https://www.google.com/search?client=firefox-b-1-d&q=Ron+William+of+RW+Advisory

Seconded

Yes. I also think RV needs to bring a gold bear to the platform

This is a great idea. We need a contrary opinion

How about this - Gold is a ring-fenced asset that poses no risk to sovereign govts, ie., "Stick it to the man" isn't going to work, at all. 1. Storage/Rehypothecation - A vault/warehouse says it has your gold. You must believe that they aren't cheating you. They can issue you certificates, maybe even give you spot-check ability to see the vaults, but there are ways to fool people that the physical is there. 2. Market Ring-Fence - LIBOR was compromised because it was a limited number of market makers who saw the opportunity to manipulate prices. Gold itself is a limited market when you consider the physical. Low number of suppliers and primary dealers, it lends itself to a "gaming" scenario, especially when considering point one above. 3. Verification Only Known If You Are Present - Meaning, the only way you can assay your gold is to physically be there and do it yourself, or have a trusted party in your supervision doing so. The moment that vault door closes, you lose any ability to know -- which opens you to risks outlined in point 1. (Unlike Bitcoin, where you can instantly verify at any point on the globe at any time that a private key has access to the BTC someone tells you it has.) 4. KingGold/China - In reference to point one, look at the antics of China where it comes to gold. Scams, rehypothecation -- and that is just because KingGold got caught. They still deny it, naturally. Also google for the recent scams put over on the Jewelry district of New York, tungsten core cladded bars are not fiction, they well and truly exist. Now multiply that risk across many vaults and storage schemes where access restrictions may not be as tight as you think they are. 5. Physical is... PHYSICAL - Given its density and onerous requirements for shipping and insurance, this encourages schemes where clients "holding" gold are depending on outside parties to maintain the chain of custody and hope their bars don't get substituted or altered. Some laud these properties, yet you don't find many that are willing to carry any substantial amount on their person. It isn't practical to do so, and there are sovereign-state limitations on how much monetary value you can have crossing a border. Gold proponents espouse the physical as a desired quality, yet don't explain how that will help when a SHTF scenario happens and you're trying to leave via the only functioning airport, or worse yet, loading down your car to get out of somewhere in crisis. I've never seen someone set up a card table after a disaster with a scale and an assay kit with a sign "Food and Water here for Gold". It just doesn't happen -- because the most valuable things then are water and food, gold takes a backseat until barter makes sense again. That is just a few I thought of...

Uh. I don't disagree with the notion. But Buffet just bought the shiny pet rock. The best you can find is short term bears given parabolic price movements. A macro investor who isn't favoring currency devaluation hedges of some sort... aren't macro investors. I think I've seen a few investors who acknowledge the gold trade but who think they can get better returns from other hard assets. But that's about it in terms of bears. It's a difficult proposition you're posing.

Timothy poses great counterpoints to physical gold itself. But not the price of gold.

@Benjamin -- I don't take issue with the price of gold, because as we all know - the whole structure is a confidence game. You believe gold is valuable, so do others, so they make a market for it. It also helps that fiat currencies are being devalued on a global basis, which of course inflates the price as that side of the equation changes. The true crisis is when you can't trust fiat, and by extension on my points above - you can't trust you have the value you think you have in gold either. Confidence works both ways for any perceived currency. If you went out on the street right now, with a gold coin - no one would recognize what it was and wouldn't trust you to give you money for it. So that limits you to dealers and their numbers aren't great outside of urban areas.

@Benjamin E - To clarify, Buffet bought Barrick (Ticker: $GOLD) which as a miner is a leverage play and dividend play on the Gold spot price. Indeed, they are related but he did not directly buy the pet rock.

Antonio, Benjamin was using an obvious colloquialism. You're being pedantic.

Timothy P All currencies are based on trust. Gold/Silver have no counterparty risk. Your argument as to Physical bullion hold fraud risk/Comex manipulations etc are a separate discussion and valid, but ultimately are actually tailwinds to PM if unravelled as most of the action is in shorting the metals (comex manipulations) and making them perceived as more available than they actually are. It becomes more expensive to mine as easier deposits are extracted. The price of the PM assets in the market look to go higher, but with some corrections along the way, and with more volatility relating to Silver. The requirement to have a bear comment is semantic. The PM market is tiny comparatively to other investments, largely because most investors are gold bears. Look for them under most rocks, but I dont need to waste time listening to their obvious arguments as to why they ignore a class that has been fantastic for me. Fundamental drivers, Low real interest rates for the near future (supported by central bank printing), long term inflationary headwinds, risk increase are all bullish for PM. If one is a trader there are plenty of risks. As an investor I am quite comfortable that the views presented are relatively realistic (altho I favour Lynne's slightly more cautious approach to short term risk, and openness to Crypto ultimately as a shared store of value.)

Sorry I just don’t think most of Timothy P’s point are particularly significant. Points 1,3 and 4 are all about security of storage and trust / verification. I am with a little advertised but long standing Swiss company that has stood the test of time wrt openness and integrity (they are twice the price of the average gold storer and do not advertise their services, you have to “find them). They also source the gold kilo bars directly from a refiner). I am also with the SWP in the Cayman Islands and buy the standard manufacturer Kilo bars. Both services offer short notice inspection and 3rd party regular audit. You can also buy the standard currency coins with them. I therefore have zero concern about theft, tungsten fakes or leasing out games. They are not GLD. Point 2 is therefore also not really relevant especially for the Swiss outfit. Clearly SWP are close to refiners and therefore margins can get elevated as Cayman is clearly a storage hub and not a primary bar manufacturing area. Finally the London Gold Pool also managed to manipulate prices for many years but eventually the free market blew that out. Point 5 has some validity but I don’t hold gold to hand over to folks for food and will never own it in the country of my tax domicile. Silver would be a best choice in the form of coin, however, having said that having spare cash bills in mixed denominations are better plus a store of food and necessities for emergencies. “Gold takes a back seat until barter makes sense again” is a somewhat silly statement. Gold IS money, currency notes are paper promises. All the anti gold folks just don’t seem to understand that gold is a store of value with no counter party risk and if it wasn’t why would the banks hold tons of it? Humans will do as they have always done when it comes to store of value...... the smart ones will own some precious metals when appropriate. The only new kid on the block apart from precious metals ( and property of course) is Bitcoin et al. I am about to get into that this month as it could be a parallel speculation to my silver holdings.

Hi Joseph - quite new to the channel and definitely learning as i go on - I must say i did get a bit lost in the last segment when Lyn is talking about the relationships between real yields and nominal yields and its effect on gold , would you or another kind member be able to summarize?

Hi Akshay, Real Yield = Nominal Yield - Inflation When real yields go negative. (i.e., when interest rate is low and inflation spikes up), gold tends to shoot up. On the otherside when real yields return back to positive territory, gold will pull back.

I agree with you. There is a lot of hate for XRP, which I think stems from BTC maximalists who don’t like that Ripple wants to work directly with banks and Fintech. Ripple is working on solving real world problems. We have heard guests and even RP talk about the problems with swift and correspondent banking. Why XRP and get no mention is beyond me. I get that XRP has little value without Ripple the company so that can be risky, but Ripple has made real progress in the space.

As a person who invests in both gold and BTC, I'm very against Ripple as an investment. It seems Ripple based their model of issuing coins on the Fed's, while BTCs is more similar to gold. Hats off to the people who captured the 50%+ movement recently on Ripple, but as long as management continues to Pump and Dump I don't think i'll hold any.

The term "Bitcoin Maximalist" as coined by Vitalik Buterin after he was rejected from speed-grafting on his "smart" contract experiment in Bitcoin. (The Bitcon dev process is deliberate and cautious for a reason.) After that rejection, he launched his own coin - which is inflationary, by the way - and has the sole achievement of rolling back a blockchain under his watch. The "smart" contract language he was using allowed someone to craft a contract that gave them funds. They called this a "hack" even though the language explicitly permitted it, and then the approx. 13 developers and Vitalik decided to do the "DAO Rollback" with no consensus from their users. So much for non-immutability. After sliding down that slippery slope Vitalik is at it again, but now he claims that Proof-of-Stake is the logical path forward, even though that opens up network security to many risks -- as evinced by the DPoS cou-de-tat peformed on the Steem blockchain by a single wealthy party -- not to mention that Proof-of-Stake itself replicates many of the inequities you find in the legacy financial markets (ie., the more coins you stake, the more influence you have in the system). Couple that with the fact that "ETH 2.0" has been rescheduled, punted, and generally delayed many times doesn't engender confidence that the boy wonder can pull this off. Their testnet crashed recently, which is fairly embarrassing. As well as the massive amount of funds that are being lost in "DeFi" -- but that is another topic altogether. As for XRP, there are two parts, one is a token they hawk to the hoi-polloi for pure speculative reasons, the other is a token they restrict to "known partners" and they claim they have traction - but no one is advertising it yet, curiously. They also have a centralized server scheme (I kid you not) Ripple Server 1, 2, 3 -- even though they say you CAN run one, nobody bothers because the requirements are onerous and impractical. There is a long tail for failures in the crypto space. That is just a taste of what new people may not be aware of. I'd think twice before piling into a token with near-zero history and a massive pre-mined stake held by the issuers.

Can you please demonstrate how Bitcoin has a correlation of 0.7 with Gold if that's what you mean with "70%"? https://www.tradingview.com/x/lmkOCZQX/

Ive been hearing Eric Sprott talk about this production imbalance too and am trying to grasp how it will effect market mechanics. Any insight to help my head bang against this wall with clearer results is appreciated RV.

What's discussed in this video has nothing to do with a SHTF situation. You have missed 100% of the point.

But isn't that the incredible part - as a global phenomenon, Covid-19, together with the resulting money printing by all CBs, has created the largest macroeconomic event since (and greater than) the Great Depression. - There is no more interest rate reduction to spur the economy. - There is no political will for austerity to work out of debt. - There is only money printing to inflate away debt and prop up zombie companies. Agreed, It's all the same. It's boring. Yet it is only publicly acknowledged on FinTwit and our other echo chambers (like RealVision). It can seem so obvious to us, but most still don't see the end game. We are lucky to be aware of this boring, same, information.

I think RV new content should build on past interviews/content. Just didn't think this particular interview brought anything new.

Investing is time driven. If there is nothing new, then no reason to change investing habits. Valuable intel, easily wasted by those that dont get it.. imho.

Check out today’s Daily Briefing

These 2 presented powerful arguments. Not every discussion needs an immediate counterpoint to be distilled and digested.

That was the intended style of the discussion; Mr. William stated as much in his opening words. And when Lyn tried to move on before he was ready, he stayed with the point he wanted to elaborate or expand on before letting the pace move forward too soon. They pretty much synched up well. It was a good dialogue.

That is because the interviewer knows as much as the guest. Valuable counterpoints. Lynne is bullish, but a little more conservatively than Ron due to recent increases in Gold and Silver. Her research is impeccable. That is why I watched this, to listen to her... Great discussion

My assumption in what was meant was that gold was mid-late stage of the first of 3 up cycles. It was the only way I could contextualize that comment.

I too would like that comment contextually clarified.

In what way do you believe you are being short changed by RV?

joe weisenthal... is that you?

Carl D. LOL ;)

Charts are all in the transcript.

I want to delete this comment I comment before watching it. She is a great hoster. Please ignore my last.

Lyn is great in both seats. More of her please

that would be an interesting chart

She’s a regular on Realvision, look back through the archives

Lyn is very good, but with all due respect, she is not on the same playing field as Lacy Hunt