Poor understanding of govt vs private

What world are these guys living in to think it's going to be a blue wave?? There's no chance in the world that happens. Stick to finance and not your political opinions and agendas guys

Remarkable interview Well done by Raoul and Kiril is always a wealth of knowledge.

This was a great interview. Question for Raoul or anyone: Kiril said that his gold portfolio is divided as follows...50% bullion, 25% gold miners and 25% franco (??). What is "franco" or did I not hear that correctly?

So, he discovered that the private sector companies are blood thirsty leeches that grow on the back of the state and take advantage of built infrastructures without paying their fair shares of taxes? And it took him 50 years to realize that?? How many invisible hands do you need to wank yourself dry? (Pardon my French)

Excellent perspective. Great interview.

His audio very bad, hard to understand.

It’s always fascinating to listen to these two brilliant guys. Your content is a gold mine. :-)

Watching this video now and after reading some of the comments, I felt a bit sad. I still remember when RV was a place of thoughtful disagreement while being respectful. We must do everything we can to not let the vocal minority ruin what has made RV great. I feel so fortunate to be able to listen to someone as accomplished as Kiril and I would have never had that opportunity without RV. Let's make sure we don't let these trolls to ruin the experience for new people joining this great forum.

Great conversation! I wasn't that au fait with the streaming companies but seems like a home run.

Sokoloff going full retard again on politics, I figured he would make a comment. Democrat sweep? LOL, no chance, covid fear monger. Why do these guys try to pull this halo effect on us with politics? Kiril, you know about other things, you are sophomoric at best on politics, and all of your past and soon to be future predictions will again be wrong. Another of the global elite, sadly. Then he has the nerve to talk about nationalist policies (who will do this?) after the blame Trump and Dem Sweep madness. LOL - Trump would do it. And he will, when he wins. Clown world again here on politics. (By the way, I'm in cash/gold/btc long term)

I'm in agreement in regard to gold and miners. Let convinced of his argument relative to social and governmental aspects.

Great interview, any insight to his list of junior miners?

Great conversation. If I might add something about currencies forecasting is that the results of US elections will have a massive geopolitical impact internationally. If a blue wave US policies will be pretty much in normalization and in sync with Western countries; dialogue with China, less so with Russia: that is USD bullish. If Biden wins but Senate is republican held then these policies will be there but impact much less so as a gridlock in the US very possible with quite different views in some respect. It is still bullish but not as much. If Trump wins and get Senate that means double down on his agenda. For sure Europe will be then tariffed more and you can expect not getting along with the US nor try to anymore. Canada as mediator and opportunity taker in that sense. Nato will then disappear? For sure Germany France Italy Denmark are accelerating projects to strengthen their defense capability fast and not relying to US. Thinking at that scenario means more isolation for the US and currency wise less dominance and rotation for the dollar in my view. Still dominant in the next 2 years but after that? Another reason for being long BTC, GLD, SLV

Amazing video. Amazing! When are you upgrading RV app so that i can have video in the background (picture-in-Picture) on iphone?

That was amazing. Kiril is a fantastic person.

apologies for maybe a silly question but has the comments section somehow changed? I can no longer see comments with the videos. tks.

Wikipedia The saying, "A billion here, a billion there, pretty soon, you're talking real money" has been attributed to Dirksen, but there is no direct record of Dirksen saying the remark.

I didn’t realise Kiril also holds Bitcoin… Always love hearing him. He’s so generous with information and insight.

There is an tokenized gold coin, 1coin to 1gram of gold DGX, also you can request the gold in physical with extra cost https://digix.global/#/

Switzerland is the safest place in the Covid world?! 62k active cases... Would have thought NZ or Taiwan more obvious

Love the content. Is it possible for the next interview for Kiril to have a better mic or something? Find it hard to hear his audio clearly.

I've got 2 BTC wagered on KS being wrong about politics. Fade him. But get with Pal and KS on BTC and gold positioning. In the meanwhile, make money with me my friends.

So glad you asked about the gold vs. bond allocation Raoul. Makes total sense to me as I am 48% equity 34% gold 4% BTC after being close to 100% equity my entire life. Felt lonely thanks for the lifeline,ha

Kiril is Gold.

Overall, this is one of Kirill's worst. He suggests that he called the 2020 "down year" by predicting global tourism going down and acting like the market drop was anything but Covid, which he nor anyone else who says the same thing called. We PURPOSEFULLY shut down our economy. That is NOT fragility. It's unrelated. McCullough does the same thing and he and his peons don't bring up how they were also wrong for the last 7 months about another drop. Looks like it's not quite as fragile, Keith/Kirill! Oh, and it is fragile, but you guys make so much stuff up and don't hold your own predictions accountable it gets sickening after a while. Raoul does a far greater job of staying away from silly topics he knows little about (like politics) and he's certainly not a conservative, I'm guessing. Maybe Sokoloff and Novogratz can get together and bail out more criminals, then cheers a few finely aged scotches while NY goes further ghost town mode and their ivory towers allow them a great view! Cheers, gents!

That was an interesting interview but his comments on Europe and a blue wave in the USA are hard to reconcile. Time will tell but the Euro construct is deeply flawed and the negative rates is all the evidence needed to make that conclusion. The European banking system is on its knees and I would have thought he could have connected the dots better and discussed the necessity for a digital currency in Europe. It is their only hope but it will come with severe consequences making his gold call all the more timely.

Mr. Sokoloff is falling for the perspective that the seen is much better than the unseen. He sees that a bridge is built by government, so he believes it is the only way. It's unnerving that he believes only governments can build bridges, high speed rail, and other projects that need large scale societal cooperation. This perception is most definitely the most dangerous virus of our time. Our government friends have convinced Mr. Sokoloff and others that government, and only government, can achieve such works. Mr. Sokoloff complains about what he sees, but instead of deciding to go in the opposite direction he believes we should continue with more centralized planning. Instead we should go with what has been unseen by giving power and resources (taxes) back to individuals and allow them to cooperate with society.

Anyone catch that Orlot? reference in Mexico? Can't seem to find it.

Brilliant, thank you.

Priceless. More of Kiril, please.

I’d happily vote for Kiril 2020

Lovely.

Everett Dirksen said" a billion here a billion there ....

Interesting to note; Warren Buffett didn't buy gold, he bought a gold miner.

Kiril is worth the the essential tier by himself.

Tremendous to see two greats talk about the world's longest-standing currency. Gold history is a 101 prerequisite for all investing.

Don't trust the AISC number go to the balance sheet of mining companies instead.

The Grand Senior of Finance.

https://soundcloud.com/horizonkinetics/horizon-kinetics-roundtable-with-murray-stahl-event-date-sep-24-2020/s-ScfyXLUGE4H thinking that humans can control the environment is a fallacy ,

As a young lad I used to walk by a statue in Edinburgh (often drunk) and subconsciously knew I'd find out who he was one day. He is oft quoted by Dr Lacy Hunt as one of the greatest minds of all time and quoted again by Kiril 43:17 mins (Einstein credited him as the inspiration behind his theory of relativity). That statue was of David Hume. Brilliant interview btw.

The world is 100% convicted that interest rates will remain low or negative , It seems that this is the most crowed trade in history, What happens if rates rise ?

Really enjoyed the interview but per chance did anyone get the name of the mining company he talked. It sounded something like ORLA Mining or the like?

Perhaps MMT proponents can learn a thing or two here!

Always a pleasure to listen to Mr. Sokoloff and Mr. Pal discuss anything. The US is being torn apart by COVID Times. I would rather have normal recessions than always printing money. The pandemic is different. The US will have to print to keep any economy at all. Europe through the Euro does not have this capability. COVID Times will be with the US and Europe to some extent for at least four, yes four, years. It will not be over in 2021. It spreads whether you have symptoms or not. The immunity in recent British studies is gone in months. Even the vaccine may need to be taken often. There is no herd immunity without constant vaccinations. Europe will surive, but I do not see anyway for the Euro to survive. I have been wrong before, but if you combine a most contagious virus with a non-compliant population you have pandemic longevity. The vaccine and better treatments will mitigate the pandemic's effects on the population and the economy. I hate it, but four years is possible. DLS

Great interview. I‘m not so sure if Kiril is right about Europe. Personally I‘m much more pessimistic.

Inflation will come from de-globalization, de-urbanization, food iinflation, populism and a higher velocity of money from fiscal stimulus.

https://mises-media.s3.amazonaws.com/Letter_Howard%20Buffet_Murray%20Rothbard_19620731.pdf something you may not know, maybe you do. Buffett’s father was a hard money guy. He wrote letters back and forth with Rothbard. Here is one of the letters in the link above. Great interview!

Always a pleasure to hear from Kiril. Thanks Kiril, Raoul + Real Vision team.

https://www.youtube.com/watch?v=ugj634e4TjM FYI

The gross profit margin on quality miners are akin to tech companies. It is hilarious, bordering on bizarre, how under invested funds are in the space. As Mr. Sokoloff said, this is beginning to change; Zell, Dalio, PTJ, Gundlach, and now Buffett. I would go back and listen to the previous interviews with Pierre Lassonde and also Ross Beaty here on RV, if you are still gathering information about the value of physical gold and quality mining plays. Also, I recommend watching a recent great interview with Beaty and Frank Giustra: https://www.denvergold.org/keynote-webcast/dgf20/100/ Two ridiculously successful, multi-decade long, epic investors in the mining space. They are humble and straightforward about the value of gold. Maybe RV can get Giustra at some later date in the future. Thanks again Raoul and RV for getting Mr. Sokoloff back, his calming philosophical approach to these complex times, is an incredible value and makes me proud to be a part of this community.

"If you are in a bull market, you buy and hold"

Greek Shipowners have increased GLD exposure from 1-3% to 6-10%. UHNW

Will have to read the Transcript as hardly cannot hear what Mr Sokoloff says

Perhaps not relevant from a investment angle but the important point Kirill makes about Europeans having WWII a part of their collective consciousness. The polar opposite in US. Such as it is fashionable for millennials to bash baby boomers for the US physical conundrum. The US is now experiencing some of the pain directly linked to it's participation in the WWI. The war is solely responsible for creating the baby boomers. Lastly I think FDR's Social Security Act of 1935 coincidently played an important part in getting American families on board to make the sacrifice that they accepted to have US the big winner, at least up until recently.

Just Excellent. Kiril is amazing. Coincidence? Today, after earning release, Newmont Mining hiked its dividend 60%(2.7% yield), Agnico hiked by 75% (1.8% yield) & Alamos hiked by 33% (1% yield)

please have people use headsets. the audio hurts and this is distracting

Superb, thank you.

More conversations like this, please. RV has become very crisis-focused and crypto-focused these days, and I miss RV from 1, 2 years ago.

Fourth innings is the last one in cricket - quite late stage then are we chaps?

For someone (like me) who doesn't have the background to evaluate individual gold miners, is the best option to buy GDX? This gives me exposure to the big players in that sector and presumably the ETF management earn their fee by ensuring the quality of the index members - or is that a dangerous assumption?

Just excellent. Individuals like Kirill and Tony Deden are examples of highly prudent investors, especially for the longer term. I am solidly into the monies and the physical. I am closely looking at other commodities, particularly agricultural. I am finally now into the GBTC for my IRA and about to buy my first bitcoins. I am now heading toward 50% of my wealth in precious metals/miners including a small exposure to Bitcoin.

Did anyone follow his allocations when he discussed in percentage terms physical gold, miners, and Franco Nevada? I listened to it three times but still didn't add up for me?

i wished u asked him about bitcoin

Fellas, thanks for the great interview. Kiril briefly mentioned a Gold crypto and I just happened to come across PAXG the other day. Turns out BlockFi is offering 4% APY on PAXG deposits if that's worth it to anyone out there. Apologies if anyone has already mentioned PAXG in a previous comment...

Brilliant interview; please can RV do more of the Sokoloff expert series interviews

The king of gold miners Ross Beaty.... (EQX....PAAS). Watch this classic real vision with Ross and Grant Williams....Ross is the real deal. https://www.realvision.com/shows/grant-williams/videos/grant-williams-in-conversation-with-ross-beaty

Fantastic interview! Thanks Raoul! It would be great to have a conversation between Kiril and Stanley!! This is how I found RV several years ago and I think these are the times for an update!! I'm also eagerly waiting for an interview from your previous boss!! Mr Paul Tudor!! cheers!

really enjoyable discussion.

Excellent discussion. Thanks to both of you. I hope Kiril will be back soon.

Does anyone know the index Kiril references? The index he said he created?

I intend to sell all my miners/royalty co. into the hyperinflation collapse because all gov'ts will be desperate for income after the 'reset', and they will nationalize/massively windfall tax all producers. That is a very high probability, IMO. I can very highly recommend NFG for speculators. See my post on it for details.

I generally don't get star struck. But these two guys leave me so very appreciative every time I listen to what they have to say. Real Vision is aptly named. They are in a class of their own. Congratulations and thanks.

Since most core discussions in macro seem to be returning to quantifying supply vs demand - especially in Bitcoin. Would be interesting to see interviews that clarify the actual supply of gold mining production next 5yrs. Does gold mining production through 2025/26 actually see the historical supply increase of +2%YY over time? Suspect there is a difference in fact versus opinion here. But would be great to see someone who can nail this one down.

Thank you for this interview!

Kiril is definitely one of the best guests on RV. Very insightful and a brilliant thinker. I am quite certain that his 13D miner portfolio inc FNV, AEM, Barrick, AGI, Newmont and AU Gold/Gold Miners seem to be a very BIG portion of his overall portfolio. He is a historian / cycle expert and will prove to be correct imho.

Loved this conversation and Kiril is like a zen master his voice is so calming. He should do mediation tracks. Also does Raoul have a Barbers chair in his house?

Is the volume a bit low or is that just my setup?

If you want to invest in miners, highly suggest you subscribe to Fred Hickey's newsletter. He does tech and miners and will give you a thorough review of miners to buy. Also watch Ross Beaty's interview on RV. Companies Ross is involved include PAAS, EQX, and LMGDF. LMGDF is in exploratory phase now and Ross says its a 5 bagger. They will look to sell it. Trades OTC. Also look up his videos on Youtube. He is a good one to follow based on his successful track record and the fact there are some shifty characters in the gold space, so you want to go with those with a track record.

What a comforting wise man. His clear calm delivery helps you to think through the noise. For me he is so reassuring since my allocation is very similar to his. I do think I trade around my position too much after digesting what he says. He is fabulous. Thank you Raoul

For investors looking into gold exploration stocks, check out Tudor Gold, they're currently sitting on at least 25M ounces. perhaps even up to 5OM in Canada. One of the best well know properties. The 17,913 hectare Treaty Creek Project lies within the “Golden Triangle”, one of the most important mineral districts of northwestern British Columbia. The Project borders Seabridge Gold Inc.’s KSM property to the southwest and borders Pretium Resources Inc.’s Brucejack property to the southeast. The past producing Eskay Creek mine lies 12 km to the west. Billionaire & huge gold investor Eric Sprott is a huge shareholder. Ken Konkin & Walter Storm spear head the project, very experienced & well know among gold miners. American Creek Resources also owns 20% of the project besides there own property which Eric Sprott os also a huge shareholder. Important to note, this mine is huge & will be an open pit mine-very profitable. Check them both out. AMK & TUD tickers.

The Pal-Sokoloff interviews alone are worth the price of the Real Vision subscription. I only wish we could be treated more often. If one revisits that Fall 2019 interview, one is shocked by how accurate the forecast turned out. As for these junior miners, Mr. Hugh Hendry said recently that they were like owning tech giants in their infancy. All the fundamentals certainly point to that. And Mr. Sokoloff has just added further confirmation here. 2021 looks to be one hell of a ride. Interesting times indeed. Proceed accordingly. Cheers.

Kiril comes across like a very decent human being

According to Rick Rule that total Institutional funds have only 0.5% allocation to gold. If that allocation doubles, you could easily see 10X returns.

SUPERB INTERVIEW! AWESOME I am a brazilian, 33 y old guy, buying only two bullets: '1 gold and silver miners 2 bitcoin (and galaxy digital) Cheers!

Fantastic interview...Thank you. Based on comments below, I think Marin Katusa would be a fantastic follow on to guide members on discipline in trading, metrics worth considering, ETFs versus your own personal basket etc. Has been on RV previously.....a friend of Raoul also if I am not mistaken? Thanks again.

Great interview from Kiril like always. Great thinker. I own Gold, Silver and Bitcoin. Where does property fit into this thesis? Buy more or sell? I have my own thoughts keen to here more opinions.

Which is index of potential acquisition candidates Kirill is talking about?

Great interview! Please thanks Mr. Sokoloff for sharing his knowledge and thoughts!

Kirill is definitely one of my very favorite speakers on RV. Every video of his is a must watch. Amazingly clear, sober views on what is going on.

Excellent interview. Always a pleasure to hear from Kiril!

One of the best ways to make sure you buy and hold gold is to buy the physical bullion. Buy it slowly over time in the same way you would save money. If your annual income/wage inflates at the same rate as the price of gold, then you will be buying the same quantity of metal every month.

Simply marvellous. Thank you.

This was great! Thanks a lot Kiril & Raoul!

WOW....JUST WOW!.. Sublime interview with so much insight. I have taken two A4 pages of notes! Thanks :-)

more content like this please

Superb stuff from Kiril, as usual. Kiril is a mentor and role model for us all - extremely sharp, humble and non-dogmatic. Deeply questioning things, always keeping an open mind and always learning. I learn as much about character from watching him as I do about investing.

Superb ...

Some things in life are best suited for young brains with an ability for a focused but deep analysis. Effectiveness in investing, as is the case for so many complex systems, is best suited for experienced brains containing accumulated wisdom. Kiril is the best at doing so. Miners and royalty companies makes an incredible amount of sense right now as does owning physical bullion. Miners, physical bullion, a few commodities, selected recession-resistant stocks, selected tech stocks that enable efficiencies, and BTC are how I'm positioned.

Great interview pity Kiril’s mic wasn’t a bit clearer