10/16/2023 - Dr. Albert Friedberg Conference Call on the Economy and the Financial Markets

  • Latest views on the Economy and the Financial Markets
  • Extent of monetary stimulation (Covid/Post-Covid) underestimated, effects into 2023
  • Sees some deflationary trends developing, this will become unexpected by the markets over the next 6 months
  • Is long on bonds – sees lower yields coming
  • As deflation trends emerge, likely the USD weakens .. likely to be good for gold
  • China and other countries via central banks/govts buying gold – adding gold to diversification (targeting 15% to 25% of reserves)
  • Owning gold costs 5% a year on carry
  • Inflating the currency is the likely way out of massive government debt
  • Has some long positions in Argentinian banks, which are at very depressed levels
  • Sees potential opportunities in Argentina if monetary conditions change positively
  • Highlights estimates of Argentinians holding $250 Billion USD under mattresses and overseas – if monetary conditions in Argentina¬†improve, some of these funds could repatriate, fostering a boom in Argentina

Link Here to the Conference Call Replay

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