Tom Luongo & Vince Lanci: Part Two – Gold, Wars, Currencies and the BRICS+
In this second half of this Palisades interview Tom Luongo and Vince Lanci continue to discuss topics related to gold, western foreign policy, LIBOR, and more. Vince explains the importance of setting up a gold-convertible exchange and how the supply and demand of gold is moving east. He also explains how the West is combatting this by forcing pricing in dollars, while Saudi Arabia and other BRICs are pricing in Brent. They discuss in depth the factors at play in the war of currencies and sanctions from a geopolitical perspective, and Luongo says the dumbest thing Trump ever did was putting shock and awe sanctions on Iran. They also discuss the free market, the MI6, and the US’s weak ground game in Russia.
The conversation then turns to the future of global currencies in light of the BRICS+ meeting in August. Tom believes it is an incremental shift and not any major change, and is more worried about something like a false flag that would put the world beyond a point of no return. Vince wants to talk about the note about the German central bank needing a bailout, and Tom believes Europe marking their gold to market is a negotiation or bluff. Tom then introduces the concept of SOFR and how the SOFR futures market went ballistic three months later and killed off the euro dollar futures in just about a year. He also finds it interesting that the SOFR futures indicates that the Federal Reserve is not likely to pivot before the end of the year. Vince argues that some form of inflation must happen in order for the private insurance and pension systems to be fixed.
Lastly, Vince says prepare for the worst but notes that things will probably play out slowly.
Time Stamp References:
0:00 – Introduction
0:44 – Gold Convertibility
15:19 – Major Wars & Currencies
22:40 – Western Foreign Policy
29:43 – BRICS+ Changes
33:23 – Gold C.B. Bookkeeping
43:55 – Digital Euro & FedNow
54:00 – Debt Ceiling & Biden
56:24 – Powell & End of Libor
1:03:42 – Dollar Demand & Flows
1:07:25 – Preps & Slow Collapse?
1:10:08 – Wrap Up
Talking Points From This Episode
- How demand for gold and other commodities is moving east, and with it the businesses like, storage, refinement, and manufacturing
- Tom Luongo believes the dumbest thing Trump ever did was putting shock and awe sanctions on Iran, as it took away the convenience premium of the dollar and forced Iran to create an infrastructure that incentivised people to use other currencies.
- Why we’re watching an incremental process play out away from the U.S. dollar.
Luongo is an ex-Research Chemist and Anarcho-Libertarian, whose work can be seen on sites like Zerohedge and Newsmax Media. He has been married for 30 years and has a teenage daughter. Professionally, he has seen an industry be created and destroyed by government fiat. He ran for Florida House and later spent 5+ years working on an electroless Nickel-Boron coating. Additionally, he is the publisher of the Gold Goats ‘N Guns Newsletter. He does not believe in the man-made global warming narrative, and his political views lean toward libertarianism. In his free time, he builds, raises goats, plays hockey, drums, and plays board games. Lastly, he owns a few guns.
Vincent Lanci is the Founder and Owner of Echobay Partners LLC., and a regular contributor on the financial news platform Zero Hedge. His achievements include being a part of Market Wizard Larry Benedict’s Opportunistic Trader project as a precious metals and option market expert, and co-authoring Forecasting Oil and Natural Gas Volatility with Professor Robert Biolsi for the University of Connecticut in 2017.
From 2004-2008, Mr. Lanci was the Co-Head of Metals and Energy Trading for CiS Options LLC, Echobay’s predecessor. He ran the long-short and vol-arb portfolios for the parent fund, resulting in a 139% increase in profits which totaled to $103MM.
His professional experience prior to 2004 includes founding and operating Berard Capital LLC in 1993, working as the chief architect for Whentech’s ‘Pit-Trader’ user interface, and being part of Lehman Brothers and Cooper Neff. An active commentator, Vince speaks at conferences such as Mondo Visione, Mines & Money and is a vocal proponent of a fair playing field for investors.