New Gold Standard Actually Seems Like A Possibility Today-Here's Why
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- เผยแพร่เมื่อ 16 พ.ค. 2024
- Steve Forbes explains how a new gold standard may be taking hold across the globe, and why this is a very, very good thing for the economy.
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Good........ America never should have been taken off the gold standard
Thanks to the inventor of everything; England. First for everything
@@theflaca Right, like central banks.
Nixon...
They got busted. They were thieves. It wasnt a choice to be taken off the gold standard.
@@randyosborne3971 yes it was
Fiat = debt ponzi
Gold = real money
Steve Forbes = based
The easiest way to crush inflation is with the gold standard.
So then why don't you buy gold?
@@wilfdarr Who's to say I am not? Note, in the absence of the gold standard it is a hedge against inflation,but it is more practical to buy things like silver. Note the inverse relationship between the value of the dollar and gold. It is because we have not yet figured out how to print gold like fiat currency.
@@secuervo China owns 10.6% of the world's gold production, Russia owns 10.3% (first and third place respectively): why would you want to tie our currency to a product that our adversaries (bricks) control more than a quarter? Wouldn't it be better to keep both gold AND a fiat currency that they have no control of? This is the system we have and it's one I'll fight to the death to keep! Anyone who wants to tie our currency to gold is an agent of China or Russia!
Global elites would want nothing more than a Gold standard.
@@wilfdarr I dig gold!
Zimbabwe is back on gold currency and is doin good 👍
Since 1971 gold has went from $40 per/oz to $2350 today. While the dollar has lost 87% of its value. I wonder why?
So,. what does that make one dollar bill worth..?
So buy gold! No one is stopping you from trading your paper for gold!
@@wilfdarr trust me, we been doing that for years and still no stopping =]
Because of debt Fiat currency system. Money. Created from thin air. By the Federal Reserve Bank
@@lightyplays3390 For sure! We have the best of both worlds, that's exactly my point! Gold is secure BECAUSE we have a fiat currency which makes it inefficient for Russia and China to expend the resources it would take to manipulate gold. But if we had a gold backed currency, then not only would it be a far more efficient way for them to attack us, they have the power to do so with China holding 10.6% of world gold production and Russia holding 10.3% (first and 3rd in the world respectively).
We need the gold standard! Ron Paul was right!
all fiat 💲 currencies eventually become worthless, however gold is eternal, folks 😁
Gold should be at 100 000$ relativly to the debt created
💯
Just look at the debt clock.
They have been yelling gold standard for months now ..
Let's DO THIS!!
Gold will hit 7000$
BRICS is buying it up too, I think it will eventually go higher than that. The world is buying... except for the masses in the west who get hoodwinked by the legacy media...
It definitely will. At some point.
Could hit 50 000 per ounce
@@rogerburn5132 not if paper golds still traded on 10% of its values. When paper golds trade with 100% of it values gold will hits $70,000.
Gold is a Tier One Asset 2019 - BIS
Under the Basel III Accord released in March of 2019 by the Bank of International Settlements, Monetary Gold Bullion now qualifies as a Tier 1 asset, and is 100% valued for the purposes of banking viability. Prior to Basel III, only US Treasuries were treated as Tier 1 Assets. International settlements were only done in US Dollars.
Another point to consider is that under the Basel III Accord, SIFI’s (Systemically Important Financial Institutions) are now “required to quadruple their reserves” when compared to the previous minimum requirements before the banking crisis March 23, 2019. Which Tier 1 asset would you prefer to hold, Gold or US Treasuries, when US Treasuries are losing value at the whim of US politicians. I’d choose Gold and short the Dollar!
Since that stance taken by the BIS in 2019, the world Central Banks, other than “Western US Dollar Denominated Institutions”, have been acquiring gold bullion by thousands of tons per month through a price differential arbitrage. Gold and Silver both sell for more on the Shanghai Exchange than the London or COMEX Exchanges. Gold is flowing from West to East.
When the US Dollar is dethroned as the World Reserve Currency, the likely replacement will be Gold. Those Countries with large Gold reserves will be making the decisions on world trade and currency valuations.
The United States and the Western Euro-NATO countries have not been hoarding Gold and have very low amounts in sovereign vaults. Canada has nothing and Britain is Gold poor as well.
It may not be long before the BIS (Bank of International Settlements) declares that the US Dollar is no longer a Tier 1 Asset, but now a Tier 2 or Tier 3 asset. This would remove World Reserve Currency status of the US Dollar and countries around the world will have no interest in holding US Treasury Reserves. All of those Debt Dollars would then be traveling back home to hyper-inflate the US Currency into oblivion. The “Great Reset”.
Think of it as your 850 perfect US Dollar Credit Score being degraded to a marginal 150.
🎯🎯🎯
That's why they want a war with Russia China, they want all there gold
Excellent post. Thanks for sharing this info. 👍
Well despite the comments to the contrary... I think Steve is on to something...something has to become worth something. The paper dollar and Crypto cannot be the only options.
Limitless money printing is not sustainable. Also it is the number 1 root cause of all the environmental and social problems. Digital currency backed by physical gold and silver.
We're ready for it!!! Let's go!
Also keep in mind Cash can be backed ONLY by Gold whilst Currency can be backed by GDP
Cash in the past, Banks would exchanged with Gold or Silver.
You can still go online and change your currency for gold, for free. Straw man.
🤞🤞back to the gold standard🤞🤞 What ever happened to the executive order calling for a return to the gold standard???? Was signed by Trump while he was in office…. Where did that go?!!
Because he never actually signed an executive order bringing back a gold standard that’s why
No chance because Gold standard Will. Stop the US government printing and spending dollars like there is No tomorrow
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This guy could be president.. he reads the teleprompter better than Biden 😂
After the gold standard seized markets rose. People were like “wow. Should have done that sooner”. Some understood the rise fir what it was. A decline
><
nations are sick of imported inflation again and again (because of Over-Printing U$$D), disrupting their economic growth...
while us enjoy their spending spree without feeling guilty/shame for the world...
world-wide de-dollarization is inevitable and imminent, or is it?
Digital gold alongside physical gold. You can have gold on deposit with a debit card for access or you can carry gold and silver coins the way we currently carry cash. This is only complicated for the corruption class that wants to keep ripping everyone off.
Gold: doesn’t tarnish, can’t be destroyed, literally lasts forever with no decay or devaluation….
Oil: finite resource we literally burn away at the highest rate of any raw material in all of history…
😮😮
I mean it’d be ludicrous if it weren’t so ingeniously sinister…
Also, Henry Ford designed his engine to be run on ethanol, Rockefeller just had a bunch of gasoline leftover from making kerosene so they got in bed together and switched to the non renewable. How convenient if you eventually wanted to institute a fiat based world bank. And we shall all bear the mark of the beast should that world bank become truly 100% global. 666.
Modern Investors want a Modern Precious Metals Market. 🐴
I'm hearing BRICS will be a blockchain currency.
Probably not a bad idea to buy some when it comes out. I have a feeling that if a bunch of countries switch to BRICS and get out of USD, we may see the dollar fall in value, which would make BRICS climb in value compared to USD. May not happen right away, but likely not a bad idea to have some in case it does.
Of course financial people dislike gold. It's real, physical, tangible... and limiting. You can't just pull some out of your ear.
Fiat is a fairy tale. A fiction where wealth is calculated by limitless unsecured debt and real value has no place. It's easy to manipulate and the whole time someone is doing the manipulating, to them, Fiat is the best. When someone else is doing the manipulating, all of a sudden, gold backing is the demand.
Making everyone believe you have the biggest stick is great until you need to hit someone with it. Then you wish you actually had a stick.
Always level headed thinking. Been a fan for many years, Steve. I think we should get back to the gold standard but it seems to me that what’s preventing that is special interests. And the biggest ones are the government itself and the MIC. The fiat system made them rich and powerful so they don’t want to change. But we have to do something.
Didn’t we promise to safely hold the gold of the dollar adopters, then deny them access to exchange it for fiat we issued?
nothing like the gold standard to throw 25 million people out of work
Why store value in gold? Since gold supply cannot keep with actual wealth (asset) creation, its price must necessarily inflate. People would rather store value in real assets like real estate or other property than gold. Fiat currency we created to maintain stable prices otherwise a gold standard would be deflationary. This can be achieved, if the central banks have the will.
in order for someone to be on a gold standard its citizens need to want to own gold
who tf wants to own gold today?
How much gold did the Special Forces recover from under the Batican?
We have an implied gold standard. One only look at the rise of Gold prices commensurate with the printing of dollars.
If it was Gold standard the price of Gold should be 50 000 dollars per ounce or more to account for all. Printed dollars. 2350 dollars per. ounce is just a joke
GOOD ,,, sooner the better
Finally 1 smart human being
Very true information USA government should take Notice .
Unless we the peoples remove corrupted governments from offices.
The US left the gold standard because of their debts. How could they go back on now? They need inflation.
Rainbow backed currency would be far better... Back the dollar with US GDP, plus precious metals, natural resource and assets. It's all about production! It would incentivize our politicians to make policies for the US to produce goods and services. Energy independence is the key.
And peg silver at 20 to 1 and leave it there ! That will cut down on cruise missiles that require 500 oz. Of the shiny gray metal.
Good video. I think it will take some kind of a currency crisis to get us back on the gold standard. Maybe it will take the form of a gold backed Chinese currency?
You mean more than the CURRENT crisis??
What about the Great Depression of 1929-1939? That was more than a recession! Or did I misunderstand what he said?
🙏🏼🙏🏼🙏🏼❤️
I saw someone saying they would have to revalue gold at 20,000 per oz if we went to a gold standard. Wouldn’t that essentially destroy everyone’s savings and cause immediate hyperinflation of all goods?
that's why you want to own gold and silver
ALL countries, virtually, are now "backed by metals". Huge demand for it, but they all can because of the largesse of the uS guberment returning the gold that the Batican stole from them, all neatly labeled as to where they got it. Didn't have to, spoils of wear. But we have the most, right now, in the world.😊
Dollar savings will be destroyed.. no doubt.
Gov. Have to buy diamond, platinum and leave gold and silver for comman people
0:07
WWI U.S. inflation rate was about 15% per year. Bimetallism didn't work either.
Gold and XRP. The ONLY investments.
Ur welcome
That's a dumb idea: just trade your fiat paper for gold. There's platforms that will let you do it for free. Then trade it back when you want to spend it.
All of your holdings should be diversified anyways: some real estate, some of your own currency, some foreign currency, some energy assets, some mineral assets, some shares in manufacturing, etc ad infinitum.
Nations like China and Russia will always try to manipulate gold backed currency, and if bricks decides to use a gold backed currency NATO will manipulate that. No one is going to use a gold backed currency
There is a reason we had to get off the gold standard.
1. Gold is slow.
2. Gold is hard to verify.
3. Settlement is expensive.
Our modern age requires modern solutions.
Bitcoin is still early, hence the volatility, but it is slowly repricing everything, and it can not be stopped.
Wider adoption of bitcoin will reduce its volatility long-term, and the adoption rate is promising.
Won't happen.. can't run global commerce with a transaction speed of only 2000 per minute.
but wasn't it illegal to own gold back then?
Only from 1933 to 1971. And there is real question whether that law was constitutional. The constitution spells out that gold and silver are legal tender.
@@muhlenberg2608 Where does the U.S. Constitution spell out that our fiat paper dollars are legal tender? Oh, it's written on the paper dollars themselves.
@@JustSayN2O My point was, gold and silver were the only legal tender for most of US History, and even before.
only the people that were stupid enough to comply... isnt it odd the same year we went off the gold standard is the same year it was no longer illegal to own it???????????????????
@@chrisfisher1100 Actually not. The US went off the gold standard under Richard Nixon on August 15, 1971.
Gold was not legal for US citizens to own Gerald Ford made it so in late December 1974 (effectively 1975).
A more interesting "coincidence" was the Fed coming to be in late 1913 and, oh, by the way, the US income tax being adopted in that same year.
That was a tax of 3% on all income above $10,000 per year, a figure that only the very richest of Americans could reach. Just look at it now! 🙄
INDONESIA HARUS MULAI MENGKOLEKSI EMAS DALAM NATIONAL RESERVENYA.
No, never
Gold is the best way to have an economy. The US lost its way when we left the gold standard. Why do you think BRICS is doing so well? There's no federal reserve to mess with the currency.
@@nopers369 not flexible enough. I don't disagree with a standard but it's not gold
@@DavidWebsterAD Could you explain what you mean by 'not flexible enough'?
Theres a reason some countries, banks and individuals have been buying it up since the 2008 GFC. Obviously it's because currencies have been losing value at ever increasing speed.
@@ace9840 yes because if holds value in times low government confidence. Not a reason to peg gold to currency.
Gold mining stocks
Gold stocks are undervalued compared to gold prices, wait for earnings and gold stocks will skyrocket and not to mention bad market news that will blast them higher up!! Buy GOLD STOCKS…
No gold buffalo give away?…… C’mon Steve!
Countries will attempt to peg their currency to gold but who can trust a government that they would have the gold to back it up. It’s about trust and no government has that amount of trust by the people.
The fly in that ointment comes from the fact that trust is EARNED, not given.
You should have run again!
So how much is one American Dollar bill worth..
Let's say in pennies.?
Nobody ever says..????
I wanna know.. what i'm really making per hour At my job. Is it..20$ or 5 cents an hour..?
It is legal tender, not currency. Read the top.
@@dertythegrowerIt's a Fiat Currency... better to remain silent and be thought a fool than to open your mouth and remove all doubt
1 USD = 1 USD
= 1.37 CAD
= 0.000427723 XAU (gold ounces)
= 0.0121065375 barrels of oil (West Texas Intermediate)
= 0.0000001 Abrams Tanks
Etc etc etc. Just look up what you want to trade it for.
some argue its 3 cents to the dollar.... so say .03 times and 8 hour shift....@ 20 bux per hr = .60, thats what you are being paid if true.... 60 cents per day
It’s lost 98% of its -
“ purchasing power “ since 1913. But gold and physical silver have NOT lost their purchasing power since the Federal Reserve opened up .
Facts .
Gold Standard doesnt work. The only way is Bitcoin Standard
Why not try Bitcoin standard?
Did an official Souce in the west say that they are interested in this? I can find no article about this. Only BRICS nations talking about it. Not the FED or something.
Of course the “FED” didn’t say or confirm anything on this. Going back to a gold standard would essentially put and end to the “Federal” Reserve system
@@user-sj7fu6es3y Then why is Forbes say it?
@@user-sj7fu6es3y Yep, not federal and no reserves!
*Let us all see next episode... where Steve converts 51% of his wealth into gold bars.* Will it happen?
My guess: he bought a stack of gold, now he's going to talk it up, then sell it, then talk about how it's falling and people shouldn't rely on gold, then buy... so much "investment advice" on TH-cam is just P&D schemes.
The late Jim Sinclair(Mr Gold)
Said China has accumulated 50,000 tonnes of gold.
Any gold revaluation/ standard will come from there.
America has about 8,000 tonnes
"America has about 8,000 tonnes"
Do they? Somehow, depending on an audit of US gold holdings from 1955 doesn't even come close to passing the smell test.
@@edb3877 Your right, I think when a new monetary system comes about, America will have to do a audit of their reserves, to show wether they have what they say
You old guys can use gold while the rest of us will use Bitcoin
I almost, for a second thought this was Dana Carvey doing another SNL grumpy old man skit.
I don't think the United States can go back to the gold standard. We owe so much money we don't have enough gold to cover the debt. Gold would have to plummet in price for the US to go back to the gold standard.
Actually gold would need to be repriced way higher
@@scott1572 Explain to me how the government would pay the debt if we went to gold and it were higher priced. Where is the government going to get the dollars to pay for the gold? Stupid...
@@O.D.B.420
The USA is the highest owner in the world concerning gold in Ft . Knox and West Point .
If gold got revalued from $2,400.00 to a much higher number , it could repay our national debt . The USA would hold no gold reserves after that , and the dollar value of an ounce would go to higher numbers going forward .
That is actually being spoken about .
@@rudeawakening3833 I guess we see things differently. Either way something drastic would have to happen in order for the US to convert back and I don't see that happening anytime soon.
@@O.D.B.420
I so appreciate your respectful answer .
I obviously own no crystal ball . However the simple FACTS remain as the “ true insiders “ , the Central Banks are presently , and for a number of years now , are stockpiling physical gold feverishly .
You might look that up , and see for yourself that the Central Banks GLOBALLY are , and have been up to
“ something “ , and it does NOT include the US dollar .
In closing , there are many economists globally , that all agree , that there is a process known as
“ de dollarization “ taking place .
Peace ☮️
Govts will only give up their money control if the govt is burned to the ground. A gold currency is unlikely. Let's see how Zimbabwe does
The governments gave that upas soon as they allowed Central Banks to take control of the currencies decades ago.
Zimbabwe can't balance a checkbook any more than Venezuela can
@@muhlenberg2608 Never seen a country yet balance a checkbook running on a debt based fiat currency.
Zimbabwe is about to get some good Ole fashion democracy coming there way if they don't drop that gold nonsense. We'll democracy the crap outta'm
@@ace9840 We're on the verge of a global debt crisis. The founding fathers wrote gold and silver into the Constitution to keep us out of a pitfall like this.
OMG this is like listening to a rant from grandpa! So many errors...
If you want to tie your wealth to gold, buy gold. But don't tie my wages to a metal controller by Russia and China (together they hold 21% of the world's gold production with China in first at 10.6% and Russia in third at 10.3%)!
Steve, Bitcoin doesnt go up, it's pretty stable. It's the Fiat falling in relationship to BTC... ;)
A quick glance at Bitcoin chart shows it has wild fluctuations.
XRP stable coin
A gold standard would be deflationary.
That’s right what we want but not them
Wrong depending on the price of Gold. and deflation is better than Hyperinflation.
@@garryallison4716 So any asset you purchase will tend to be valued less, in gold, the longer you hold it.
@@bobthrasher8226 no because we have inflation, it would iron out over time so as we don’t have any inflation. But let’s face it the scum that run things won’t allow a gold standard proper, if they did they would somehow manipulate it. It looks like CBDC for you and me. Digits on a computer are so much more convenient
Too much gold silver bullshitt on TH-cam
😂😂
And that gold is called Bitcoin.
Bitcoin is a Ponzi Scheme.
Steve Forbes needs to go lie down and take his I'm so old I'm going to die pills.😒
After 2 world wars, I thought people would had learn their lesson. Steve Forbes is a prime explain of you cannot teach a old dog new tricks.
China has owned Forbes for a while now.
@@nopers369You know what else China owns? Top spot of the world's gold production at 10.6% 🤔