Show notes
In the first episode of 2026, George Cooper and Gerald Ashley examine the persistent “debasement trade”: fiat money weakening while physical assets surge. They revive the “Savoy Gold Dinner ratio,” a metric from the 1970s/80s created by gold mines fund manager Julian Baring. In August 1971—days after Nixon closed the gold window—a comparable Savoy Grill dinner cost £5.67 per head. With gold at $40/oz (£16.66/oz at the fixed rate), one ounce bought roughly 3 dinners. At their recent meal on th...
