Nick Hodge,
Publisher
Oct. 22, 2024
A billionaire hedge fund manager has piled into gold ahead of the election.
He says he’s scared of a Kamala victory.
This billionaire cited three cracks in the American system that are converging to create THE perfect storm for gold, and he now believes a crisis much bigger and more fundamental than 2008 is about to unfold.
In a recent interview, which got little fanfare, he mentions three cracks forming in the American system.
Combined, they could trigger a “gold panic”… a shift from fiat money to bullion. They include:
- The End of the Dollar’s Hegemony — as the BRICs seek to challenge American power by replacing the dollar with other currencies, including gold.
- The Central Bank Gold Buying Frenzy — as global central banks replace a record amount of dollars with gold.
- The end of the American Empire — as our allies, like Israel, are besieged, Russia gains power in Europe, and our military withdraws from critical strategic locations like Afghanistan.
And he concludes that “you’d be better off keeping your investment reserves in gold at this point.”
But what he didn’t mention is how he’s buying those gold reserves.
And it’s not bullion, big miners like Barrick, or even futures.
He’s moving in on one virtually unknown tiny gold stock instead.
And we put all the information on it together for you here.
Regarding a Kamala Harris victory specifically, he said that if she wins he “would pull my money from the market” and “I’d go into cash, and I’d go into gold because I think the uncertainty regarding the plans they outlined would create a lot of uncertainty in the markets and likely lower markets.”
He cited plans to implement price controls and introduce new government spending programs.
But his biggest concern is her tax plan that would raise the corporate rate as well as tax unrealized capital gains.
He didn’t mince words about what he would do if those taxes became reality under a Harris administration:
“I’d be very concerned if Harris is elected and pursues the tax plans and other economic plans that she articulated. I think it would result in a crash in the markets and a pretty quick recession. If Harris was elected, I would pull my money from the market,” he added. “I’m going to cash and I’m going to gold.”
Indeed, this billionaire has already loaded up on gold ahead of the election.
We did a deep dive on one of his largest gold positions.
It’s a stock that you can buy, too. And it has already tripled in the past few months as it awaits non-election news by the end of the year that could send it much higher.
But with gold already at record prices near $2,700 per ounce, we expect shares of this gold miner will soar no matter who gets elected next month.
Call it like you see it,
Nick Hodge
Publisher, Daily Profit Cycle