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Jaime Carrasco: The Setup for a Paradigm Shift

Tom welcomes Jaime Carrasco of Canaccord Genuity back to the show.

Jamie says people should focus on the positive and globally there is a growing perspective shift. The real debt ceiling broke some fifty years ago under Nixon. Debt is the problem and equity markets are tiny in comparison. Gold remains the ultimate hedge.

The Evergrande default has similarities to the Lehmann Brothers collapse but it’s larger. Since 2008 we’ve been able to postpone the collapse but since then a lot of gold has moved from west to east.

China has had a massive win in Afghanistan and they did it without firing a shot. That region is key for trade and has potential energy implications for Iran.

More companies and individuals are looking for fiat alternatives to preserve their wealth. If you’re going to ‘hedge accordingly’ you should consider gold, silver, and blockchain.

He contrasts Chile with Canada and why inflation seems an unavoidable aspect of Canada’s future. Canada today has an aging population and now billions of debt. The consequences will be highly inflationary since there is no political will or gold reserves. The game is up.

Inflation is an exponential event that compounds and accelerates. It’s now signaling the decline in fiat currencies. Markets today are irrational and people need to awaken to this fact. Everything is looking good for gold and soon they won’t be able to hold back the price. The Fed today is not unlike the Captain of the Titanic.

Jaime discusses the importance of having cash to take advantage of opportunities. However, cash also carries risk. His equity focus is on producers because they have significant cash flow. With miners, you want to minimize geopolitical risk and look for good quality management.

Jaime feels we’re about to re-enter the storm that began back in 2008. He says, “Get your ship prepared.”

Time Stamp References:
0:00 – Introduction
0:58 – The Big Picture
4:22 – Evergrande Default
9:27 – China & Taiwan
13:35 – Palantir and Gold
17:36 – Gold, Canada & Collapse
22:36 – What’s Ahead for Canada
24:26 – Inflation
26:37 – Confidence in the Fed
29:27 – Which lifeboats now?
34:38 – Wrap Up

Talking Points From This Episode

  • Focus on the positive and take precautions.
  • Evergrande default, Afghanistan and China’s gold reserves.
  • Canada, debt, and lack of political will to solve problems.
  • Why you need to ‘hedge accordingly’.

Guest Links:
Website: Canaccord Genuity

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.”

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