This week on the Big Picture, John asks Jim questions from listeners and elsewhere in another edition of On The Record. This is the first of a two-part discussion highlighting Jim’s current thinking on a number of different topics. This week John asks Jim about his position on gold, and what has caused him to change his position from his bearish outlook for the last few years and become more bullish. John forwards a listener’s question about Jim’s more bearish tone on the markets recently, after a number of years of having a bullish perspective. Jim explains his analysis and the rationale behind his change in outlook. Jim also is asked about the Federal Reserve and central banking in general in terms of their collective ineffectiveness. Jim discusses what may happen next in the world of central banking. Be sure to check back on Saturday, September 3rd to hear Part 2 of On The Record with Jim and John.