Vincent Lanci: The Most Important Weekly Close for Gold Ever
Tom welcomes Vincent Lanci back to the show to discuss the importance of this week’s gold close. If it is the highest ever, it could mean bullish continuation trends as money gets reallocated. He noted the changes he has seen in the gold market, such as Basel III putting a floor in gold, and the eastward shift of gold demand. He discussed the lack of trust in the metals markets, the differences between gold and silver, and the correlations between different commodities.
Vincent discussed the potential path forward for inflation in the context of the current recession, and the actions the ‘BRICS’ are taking to separate their economies from US dollar hegemony. He outlined Zoltan Pozsar’s concept of the “Three Prices of Money,” where investors should have a piece of the old economy, a piece of the potential new economy, and a bridge between the two.
Overall, Vince discussed why this week’s gold close is so important, and how investors should be prepared to navigate a changing economy as businesses move to other countries and new technologies and renewable energy sources become more prevalent.
Time Stamp References:
0:00 – Introduction
0:38 – Golds Performance
9:10 – Inflection Points
14:43 – Gold Flowing East
20:53 – Manipulation & Trust
25:18 – Silver Lagging?
29:58 – Other Commodities
35:14 – Recession & Inflation
41:08 – Long Gold & Short Bonds
42:44 – Zoltan Pozsar & BRICS
47:00 – Exter’s Pyramid
49:37 – Bond Demand, YCC & Japan
59:20 – Actionable Advice
1:06:35 – Bullion’N’Boobs
1:09:56 – Wrap Up
Talking Points From This Episode
- This week’s gold close could potentially be the highest weekly, monthly and quarterly close ever, signaling bullish continuation trends.
- Price leadership has moved east due to the East-West cold war and de-globalization, resulting in more gold flowing east and a potential end of the petro dollar.
- Zoltan Pozsar’s idea of the three goals suggests investors should own a piece of the old economy (black gold), a piece of the potential new economy (white gold), and a bridge between the two (yellow gold) to prepare for the US dollar weakening in buying power.
Special Discount: https://vblgoldfix.substack.com/PalisadesTomSpecial
Boobs & Bullion: https://twitter.com/boobsbullion
Vincent Lanci is the Owner and Founder of Echobay Partners LLC. and is a regular contributor on ZeroHedge.
In 2018 Vince was honored to be a part of Market Wizard Larry Benedict’s Opportunistic Trader project as precious metals and Option expert. In addition, in 2017, Mr. Lanci and Professor Robert Biolsi co-authored Forecasting Oil and Natural Gas Volatility for UCONN.
From 2004-2008, Mr. Lanci was Co-Head of Metals & Energy Trading for CiS Options LLC, Echobay’s predecessor, where he ran the long-short and vol-arb portfolios for CiS’s parent fund and generated $103MM during that time.
From 1993-2003 Vince owned and operated Berard Capital LLC option market makers. In 2000 he co-founded Whentech with David Wender, where he was the chief architect of the “Pit-Trader” user interface. Between 1987-1993 he gained experience at Lehman Bros and Cooper Neff. Mr. Lanci contributes to Zerohedge, BBG, and RTRS. He has paneled at Mondo Visione, NYC Mines & Money conferences, and is a champion of level investor playing fields.