Q&A #173
Is there anything to the $20B private finance facility for Argentina that the trump admin spoke about? My guess is no b/c eurodollar, but what are they actually doing then? How would you approach a person you are talking to and that person still believes that central banks print money? Which argument or piece of data would you show them to convince them? Looking at your portfolio allocation is pretty much in line what I have and was planning in the future. How often do you update it or make changes? Will you say when we have moved to the next stage? Ex have a lot of UST & was planning once yields come down to redeploy that in high yield, equities & RE which I saw you recommend, but will you mention when you think that shift occurs or suggestions? Came for the hair. could rate cuts help in the sense that the recession would be worse if they didnt cut as asset prices would crash even more with higher debt servicing costs as well? How high will the Japanese 10 yr get before it implodes something? What are the signals that the gold run is ending and where to go next? Is it just a matter of waiting for the crash? If the economy slows as you anticipate, won’t that exacerbate the deficit problem as tax receipts fall and entitlement payments (unemployment claims) rise? What happens then? Isn’t the rise in gold concurrent with increasing strength of the dollar historically a contradiction? If yes, what is the story? What are your thoughts about backwardation in silver? If demand stays high see a squeeze higher? Since metals have run so much likely correction? Historically what’s happened? Waffles are being pushed aside by Pringles paired with Flat Beveridge and a side of steepening Swiss Fondue bonds, all experienced with a crude contango performance in a "solid" and "a good place".
