Keith Weiner: The Moonshot That The Metals Have Been Waiting For

Tom welcomes back, Keith Weiner, the president of the Gold Standard Institute USA, CEO of Monetary Metals, and a PhD economist. In their discussion, they examine the fundamental price of gold and silver which, according to Keith's Metals model, is currently above market rate. This dynamic price reflects the tension between physical markets and futures markets, with speculators in the latter holding significant leverage that can impact short-term prices. While the accuracy of this model is debated, its indication of prices being significantly above market price suggests a potential upward trend for both gold and silver. Keith also touched on the philosophical concept of anti-concepts, drawing from Ayn Rand's ideas about proper concept formation. He used the term 'money' as an example of an anti-concept, arguing that defining money as anything other than gold or a promise to pay has led to misunderstandings and mismanagement of monetary systems. Keith further explored the consequences of long-term trends in debt and falling interest rates. He explained how these trends lead to capital consumption through various means, including negative interest rates in countries like Germany, Netherlands, UK, and Japan, where enterprises that destroy investor capital are incentivized. In the United States, falling interest rates have led to an illusion of returns on investment as one party's wealth is converted into another's income. This 'prodigal economy' fuels consumption of capital, with Bitcoin and real estate being prime examples. Additionally, Keith discussed differences between capital consumption, inflation, deflation, and stagflation. He argued that monetary increases can have different causes, leading to varying effects, and defined inflation as the counterfeiting or fraudulent issuance of debt or credit, resulting in inevitable deflation through losses or cram-downs. Lastly Keith explains Monetary Metals approach to making metals useful again to provide returns for companies. Time Stamp References:0:00 - Introduction0:39 - Price Fundamentals4:55 - Model Inputs & Analysis11:23 - Profiting Vs. Stealing16:18 - Anti-Concepts of Money24:48 - Capital Consumption32:28 - Inflation & Economists36:32 - Defining Stagflation40:01 - Drunk Monetary Policy45:55 - Incentives & Solutions49:56 - Incentivising Capital54:34 - Providing Capital & Yields57:27 - Counterparty Risk?1:00:18 - Making Metals Useful1:03:27 - Wrap Up Talking Points From This Episode * Gold and silver prices may be undervalued according to Monetary Metals model, indicating an upward trend. * Money defined as gold or promise to pay is crucial to avoid misunderstandings in monetary systems. * Long-term debt and falling interest rates lead to capital consumption with unintended consequences. Guest Links:Twitter: https://twitter.com/kweiner01Website: https://monetary-metals.comWebsite: https://goldstandardinstitute.netFacebook: https://www.facebook.com/keith.weiner.5 Keith Weiner is the founder and CEO of Monetary Metals, an investment firm that is unlocking the productivity of gold. Most people regard gold as a dry asset, to lock away in a vault, incurring storage fees. Many are waiting for it to rise in price. Keith and Monetary Metals are on a mission to change this. Gold should once again serve to finance productive enterprises and extinguish debts. The dollar performs one of these functions, but not the other.