Gold, Tears, and Coronavirus
In the book of Ecclesiastes it says that, “there is nothing new under the sun,” and in economic and financial terms that translates to the adage, “this time is not different.” Dan Oliver, Jr. of Myrmikan Captial LLC joins Real Vision to put the impact of coronavirus into the perspective of supply chain reorganization and the current credit bubble. Oliver outlines the history of how and why credit bubbles form, how the current credit bubble came about, and the mechanisms through which this bubble could pop. Oliver breaks down bubbles from Athens in 594BC to the 2008 financial crisis and what the response from governments has been and might be in the future. Finally, he breaks down his essay called, “Gold Past $10,000,” and provides investors with a roadmap to avoid the worst of the end of this credit cycle if coronavirus triggers a meltdown. Filmed on February 26, 2020 in New York.