Honest Money: The Power of Gold in Monetary Systems

Stansberry Investor Hour

Stansberry Research

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4.4 • 677 Ratings

🗓️ 21 August 2023

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this week's Stansberry Investor Hour, Dan and Corey are joined by Keith Weiner. He's the founder and CEO of Monetary Metals, a gold investment firm. But first, Dan and Corey kick off the podcast by discussing the potential implications of stress in the bond market, and how bond yields have been showing signs of movement. Plus, they highlight that the yield curve could be signaling a recession sign. (00:00)

Next, Keith joins the conversation by sharing his beliefs on gold and the world's monetary system. He starts with his "origin story," describing how he founded and then sold a successful software company. Then Keith and Dan shift gears to dive into the current state of the economy. With three of the largest bank failures in history this year and the U.S.'s credit being downgraded recently, they discuss how this may be affecting people's attitudes toward gold. (18:34)

Finally, Keith goes on to share his insights on the debate of gold versus bitcoin. He emphasizes that gold's stability and millennia-long history of wealth preservation give it an edge over any cryptocurrency. While bitcoin has seen speculation and massive price fluctuations, gold's enduring stability makes it an attractive choice for conservative savers, even in times of economic uncertainty. (40:53)

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Transcript

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0:00.0	Hello and welcome to the Stansberry Investor Hour. I'm Dan Ferris. I'm the editor of Extreme Value and the Ferris Report, both published by Stansberry Research.
0:10.0	And I'm Corey McLaughlin, editor of the Stansberry Daily Digest. Today, Dan interviews Keith Weiner, founder and CEO of Monetary Metals.
0:18.0	And today, Corey and I will talk about bonds and bond yields and GDP and banks and all kinds
0:24.2	of stuff.
0:25.2	And remember if you want to ask us a question or tell us what's on your mind, email us at
0:28.7	Feedback at InvestorHour.com.
0:31.7	That and more right now on the Stansbury Investor Hour.
0:43.3	Bonds are so darn exciting, aren't they?
0:46.4	Bonds. Stocks and bonds. Stocks and bonds. Everybody loves bonds.
0:54.8	Yeah. Bonds are potentially very exciting because you know if there's stress in the bond market,
1:00.0	ooh, that's not good for equities. And, you know, as we speak here, the action in equities has been down down down to down, down, down.
1:04.2	Yeah, since this whole month, really. Yeah. Equities have been down. The bond yields have been doing things again, I would say.
1:13.7	Yeah, I tend to think more about spreads than yields. Maybe you should talk about yields and I'll talk about spreads.
1:19.7	No, I mean, yeah, I'm along the same lines as spreads. I mean, the 10-year treasury yield is back to where it was in October back of 22 when stocks bought
1:30.8	on and then also if you go farther back same level as 2008.
1:36.5	So showing that higher for longer environment is pretty clear, I think, to a lot of people now that the 10-year yields,
1:47.4	which is widely followed, is going where it's going. And then, yeah, the spreads, I'll let you
1:54.5	talk about. There's a lot, some interesting stuff going on there at the same time.
1:59.6	There, there is, but it's like really near term and really
2:03.4	not huge i mean if i'm looking at uh b of a you know high yield index a job index option
2:11.9	adjusted spread that's a lot that's a mouthful but it's it's the Bank of America high yield spreads, junk spreads.
2:21.6	You know, going back to like maybe July last year, close to 6%, well, 5.99. I'm going to call that 6%. But now below 4%. And, you know, I mean, moving a little bit lately, but not like, I don't see the
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