8/1/2025

Aug 1, 2025

My Dear Friend & POTUS, DJT,

                  Is gold in your portfolio? If so, what percent of your assets do you keep in AU & where do you keep it? In previous letters I have requested advice on whether to store some bars under my bed, keep some bars in a bank or just have Vanguard keep track of it electronically.

                  My gold investment is top of my mind after reading Robert Reich’s warning that “the financial bubble will soon burst.” He presents a compelling argument that, “It’s starting to feel as if the financial economy is no longer moored to the real one,” & AI may be to 2025 what sub-prime mortgages were to 2008, where no one understands the instruments they are investing in. That’s why I am going for gold. It is a tangible asset that I can conceptualize.

                  If you haven’t noticed, I am a literal person & am sensitive to ambiguity. While I embrace the idea that God is Change & do my best to go with the flow, I am well aware when things don’t make sense to me & don’t pretend that they do. I like to have a comprehensive theory that accounts for as many variables as possible when describing the complexity of a situation. Which, by the way, is driving my colleague crazy as we try to complete a couple of manuscripts.

                  Since I need to get busy on those manuscripts, I will abbreviate my usual suggestions to two items.

1)        Cut Canada & Mexico some slack in making your trade agreements. Maintaining reciprocal dependence on next door neighbors is mutually beneficial.

2)        Do not cut MAH any slack & emulate Japan by making a statement of concern about the upcoming elections. Here’s some text in case you want to copy & paste. "seriously concerned," "further strong backlash from the people," & "make a peaceful resolution more difficult"

BYBS,