Lawrence Lepard: During Uncertain Monetary Conditions Gold and Silver is Where You Want to Be
Tom welcomes Lawrence Lepard back to discuss the markets, gold, and the current disastrous state of the economy. Lawrence says, “What politicians and bankers are doing today is absolutely criminal. When they play with the value of money, they are playing with fire, and that can destroy a society. Having gold is a very good way of preserving your wealth, and in a year or two, investors in gold are going to look far from crazy.”
The US appears to be heading rapidly toward 30 trillion in debt with at least a four trillion-dollar deficit this year, probably much higher. Now that the US has crossed the bridge of direct monetization, this trend will likely continue.
Once people realize that cash assets are rapidly falling in value, expect a general rush to gold and silver. The possibility of the US dollar becoming worthless is no longer that far-fetched. Establishment people are starting to talk about why gold has a role to play in the monetary system. When sound money is restored, things could improve very rapidly, but that will require political will.
Mining stocks are risky but can be useful once you have a good physical nest egg. Lawrence gives some general advice on what types to invest in that have lower risk and good upside potential.
He says, “All I would say to people is buy those coins, it’s money and a great form of savings. I think they may be surprised just how high they go.”
Talking Points From This Episode
• Rapid US Debt expansion and dollar risk.
• Expect further direct monetization.
• Expect a rush into safe-haven assets.
• Mining stock advice.
Book Recommendations – Weimar Germany:
The Great Inflation by William Guttmann and Patricia Meehan
The Mandibles: A Family, 2029-2047 by Lionel Shriver
Lawrence W. Lepard is the Founder and Managing Partner of Equity Management Associates. He has spent his entire 38-year career as an investor, principally focusing on venture capital opportunities.
Before co-founding EMA, Mr. Lepard spent 13 years at Geocapital Partners, in Fort Lee, NJ. There he was one of two Managing General Partners and was responsible for several venture capital funds. Before Geocapital, Mr. Lepard spent seven years at Summit Partners in Boston and California, where he was a General Partner in Summit I and Summit II.
Mr. Lepard received his BA in Economics from Colgate University, and he received an MBA with Academic Distinction from Harvard Business School.