Turning Hard Times Into Good Times

Alasdair Macleod, Michael Oliver and Chen Lin return. With bitcoin’s price still rising and expected to rise even more, there has been a growing belief in crypto currency circles that it will replace unbacked government currencies when they eventually fail. Alasdair says the assumptions behind this conclusion are naïve, exposing hardly any knowledge in what qualities are needed for sound money. Governments resist a return to gold-backed currencies but Alasdair will explain why governments will have no choice but to do so as a result of powerful market forces. And we will ask him what signs to look for that will tell us a change to gold-backed money is upon us. Michael will update us on the markets he thinks are the ones you need to watch most closely as the march toward non-backed fiat currency destruction continues. Chen will talk about a couple of his favorite investments and perhaps provide some thoughts about how geopolitical dynamics may impact the markets through 2021.