Pricing mistakes happen when expectations shift or liquidity needs arise. For one example, consider the story in this interview about needing a $2M bank payment. There can also simply be differing beliefs about the underlying option value -- maybe this contributes to his nickname of "Lucky Pierre".

It seems this happened maybe not every time but time and again, so I am inclined to think this is more than just because of specific conditions or just luck. Something more structural perhaps? Just guessing here ...

yes since I see that pierre sold 100k shares of FNV 27-03-2020

Boris, I really think it worth time to noodle your question and remark. I'd encourage u to google Dow to Gold charts and look some over... sometimes presented on log scale, other times linear; be sure to find some very long term ones that show two round trips to a ratio of nearly 1. Remember the time frames dollar was linked to gold and when the links were weakened and then broken. It's not usual to look at ratios of commodities, or at anything priced in different currencies. You might think of the charts simply as the Dow priced in Gold. What he could have yelled, is yes, you might think the gap between Dow and Gold should widen for exactly the reason you state. But empirically it hasn't. In fact it has round tripped to near unity twice in the last 100 years. Think about stock market valuations, bubbles and crashes. And consider circumstances in which the market may be out favor yet Gold very much in favor. The ratio charts illustrate just how profound the swings can be. I agree with the guest. Six months ago, although I was bearish on stocks based on valuations, I had a hard time imagining the ratio plumbing such depths again. Now, while it may not seem likely, I can at least imagine it is possible. I think its worthwhile to at least be aware such long term charts.

For over decades Pierre Lassonde HAS CREATED WEALTH from holding gold. Did you not listen to the comparisons with the Dow, Berkshire Hathaway, etc? Obviously not.

The comparisons to Franco going public recently (ie. to Berkshire Hathaway, Dow, etc including Raoul's introduction and the 18% compounded) are a massive understatement of the wealth Lassonde has created. What people need to understand is that from the early to mid 80s or whatever, from when gold was at a high of $800, to the late 1990s/early 2000s when gold was at $200 or so - a massive multi-decade bear market, Franco returned something like 30 to 40% compounded annually. Please don't worry about how much Franco Lassonde owns. In their early and later careers, Lassonde is on par with Buffett and Stanley Druckenmiller in terms of value creation.

Gold protects your wealth. Gold is an insurance policy on your wealth. Furthermore the producers actually dig REAL money out of the ground unlike the funny money the FED creates out of thin air.

Boris, here is a write-up I found helpful to understand exactly that question. https://www.lynalden.com/great-depression "In other words, central authorities can indeed “print” their way to higher stock markets, as measured in currency units that are less valuable. They can’t create purchasing power out of nothing, but they can divide that purchasing power into more units, and thus increase the stock market in terms of the number of those units."

Even if bitcoin is great for transfer, gold will still have value because people love gold

I own both, but more gold. I can show up anywhere in the world with an ounce of gold and there will be a market for it. I cannot do the same with bitcoin.

Bitcoin has been crashed in the current crisis, down 65%? It takes just one new law and bitcoin is worthless. The intrinsic value of BTC is zero. I do own BTC, for soeculation. But it will NEVER replace gold as the only currency and store of value.

Actually in one month BTC S/F will be less than gold

Your beloved prison coin will lead to the BEAST system. Sorry I want no part of that. Wake Up!!!

So true. "You can fool some of the people all of the time, and those are the ones you want to concentrate on."

Well most people don't mind if it's disguised as "we need it to save your life". Survival over liberties is primacy for most, if not all humans. I think the question then comes when the perceived threat to your life is low, how do people react to surveillance? Cambridge Analytica scandal, enacting of policies such as GDPR and the various fines that have been handed out by the European Union to the big tech players suggests a society that doesn't like intrusion. Yes, those were about data misuse, but who's to say govt aren't doing the same, even though it is being done in the name of national security?

Amen Andrea!!! Unfortunately the sheeple remain asleep being led to mass slaughter and we who are woke suffer.

Actualy at kingworldnews.com. Eric King has Pierre on from time to time. It's just not as long of an interview. https://kingworldnews.com/pierre-lassonde-3-14-2020/

The FED guy interview by Pedro had about 10 back and forths with Ed about this, and still no one can give any (good?) reason why not to do it. Here it would be immensely valuable for Mr. Lassonde actually talks about timelines and movements/seasonality, etc. I'm wondering, Timothy, and tell me what you think --- people may just wait and not subscribe since they can glean info here and there from "free" releases of the material, opened later to the public, such as on Youtube? I dunno, just wondering what the real resistance truly is.

Very good point Timothy, I believe the interview was recorded on April 9th 2020.

Exactly....RV what the heck is so hard about this? Come on already!!!!

Exactly....RV what the heck is so hard about this? Come on already!!!!

What's worse is that he (an unelected official) already acts like he is some Prime Minister of the world, with plans about what we "can and can't do" by such and such a time - right in your face and on most mainstream news and even internet Q and As! Everything about the man is disturbing, let alone his blatant disregard from even hiding any shady past, associations, and scary policy suggestions he has moving ahead.

Pierre is always great to listen to. However, very disappointed in that he did NOT do his homework on that POS Gates. Evil!!!! Very evil!!!

What percentage of his shares is that?

14.5%. Now he has 94M$ in share

Where are you gonna charge it in the city? In Europe and Asia this is a huge problem. A great majority doesn't have a garage or access to electricity at home to charge the car. We need a lot of development for mass adoption.

perhaps 8th or 9th April looking at the chart at the 37min mark...?

Effectively Bojo, Gates isn't a good guy: https://www.armstrongeconomics.com/?s=gates

Yeah, and Instagram will probably be gone in 20 years to a competitor, and gold will be around for the the rest of human history.

11/10 ; ))

He was probably trained to do so either formally or informally. I am also deaf and have been since I was child. I'm currently in my twenties. But I had speech training since I was six years old, looking at different people with different mouth structures, who spoke at different speeds, with different accents, etc. I was even trained to read lips on those who talked while eating candy or chewing gum or have a lollipop in their mouths. I suspect that the same is true for him. It also helps if you can hear a little bit. I wear hearing aids and use it guide me where lip reading verifies what I hear. This is why it is so important to be able to see someone face to face in these situations as it helps a lot.

Read his book about transformation. He talks about it.

Top of the app, "my downloads"? (for video & audio)

Not an expert there but Junior mining is highly dangerous. I’d go for a mining ETF. I’d also Google for Mr. Katuso Or listen to the TIP podcast

Just buy a basket of the top gold miners - you want big producers with lots of liquidity. E.g. Kirkland Lake Gold, Agnico Eagle Mines, Barrick Gold, Newmont Corp, etc. Agree with Chris T, juniors are high risk but high return if you pick the rights ones.

You could buy Franco Nevada obviously!

Generally, miners are very volatile and very risky. Unless you really understand the business just stick with GDX, in bull market all boats rise and it is good enough!!!!! You can split your money into small positions: NEM, FNV, AEM, KL , WPM GOLD, but taking extra risk with single mine is : TAKING extra RISK Juniors will do the best down the line next few years, but by definition they are the risk, no one will give 10x gain for free, so you ether buy etf or put speculative position with money you are willing to lose

I found this article interesting- https://www.lynalden.com/gold-stocks/

Yes, Lyn is a sharp cookie, I just saw her on Gammon's channel. Great stuff.

you can do the royalty names - Franco, WPM, Sandstorm. Really find Sand interesting on pullbacks. Watch the Ross Beaty interview and research his companies. Eric Sprott names - Jaguar Mining and royal Nickel for optionality. Wesdome - high grade. News on Kiena coming. KL - Fosterville and Macassa providing the high grade, lower life assets with the exploration upside and long life, low grade Detour.

Have a look at the IKN Weekly newsletter service.

I'm deep in gold stocks/ gold and PMs, and hold no BTC/ crypto as I feel its too risky despite the upside, but its easy to tell no government would want a currency they cant print to oblivion. Gold back yuan would eliminate all their control. Not sure why the gold fanboys have such a huge problem seeing that. Their either blinded by greed or too swallowed up in the pumper echo chamber.

I was coming here to say the same. But the thing is, everyone without vested interested in money printing wants a hard currency and agree on the same things. Usually the differentiating factor in between goldbugs and hodlers is how comfortable they are with technology.

The best evidence for your point is the comments these gentleman make about just in time inventory and how that idea is under serious threat for everything AND affects even their own gold market. e.g. 100 oz vs 400 oz, social distancing affecting physical movement, grounded aircraft affects not only existing bars but ability for miners, smelters to get gold out of Africa, etc. one might as well ask Wells Fargo to get their stagecoaches out of storage to help transport this stuff. Just in time physical inventory for store of value?! What a joke. One can transfer $10M in bitcoin in seconds, no phone calls, no metal assayers, no security guards, no kerosene fueled aircraft - trustlessly. In one month, bitcoin and gold will have virtually the same stock to flow ratio as a measure of scarcity. Two great guys but when the Millennials to Gen Z ‘s get their boomer parents wealth transfer, it will become MOIP Money Over IP (Dan Morehead quote) not investment in the time and space wasting storage and mining of gold.

It's disappointing these requests haven't been listened to. Interview dates are MATERIAL. Otherwise, great interview - many thanks to Kiril and Pierre.

For those from the United States SAND is the ticker. It's solid -- I agree. Then there's MMX, WPM, MTA, EMX, RGLD and OR, basically in that order by my preference. RGLD and OR are the only ones I don't own at least a taste of. FNV is my largest individual stock issue, and has been for years. One of the few precious metals stocks to keep going up and up, and it's done better than just about anything in this bust. Within a couple percent of its all-time high, presently. It's definitely "fully priced", but it's always been so good at what it does that it's the go-to "sleep easy at night" choice. It should be 5% of everyone's personal portfolio.