-ceiling debate is just a pretense to show their ‘responsible’. The big elephant is inflation which is breaking out everywhere. Housing markets are moving higher and very few assets are behaving normally. In the past couple of years, we’ve printed forty percent of the money in existence. Even the Democrats are reconsidering spending but if they don’t spend markets will cool and pull back. In the end, they will likely have no choice but to print more and send out stimulus checks.
The Fed is very good at playing the taper game and they’re not stupid. They will try like hell to keep things going while pretending to be responsible. There is a good chance they will have to stop the taper to keep the markets happy. The reality is you can’t taper a Ponzi scheme.
No growth and higher prices is the definition of stagflation. Back in the 70s prices kept rising repeatedly. Gold and oil were the outperformers for ten years while bonds were killed and stocks went nowhere. Today’s markets feel similar.
He believes the producers are the place to be in mining stocks. They are not sexy but they have a good revenue stream and are currently overlooked.
He discusses the benefits of bitcoin and why like gold it represents a great sound money bet. Inflation will drive the trade out of fiat assets and into alternatives. This is the end game for fiat.
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