Dominic Frisby: Bullish on Gold When It Breaks 1360
Dominic discusses the biggest problem with uranium which is the public fear of nuclear power. It doesn’t matter if that fear may be misplaced what matters is just the mistrust. It may take higher oil prices or some other event to convince the public that nuclear energy remains worthwhile.
In 2006 there was a huge bull market for uranium, but it followed an extended bear market. Often bubbles have an underlying story that drives them. Back then peak oil was a compelling narrative until fracking technology allowed for more recoverable oil. Lastly, bubbles often take a long time to unwind. Sensible investment in uranium companies will make you money in the longer-term.
Dominic is a gold bug, and he feels the worlds financial systems need to be fixed, and that solution will involve gold. 2011 was another bubble, and many companies are not profitable at even $2000 an ounce. $1360-$1370 is significant technical resistance on the chart. Once it’s above that level for a while, he will be much more bullish.
How will gold perform in an increasingly digital economy? The digital economy now exceeds much of the real economy, and it can grow at incredible speed.
Copper still has some resistance to overcome but it seems like a bull market for copper is coming. Copper has a good story, and there is a shortage of discoveries in that space.
The mistake he made with Bitcoin was not recognizing it’s scalability and how it is an entirely new money system.
Dominic is very concerned about privacy, and most don’t realize that they have given it away. Were all being watched and we don’t know who is doing the watching. He is looking at starting a privacy-centered company in Canada.
Time Stamp References:
0:45 – Uranium’s biggest issues.
6:00 – Outlook for Gold.
8:00 – Golds role in a digital economy.
13:00 – Copper needs to overcome resistance.
16:00 – Opinion on Bitcoin and cryptocurrencies.
18:00 – World is becoming increasingly digital.
19:30 – Lack of privacy online.
Talking Points From This Week’s Episode
• Uranium’s major problem is public perception.
• What is the role of gold in a digital economy?
• Copper has a good story.
• Bitcoins ability to scale as a new money system.
• Concerned about the lack of privacy on the internet.
Dominic Frisby (“mercurially witty” – the Spectator) is the world’s only financial writer and comedian. He is MoneyWeek’s leading commentator on gold, commodities, currencies, and cryptocurrencies. He is the author of the books “Bitcoin: the Future of Money?”, and “Life After The State.” He also co-wrote the documentary “Four Horsemen” and presents the chat show, “Stuff That Interests Me.”
His show 2016 “Let’s Talk About Tax” was a huge hit at the Edinburgh Festival, and Penguin Random House has since commissioned him to write a book on the subject – “Daylight Robbery – the past, present, and future of tax” will be published later this year. His 2018 Edinburgh Festival show, Dominic Frisby’s Financial Gameshow, won rave reviews. Dominic was educated at St Paul’s School, Manchester University and the Webber-Douglas Academy Of Dramatic Art.