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GoldSeek Web Radio: John Embry and Charles Hughes Smith, and your host Chris Waltzek

By: Chris Waltzek, Radio

 -- Published: Sunday, 17 December 2017 | Print  | Disqus 

Featured Guests

John Embry & Charles Hughes Smith

Show Highlights

  • Chris welcomes back, John Embry, Senior Strategist at Sprott Asset Management.
  • The cryptomarket price explosion represents prima facie evidence of what the gold crowd has known for decades - gold price suppression fomented by the fiat money is doomed.
  • Case in point, the upward eruption in BTC / ETH / LTC may represent the petrie dish model for the precious metals market.
  • One of the more compelling arguments in favor of silver - the current price is merely a few dollars above the mining expense per ounce.
  • When combined with the facts that its industrial applications are inelastic and abysmal sentiment from a contrarian perspective the metal could present a value opportunity.
  • According to the World Gold Council, although silver is about 10 times more abundant in the earth's crust, the stockpile of available investment grade silver is actually half that of gold.
  • Silver represents a short-squeeze candidate of epic proportions as the supply of physical bullion is incapable of satisfying potential short-covering demand.
  • Charles Hughes Smith from the Of Two Minds blog returns with commentary on the cryptocurrency bonanza.
  • Real-world, peer-to-peer Bitcoin applications yield exceptional utility for all global inhabitants.
  • The studio workstation recording the discussion offset the associated electricity costs via mining Zcash 850 Sols / second.
  • The mining operation is optimized for automatic coin switching among dedicated servers to maximize the CUDA cores of both GPUs.
  • While detractors find little value in BTC, clearly the digital currency satisfies 4 of the most desirable characteristics of gold, the King-of-currencies:
  • Store of value - similar to the finite number of gold ounces above ground, BTC derives intrinsic value from trust stemming from mathematics.
  • Divisibility - BTC set the new standard in divisibility, arguably the most divisible currency in monetary history.
  • Transferable - BTC eclipses all earlier currencies / coins through the instantaneous transferability to any place on the earth.
  • Security - just as gold retains value in the close proximity of the holder, BTC is storable in the human mind via private keys.
  • Peer-to-peer networks bypass the archaic / draconian SWIFT system, returning value to the participants.
  • The guest / host pose the questions to the listeners: Does the crypto revolution represent a real-time, de facto failure of global fiat currencies.
  • Where is the value creation in fiat money that can be generated in infinite amounts, relative to bounded Bitcoin / Altcoin?
  • An alternative to expensive crypto currency fees and delayed times examined includes InterZone (ITZ), which costs a fraction of a dollar, has nearly instantaneous truncations with virtually non existent fees.

Guest Bios

Charles Hughes Smith

Of Two Minds

Charles Hugh Smith pens the Of Two Minds blog that involves a wide range of interesting issues including investing and finance. Of Two Minds has a wide audience of over 200,000 individual hits per month. He is also a contributor to the Daily Finance and has written eight books.

My blog.

John Embry

Sprott Asset Management LP

John Embry joined SAM as Chief Investment Strategist in March 2003, with a focus on the Sprott Gold and Precious Minerals Fund. He plays an instrumental role in the corporate and investment policy of the firm. Mr. Embry, an industry expert in precious metals, has researched the gold sector for over thirty years and has accumulated industry experience as a portfolio management specialist since 1963.

After graduating from the University of Manitoba with a Bachelor of Commerce degree, John Embry began his investment career as a stock selection analyst and Portfolio Manager at Great West Life. He then became Vice President of Pension Investments for the entire firm. After 23 years with the company, John became partner with United Bond and Share, the investment counseling firm acquired by Royal Bank in 1987. John was named Vice-President, Equities and Portfolio Manager at RBC Global Investment Management, a $33 billion organization where he oversaw $5 billion in assets, including the flagship $2.9 billion Royal Canadian Equity Fund and the $250 million Royal Precious Metals Fund, the #1 ranked fund across the country for its 2002 net performance of 153%.

For more information about Sprott's award-winning investment professionals and their market insights, please visit us at or contact us at

To visit the website please:click here.


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