A slowed down interpretation: In 1970 you had a one oz. of gold coin which cost about $65.00 and a brand new $100.00 bill... You sealed these up in a capsule and forgot about them until today... Well, today, you still got a 100 Dollar bill, but you now have a coin worth at least $1850.00 ... This is why you buy and hold precious metals....
Congratulations mate, you made $1785...in 50 YEARS. That doesn't factor in inflation by the way 🤣🤣🤣 Give me 50 years and I'll make millions or billions not $1785
Everyone forgets that the average life of a fiat currency is 40 years ... we're going on 50 years from Nixon unlinking gold from the dollar. Ever since, we've seen increasing runaway money printing and skyrocketing debt, skyrocketing debt service costs, etc. Gold has been a store of real wealth for 4,000 years. And, why are the wealthiest, central banks, governments stockpiling gold, and storing it in ultra-secure vaults like the one inside a mountain in Switzerland ...
JNS you are correct in all that you say except for one statement. The US Dollar currency began in practical terms in 1914 when it was first created. The US Dollar had many up and down cycles since then but the main crash was in 1971 when it became very low in terms of purchasing power. That’s why Nixon was told to release gold from being the backing of the US Dollar. Countries were demanding their gold back because the Dollar had failed. Instead a new agreement with OPEC (the brainchild of that arrangement was Ohmar Kadaffi from Egypt but few people know this and just assume it was the Saudis) was to go to the liquid gold of petroleum. This because known as the petrodollar. In US Dollar terms, gold and silver became the go to back up money anyways by investors and the public despite attempts by the international banking cartels saying otherwise. Anyone remembering the 1970’s and early 1980’s had high inflation.
That is the word....right there. You know why people keep asking? Its because they just can't bring themselves to see the truth yet, and are desperate some other reason.
@@nirtlocj It will go up. but the world is changing. there are better stores of value. Look how much money was printed globally last year and gold went up what 25%? Its a joke at this point.
@@dreamofice361 because the silver price is manipulated with paper contracts on the comex. Increased physical demand will trump those paper contracts and silver will be fair value.
If you're buying physical today at these prices you'll be doing very good in 10 years, ignore day to day noise. Metals an alternate to a savings account.
@@PreciousMetalinvest sure seems that way to this amateur. The minute I talked about silver a while back it blew up. Now I’m wondering about gold exactly why you mention
@@kwamebushman606 It doesn't matter if it doesn't stop. Price will get squeezed up overtime as there is only so far and so long you can push it down with paper. It's just delayed, that's all. If it wasn't manipulated, I couldn't have bought in at $14 so I'm not whining at all :-)
I’m predicting 25k gold and 200 dollar silver betwixt 3-5 years. I won a large bet that gold would hit $2,000 before the end of 2020. I was paid very well. I reinvested it on a few more ounces of AU. Best of luck to all. 🤞
And platinum! It has a high melting point so it is not ideal for minting into coins. That is why platinum coins should have extremely high face value. It is much rarer than gold. You could make the same case for Iridium or any of the other platinum group metals except for Osmium since Osmium oxide is toxic and you wouldn’t want to carry that around.
@@user-DongJ that's because they debase coins in circulation by pulling out valuable metals serving as coinage and replace valuable metal coinage with less valuable metals as the Romans did during the diocletian era esp.
@@SirRocalot - Ok. But they are still accepted as payments yes? So what makes valuable metals “valuable” back in the Roman days? Greed? Dreams? Hope? Envy? Politics? Religion? Superstitions?
@@siddharth0401 because this system is unsustainable and it will collapse and your eft’s will be worthless. Dig a hole under your house and vacuum seal physical and bury it. If you don’t hold it you don’t own it. People like you are perpetuating a corrupt system. Pat yourself on the back if that makes you feel good.
@@huemann7637 I don't fully agree with that logic, if it comes to that kind of doomsday where sov guarantees don't work then in that situation which individual or institution would be solvent enough to buy your physical gold
But Fauci said covid won't affect the USA, then said no masks, then said wear masks, then said no vaccine in 2020, and now says wear double mask. Pathetic.
Good interview. Reinforced my overall macro view. US has two choices as its endgame (in the next 2-6 years): let inflation run hot and devastate the its economy but cleans up its debt or raise interest rates and devastate the stock market and financial system. Gold will be good in either case
1:23 Great point by the guest, that gold nominal price does not go up in a vacuum. It means the dollar is losing purchasing power. 1:27 Look at gold as the metric in terms of the Fed Res’s balance sheet... That comment sums it up. 👏🏾👍🏾 1:50 In 1980s when gold shot up to $850/oz, only time when Fed Res debt notes were fully backed by gold. Awesome. Only other person I ever heard bringing up these facts has been Mike Maloney.
Great interview! Dan Oliver just gave us all the road map to follow. He's spending his money before it's too late. Gold is King, not the dollar. The dollar will only hold on a bit more. The next stimulus check should hurtle us into some serious inflation. Get Oliver back on in a couple of months.
Kitco with David are performing a truly excellent public service with class interviews of this type. They are accurate and intelligent and in the current absence of a factual media the public are desperately seeking advice and information of a truthful nature that the lying media no longer supply. It is into this vacuum that Kitco has stepped. Oh that there were many more like you. Well done Kitco.
Excellent interview. Please invite this guest on more often. In Weimar Germany, at the peak of hyperinflation, six ounces of gold bought you the best home in the best neighborhood in Berlin. I plan to use my investment in physical gold to pay off my Mortgage and business debt. Nice to learn that Gold performs well during times of negative interest rates. Thanks, David - you are an excellent interviewer.
Imagine being a public employee who hasn't missed a paycheck and still getting the same stimulus check as people who have been put out of work, their businesses destroyed, and their profession made illegal.
Some of these public employees are paid for their 'valuable' contribution of checking the CCP virus lockdowns, and taking the productive people out of business... 🤮
I've gotten $1800 and havent meissed a beat at my company. put it in the market and gonna use the alpha to pay back the principal when uncle sam comes a knocking
18:45 Gold was negative in nominal terms with the hyperinflation. I thought nominal refers to the rate BEFORE taking inflation under consideration. Can someone help me understand
15:25 Who owns the house?? Exactly! While you have a mortgage, the bank cartel owns it. When you’ve paid off the mortgage, the government cartel owns it (ie try NOT paying your property taxes). All of today’s rules (muppets/parasites like to call them “laws” ... not even the IRS and paying tax on income is a law, yet they shove it down our throats and enforce it like it is) favor the global bank cartel. Because of this, a house is a risk more than ever. Rental housing/apartments has also now become a nightmare with moratoriums on rent with this covid scam. Everything financial today is exactly what the Founders did NOT want. They knew liberty and property ownership were key to a peaceful, productive life. We have anything but that now. End the Fed Res.
Inflation is not a self fulfilled profecy. Ita very very simple: you print more money for the same amount of products, thus money is worth less. I'm argentinian, 90 years of inflation and running, I know what I'm talking about.
Prices go up on a daisy basis. No one knows what anything really costs. Politicians blame supply chains and anyone but themselves, yet they keep deficits and welfare through the roof whilst destroying the value of the peso. The rich keep richer, the poor poorer. Middle class will cease to exist soon. It's the road to Venezuela. The one thing that keeps on stable is the hige amount of pesos the central bank prints, so they keep losing value as nobody wants it.
How much are people dying, committing suicide, families broken, robberies, shelter, electricity, medicine and all that bc when America fails the whole world fails. Right now other countries aren’t destroyed to get resources.
@@cholopepper thank you for sharing. It seems arhethas been on this road for a long time, and the citizens have not made change with their votes. Are people preferring to use USD dollars or still pesos? What about gold and silver, are people saving it?
Great interview and information with today’s guest. Dan’s best comment came in at the very last sentence he spoke. Go back and listen for yourselves instead of me stating it here. People will remember better what Dan said. It’s important and true what he said.
In my opinion. One should buy first Lithium Battery producers ( excample NLC Neo Lithium corp in CAD ) and Silver . Both due to the mandatory shift to electrical power in US and Europe. Gold is a very good hedge against the fiat money printing in the US and EU.
People don’t read history and therefore the risk out there is enormous and the faith in fiat will inevitably diminish rapidly. I wouldn’t be surprised if we already have a banking crisis this month and a government crisis next month
This is the first time I’ve heard of Dan Oliver. I’m impressed. He made a great point that prices will move unexpectedly and chaotically, rather than steadily. The primary question is when does the world wake up to the devaluation of their currencies that’s already occurred and is continuing. Oh, and also buy physical gold & silver folks. Keep accumulating. Stay patient. Buy some miners as well. Sit and hold through the noise.
Dan Oliver knows his game. Expert on monetary history. And as Churchill said: the further I look into the past... the further I can see into the future.
100% agree! They are suppressing it NOW! What do you think will happen after the reset/collapse? They will inflate the price then! BUY NOW WHY YOU CAN AFFORD IT!!
Gold dropped to 1773 on 17th Feb. Gold and silver price are seriously manipulated. Bitcoin is eating gold as ppl say BTC is digital gold. The fact is ppl dump gold to jump in Bitcoin investment. When the market crashes, when BTC bubble burst, Gold will fly to sky high again!!
Yay !!! Well done kitco, Easily the most informative interview in a while . David Lin filling in the gaps with clever questions and replies. Looking forward to Davids spin-off show (if one ever happens) haha Get David out there on the road! asking the big boys in the federal treasury and the bank's big questions. I would like to think I'm speaking on behalf of others in the community ..
Yeah, $10K gold will only go to $10k when the dollar devalues....so, the purchasing power of 1oz of gold doesn't change.... Why the fascination with the dollar denominated value of gold? I don't get it......if the dollar goes to 0.....would you sell your gold for $100.000.000.000.000.000.000.00 of dollars.....no you wouldn't......so who gives a hoot what the dollar price is for gold.....I want to know about the purchasing power......how about that for a change. How much farmland, or commercial property, or residential property will I be able to buy when the dollar collapses....that's what I want to know....geesh.
manongahela A Question for you , in a Hyper Inflation situation i know the Money losses Value and everything goes up , but does the price of Houses go up ? Does your Rent go up , how can Rent go up or Everyone would be Homeless right ? So in your example if i had 3 oz of Gold what would that buy me , what about a Motorhome that say today is worth $50k , how much would that Motorhome be going for if the Dollar Collapsed ? What would a Gallon of fuel cost to run your car ? Plus nobody would work if your wages only bought a loaf of bread and a tin of tuna a day , people would turn to crime and looting in a very short time , no food you've got serious aggro More Questions than Answers
When u have surplus cash, after u have invested the rest, u dont want to keep it in the bank. U buy gold to protect its value, of ur hard earned wealth
FED would rather eliminate anyone who is significant threat to them before dissolve itself. Gold is at lower level than 10 years ago even without inflation. Realistically gold is wayyyy lower than 10 years ago. Look at 30 years charts than you will know how lousy gold is.
Good speaker. Not another nutcase goldbug. Gold has been around for thousands of years. No asset has been manipulated by more or for longer. What is needed is a store of value that cannot be manipulated. The inability to end gold price manipulation is what makes gold an asset in decline.
@@cramsa india has banned btc.. nigeria banned btc today.. the english and european govts have mentioned banning it so probably will at some point, the us has decribed it as a threat.. writings on the wall for all you bitcoin pumpers/owners (to own is to pump you may have noticed, as it a ponzi scheme that deflates without pumping). if you dont think govt can effectively disable bitcoin and therefore crash it you have rocks in your head. If you dont think there is political will to do so you have boulders in your head.
Gold miners kicked in the guts again today on the Aussie exchange ! If I wasn't paranoid, I'd think someone or something is trying to shake me out of my position !!
He asked, "what are they going to do, they are all so over leveraged?" Well, let it 🔥burn. Everytime they have tried to put it out, they have made it EXPONENTIALLY WORSE. Inflation is already running at 5-6%. Just let it happen, I'm so tired of being on the edge waiting, and everyone else is and has been since the 2008 crash when the banks got bailed out everyone else got fired and forced out of their homes. LET THE PEOPLE WHO CAUSED THIS FEEL SOME PAIN TOO.
US Gov doesn't want its printed money to go to gold (worthless metal, an enemy of paper dollar), so the gold price will be continuously manipulated by US-controlled market to go along with its monetary policy. Thus, the free market supply and demand pricing doesn't apply to make $10K gold. They know it but they are just pumping. Next US Gov will control bitcoin and make its price behave like a gold.
Good interview. In terms of gold, why is the long term price not simply equal to the cost of production? So sure inflation will support a higher gold price , but only in terms of the cost of production. So gold increase will lag behind other price increases.