GOLD To $3,000 & SILVER To $130 - Here Is HOW & WHY?! | Eric Strand

everything below 3,000 is cheap so so that is important uh actually we said that some years ago uh because we use a very simple chart with the US depth and the fed's balance sheet uh and if you make this analysis gold was only expensive 2011 the balance sheet has been growing the last years maybe coming down a little bit but uh at now actually gold would only be expensive when it's over 4,000 so uh 3,000 I think it's not far away hello and welcome back to sore financially we discuss the macro to understand the micro my name is Kai Hoff and I'm the Ed Jr mining guy on Twitter and the CEO of the sore Financial Group and of course you're host on this channel really appreciate you joining us because we have a returning guest coming back and back by popular demand because in the comments you ask we shouldn't make him a regular so we are trying we're doing our best to bring Eric strant back on more regularly here um he's the founder over at auag funds in Stockholm Sweden and he was a keynote speaker at our conference sadly we didn't get a chance to sit down at Frankfurt it was just a busy busy event for me personally and we only managed to get a few interviews in not as many as I would have hoped personally but now it's time to catch up and uh we had him on in January I think it was January 16th or 15th we've we've chatted we talked about his outlook for gold and silver his outlook for 2024 and now that we're you know generously speaking halfway through the year it's time to to go check on those calls but also look at some of the key points he mentioned during his presentation at Doo go Messa some of his nine nuggets for 2024 he called him and I'm really looking forward to discussing those with him before I switch over to my guest hit that like And subscribe button and leave a comment leave a like it is tremendously appreciated so we can bring guests like Eric on getting your feedback means a lot to us and it helps us make a better program so without much further Ado Eric it is good to see you again thank you so much for joining me here r nice to be here Kai really nice thank you yeah looking forward to the conversation because it's a really important year and you know maybe this summer is quite important to you personally as well because the Olympics are at the knocking at the door and Paris Olympics 2024 and you have a bit of a personal connection to it and I couldn't find it on the website officially but you've told me and I found it on online as well but you're a former Olympian what what does this year mean for you Eric well I think I mean it's always nice to be at the Olympics but also you learn a lot about uh yourself when you are practicing so hard and actually what is good that you learn to lose because you're always coming back and I think that's a good uh property something good to have when you are in the in the investment uh sector as we are also in the mining sector really need to be have a strong nerves and strong stomach and to stay strong when it's tough or as we say when the tough when it's getting tough the tough gets going so that I think uh Sports is very good background to stay stay strong in this business and I think uh Olympics is very interesting I mean with the gold silver and bronze and and bronze is like 85% copper so gold and silver that's where we invest so I think it has a lot to do with what we are doing today as well yeah going for gold was the title of your presentation and uh you you you shared some of those factoids with us because the gold medal is not really gold anymore how how much of it is gold it's it's just the coding pretty much right yeah it's like six six grams of gold and the rest is silver so it's still has some good value and uh but up until 1912 it was pure gold so it changed after 1912 so uh that's also an interesting fact to know and this Paris Olympics also have the fact that there is one other metal on the metal and that's iron a piece from the tour of the Eiffel tour oh fantastic yeah that's that's the middle piece I think I've seen a photo of it right that's the middle pieces like just curious do you know where took it from like how you take a piece of iron out of the Eiffel Tower is just uh just curious maybe it's not so safe anymore they took some it's not wonky it's not wonky now fantastic Eric um you you gave a great presentation I told you right on the spot that we need to follow up on a few things but before we get to some of your nuggets for 2024 um we we spoke mid January so really before the market really took off for gold and silver in particular um let's set the scene here a little bit and maybe let's recap the last few months how how have gold and silver developed and why have they developed the way they have yes I mean we've made our call end of December for a 20% returning goal that would mean 2,475 and that looks like a high high Target but uh and especially in January and February but then later on and now where we are we have been already over 2,400 so now it's like almost a careful Target 2,475 and even the big Banks like Morgan came out in March with some uh more information and saying 2,500 so I think we are on the path of U maybe we have to put on new Target soon yeah City Bank called even for $3,000 within the next six to 18 months um you know curious like I had I interviewed Rob mun a while ago and uh actually spoke to him in New York as well just last week and uh his $33,000 call Gold call got so much attention online and everybody called him uh for a lack of a better term a lunatic for making that call right and and being crazy now the banks are using the same dollar amount and you calling for $3,000 gold as well like what what has changed Eric like why have why would why do we need to think differently about gold now well first of all I think 3,000 everything below 3,000 is cheap so so that is important uh actually we said that some years ago uh because we use a very simple chart with the US depbt and the fed's balance sheet uh and if you make this analysis gold was only expensive 2011 that's the only time when it was above this on this chart and uh now they put on even more depth uh and the balance sheet has been growing the last years maybe coming down a little bit but uh at now actually gold would only be expensive when it's over 4,000 so 3,000 I think it's not far away but let's talk about maybe that perfect storm or what what what happened in March and I mentioned it in another interview you go to Toronto you go to pdac the world's largest mining conference it's always cold it's always miserable and right after gold and the mining stocks drop right this time was the complete opposite uh it's by the way it's called the the treaded PAC curse it's just a it's usually a fact that that happens this time this year it was completely different gold went up the miners seemed to be running decently well so what has changed well I don't like to say that it changed because what of what the FED does but uh fortunately that's sometimes the the way it is and I think what they did do they haven't started lowering rates we still have that in front of us but they uh started with less QT and that means it's like a simulus on on the economy and they have also made it easier for the banks to to lend more money so and the monetary base is growing again so I think we are have a lot of stimuluses out there and we also see the government running big deficits in the US and even China wants to do something to get out of their hole so it's a lot of money coming out again in in the system and the market sees this and U so gold has been strong and it will be even stronger when when the rate cycle turns and the rates will go down again just in the last few days we've heard a few fed speeches and or fed members speak and they're actually turning quite hawkish like they're sort of reversing taking a step back say oh maybe rate hikes are still not off the table um would you agree with that and the other you know Part B of that question is like what would that do to Gold because we're we're hanging in there we're still trading around let me actually get the current price I had it open just a second ago um so gold is still trading at 2343 which is really strong still yeah first first of all I I want to say that talk is cheap so I and I don't think we should listen too much to it and actually I like the periods in the old days when they didn't talk they just made their job now they've been talking so much so they don't even know what they are saying I would say so don't listen to them too much I mean and of course why should they say something else than that they can raise the rates so I think and I also think that the narrative that they will lower rates when inflation is down is not the right one even if many believe that I think the rates will come down when we get some more more problems in the system and we will see or we are starting to see these problems crack and the system cracking because it's just too much money too much high costs to pay the debt uh as it is now so I mean we have so much debt and we have rates that are higher than they have been and that's a big problem for a lot of people for a lot of companies uh it's only liquidity that is saving the system so I think they were low rates but not because of inflation coming down but because they have to save the financial system let's just get a little bit more granular on those cracks that you're seeing I'm just curious because I'll try to keep track of it as well when I open the newspaper in the morning what should I be attention to pay pay attention to Eric well what I I think is interesting that is that I mean I only read about layoffs in the big companies uh I don't see that they are having much more employees but the job reports I mean there is no no nobody's unemployed so that's very very strange where are the jobs really coming from uh so I think the statistics are not really correct there out there and uh also I think we see a lot in commercial real estate I think that's maybe where we see the most problems as of now and that will spread of course so I think somewhere there it starts you never know where it starts but uh that's I think is is a place I mean you see a lot of real estate selling for very low prices in the US they so they have a lot of problems there yeah I personally was expecting that maybe the ever grander crisis in China was maybe a bit of a trigger but it didn't seem to have spiraled out of control because there are a lot of uh uh International debt holders in that company and I think that was a 300 billion dollar Wipeout quite little yeah and exactly and one day it will be but we still see I mean liquidity saving the system so and I think of course they will do anything to to save it but one day it will be just just too much to handle for the system and then of course the central banks will be there to save the system so they will be there the white night again even if it was a problem that they may s they were the ones who created it by going too low and then too high and then too low and and so on so so I think uh they should be more stable they should maybe be not lower the rat so much as they did they shouldn't hike their rates as much as they do so they're a little bit uh behind the curve I would say I got a little bit ahead of myself mentioning The Perfect Storm because I threw all factors that I consider into into one pot really meaning geopolitical maybe technical like chart just just chart pattern for gold as well but also macro reasons and I don't know based on Europe like what is the main driver behind the gold price right now would you say it's geopolitical is it the macro front is it just technically driven like what's the main driver for you Eric well number one is for me is the monetary inflation going on there I and you see the US uh deficits at 6% last year and maybe 8% now for the large largest economy in the world and then of course you see the de globalization you we see central banks buying so much gold 2 since 2010 2022 was a record 23 was almost the same as 22 and the first quarter of 24 is the highest quarter first quarter ever so they are buying a lot actually retail ETF investors have been selling and for me that's still a positive because that means that the buying power is still there for gold to go higher so I think maybe the I mean confiscating Russian assets right or wrong the problem is that you create an uncertainty and we see maybe China if they have want to do something with Taiwan you never know know uh why should they hold us assets and risk whatever us would do then so I see a lot of bricks countries very interested in having more gold so that's that's a big buyer the ETF buyers have not been there and as I said that's a good one because they can come in and buy even more and and follow the price so that looks really really good and then also we have this uh very new phenomena that the big ones or half big companies they don't want to to buy explorers they they just buy already producing companies which means uh things are happening in in the sector with the mining companies but there are no really no new production when they buy an already producing company so no no extra gold or silver will come in the market in the coming years which means that will take the prices higher especially like we were seeing an example today and we're recording this on Wednesday May 29th today is deadline day for the fourth offer from BHP for Anglo so talking about just uh not not replacing or renewing or adding um new new production it's just uh we're we're buying cash flow we're not buying anything new we're not adding anything new to to the market right and that's what we're seeing in the copper space right now without without going too too far off topic here no I think I mean that that's also in in in the gold mining I mean the gold miners have been buying other rather big gold miners so so there is no big uh no new gold and uh this may be wrong but I think this is what will happen in in the first coming years two three years uh so it will take some time before the money goes down to the really small companies I think no fantastic let's put a bow around that because I want to throw in silver into the equation here now as well Eric and uh you you made a silver call because you said well if gold goes to 2475 that's your 20% Target then silver should go to 35 because you're looking at a silver to gold ratio of 70 to1 where are we in on that forast how is it developing well we're getting really close to 35 already so I have to raise that Target as well I guess uh and that's I mean the reason is we have had a gold to Silver ratio at the 85 90 to1 for a long time now uh even above that and we think it's it's time when the secular bull market starts for pressure metals that we think started in 29th of February here the long one and uh 71 71 is our first Target and we think it will go down much lower normally it ends a bull market for precious meth maybe at 30 to1 uh we we think we go there but even lower maybe this time so there's a lot of potential in silver I mean 16 to1 is is the natural occurrence in Earth so and this time actually we think as silver is so crucial in the electrification and Hightech world and totally uh it's I mean indispensable in the industry we think it can go to 10 to one or even single digits so and u 10 to one or 30 to1 and a 3,000 gold price I mean already at 30 to1 that's a $100 silver price so a lot of uh room for silver to move I was going to say like let's elaborate on the part like why silver should move we had Chen Lin on earlier this week and he he dove into like the solar solar panel specifics and gave us some Market data there as well um you believe that the silver demand is driven by by the industry mostly meaning the EVS um you know the electrification of the world well first of all I think I mean silver is so amazing because it's the only metal I mean we love all metals but silver is is like the only metal that where you have both investors and the industry competing for for the silver I mean in Gold 10% is for High-Tech but 90% is for investing or jewelry and in Copper it's only industry so silver has a very unique position and then silver is the metal that leads electricity and heat better than anything else and uh so you cannot do actually anything without silver it's the second most used commodity in of the world after oil and but but what is interesting you use so little I mean in a car you use a normal car you use 20 gram of silver but an EV you need 35 40 grams of silver so it's not much more but you need it and you cannot produce the car without the silver H so it's not about solar panels you cannot do anything without the silver but still it's so little so even if the price goes up 100% 200% 300% 400% it won't change the price of the end product or the car so the and when we start to get a competition for industrial silver I mean prices will just fly uh on the investor side I mean you can put on coins and so you put on premiums and that I mean makes some people start to buy less maybe but the industry they want to have they can't produce the car without the silver and when they start to compete when it starts it would just fly and it will move really really fast and uh it is already too cheap because of what has happened on the comx and it's so bad with the manipulation that has been going on but on the other hand for people coming into the Investments seen here now that's a special opportunity onetime opportunity that the prices are so low and pushed down and they are much lower than they should be but again it's an opportunity today if you haven't already invested it's an opportunity to to get that extra returns I I just looked at the gold silver ratio and personally like I haven't paid too close attention to it but we're down to almost 74 and or 74 74 a half right now which is quite impressive and uh the reason I sort of missed it it was a really busy May for me but uh it only started in early may like we were trending around that 85 to 87 level maybe to to degree 90 um exchange ratio for the longest time and then it broke down did you make out a single trigger for that or is that just the market is catching up to what gold has been doing no I think everything is is talking for silver I mean the only problem we have is is the comx uh positions because uh some short players have been going short all of this so they have been I mean they have unrealized losses of above 20 billion US Dollars and they are fighting uh with everything they have to get the prices down and they have a problem to get the prices down now and so they can buy back their shorts uh and they have been doubling down uh on the this so they are even more short so this is very interesting what short term this is very interesting what will happen to the price because if they can get the price down if they can get the speculative long ones to sell get the price a bit more down and uh slowly buying back their shorts we we may see that we have seen that before H but on the other hand silver still goes up uh I mean it went up on Monday went up on Tuesday even if they tried to get it down uh and if they don't succeed and I don't think they have the biggest names with them now like before like TP Morgan so it's big players but still smaller than the the big really big ones and that's their soft spot now and if they have to give up and start to buy back I mean that would make prices fly so it's a little bit of a binary situation right now in short term if we if they will succeed to get the prices down a little bit or if it will just fly from here so it's very difficult to be out of the market but you have to be able to to survive a short draw down or correction from here no fantastic excellent insights here I just want to share this graph with you here oh and let me get that symbol search out because I prepared a bit of a graphic I hope you can see it Eric but it's gold versus the GDX gdxj I'm not sure if you like it's I'm I'm try just trying to make a point like gold has moved about 15 15 and a half percent year to date here um you know the GDX uh about 19% and the gdxj 23% um you you would think in in an environment like this and maybe that sentiment speaking um you would think that the miners and the stocks would move maybe a bit more violently um but but they really haven't yes they're they're playing catch up still to the gold price it feels like but it's not drastic outperformance like you would expect like the 15.5 to the 19 is uh you know for for that risk premium or for the increased risk you might as well just might have bought the gold like why why bother Eric and why why are the miners lagging behind uh well I don't I don't think they are I mean our civil bullet fund has performed really really well and uh I mean if it's 40% or whatever uh so I mean you you see the right side there it has done a lot uh lately so U and this year so really really strong performance from our miners but of course they are focused on on Silver uh uh so there are good returns and I I think they do outperform the commodity itself and we will see more of that for sure no because there has been I think it's because uh I think the space is so cleaned out so whatever comes in are Str strong hands very interested investors uh so it's it's a good clean situation people who wanted to invest in in the commodity itself gold and silver they are there the people who wants to invest in miners they are here now so I mean we have had this for 10 or 15 years that maybe people who were invested in mining but they wanted the gold but now they can invest in gold etcs and ETFs so they have done that so we have a clean out and uh I think that's a very very good spot to to enter the mining sector yeah Monday I was in New York sitting in my hotel room in the morning preparing my presentation for a conference I was attending and uh I was watching Bloomberg surveillance in the morning and the only talk was about Golden copper it was absolutely crazy there's uh absolute Euphoria and then in the afternoon I I caught a glimpse of ET I think the the segment was called ETF IQ or something like that and uh let me see if I still have it open yeah I do it's um I want to share that real quick it is inflows into the um gold ETFs let's make that a little bigger so people can see it and let's accept all the cookies of course but um my point is like GLD saw a weekly inflow of $510 million and the gldm which is a smaller portion of it uh another almost $200 million so massive inflows into the ETFs uh in in the US primarily so um is that the beginning of a new trend Eric is like has the have the floodgates opened now I think this is the what I said before this is the opportunity as well for the price because they have been sellers in these ETFs for a long time uh when the central banks have been buying and now they start to catch race and so there's a lot of money coming back into the ETFs and of course that will take prices higher so it's again it's a good spot uh for the for the price because if if we had had inflows for a long time I mean there wouldn't be so many new investors or new money coming back into into the ETF so again it's it's a good thing that they haven't been big buyers for a long time now it's starting yes yeah well I think that's what's prepping up the gold price right now and keep keeping it where it is I believe so uh no that that's good to see um Eric we need to talk about your presentation in Frankfurt now long long long intro to to it and we need to talk about the nine the nine nuggets for 2024 and uh maybe we'll pick two or three out of them but to to discuss I'm going to share them on the screen here all of them we're going to give some of them away because one of my favorite one is actually the first one um that that we'd like to discuss and I'm curious if that's possible a couple of them we already discussed like the last one gold to 4,000 gold silver ratio um but let's talk about from Price takers to price makers it reminds me a bit of the OPEC cartel and uh where we control production to regulate the price of gold H how realistic is that nugger for 2024 Eric and uh what is your thought process behind that one yeah the thought process is that I really realized that the miners are bit I mean we're like to too week with a price and comparing it with the Apple making the iPhones and and they are price makers and that's such a big Power because they they they set the price and um people have to buy the phone or want to buy the phone and uh in in the metal mining industry it's just the opposite they are just price takers and uh somehow this has to to change that the miners get uh act a little bit different I don't know how how it how they should solve it but they should start to to really think about this how to become price makers instead of course in a market uh where you have I mean if it's a physical shortage that starts to get interesting and we can see that in in Sil silver and copper in Gold it's maybe harder to get a physical shortage as there is a lot of gold still in everybody's hands so um that's where I think they have the most biggest possibilities to just uh become price price makers of course one one possibility would be that instead of holding too much cash if they don't want to spend it on new projects or buy up developers I think that would come in the end the really really small companies will have fantastic returns but on other I think it will may take a little bit more time this time because the miners as I said the larger ones they buy rather by producing mines at the moment but in some years that would change as well and then that would be the time for the really small companies I think uh but the big ones I mean they hoard if they hoard cash uh I mean they could hoard it in in Gold if they believe in in what they are digging uh they could hold gold instead of and not selling it to the market for for any price so I think that would be would be a possibility and I mean we see some companies doing this keeping their silver tight instead of holding cash yeah that's the the second the second nugget you you've shared here with us Eric is the excess cash if not buying assets then buy some gold and silver you know the question is as well as like maybe on the first nugget real quick I'm going to come back to the second in a second um do do you think it would shift um production north to south meaning from high high cost countries down to uh you know I don't know Africa or lower cost lower Capital intensive countries like would that destroy the marketplace no well I I think I mean uh now it's very interesting I mean jurisdiction anyway has come up uh much higher on the list uh so it it's really interesting where where to mine what to Mine how to mine and and don't forget I think this is what is really interesting now because the costs went up uh the margin expansion from now on for the miners is explosive so I think that's why we see we see the miners go up so much and have already started since since March April uh because of so because sometimes it's good you if you have a minor with high cost you always think you want to have a miner with low cost but in a price a strong price and price going up I think you will have even more effect leverage on the on the miners with high cost so it's not always the best to have miners with the low cost it's safer but it's not always the best for in the Investments returns yeah it's that optionality cost I think as well and the margin the margins can expand quicker meaning the share price can explode uh rather more more violently and I think I think that happens on all companies at the moment because uh cost went up for all companies that was a drag that's why the the performance for the miners dragged after the commodity price uh so now the cost okay they are there they are stable and now when gold continues to go up the margin expansion is more much more explosive and uh that's very very interesting uh coming and I think that's what we will see in the returns as well yeah um let's talk about the second nugget excess cash they should buy some golden asset golden silver maybe or even hold back production like like how realistic is that like um let's talk about the financial position of those companies but also then um the market impact like I know a couple of the silver companies have tried to do that um a year ago year and a half ago um to to sort of help suppress the market a little bit and push silver prices higher but how realistic is that maybe for gold it's a it's a much different Market isn't it yeah uh what what I do see maybe with gold is uh that I mean there has to be some more even more pressures on refiners that the gold is sourced in in the correct way that where is the gold coming from so that the real good miners uh can have even another price than than gold that is coming that is illegal gold or whatever it is so some structural changes there I think is is the beginning maybe okay no I appreciate you clarifying that Eric and uh you know really interesting nuggets I have one last one I'm going to follow up with you here is uh the two times leverage and the timing as uh especially for European investors because I'm based in Europe but what's my special Advantage here Eric it's that it's that third one from the bottom yeah yeah I I I love this one and it's maybe it's easy and complicated the same way and and I like make a small example and that is if we have a a return for gold at 20% in US Dollars and we let's say we have a two times leverage for miners that's just an example I mean it can be one and a half it can be three but two times so that would mean a 40% uh return but still it's a 2 to1 uh return for the US investor let's say that the US dollar will lose to the euro when the FED starts to lower rates and U let's say the dollar is 10% then investing in gold for European investor I mean gold returns 20% in US dollars but you will lose the 10% on the FX so you will sit with a 10% return still not bad but it's 10% and not 20% in Europe if you count it in your Euros uh what happens with the miners is that the leverage they have on the price it happens before this FX effect that means the gold was 20% in us the minus 40% okay so we get 40% but then we lose the 10% again on the FX uh so we have a 30% return and of course that's not bad as well but the interesting thing is the factor for the European investor is suddenly 3 to1 30% vs 10% and this happens when the dollar goes down H and the opposite opposite effect is when the dollar goes up and but the dollar normally goes up when the the rate hike cycle starts going up and the FED are normally always the first or the strongest player and we saw that the dollar went up when they started to raise rates uh normally the FED they may wait a little bit but when they start to low rates they are also the most aggressive doing things more powerful uh and we can also see that the dollar may lose some of the premium testes a world Reserve currency because of what the things what is happening in the world so we see a case it hasn't happen really yet but that the dollar will come down and Euro will be stronger so at that point it's even more interesting to invest in gold or silver miners than in the commodity in the beginning of the rate hike cycle it was the opposite now is the time uh this doesn't change for a US investor I mean they are in dollar it's already there it's 2 to1 The Leverage and nothing happens but for a European investor it time is for the miners now to invest especially since the ECB might cut in June right which I think might actually make the Euro a bit stronger so there's some additional leverage because uh I don't know if it will make it stronger but I think the market will uh in the end the premium of the dollar will come down and that's the thing and then which which central banks that lower rates first or not that's that's their own game and if they do it to have a soft currency so they can export I mean they think about so many things uh whatever whatever and U I think the dollar has had its strength uh of course it has some strength it's it's the big currency it's the least bad one in in the classroom but still the premium is uh losing its power of the dollar and U also the rates like it will come down and the dollar will lose something I mean not very much but maybe at least 10% and that would be so that's why it's so interesting for European investors in invting in the miners if you're going for the returns and then do it now no perfect time is now Eric um excellent discussion on gold and silver but I want to use the last few minutes here maybe talk about other Trends you're witnessing right now is there anything else any other metal or any other Global dren Trend that you're following that is worth paying attention to yeah I think I mean we have been speaking a lot about about the green transformation or transition uh that hasn't been so popular lately but what is there is the electrification and nobody's arguing about that and we see even the AI Mania will need so much copper and silver to run these computer centers so again it's the metals that lead electricity and I say leading uh and that is copper and silver we have the battery Metals but they have been in trouble because you see ev cells going down or not going up anymore and so on and you can have a new technique for new batteries and so on so there's a lot of competition a lot of things happening prices can go down a lot they can go up a lot but it's very difficult to to handle uh so leading electricity electrification is coming AI is coming we need more copper and silver because these are the two metals that are leading uh electricity the best and of course silver is the best but it's maybe too expensive to use copper so I think copper is really really hot as well okay you just reminded me of a question I meent I wanted to ask you before as well um you sort of answered it but I I I just want to drive the point home maybe and just get clarified is is gold at $2,400 too too expensive and is silver too expensive or $32 and I do mean optically like not maybe fundamentally but optically especially for the retail investor when you buy a coin or silver for $32 does that uh is that too expensive or what do you think like how do you put that into perspective well uh I think it's it's it's very very cheap actually so so U the only thing that can take prices down that is bit difficult is the situation at the comx uh so we are far away from Silver being having a a fair price correct price so it's still a good opportunity uh I also like maybe we said copper but I think I mean uranium nuclear has been a bit soft lately but I think that will come back as well so that's also an interesting metal no fantastic Eric uh when are you going to update your forecast report and when do you have to adjust and when will you adjust your your calls for the rest of the year well actually we we don't want to do for course I mean we are long only fully invested all the time we don't time the market uh I mean we would like to have a sound econom system but we know we don't have money printing would be there monetary inflation been there the US dollar has lost 98% of its value it will lose another 98% of its value in the coming 50 years again uh so because that's the way politics is working you it's much easier to print the money than than to do a good good sound financial system uh we have to understand that and accepting that maybe that that's the way it is and then that's why we need gold and silver in our Investment Portfolio so forecasting it all depends on how much money and how fast they printed and how much problem they think they have to to solve uh with that uh liquidity so that's that's the way I mean gold is gold and silver is silver and it's actually the currencies that are losing value because we just have more and more of them out there oh fantastic Eric where can we find more of your work good no where can we find more of your work where can we follow h of course you have to visit our web page uh AAG funds.com there you of course you can great to our monthly letters they are very rather short we try to have some different topics of course for free and uh you can also see look at our funds as well but uh go on our web page we are very U open we are very uh transparent having all our Holdings on the web page on on our funds uh and we think that is the future for fund management to have a very clear investment philosophy fantastic Eric really really appreciate your time it's always good to see you my friend and I can't wait to have you back and maybe in September October and see how the rest of the year is going and how your calls are playing out and maybe you've put out an update forecast in the meantime so we'll see about that fantastic Eric thank you so much and to everybody else thank you so much for tuning in tremendously appreciate you watching us here sore financially where we discuss the macro to understand the micro leave a comment leave a like do we ask the right questions does this does this conversation help you understand the markets better it's really important for us to educate not just on the macro side but also on the micro and for us micro means the Commodities gold silver in particular of course we look at Copper some of the other metals but also the mining stocks so so let us know and we tremendously appreciate your feedback so thank you so much for tuning in we've got lots more coming up here on sore financially thank you so much for tuning in we'll be back with more

Channel: Soar Financially

Views: 26,652

Keywords: gold price, gold stocks, kai hoffmann, stock market, soar financially, silver price, gold investing, mining stocks, gold price today, gold price today news, gold price forecast, gold price prediction 2024, gold price 2024, eric strand, silver price prediction, silver price news, silver price manipulation, eric strand silver, eric strand gold, auag funds

Id: Sk9Sll1i4mo

Length: 40min 25sec (2425 seconds)

Published: Sun Jun 02 2024