Russell Clark spent roughly a decade running a fund that was net short equities, which makes him an unusual gold bull. He traces the position back to 2022, when Russian reserves were frozen and every reserve holder had to ask what else it could safely own. He explains how he expresses it, pairing a bearish treasury position against long gold rather than owning either outright, why the Japanese government bond market is the first thing he checks every morning, and why being bullish gold does not require being bearish stocks. His views are his own. 📊 tastylive: tastylive.com 📰 Get Tom's pre-market analysis every morning: tastylive.com/newsletters 📘 FREE Options Strategy Guide: tinyurl.com/bp9ms763 📱 Follow tastylive on X: x.com/tastyliveshow Chapters 0:00 Welcome and the tape 1:23 The decision that started it 2:06 Why China had no alternative 2:48 The blowout earlier this year 4:00 Watching it move on air 5:08 Outsized moves invite selling ...