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Gold has not yet reached the ceiling! Three well-known 'big bears' are making big bets

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Three investors known as' big bears' suggest that investors should buy more gold for long-term holding.
The "big bear" traders Danny Moses, Vincent Daniel, and Porter Collins are all known for shorting the real estate market during the subprime crisis. They stated that gold is one of the most important long-term investments in their investment portfolio, and they are currently focusing on this strategy.
Collins stated in an interview that this is mainly due to the continuously rising debt levels in the United States, while Daniel added that they believe the US dollar will "depreciate significantly" in the coming years.
This is too much, "Collins said when talking about the speed of government borrowing." Think about that one dollar in your wallet. How much is it worth tomorrow
The new data released by the US Treasury Department on Monday afternoon showed that as of last Friday, the size of the US treasury bond had exceeded 35 trillion US dollars, the first time in history. By contrast, in January this year, the size of US treasury bond bonds just exceeded the US $34 trillion mark; Last September, it exceeded 33 trillion US dollars; Forty years ago, the size of US treasury bond bonds was about 907 billion US dollars.
This further reflects the issue of rapid borrowing that economists have been concerned about for decades. Economists have repeatedly warned that rising debt levels may make buyers more hesitant, which could exacerbate inflation and damage the value of the US dollar.
Collins and Daniel are co founders of Seawolf Capital. They wrote in their annual letter to shareholders, "We are neither bearish nor bullish at the moment, but we see a slight slowdown in the economy and we will continue to hold net long positions in gold, which is a strange combination of special bullish ideas. We still have a strong outlook on gold, gold miners, silver, platinum group metals, and Bitcoin
These assets will support our theory of dollar depreciation. Over the past four years, this theme has been intermittent, but we have bought almost every pullback, "they added.
Moses Ventures founder, Moses, stated that he holds "significant long positions" in Sprott's physical gold trust fund, which holds physical gold bars. According to Sprott's website, the trust fund aims to provide investors with access to gold without the inconvenience of direct investment.
Collins added that gold outperformed US treasury bond bonds in "any time frame" in history, indicating that gold is a superior investment.
"I don't think Americans have enough gold in their portfolios. I think that after... one, two, three, five, ten years, you will earn much more on gold than you will earn on U.S. treasury bond bonds. I don't think that will change," he said.
So far this year, the price of gold has risen by over 16% and reached a historic high of $2488.40 on July 17th.
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