Keiser Report via Youtube
Stacy Herbert and Max Keiser in conversation with Mark Valek. This is not the first time that Mark Valek appears on RT for the well-known Keiser Report to talk about recent events in Gold and Bitcoin. The rapidly rising gold price and related events were the topic of discussion this time.
How much further will they fall?
The question is not, how much more will gold rise? Rather, the question is how much further the world’s fiat currencies will fall. Mark uses a few examples to illustrate how absurdly high the amounts of money recently pumped into the market are. Of course, this does not remain without consequences. A good example would be the already rising consumer price inflation.
A long process
The dollar as a reserve currency is increasingly being questioned. Now even Goldman Sachs has announced that the dollar as a reserve currency may be coming to an end. As we have mentioned before, this is the slow process of de-dollarization, as described in this year’s In Gold We Trust Report.
As with oil, there are always voices saying that we have reached the peak and that the planet is now running out of gold reserves. But as with oil, there is always the possibility of discovering new deposits. In the long run this statement is true of course, but the annual amount of gold produced remains very constant and therefore it cannot be said that the peak has been reached.
Bitcoin, an Austrian solution
Max Keiser sees that there are many in the Gold Bug circles who don’t like Bitcoin. Bitcoin is trying to do exactly what Hayek described in the 70s with the de-nationalization of currencies. Bitcoin is also trying to create a deflationary currency. It’s a very Austrian solution.
The third phase has been reached
It all fits together, plain and simple. The huge mountains of debt, the huge interventions by central banks and governments, and the fact that gold has made it back into the media. There is no doubt that gold is in phase three, the bull market.
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