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Macro Voices

All-Stars #43 Luke Gromen: Central Banks Ditch Gold-Buying Agreement (But keep buying gold)

Macro Voices

Hedge Fund Manager Erik Townsend

Business, Investing, Business:investing

4.83.4K Ratings

🗓️ 9 August 2019

⏱️ 17 minutes

🧾️ Download transcript

Summary

All-Star Luke Gromen weighs in on why central banks dumped the Central Bank Gold Agreement but keep buying gold hand-over-fist. Great interview! Link: http://bit.ly/33p8Ld2

Transcript

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0:00.0

This is a special edition of Macrovoises with hedge fund manager Eric Townsend.

0:14.2

The premier financial podcast targeting professional finance, high net worth individuals, family

0:19.8

offices, and other sophisticated investors.

0:23.0

Now for this special edition of Macrovoises, here's hedge fund manager Eric Townsend.

0:29.9

Macrovoises All Stars Episode number 43 was recorded on August 5th, 2019.

0:36.5

I'm Eric Townsend.

0:38.1

All Star Luke Gromund is back with us today and this episode of Macrovoises All Stars

0:42.8

is brought to you by toptradersunplug.com, the only podcast dedicated to quant and rules

0:49.1

based investing.

0:50.6

And right now they're offering Macrovoises listeners a free book called The Many Flavors

0:54.6

of Trend Following.

0:55.6

I'll tell you how to claim it at the end of this episode.

0:58.8

Luke, what got your attention this week?

1:01.0

Yeah, something that happened two weeks ago, Eric, that we think may be a really important

1:06.1

macro data point, but which was seemingly ignored by most US macro analysts, which was,

1:11.0

and the headline said, as market matures, central banks conclude that a former gold agreement

1:16.2

is no longer necessary.

1:18.3

This headline hit on July 26th.

1:20.5

Then take a step back.

1:22.6

When we were in London last back in January, we had heard rumblings at that point that

1:27.2

the central bank gold agreement or CBGA would not be renewed in 2019 for the first times

1:33.8

since 1999 reception.

...

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