We met with Rafi Farber, a student of Austrian economics to discuss his views on COVID, currencies, gold, gambling, and more. We discussed the following topics of interest:
Bank of Israel's decision to print more money to combat inflation which led to the hyperinflation of the old Shekel;
Restarting the Israeli economy by indexing prices to the dollar, issuing a new Shekel, and stopping the central bank from financing government spending directly;
His conversation with his father on the inflation and currencies as he grew older;
Finding Austrian economics after listening to Ron Paul in 2012;
Open interest on the COMEX futures exchange in New York, and why more traders are likely to demand actual physical delivery of gold;
The value of physical gold ownership versus some gold ETFs if you believe the dollar will eventually collapse - the GLD will not have any true value in that scenario;
Why the dollar is not money, but a gold intermediary (implying that gold is actual money);
Ownership of gold stocks is a title claim to real capital, while ownership of the GLD index isn't because non-institutional investors cannot demand physical delivery;
Picks mining stocks based upon jurisdiction of the mines and company balance sheet healthy;
Best ETF if you cannot get physical gold right now is the Perth Mint Physical Gold ETF;
US China trade relationship - US exporting inflation and China's old mercantilist economic beliefs saddling them with US treasuries in exchange for real goods;
The current US/China trade system must collapse as China eventually rids itself of US debt, causing a new gold standard and change in economic policies;
When the dollar falls, all other currencies will fall;
Calculating US must spend $100 trillion to make up for GDP falling 40% per JP Morgan's Q2 2020 estimate, YoY;
How COVID-19 caused casino closures and is driving gamblers to online outlets;
Cambodia's monopoly on the gaming market;
How Caesars stuffed bad assets into a shell company and stuck equity holders with the fallout;
He wrote articles warning Carl Icahn not to support El Dorado buying Caesars and the subsequent share price crash after it happened;
Bad debt yield attracting investment and how this is a sign of debt market collapse;
Bankruptcies are the cure to bad debt, and government's choice of allowing them to happen or the other path of hyperinflation of the US Dollar.
For more interviews by Robert Kientz with financial experts, you may visit https://goldsilverpros.com/
