Kontrarian Korner #72 - Matt Smith

On Monday (before I got sidetracked over the last couple days), I had Matt Smith @ Crisis Investing on the podcast for an interesting conversation. We discussed their new book, The Preparation, which he wrote with his son, Maxim Smith, and Doug Casey. It will be very interesting for anyone that has a son that is approaching college, and it’s a book I wish I had 15 years ago. We also got into financial markets, commodities, current events, geopolitics, and how it all connects as we head into the Fourth Turning.

Podcast Summary

* The story behind The Preparation, and why it is worth considering as an alternative to college.

* The Patron-Client relationship, the Generational Divide, and the importance of having relationships with older and younger generations.

* Where the US is headed, and why we are headed for a monetary reset.

* The impact of AI, and how that will have an impact on society and the job market.

* The Fourth Turning and the potential for civil conflict in the US.

* His view on bitcoin, cryptocurrency, and how some of the recent changes around bitcoin make him uncomfortable.

* Why long-term sovereign debt is a toxic asset class.

* Gold moving to the center of the financial system, and why Doug Casey thinks this will be the last gold bull market.

* How the reshuffling of the global trade system has an impact on agricultural commodities.

* How passive investing has created distortions in the market, and why it’s not a price discovery mechanism anymore.

* Book Recommendation: The Rise and Fall of American Growth by Robert Gordon.

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