The Central Banks’ Last Stand

Published on
July 29th, 2019
Duration
37 minutes

The Central Banks’ Last Stand

The Expert View ·
Featuring Greg Weldon

Published on: July 29th, 2019 • Duration: 37 minutes

Greg Weldon, founder and CEO of Weldon Financial Publishing, lays out a bullish case for gold based on a series of macro indicators. He believes that a looming recession will force global central banks to react with policy moves that will be overwhelmingly positive for gold. Weldon views gold as a great hedge against anything from a normal recession to a worst-case scenario. Filmed on July 16, 2019 in Jupiter, Florida.

Comments

Transcript

  • JM
    Joe M.
    16 August 2019 @ 11:51
    Excellent - Never heard Greg before
  • RK
    Roderick K.
    16 August 2019 @ 07:54
    Great to see another presentation from Greg. I remember the first time I watched a presentation from Greg. He came across as a colorful individual. His energetic presentation style made me ponder if he was more into short-term trading than longer term investing. His presentation style made me think he was trying to sell his story or talk his book. And his physical appearance initially came across more as a pit/floor trader (no offence) instead of a long-term portfolio manager. I was wrong! Greg has delivered great content in his presentations including this one. He is to the point, often spot-on, and tries to simplify the narrative, sometimes using hyperbole to do so. Additionally, his presentations often contain a high amount of possible trade ideas.
  • RY
    Roy Y.
    2 August 2019 @ 10:04
    Superb - super engaging!
  • PB
    Pieter B.
    2 August 2019 @ 03:24
    I love your presentations Greg! Massive thanks!
  • CA
    Craig A.
    31 July 2019 @ 13:09
    Love this guy. Talks straight, and brings the narrative to an easy and understandable viewpoint. If anyone hasn't checked out weldon live try it out. Its costly at $2k a month which is why I didn't sign up, but he offers a month free to any new people.
  • JE
    James E.
    30 July 2019 @ 22:31
    Great insights, from a great guy. Thank you Greg and RV.
  • fT
    forecast T.
    30 July 2019 @ 21:28
    Soybeans are a dumper crop. Consumption is through the roof year over year. Makes sense we all eat sushi.
  • NI
    Nate I.
    30 July 2019 @ 20:20
    Thanks Greg. Always good to hear your views. As long as the BLS makes hedonic adjustments to their numbers, inflation will be low forever no matter what the reality is. This is such a whopper lie and central banks just keep repeating it over and over hoping that people will believe it. The CPI measures nothing. The reality is that the cost of living is rising at a 4-5% clip (you can see it in the same store rent increases on the REIT income statements, the insane spiral in healthcare costs and in many other places). I think inflation has gold running up because real returns on bonds are very negative and heading lower even in the US, much less in Europe and elsewhere with NIRP.
  • JC
    John C.
    30 July 2019 @ 19:50
    Good stuff from Greg as always
  • GB
    Gary B.
    30 July 2019 @ 02:09
    The ECB QE on steroids what if train of thought was valuable insight. Thanks!
  • KR
    Kenneth R.
    29 July 2019 @ 23:47
    I just drove across Neb and Iowa. I saw lots of Bean fields that were exactly what greg suggested "Ins plantings" that have no hope of yield. Not scientific but beans will ramp soon. Corn looked ok.
  • SA
    Stephen A.
    29 July 2019 @ 23:38
    I am not sure why RV feels that they need to throw the Boiler Room guy out to sell Gold.... That would normally be a a contrarian indicator to me.
  • DL
    DAN L.
    29 July 2019 @ 23:06
    one question I have for fellow RVers: Gold prices did respond positively to the 2008 crisis, but there was a significant two-year delay before reaching its peak (~2011). Given the scale of the downturn, why wasn't there a more rapid increase in gold? When the next recession comes, should we expect a similarly laggy response in gold prices or is it feasible we get a sudden explosion, like what happened with oil in summer 2008?
    • AR
      Anthony R.
      30 July 2019 @ 00:14
      When the SHTF in '08, most investors, if not all, investors had never lived through that type of crisis and central bank response. We didn't know how to interpret it/respond, and so the lag was there. Now, many of us understand the game and recognize the music when we hear it. That's why gold is up before the first loosening.... we see it coming....
    • JH
      Jason H.
      30 July 2019 @ 02:01
      EVERYTHING was priced for perfection going into 2008. Margin calls saw all the good trades sold down to cover exposure. The high amounts of leverage saw everything go under the bus at first because survival was the number one order of business. This time around gold is relatively under-owned so while we will probably sell of it will not likely be to the same degree. Also this time the drivers are different i.e. exogenous to the US.
  • VS
    Victor S. | Contributor
    29 July 2019 @ 19:49
    Greg is ALWAYS among the best of the best!
  • NR
    Nelson R.
    29 July 2019 @ 17:50
    Greg is the guy who carries the M-60 in the RV platoon. Great insights, great energy.
  • MS
    Matt S.
    29 July 2019 @ 17:25
    Greg's a good one. Wish I could afford more gold right now.
    • MK
      Michael K.
      29 July 2019 @ 22:59
      Calls on GLD
  • MS
    Matt S.
    29 July 2019 @ 16:26
    The dollar isn't even an IOU anymore. It's nothing, other than legal tender. The Fed made sure of that long ago. They know what they're doing. They're not failing. This IS the plan, it always has been. Sorcery at its finest...
    • DR
      David R.
      2 August 2019 @ 21:17
      Then 300 million people will be out in the streets rioting and smashing society with a vengeance. That's why US has armed all its police forces with hollow-point bullets, automatic weapons and military grade weapons capable of killing millions in a minute. And they will do it, too.
  • CD
    Chris D.
    29 July 2019 @ 16:14
    Greg W - the best in the industry.. and the most entertaining as well!
  • TS
    Taranvir S.
    29 July 2019 @ 14:41
    Love this one: power grid is out; your bitcoin is out!
    • KW
      Ken W.
      29 July 2019 @ 16:29
      I don’t understand that argument at all. If you’re that risk averse why are you even in the market? You’d need a world wide power outage for bitcoin to fall offline, but even then there are satellites running nodes for redundancy
    • Br
      Bj r.
      29 July 2019 @ 16:43
      Your fiat, food, water etc. as well.
    • SB
      Stephen B.
      29 July 2019 @ 19:48
      You are 100% correct. I was a power grid executive and people do not realize how much at risk the power grid is to a (natural) solar CMP or (man made) EMF type event. The big CMP event was in 1859 (the "Carrington event"), which then took out the fledgling telegraph system. What people do not realize is that the power grid (in any country) is extremely vulnerable as: (i) it was never designed to withstand a CMP or EMF type event (as the risk was deemed too remote); (ii) should such an event occur today, the power grid could be down for years, not days, as the vulnerable node points are the power transformers, which even in good times require 12 to 24 months to manufacture and ship (from China or Korea - they are no longer made in the US or UK). If the power grid is down then the internet is down - backup power is primarily diesel and can only last for a few days. I do hold bitcoin but i will not go all in because of these considerations. factors. Consequently i primarily use gold as the ultimate store of wealth.
    • KW
      Ken W.
      29 July 2019 @ 21:19
      Am I missing something because the fragility of infrastructure sounds like a bigger issue for the markets that are geographically concentrated? Bitcoin’s distributed network seems to be more resilient. I mean, I get the argument if the only way to invest in gold is to physically own it. But most investments are done electronically.
    • KW
      Ken W.
      29 July 2019 @ 21:29
      I'm asking because I think I have a fundamental misunderstanding when people keep using infrastructure outage as a serious risk to bitcoin. ARPAnet was developed as a redundant data store in case of an attack. Bitcoin is another distributed protocol. If your investment thesis accounts for infrastructure risk, it seems to me every single asset Greg is bullish on is at risk
    • YW
      Yowshi W.
      29 July 2019 @ 23:07
      Ok so we advanced our tech to this point such that we look forward so much to a power outage
    • SB
      Stephen B.
      30 July 2019 @ 18:00
      Let me add something to my comment above. A prolonged power and internet outage would, of course, not just effect Bitcoin but the markets, banks, supermarkets, gas stations, media - just about everything that we associate with modern life. You could therefore argue that Bitcoin should be no more discounted (for this infrastructure risk) than - say an ETF. Fair point. Lobby your Congressman if the risk scares you - it does me. They have known about it for years and done nothing about it. That is why i am happy using Bitcoin as a trading vehicle but not as a store of long term wealth. Hopefully, even in the mayhem of a prolonged power outage, i can access my store my gold, which is why i consider it a superior store of wealth.
  • yc
    yu c.
    29 July 2019 @ 14:08
    All eyes and ears as always. Thank you!
  • TH
    Timo H.
    29 July 2019 @ 09:15
    Excellent analysis once again from Greg. To me, the big picture seems to be, that the spin doctors of the central banks are treating the type 2 diabetes of the economy with strong opioids. This does not necessarily end well.
  • IH
    Iain H.
    29 July 2019 @ 08:05
    Always great. Clear, confident and informative.
  • VH
    Victor H.
    29 July 2019 @ 06:26
    Clear, precise and straight to the point. I've enjoyed all Greg's contents on RV. KEEP COMING!!
  • HH
    HODL H.
    29 July 2019 @ 05:33
    Kenny Powers, this dude always has great interviews, look forward to watching
    • SD
      Steve D.
      29 July 2019 @ 10:43
      LET. The BOY. Watch.