TFTC: A Bitcoin Podcast #679: Why Central Banks Are Panic Buying Gold at Any Price with Gary Brode
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Nov 3, 2025 Marty welcomes Gary Brode, a macro investor and founder of Deep Knowledge Investing, to dive deep into intriguing topics. They explore the ongoing panic buying of gold by central banks, the implications of tariffs on manufacturing, and how the BRICS coalition is affecting dollar trust. Gary makes the case for Bitcoin as a hedge against government overspending and discusses the importance of reindustrialization and energy solutions like small modular reactors. The conversation blends monetary policy insights with a look at the future of investing.
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Tariffs Can Trigger Reshoring Not Collapse
- Gary Brode argues tariffs haven't caused the expected goods inflation and can prompt domestic manufacturing reshoring.
- He believes bringing manufacturing back to the U.S. reduces dependence on foreign suppliers and strengthens national security.
Central Banks Are Buying Gold Relentlessly
- Central banks worldwide are buying gold as a non-dollar reserve asset and are price-insensitive buyers.
- Brode shifted into gold in 2020 to hedge against dollar debasement and hasn't sold any holdings.
Position For Inflation, Not Complaints
- Own assets that benefit from long-term inflation rather than complaining about policy.
- Brode recommends positioning into holdings that protect purchasing power over time.
