Frank Giustra: Gold, the Dollar, and Dogecoin - The Final Act

Tom welcomes back Frank Giustra, CEO of the Fiore Group, to the show.

Frank discusses his love for history and economic theory. Back in 2001, he became convinced the dollar would head down and that gold would go up.

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He became convinced once the Fed changed its approach to the dollar. Moral hazard was developing, and it became quite evident to Frank during the fall of 2001. This hazard became clear to everyone during the 2008 crisis when the Fed lowered rates further and started printing money. Since then, global debt has doubled and now stands at 270 trillion dollars. This debt can't be serviced, so interest rates can't be allowed to rise. Money printing must now continue indefinitely, as we're in an inescapable vicious cycle.

The pandemic was just one more excuse for the printing of money. We've left the billion era and are now in the trillion-dollar era. The days of the dollar reserve currency are numbered.

All commodities are up sharply over the last 12+ months, and these costs will work their way into consumer goods over the next few quarters. This level of inflation has not been seen since the 1970s. This will really put a fire under gold. Watch carefully real interest rates as inflation will be hard to hide.

Frank advises that buying on dips may not always work because the bubbles today in equities are overvalued, and the bond markets are even worse. Bubbles are always waiting to pop. The Fed always comes to the rescue until they don't, or their actions become ineffective. The levels of speculation today are off the charts and will end very badly.

He advises caution when it comes to cryptocurrency, and investors should recognize that this is a highly speculative market driven by cult-like greed. Diversify, take a percentage, and put it into gold.

He discusses his successes in the mining industry and his strategy for building successful companies. It's mostly about management and then finding good assets in decent jurisdictions. This gold market is just beginning, so he started Aris Gold with an excellent management team to capitalize on the coming move.

Lastly, Frank discusses what brings him peace and balanced life while minimizing potential life regrets. Always learn new things and keep your mind sharp.

Time Stamp References:
0:00 - Introduction
0:33 - The Case For Gold
6:35 - Dollar Final Act
8:28 - Asset Bubbles & CPI
10:02 - Equities & Liquidity
15:06 - Time & Performance
17:48 - Bitcoin Speculation
21:12 - Portfolio & Risk
24:15 - Miners & Fundamentals
30:47 - ESG & Business
33:05 - Macro View & Froth
35:22 - A Balanced Life
39:18 - Book Recommendations
41:23 - Wrap Up & Thoughts

Talking Points From This Episode
- The decline of the dollar.
- Commodities and consumer goods inflation.
- Equities, bonds, and cryptocurrency bubbles.
- Mining industry success and balancing your life.

Guest Links:
Twitter: https://twitter.com/Frank_Giustra
Website: https://frankgiustra.com
Website: https://www.arisgold.com
Website: https://giustrafoundation.org/

Frank Giustra is CEO of the Fiore Group, a private firm managing a broad portfolio of private equity investments and companies, specializing in natural resources, entertainment, art, food, and lifestyle. Mr. Giustra's entrepreneurial success includes founding Lionsgate Entertainment, now one of the world's largest independent film companies.

Mr. Giustra brings an entrepreneurial approach to philanthropy to catalyze new ideas and innovations that can be scaled and shared. In 2007, he co-founded Acceso, a social business builder that brings entrepreneurial solutions to global poverty. Acceso manages agribusinesses in Colombia, El Salvador, and Haiti.

For over two decades, the Giustra Foundation has supported innovative solutions to some of the world's most pressing humanitarian and economic challenges -- focusing on women and children, health and education, homelessness, and refugee resettlement. The Giustra Foundation is actively involved in the global refugee crisis by providing humanitarian aid and being the founding partner in the Global Refugee Sponsorship Initiative.

In 2020, Mr. Giustra became co-chair of the International Crisis Group, a widely recognized independent, non-partisan source of analysis and advice to policymakers on preventing and resolving deadly conflict. He has been a trustee and supporter of the Crisis Group since 2005.

Mr. Giustra sits on a variety of non-profit, private, and public boards.

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