The Macro Picture: Is Gold the New Green? w/ Tavi Costa of Crescat Capital

Apr 4, 2025

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In this episode, we speak with Tavi Costa, partner at Crescat Capital, about global macroeconomic shifts, rising gold prices, and the potential rotation from large-cap tech into commodities. Tavi explains why he sees significant opportunities in gold, silver, and emerging markets amid a weakening dollar and ongoing de-globalization. We dive into how policy decisions, geopolitical trends, and market valuations are shaping investment strategies, including what this means for metals like copper, silver, and lithium.

CHAPTERS 📖
(00:00:00) Introduction
(00:03:06) Why Tavi Doesn’t Own Physical Gold
(00:07:31) What's Driving Gold’s Rally
(00:11:28) Potential for Gold-Backed Alternatives
(00:15:31) De-Globalization and Onshoring Trends
(00:19:51) The Future of Lithium and Humanoid Robots
(00:23:03) Copper and Silver Defying Recession Concerns
(00:26:16) Are Trump's Tariffs here to stay?
(00:28:35) The Dollar’s Role and Manufacturing Comeback
(00:33:40) AI Arms Race: U.S. vs China and the Chip Narrative
(00:36:18) Will Liquidity Return and Fuel Hard Assets?
(00:38:38) Emerging Markets: Value or Value Trap?
(00:46:39) Gold Equities vs Base Metals: Valuation Perspectives
(00:54:24) U.S. Gold Reserves and National Policy Implications
(00:58:15) Could the U.S. Subsidize Domestic Gold Mining?
(01:02:21) Risks, Speculation, and What Comes Next

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Links 🌍

RK Equity Website: https://rkequity.com/
Patreon: https://www.patreon.com/rockstockchannel
Podcast:
Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172
Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq?si=a4ca356c45394648
X (Twitter):
Howard: https://twitter.com/LithiumIonBull
Rodney: https://twitter.com/RodneyHooper13

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DISCLAIMER

NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH

Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com

Intro and outro audio credit: Jamie Klein