Another billionaire goes all in on the “barbarous relic” gold

Billionaire Crispin Odey recently released a management letter to his hedge fund clients praising gold and explaining gold products constituted the next, great investment wave.

He is yet another in a wave of billionaires who have all, suddenly, been moving massive portions of their portfolio into gold…with one of the latest being George Soros, who moved a significant amount of his portfolio into gold just a few months ago.

It is quite likely that both of these individuals are familiar with TDV’s Shemitah and Jubilee Year analysis. That’s not to say they read TDV (of course they may – and should), but they understand the larger, secretive events associated with these occult timelines. That may be in fact one reason why Soros and other billionaires have been acting this year to realize gold positions. And why Odey, too, has now moved in that direction.

The two men move in the same, elitist circles. Soros provided Odey with his first large investment stake, reportedly of some $150 million, when Odey set up his initial hedge fund in the early 90s. And Odey was briefly married to a daughter of Rupert Murdoch and is now married to Nichola Pease who is reportedly related to one of the founding families of Barclays Bank.

Odey has now taken a significant position in Kinross Gold Corporation, purchasing 15.5 million shares of the Canadian gold-mining company, valued at $75.7 million on June 30. But it is his recent management letter where he speaks about gold historically that should get your attention:

“In a world where $13 trillion of bonds are negative yielding, where $4 trillion of investments are in exchange-traded funds (ETFs), is it wise that only $1.5 trillion of savings are invested to protect investors against a change in the weather?”

And more:

“If we are at the limits of quantitative easing (QE) and financial repression, central banks, in the developed world, are at least doing a very good job at printing money. Every chance is taken to push some money printing through.

Carney was quick to take advantage of Brexit to keep up with his fellow central bankers.   And this is where gold comes in. Gold was the original currency. It came out of distrust of governments and was chosen because it could not be manufactured at will.

Today there are around 300,000 tons of gold extant and each year around 2,700 tons are mined, or less than 1% of the stock of gold.

… Today, world GNP stands at $75 trillion and world money supply stands at around $83 trillion – some ten times its level at the start of the millennium.”

The inference here is clear. A lot less gold is being produced than paper money. And Odey anticipates that eventually the “price” of gold against paper money will be massively revalued upwards.

About the Author

Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast. Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences including his own, Anarchapulco, as well as regularly in the media including CNBC, CNN and Fox Business.