Jaime Carrasco, a Senior Portfolio Manager at Harbourfront Wealth Management with 25 years of experience, shares insights on the critical economic shifts affecting investors today. He discusses the looming debt bubble and the implosion of the fiat currency system, positioning gold and silver as essential assets during this transformation. Carrasco highlights silver's production deficit amid a green energy shift and warns against complacency in the investment community. He advocates for strategic allocation in precious metals to safeguard wealth in these uncertain times.
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insights INSIGHT
Debt Bubble and Gold's Return
The global economy is in a debt bubble where more debt no longer fuels growth but social instability.
Gold is set to play a pivotal role in resetting the monetary system as fiat currencies implode.
volunteer_activism ADVICE
Precious Metals Portfolio Allocation
Allocate at least 30% of your portfolio to precious metals to protect against currency devaluation.
Focus on well-managed mining companies to benefit from rising gold and silver prices.
insights INSIGHT
Shanghai Exchange Sets Gold Price
The Shanghai Gold Exchange sets the real price for gold and silver, unlike manipulated paper markets elsewhere.
China controls physical gold and limits price spikes allowing domestic accumulation and market stability.
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This Stepping Stone edition of 'The Wizard of Oz' is an adaptation of L. Frank Baum's classic story, tailored for first chapter book readers. The book includes art from the original 'Wizard of Oz' and follows the journey of Dorothy as she is carried by a cyclone from a Kansas farm to the magical land of Oz, where she meets the Tin Woodman, Scarecrow, and Cowardly Lion.
The Prince
Niccolo Machiavelli
Written in the early 16th century, 'The Prince' is a realistic instruction guide for new rulers. Machiavelli argues that an effective leader must be skilled in the art of war, sometimes cruel, and willing to use deception and manipulation to achieve political goals. The book is divided into chapters that discuss various types of principalities, how to acquire and maintain power, and the qualities a prince should possess. Machiavelli uses historical examples, including the career of Cesare Borgia, to illustrate his points. The treatise emphasizes the importance of maintaining the goodwill of the people and the stability of the state, even if it means deviating from traditional virtues. 'The Prince' remains a controversial but influential work in modern political philosophy.
The Art of War
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In this episode on Palisades Gold Radio, Tom Bodrovics welcomes back Jaime Carrasco. Jaime is Senior Portfolio Manager & Senior Investment Advisor at Harbourfront Wealth Management.
Jaime discusses the current economic landscape and the implications for investors. Carrasco emphasizes the importance of understanding the paradigm shift in the monetary system, particularly the role of gold and silver as sound money.
Carrasco highlights that the global economy is facing a debt bubble, where each additional dollar of debt fails to stimulate growth, leading instead to social instability. He argues that this situation is similar to what Latin America experienced, with the US now reaching a critical point. Carrasco believes that the current fiat system is imploding, and gold will play a central role in the upcoming reset of the monetary system.
He discusses the rise of gold prices across major currencies, noting that this reflects the decline in purchasing power of fiat currencies rather than an increase in gold's intrinsic value. Carrasco warns against complacency among financial advisors who fail to recognize these systemic changes and advises investors to allocate a significant portion of their portfolios to precious metals, particularly through well-managed mining companies.
Carrasco also delves into the role of silver, emphasizing its structural deficit in production relative to demand, especially given the shift toward green energy. He suggests that silver's price will rise significantly as the global economy transitions, offering investors substantial opportunities.
The interview touches on geopolitical dynamics, including China's strategic accumulation of gold and its influence on the global monetary system. Carrasco warns against trusting central banks and advocates for individual investors to establish their own "gold standards" to protect wealth.
Finally, Carrasco advises investors to focus on stockpicking within the precious metals sector, emphasizing high-quality producers with strong management and leverage to rising metal prices. He encourages a long-term perspective, positioning oneself to benefit from the coming paradigm shift rather than trying to predict short-term price movements.
Talking Points From This Episode0:00 - Introduction2:10 - Changing Roles4:30 - Currencies Vs. Gold9:14 - Trump & Debt Bubble15:40 - Tariffs & Positioning23:50 - Silver Opportunity26:20 - Silver Supply Deficit30:15 - M&A Activity Strategy34:08 - Gold & Leverage37:11 - Mkt. Volatility Causes39:08 - A Quiet Fed & Inflation45:42 - Lower Dollar US/China48:42 - When to Sell Gold?57:05 - Concluding Thoughts59:00 - Wrap Up
Guest Links:Twitter: https://x.com/ijcarrascoLinkedIn: https://www.linkedin.com/in/carrasco1/Website: https://www.harbourfrontwealth.comE-Mail: jaime@jcwealth.ca
Jaime Carrasco is Senior Portfolio Manager & Senior Investment Advisor at Harbourfront Wealth Management. From 2014-2018 he worked as Director of Wealth Management and Associate Portfolio Manager for ScotiaMcLeod. Before this, he worked for Macquarie Group, CIBC Wood Gundy, BMO Nesbitt Burns, Gordon Capital, and Merrill Lynch.
Jaime is a leading Canadian investment professional with 25 years of experience providing wealth management and investment counsel to affluent families, businesses, and institutions. He has garnered a reputation for questioning and challenging the status quo and exploring the most innovative investment strategies.
Jaime, whose mother tongue is Spanish, also speaks Italian and French. He completed a BA in political science and economics at the University of Toronto in 1988. While a student, he worked for CS Yacht, a company that built luxury sailboats, thus spending his summers as a skipper for the Canadian establishment members. Jaime credits this experience and having survived sailing through Hurricane Bob in 1991. This experience taught him lessons that have become a metaphor for his financial investment stra...
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