Chris Irons: Gold, Miners, and Guns – Why Governments Will Want All Three
Tom welcomes back Chris Irons, host of the Quoth The Raven podcast, to the show. A note of caution, Chris takes the gloves off in this episode so some swearing ensues.
Chris is concerned that China is challenging the United States as a global superpower and they probably have more gold reserves than they publicly acknowledge. China’s business approach tends to be sharper and more ruthless than the West. They have a long time horizon for planning and economic policy. It’s not hard to imagine that China might eventually want to back their currency with something solid.
Now with events in Ukraine, we see the unprecedented attempts to sanction Russia and other countries are taking notice. It looks like a separate economic system from the U.S. Petrodollar is an increasing possibility. We could be on the verge of the largest shift in monetary history.
He discusses the movie “The China Hustle” and how it portrays some of the fraud with Chinese-based companies.
The government continues to push for more control and encroaches more and more on rights. Once your rights are taken you’re not getting them back.
Governments need to evaluate the cost-benefit of their policies. Since the United States is a nation of gun owners that has to be taken into consideration but in many other countries firearms ownership is not an issue. Politicians, however, are allowed to be surrounded by men with guns.
We’re in the process of a giant reset and it seems unanimous that gold will back a new system in one form or another. Gold is going to be the commodity to hold because it brings you control and protection. At some point, we’re going to see a mad dash for gold around the world. Governments are also going to want gold because that will give them power.
Miners will eventually go into a mania phase and we won’t see control in the gold markets. This will happen as the public realizes things are out of control. The risk of nationalization needs to be in your risk assessment.
The world needs more resources but governments keep intervening in undesirable ways that exacerbate the problems.
Lastly, Chris discusses his opinion on the problems in crypto and why the bottom probably is still coming.
Talking Points From This Week’s Episode
- Comparing China’s Economic and Business approach with that of the west.
- Gold, miners, and guns and why the government will want to control all three.
- Crypto markets and why the bottom is not here yet.
Time Stamp References:
0:00 – Introduction
2:36 – Macro Themes & China
12:53 – Ole Yellen & Inflation
14:05 – The China Hustle
16:06 – China’s Policies
19:25 – Responsibility & Rights
25:08 – Gold & Global Economy
31:05 – Canada’s Gold Reserves
32:20 – Govt Solutions & Energy
35:21 – Media Distractions
43:50 – Crypto Market Risks
49:32 – Free Markets?
50:45 – Wrap Up
Chris Irons is the host of The Quoth The Raven Podcast.