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
