Why The Global Financial System Needs A Gold Standard - Equinox Partners

New York-based hedge fund manager and strong gold standard advocate Sean Fieler says it’s time to create competition in the global monetary system because it’s just not working. ‘I will admit…that returning to a gold standard is not going to happen. The financial architecture isn’t going to be compatible with sound money,’ he told Kitco News. ‘What we’re advocating for…is opening up the monetary system to competition…competition for the Fed and end their money monopoly, which has been abused certainly in recent years.’ Fieler is also known for his large political contributions and chimed in on the U.S. presidential race as well as GOP presumptive nominee Donald Trump’s appeal among American voters. ‘The electorate wants a change…and the markets are still anticipating almost no change so you have stocks trading on lofty multiples and bonds trading on negative real yield,’ he said. ‘I think Trump brings more change [while] Clinton is the status quo.’ The Equinox Partners president also commented on gold and gold stocks, which his firm is invested in. He noted that stocks are up over 80% year-to-date and he expects they have further room to go. ‘The stocks are now discounting prices of the metals about where spot is but I think the metals have further to go as well.’ (show less)

New York-based hedge fund manager and strong gold standard advocate Sean Fieler says it’s time to create competition in the global monetary system because it’s just not working. ‘I will admit…that returning to a gold standard is not going to happen. The financial architecture isn’t going to be compatible with sound money,’ he told Kitco News. ‘What we’re advocating for…is opening up the monetary system to competition…competition for the Fed and end their money ... (read more)

Kitco NEWS

Kitco NEWS
The Kitco News team speaks to analysts and experts on the frontlines of the market to get the most up-to-date news on the economy. The show offers a well-rounded, timely view on big market moves and any major headlines that may affect financial assets. Coined – no pun intended – as the number one source of precious metals news, Kitco News is the leading provider of up-to-date price action in the precious metals space.

Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.