Jason Trennert

Well, Steve, thank you so much for having me on.

I will say I want to correct you on two things.

One is I'm not in Scott Besson's league.

And second, I have to say I am a little bit of a gold bug to the extent to which I'm long gold, my personal accounts.

And we've been long gold in our ETFs.

SAMT, Strategas Macrothematic Opportunities Fund, which has as its base, one of its themes is de-globalization.

Gold is going up.

yeah no i'm trust me i'm you know i've built my entire career out of paper you know out of uh financial assets as opposed to hard assets so i'm a big believer uh in that obviously but i do think there are times when gold comes in handy and i think

this is one of those times because the US has absolutely, in my opinion, there's no chance of the US losing its reserve currency status.

So put that aside.

I do think, though, because of a variety of reasons, one is just

the accumulation of debt in the United States and other fiat currencies that people want to hedge against paper, against debt with a hard asset like gold.

So I think that's one reason.

A second reason is, and I have no sympathy for these guys, but there's a lot of bad guys and oligarchs that looked at what happened to their own

holdings after Russia, Ukraine, in which the US largely seized their assets or made it very difficult for them to transact business.

And people are a little bit worried about that.

And so central banks, some of the bad guys, want to diversify their holdings out of dollars and into other

other currencies or gold.

All currencies, by the way, are rallying versus gold.

Excuse me, they're decreasing versus gold.