Honest Money: The Power of Gold in Monetary Systems

Episode #324 | August 21, 2023

Episode #324 | August 21, 2023

Honest Money: The Power of Gold in Monetary Systems

In This Episode

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. With more than a decade of experience running his company, Keith provides a unique perspective on gold, the gold market, and his firm's involvement in the space.

Dan and Corey kick off the podcast by discussing the potential implications of stress in the bond market. Corey observes that bond yields have been showing signs of movement. Plus, he highlights that the yield curve, which has historically been an indicator of recessions, could be signaling that one is coming soon...

This behavior has happened before every recession going back 50 or 60 years. I'm seeing some signs that more people in the market are preparing for that to actually happen.

Dan and Corey also address the recent performances of the Nasdaq Composite and S&P 500 indexes, noting that many stocks have fallen below their 50-day moving averages. Then, they explore the possibility of the market reacting positively to the Federal Reserve's messaging during the Jackson Hole meeting this week, considering investors are expecting a pause in rate hikes.

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. And he even shares how all his money was in cash when the 2008 financial crisis hit. Faced with the challenges of the broken monetary system and the looming crisis, Keith soon realized that gold could be a safe place to store his wealth.

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. As Dan notes, "It's the kind of time when gold is on people's minds." Keith reinforces this idea by emphasizing that all currencies are currently weakening against the U.S. dollar. He dismisses the notion that the dollar could collapse since all major currencies are, in essence, tied to the U.S. dollar...

The dollar is sinking in gold terms, while the other currencies are sinking in dollar terms.

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...

Gold is steady in value, not something that's going to skyrocket. If you want to skyrocket and generate an intergenerational fortune, owning gold isn't going to be that. If you have intergenerational fortune and don't want to lose it, gold is great for that.

Whether you currently own gold, are contemplating owning gold, or have never considered gold, this is a conversation you'll want to hear.