《McAlvany: Market Seeing "Best Set Up for Gold Ever," Silver Offers More Torque》
由于主权债务需求下降，黄金在未来12至36个月内将是净赢家；应持有实物金属以作防御。
我知道我们总是谈论黄金和白银。我们稍后会谈到这个，但你在这里配置了多大比例？
I know that we always talk about gold and silver. We'll get to that in a moment, but what percentage are you allocating here?
所以，虽然我们用实物金属进行对冲，我知道你在你的备忘录中把这描述为你交易这种金属50多年来所见过的最好的黄金仓位。很明显你并没有交易它50年，但在50年的交易历史中，是什么让当前环境与之前的黄金牛市有根本性的不同？
So, while we hedge with physical metals, I know that you described in your memo this as the best position for gold that you have seen in over 50 years of trading the metal. It is clear that you have not traded in it for 50 years, but in the 50-year history of trading, what makes this current environment fundamentally different from previous gold bull markets ?