Alexander Campbell, founder of Black Snow Capital, returns to Real Vision to review his bullish outlook for gold and to update his options trade on $GLD. He updates his bearish thesis for China, notes the mounting pressures facing their banking system, and discusses why gold should continue to outperform when denominated in Chinese renminbi. Campbell also presents a hedge trade - shorting bonds through options for a more sophisticated degree of insurance. Filmed on October 22, 2019.