Thoughtful Money with Adam Taggart Is The Bottom In For Gold? Silver? Bitcoin? | Lawrence Lepard
18 snips
Apr 1, 2026 
Lawrence Lepard, sound-money advocate and money manager who wrote The Big Print, shares his take on precious metals and crypto. He discusses whether recent lows for gold, silver and Bitcoin mark a bottom. He covers physical vs paper markets in silver, miner and ETF opportunities, portfolio sizing and margin risks, and how big-print monetary policy could reignite these assets.
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Buy Exposure But Avoid Heavy Margin
- Prepare for asymmetric outcomes by owning these assets without over-leveraging and expect drawdowns.
- Lepard recommends not waiting to buy if you have conviction but cautions against heavy margin due to a possible market-wide liquidity shock.
Big Print Thesis Still Drives Long Term Outlook
- Lepard's 'Big Print' thesis remains intact: fiscal math will force larger money creation events.
- He expects more aggressive monetary operations ahead to manage debt and bond markets, which should eventually drive these assets materially higher.
Sentiment Has Flipped From Froth To Fear
- Sentiment on gold and silver swung from euphoric to deeply negative in weeks, signaling a shakeout of retail/speculative participants.
- Lepard cites Hulbert's Sentiment showing gold sentiment near 17% positive as evidence of tourist exodus.
