Zortix matched this thesis to Gold & precious metals ETFs as the exposure the bearish case argues against, most actionable for readers who already hold them. Not a recommendation.
Long-duration bonds are the patsy in debasement
The bear case argued against long-duration bonds in a debasement regime, stating that investors buying them are 'the patsy' getting played, as they are the likely loser when fiscal needs overwhelm other considerations.
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The Callback
Physical supply tightness drives structural precious metals bull case
57 weeks between these two statements.
The bull case for gold was framed as a hedge against the inevitable devaluation of the US dollar, which the guest argued is the only politically feasible way to manage the nation's massive on- and off-balance-sheet liabilities.
The bear case argued against long-duration bonds in a debasement regime, stating that investors buying them are 'the patsy' getting played, as they are the likely loser when fiscal needs overwhelm other considerations.