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Top Three Videos – October 13, 2023

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Debt, Currency Debasement, Inflation & War—History Repeating Itself

Gold Switzerland...

Summary

In a risky global situation with excessive debt, inflation, and the possibility of war, gold is a valuable investment that can protect against currency debasement and maintain stable purchasing power.

Key insights

  • “Gold is massively undervalued and has been unloved… I think it’s going to be loved by the world in coming months and years for the simple reason that we will have a lot of unrest in markets.”
  • The speaker emphasizes the importance of gold as a long-term wealth preservation holding in the face of currency debasement and inflation.
  • The closure of the Strait of Hormuz by Iran with the help of Russia could potentially eliminate almost 50% of the world’s oil, leading to a global disaster.
  • The process of dollarization, with China and Russia moving away from the US dollar and towards alternative currencies like the Chinese yuan and gold, is slowly eroding the dominance of the petrodollar.
  • Inflation and war have historically been concomitant forces, with governments using war as a distraction and a way to create a wartime economy, potentially leading to permanent ruin.
  • “It’s amazing how history repeats itself even in the last 50 years and if we can go back thousands of years.” – The speaker highlights the cyclical nature of events such as inflation, war, and gold cycles, emphasizing the importance of studying history to understand current situations.
  • The passing of Jim Sinclair, a man who understood the world economy, serves as a reminder to hold gold in the right place with total control.
  • Geopolitical stresses make us focus on what really matters, highlighting the significance of personal experiences and intangible aspects of life.

John Rubino: Financial Truths: Gold & Silver To Rock!

Soar Financially...

Summary

The US is facing a potential economic crash due to excessive debt and leverage, and viewers are encouraged to invest in gold and silver as a safe haven.

Economic Crash and Financial Crisis

  • A gigantic crash is virtually guaranteed due to the excessive borrowing and leverage in major societies around the world.
  • We’ve borrowed way too much money and a gigantic crash is virtually guaranteed because of that.
  • “We get a Slowdown because consumers Tapped Out are tapped out that leads to some crises in various parts of the financial sector which leads the government to have to bail everybody out which maybe leads to a currency crisis.”
  • The recession could turn into something much worse than a recession, as the tools that have been used in the past to bail out the economy may no longer work, leading to a panic and a need for the markets to clear based on actual asset values.
  • The potential crash in the economy could lead to a massive bailout of tens of trillions of dollars, affecting not just the US but also the rest of the world.
  • “It’s a really good idea psychologically to treat all this gloom and doom as an investment thesis because if you just look at how crazy the world is getting.”
  • “I’m creating portfolios of stocks and looking at techniques for shorting, because the financial world is going to hell and there’s going to be a crisis.”
  • “How do you position yourself in terms of your own life to be ready and resilient when things get crazy?” – John Rubino emphasizes the importance of being prepared financially and personally for uncertain times.

Investing in Gold and Silver

  • “Gold and silver are set to rock!” – John Rubino suggests that investing in gold and silver will be highly profitable.
  • Gold and silver have the potential to skyrocket in value during an economic downturn with high inflation, similar to what happened in the 1970s.
  • “It wouldn’t be a surprised to see $5,000 gold and $200 silver at some point in the coming cycle and if that’s the case then the the metals themselves are great to own and the mining stocks will just go crazy.” – John Rubino predicts a potential surge in gold and silver prices, making them lucrative investments and causing mining stocks to skyrocket.
  • Gold behaves differently in different currencies, protecting against a falling currency by going up in value in that currency, making it a valuable asset for preserving purchasing power.
  • “A lot of junior gold and silver miners are drilling, exploring, and coming up with some phenomenal numbers, finding really impressive resources.”

Geopolitical Risks and Global Instability

  • The US government is now run by “crazy neocon psychopath warmongers” who are willing to risk a nuclear war in order to maintain US dominance in the world.
  • “If the US starts bombing Iranian oil refineries which produce oil for China, China gets really into all of this as well, so that’s when it gets really really scary.”

Keith Weiner: The BRICS have a Bigger Problem Than the Dollar

Palisades Gold Radio...

Summary

The BRICS countries are buying gold and expressing dissatisfaction with the US dollar, but they do not yet have a viable alternative and their actions could have dangerous consequences.

Gold as a Monetary Asset

  • “There is no correlation between the gold price and interest rates, whether nominal or real, as they sometimes go together and sometimes go opposite depending on the market’s mood at that moment.”
  • Countries like Turkey and UAE are buying gold not only to protect themselves from falling currency, but also because they don’t see currency as inherently trustworthy.
  • The BRICS countries are using gold in more sophisticated ways, such as using it as collateral for loans and trading it against capital assets, while Americans have little knowledge or interest in gold as a monetary asset.
  • The idea of storing gold in a neutral jurisdiction and using it as collateral for financing trade could provide interesting opportunities for the BRICS countries.
  • The decline in bond prices, with the 10-year treasury down around 20-25% and the 30-year treasury down 50% since August 2020, highlights the impact of rising interest rates on bond investments.
  • According to Weiner, inflation is not the same as gold mining inflation, as the latter is an honest trade where the value of gold is recognized, while inflation involves dishonest borrowing without the intention of repayment.
  • Deflation occurs when borrowers are unable to repay their debts, resulting in defaults or negotiations with lenders to accept less than what was owed.

Role of Trust and Reputation in Financial Systems

  • “Buying gold doesn’t tell us what you’re going to do tomorrow, and the fact that nobody trusted you and you had to buy it tells everybody everything they need to know about trust.”
  • The stability of a free market relies on the rule of law, respect for property rights, and the right of contract.
  • England’s reputation for trustworthiness allowed it to become a global financial hub, with the rest of the world willing to hold their gold in English accounts.
  • The fundamental feature of the gold standard is honesty and financial dealings, as it forces the entire financial system to be honest and strips dishonest institutions of their funding.

Impact of the US Dollar on Global Economy

  • The rest of the world has to be aware of the dollar because they’re on the other end of the stick, dealing with its roller coaster and whiplash effects on their economies.
  • “The dollar is a big problem for us because the dollar was going down at that time and secretary Connelly snapped back at him well. It’s our dollar but it’s your problem.”
  • The US dollar serves as an intermediate means of exchange between currencies, even for currency pairs that do not have a direct market, emphasizing its dominant role in global trade.
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