Jaime Carrasco: Gold Will Win the Presidential Election
Tom welcomes returning guest Jaime Carrasco of Canaccord Genuity to the program. Jaime discusses the Fed’s rampant money printing. Whenever central banks print like crazy, income inequality and destruction come to the middle class throughout history. These policies explain the politics today and why the outlier tends to be elected.
The dollar avalanche is already unraveling, and it can’t be stopped. The only question is will we end up with a global centrally orchestrated currency system or more of a country centric libertarian approach. Regardless of who wins the election, gold wins.
The number one rule of power is he who has the gold makes the rules. China now has a lot of gold, and Jaime discusses what shape the future monetary system may take. Trump is more likely than the Democrats to restructure. Either way, a massive inflationary storm is coming, but Americans are more likely to remain in control of the direction under a Trump presidency.
The pandemic was an excellent excuse to print all these trillions, and they have lost control of the yield curve. Banks are no longer able to suppress gold and silver but can only manage it’s the ascent to an extent. In the background, systemic risks continue to rise, and the smart money is entering into gold. Eventually, physical shortages will become evident.
Today, some miners are indeed dirt cheap opportunities. Position yourself to make it through the storm. Jaime believes America will eventually do the right thing and that the constitution is the best document for a civilized society.
Time Stamp References:
0:40 – History, money printing and the middle-class.
3:45 – Dow VS Metals
5:00 – Dollar collapse is underway.
6:50 – Gold and making rules.
9:30 – Central planning or free markets.
11:48 – Covid the convenient excuse to print moar.
16:10 – Systemic risk and dealing with the Fed.
18:55 – Why the dollar will decline.
20:15 – Canadian Central Bank balance sheet exploding.
26:50 – Unmined reserves and discount prices.
28:30 – Stimulus and market cycles.
31:25 – Educating investors and bailouts.
Talking Points From This Episode
• Central banks, inequality, and the middle class.
• Wealth protection and inflation.
• The unraveling dollar and its eventual replacement.
• Opportunities abound, so position yourself accordingly.
Jaime Carrasco is portfolio manager at Canaccord Genuity Inc. in Toronto. From 2014-2018 he worked as Director of Wealth Management and Associate Portfolio Manager for ScotiaMcLeod. Before this, he worked for Macquarie Group, CIBC Wood Gundy, BMO Nesbitt Burns, Gordon Capital, and Merrill Lynch.
Jaime is a leading Canadian investment professional with 25 years of experience providing wealth management and investment counsel to affluent families, businesses, and institutions. He has garnered a reputation for questioning and challenging the status quo and exploring the most innovative investment strategies.
Jaime, whose mother tongue is Spanish, also speaks Italian and French. He completed a BA in political science and economics at the University of Toronto in 1988. While a student, he worked for CS Yacht, a company that built luxury sailboats, thus spending his summers as a skipper for the Canadian establishment members. Jaime credits this experience and having survived sailing through Hurricane Bob in 1991. This experience taught him lessons that have become a metaphor for his financial investment strategies.
“Like one’s financial wealth, sailing is not about controlling the wind, but rather about adjusting the sails.”