Billionaire Pierre Lassonde on #SilverSqueeze, Gold Mining Business & Advice for Speculators

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Comments of the Day

04 February 2021


Video commentary for February 3rd 2021


Eoin Treacy’s view

A link to today’s video commentary is posted in the Subscriber’s Area. 

Some of the topics discussed include: bitcoin continues to rebound and is led by Ethereum, silver steadies, stocks pause, Dollar steady, Emerging Markets ETF rebounds, Treasury yields continue to rise.


Email of the day on the US Dollar

I am a not so new subscriber, I started in 2010. And your service is very valuable for me, so thank you! – Your commentary starts my day.

I understand that your view is that the dollar will depreciate over the coming years. Since I am based in the euro area, and have approx. 50% of my investments in USD, this is a topic that interest me very much.

I enclose a report from Nordea Bank, with a slightly different view. I would be very interested to know your take here.


Eoin Treacy’s view

Thank you for patronage over the last decade and for this well-argued report which I’m sure will be of interest to the Collective. Here is a section:

It’s one thing to say you will accept inflation overshooting, it’s another thing to do it once inflation is decidedly overshooting – especially with global growth numbers booming at the same time. We therefore expect the market to be back in questioning the pace of the Fed’s bond purchase program around summer at the latest (the consensus looks for the first tapering some time in H1, 2022 – too late in our view). A further sell-o in US fixed income, or steepening of US curves in relative terms, will at least reduce the downward pressure on the dollar from a double deficit perspective. It will also weigh on various “fair value” models for the EUR/USD.

The big question for a Dollar investor is whether the Fed is going to stick to its stated interest rate policy. They have said, in plain English, they are not going to taper and not going to raise rates until inflation takes off and not just in a transitory way.


Billionaire Pierre Lassonde on #SilverSqueeze, Gold Mining Business & Advice for Speculators

Thanks to a subscriber for this interview which may be of interest to subscribers. Here is a section from the transcript:

Pierre: Oh, look, as far as I’m concerned, the best, best deposit in the world that you can have or find today is a copper-gold deposit or a copper-gold-silver, or a copper-silver deposit, but something with copper. Because I really believe that copper is the metal of the future. In fact, our entire civilization rests on copper, on one metal, and it’s copper. Because without electricity, we have nothing. We have no transportation. We have like no communications. We have nothing. And with the emphasis on greening the world, we’re going to use more copper. So copper is absolutely the fundamental basis of our civilization and it’s going to get better. And with that in terms of fundamental money, I would say gold and silver is also part of the greening of the world. So these three metals are to my mind, the best place to be at this point in time.


Eoin Treacy’s view

Copper has been used as a conductor and alloy component since the Bronze era. In the last decade it has also taken on the role of electricity generation and is impinging on oil’s dominance of transportation.


New China swine fever strains point to unlicensed vaccines

This article by Dominique Patton for Bloomberg may be of interest to subscribers. Here is a section: 

Yan said he believes that people have replicated the sequences of virus strains being studied, which have been published in scientific literature, and that pigs injected with illicit vaccines based on them could be infecting others.

“It’s definitely man-made; this is not a natural strain,” he said.

Neither Johnson nor Yan have fully sequenced the new swine fever strains. Beijing strictly controls who is allowed to work with the virus, which can only be handled in laboratories with high biosecurity designations.

But several private companies have developed test kits that can check for specific genes.

GM Biotech, based in China’s central Hunan province, said in an online post last week it had developed a test that identifies whether the pathogen is a virulent strain, a single-gene deleted attenuated strain, or a double-gene deleted attenuated strain.

The test helps pig producers because the new strains are “very difficult to detect at the initial stage of infection and have a longer incubation period after infection,” the company said.

The government has not said how widely used illicit vaccines are or who has produced them. But a “vast amount” of pigs in China have nonetheless been vaccinated, Johnson said, a sentiment echoed by many other experts.

In 2004-5, when the H5 bird flu strains were spreading across Asia, Chinese laboratories produced several unauthorised live bird flu vaccines, said Mo Salman, a professor of veterinary medicine at Colorado State University, who has worked on animal health in Asia, raising fears that they could produce dangerous new variants.

“The current ASF unlawful vaccine(s) in China is repeating history,” Salman said


Eoin Treacy’s view

Governance is Everything but that is particularly true for the healthcare sector. The challenge for all of us is that China has very little regulation of the pharmaceuticals industry. That’s true of both the human and animal sectors. It leaves open the potential for significant issues to arise in the food supply pipeline as untested remedies proliferate.


Eoin’s personal portfolio – stop triggered on hedge position

Eoin Treacy’s view

One of the most commonly asked questions by subscribers is how to find details of my open traders. In an effort to make it easier I will simply repost the latest summary daily until there is a change.


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