The Case for Gold and the Mar-a-Lago Accords
Sunday, February 23rd,
Laramie, Wyoming
Dear Reader,
Below you’ll find the transcription of the live interview I did with Matt Smith from Crisis Investing last week. Like all of our Private Briefings for paid subscribers, the transcript has been lightly edited for clarity and brevity. It was a wide-ranging and eye opening conversation about gold, money, and the big changes afoot in the global monetary system.
Enjoy!
Dan
PS Already a lot to talk about when we hit the ground running tomorrow. Warren Buffett published his latest letter to shareholders of Berkshire Hathaway. The company is sitting on a record cash pile of $334 billion. And per my conversation with Matt, I found a link to this book by Murray Rothbard in which he makes the case for a US dollar backed 100% by gold, and how to get there step-by-step. I bought a copy and have it on my Kindle for some afternoon reading. Stay tuned…
TRANSCRIPT BEGINS HERE
Dan Denning: Hello everybody. This is Dan Denning from the High Plains of Laramie and from Bonner Private Research. And I am joined today for our second live chat with Matt Smith from Doug Casey's Take on YouTube and Crisis Investing. Matt is in Uruguay In his biography he says he believes that investors should be geographically disconnected from centralized systems. So he's walking the walk, but he's also talking the talk. If there's any interruption in the stream, just bear with us because we're using cutting edge technology to have what I think is probably the most important conversation in financial markets today about gold. But Matt, for Bonner Private Research readers who are new, tell us a little bit about yourself and your projects with Doug Casey.
Matt Smith: Yeah. Well, I'd say I'm an entrepreneur, or at least I was an entrepreneur in what Doug calls the before times, the pre-COVID era where it seemed like the entire world changed. And with that as a catalyst, I moved my family down here to Uruguay, and we have a cattle ranch here. So I think my current title would be Regenerative Farmer. As far as an occupation, that's what I have. But I also do a lot of cool things with Doug Casey, who's a legend and personal hero and great friend of mine. We do this podcast, Doug Casey's Take and we publish an investment newsletter at Crisis Investing. So it's a pretty good summary.
Dan Denning: We're going to get into gold because that's the purpose of our conversation today. And you have done a ton of important work on it in the last month, but I did forget to mention that in your intro is Regenerative Cattle Farmer. I want to know what that means before we go any further, if you don't mind.
Matt Smith: What it is it's producing cattle without external inputs. Essentially using the animals to improve the quality of the soil with every, you basically rotate them every single day. So we have about 250 head of cattle cattle. We don't have that much land. We're not like Bill who's got basically the state of Rhode Island. We've got a pretty small piece of property here, but we have 250 head of cattle. We move them every single day and they won't go back to the same little pasture that they're in for between 40 and 70 days, depending upon the season. And they fertilize it and they eat everything there. And then you move them to the next piece. And that process is regenerative for the soil. And it creates a much healthier environment for the animals. And it doesn't require inputs like fertilizer or seed to actually get a great yield from the animals.
Dan Denning: Yeah, I've seen some pictures and I read your posts and your blogs when you make them, and it makes me feel completely inadequate here in Laramie, because I just buy beef directly from the cattle ranches and it comes to my door, it's delivered and then I cook it.
Matt Smith: That's the way I started out. That's the way it started. But then I go, how do I take this to the next level? And so we're here.
Dan Denning: All right. Well, let's move on to the series stuff because the reason I brought you on today, is that recently you did a long YouTube video with Doug, and then you had a really important Twitter thread where you were talking about what you called a new monetary system. A major devaluation in the US dollar, and a huge revaluation in gold, all of which would be accomplished in some way with tariffs. And the phrase that I wrote down after I read your Twitter thread and watched the video, was that it would be ‘an orchestrated monetary reset’, which would go in the history books by the name of the Mar-a-Lago Accords.
So just for context for readers, gold is nearly $3,000 an ounce. As we're talking this morning it's up. In the last three months, almost 8,000 gold bars have left the Bank of England for either New York or Chicago. Some Swiss refineries have stopped producing 50 gram and 100 gram bars. So there's a lot of what we like to call dots that need connecting in the gold world. So why don't we start with the very highest level? What do you mean when you say Mar-a-Lago Accords, and what does that mean for gold?