Briton Hill is the Vice President & Managing Partner of Weber Global Management Investment Advisory Services. The firm’s focus is the preservation of wealth, maintaining and improving a client’s current lifestyle, and helping to create their ideal retirement and legacy.
“My story with Gold and Silver began in 2002 when I was just seven years old. At the time, I didn’t understand the value of sound money, but that didn’t stop me from accumulating a substantial amount Silver Eagles and 1/10oz Gold Eagles over the next 8 years. When the 2008 global financial crisis shook the markets and sent asset prices plunging, Gold rose nearly 5%. I was only thirteen, but watching gold hold fast in a crisis profoundly shaped my perception of investing.
By the time I turned 16, I’d ridden a major bull market in the precious metals’ universe and had closed out many of my positions. This wasn’t because I felt Gold had lost its “luster” – quite the opposite, actually. The Fed had poured trillions of dollars into the US economy through quantitative easing to prop asset prices and stabilize the economy after the financial crisis. If anything, this fiat money creation should have been a wind at the back of the precious metals sector. But I felt things had risen too far, too fast. I took the advice of market veterans and sold.
After investing in other sectors and studying the markets closely, in early 2016 I re-entered the precious metals’ world and found myself riding a second precious metals’ bull market. Between these two bull markets, I had become independently wealthy from my investments alone. In 2017, I was fortunate enough to meet a longtime idol and mentor, Chris Weber – a legendary investor and newsletter writer who made his first fortune in precious metals in the 1970s. Our shared success and passion for the markets led to a wonderful partnership and the formation of Weber Global Management.
This year (2020), in the face of Covid-19 and the pandemic’s economic fallout, gold has been the foundation of everything we’ve done for ourselves and our clients. I think it’s only a matter of time before we see record highs, in USD terms, for gold. People who have a base currency other than the USD have seen this happen already, usually shortly after zero to negative rates arrive. To me, this is a sign that bondholders — the wealthiest and most sophisticated of all investors — are beginning to transition from bonds (paying a fixed amount of a now weaker currency) to something far more sound. Asset protection is the name of the game, especially for the ultra wealthy. The changes we’re witnessing are propping up precious metals prices around the globe, while global currencies get weaker.
As we see the central banks of the world create trillions of unbacked dollars, pounds, euros, etc. to prop up their economies, we can rest soundly knowing that our wealth or the wealth of our clients cannot be debased. Our purchasing power will remain intact. People who save their money in currencies will watch their purchasing power and standard of living slowly evaporate over time, especially with zero yields to provide them value. To me, the answer is simple: Hold gold and keep saving. We now have Glint, which makes spending gold practical and as easy as swiping the debit card from your local bank. The only difference is, your money is gold-backed, because, well, it’s gold. And that makes all the difference”.
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