John Butler: Gold More Underpriced Today than During The 2008 Financial Crisis
Continuous QE will undermine the dollar’s reserve currency status
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Jim welcomes John Butler from London, Amphora’s CIO and author of The Golden Revolution. John notes that central bankers are not taking accountability for their mistakes, which is leading to unintended consequences. He also sees the concentration of wealth continuing to grow in the financial sector, as "too big to fail" institutions grow ever bigger. John also believes we will see banks begin to charge fees on deposits at banks, as banks pass along higher fees on cash charged by the Federal Reserve. As to gold and commodities, John sees hard assets as the most undervalued sector today, with gold more underpriced today than during the financial crisis of 2008. He stresses that investors need to own hard assets, but exercise extreme due diligence when choosing commodity funds or ETF’s.
John Butler has 18 years experience in the global financial industry, having worked for European and US investment banks in London, New York and Germany. Prior to launching the Amphora Commodities Alpha Fund he was Managing Director and Head of the Index Strategies Group at Deutsche Bank in London, where he was responsible for the development and marketing of proprietary, systematic quantitative strategies for global interest rate markets. Prior to joining DB in 2007, John was Managing Director and Head of European Interest Rate Strategy at Lehman Brothers in London, where he and his team were voted #1 in the Institutional Investor research survey. In addition to other research, he publishes the Amphora Report newsletter which appears on several major financial websites.