In this Natural Resource Stocks interview, host Andy Millette sits down with Jaime Carrasco, Senior Portfolio Manager and Senior Investment Advisor at Harbourfront Wealth Management, to break down why he thinks the fiat system has become a monetary Titanic and why gold and silver are the only real lifeboats left.
Jaime explains why gold near four thousand is not the story, why the real signal is that Western wealth still has almost no allocation to precious metals, and why he believes the sector is set up like Warren Buffett in the late nineties when everyone thought he had lost it. He hammers on allocation over price, calling ten percent in precious metals not enough and arguing that serious investors should consider a full thirty percent allocation if they actually want to make it through what is coming.
From there we dig into the silver deficit, the eighty to one paper gold–silver ratio versus an eight to one mining reality, and how five years of underinvestment have left the world short of physical silver just as green energy and monetary demand collide. Jaime also walks through why he is now loading up on silver producers, why many miners are trading as if gold were still two thousand, and how free cash flow margins at quality names are rivaling high-flying tech stocks.
On the macro side he lays out how the long bond bubble and yen carry trade are now unwinding, why long term rates in Japan matter more than short term moves by the Federal Reserve, and why he believes rising long rates and central bank gold buying mean gold is not coming down from here. We also cover mergers and acquisitions in the mining space, portfolio construction across producers, developers and explorers, and how to think about physical bullion versus equities inside a defensive, #Millettian hard asset allocation.
The opinions expressed are solely those of the guest and do not necessarily reflect those of Natural Resource Stocks.
Guest links
Website: https://www.harbourfrontwealth.com
X: https://x.com/ijcarrasco
LinkedIn: https://www.linkedin.com/in/carrasco1/
Host links
Host Andy Millette – Natural Resource Stocks
Website: https://www.NaturalResourceStocks.net
YouTube Main: https://www.youtube.com/@naturalresourcestocks
YouTube Clips: https://www.youtube.com/@NaturalResoureStocksClips
X: https://x.com/theandymillette
LinkedIn: https://www.linkedin.com/in/andymillette/
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