Jonathan Wellum Makes the Case for Gold as a Debasement Hedge

On Last Call, Chris Vecchio welcomes Jonathan Wellum, founder and CEO of ROCKLINC Investment Partners and a longtime value investor who now holds roughly a third of his portfolio in precious metals. His core argument: with the 10 and 30 year yields pushing toward and past 5 percent, the sheer size of US government, corporate and personal debt starts to strain, and that math is exactly why he wants to own gold and silver as a hedge against debasement. Wellum also makes a value case beneath the surface of an AI-obsessed market, pointing to solid businesses trading at single digit earnings multiples with real cash flow. He argues the market is deeply bifurcated, not uniformly expensive. Views are the speakers' own. Education, not a recommendation. 📊 tastylive: https://www.tastylive.com/ 📰 Get Tom's pre-market analysis every morning: https://www.tastylive.com/newsletters 📘 FREE Options Strategy Guide: https://tinyurl.com/bp9ms763 📱 Follow tastylive on X: https://x.com/tastyliveshow Chapters 00:00 A big test for macro investors 01:00 How much stress can stocks absorb 02:30 Is 5 percent the key level 03:30 Where he still finds value 05:00 The debt math at 5 percent 07:00 Why he owns precious metals 08:30 Debasement and inflation ahead 09:00 The impossible task for policymakers #tastylive #gold #preciousmetals #debasement #silver #interestrates #usdebt #valueinvesting #optionstrading #stockmarket tastylive is a real financial network, producing hours of live programming every day. Follow along as our experts navigate the markets, provide actionable trading insights, and teach you how to trade. With over 120 original segments, and over 25 personalities, we'll help you take your trading to the next level, whether you are new to trading or a seasoned veteran. tastylive content is created, produced, and provided solely by tastylive, Inc. ("tastylive") and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, digital asset, other product, transaction, or investment strategy is suitable for any person. Trading securities, futures products, and digital assets involve risk and may result in a loss greater than the original amount invested. Investment information provided may not be appropriate for all investors and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. Options, futures, and futures options are not suitable for all investors. Prior to trading securities, options, futures, or futures options, please read all applicable risk disclosures, including, but not limited to, the Characteristics and Risks of Standardized Options Disclosure and the Futures and Exchange Traded Options Risk Disclosure Statement found at https://tastytrade.com/disclosures/. Past performance is not indicative of future results. Performance is not presented net of all commissions, fees, and expenses. Multi-leg option strategies incur higher transaction costs than single leg trades as they involve multiple commission charges. Examples provided are for illustrative, informational, and educational purposes only and are not intended to be reflective of results you can expect to achieve. Supporting documentation for any claims, including claims made on behalf of options programs), comparisons, statistics, or other technical data, if applicable, will be supplied upon request. tastylive, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. tastylive is not a licensed financial adviser, registered investment adviser, or a registered broker-dealer.