Price Of Gold Should Be Sounding Alarm Bells At The Federal Reserve
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- čas přidán 10. 04. 2024
- Steve Forbes explains how the shifts in the price of gold are harbingers for even worst inflation to come-and the Federal Reserve had better take note.
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Gold does not gain value. Fiat currencies lose value against gold.
100% Correct, Gold is also better to mesurent of inflation than that BS Inflation data form the goverment give us.
Your father made a statement many years ago: " If the American people understood the federal reserve system, there would be a riot by morning".....
Fractional banking *
FTFY
His father, where Steve inherited all his money from?
Never forget that Steve is a trust fund baby.
Henry Ford made almost that exact same comment way back when.
Does that automatically mean his message is inaccurate?
That the value of money is entirely artificial? Probably why the mega wealthy actually hold very little of it.
......don't wait to buy Gold, buy Gold then wait.
fed will do everything possible to crush gold to protect the dollar, dont forget bitcoin which is an enemy for gold.
I read that Nvidia provides tech for crypto mining services/blockchain transactions. Could the current crypto pump be attributed to Nvidia’s great earnings and should I hold some crypto as well, cos tbh I’m having FOMO with the current crypto price at 60k.
It’s going to be a wild year for these sectors, so you should def. invest in crypto. 60% of my portfolio is spread across tech stocks, crypto and Crypto/Gold ETFs.
well the crypto market is expected to do way better than any other equity sectors this 2024 especially with the SEC crypto ETF approval but it’s a volatile market nevertheless and if you’re new to it, it’s best to reach out to an experienced adviser for proper guidance.
Yes, my asset manager advised I spread further into mutual funds and crypto Etf and boy am I glad I did. The whole idea is: Don’t get too greedy and also to exit at the right time, so generally I do find having an adviser very helpful, because what Avg. Joe really has time to watch and comprehensively analyse the market.
could you recommend some good advisers? don’t get me wrong, I already have an asset manager, but he seems not to know much about crypto.
No
This is why Rates will not come down... The US needs to incentivize people buying its debt.
ok so couple of things that he did not mention, maybe for simplicity's sake or maybe because he doesn't want to admit the 2000 pound gorilla in the room.
1. After the Volker Shock of the 70s when us unpegged its dollar from Gold, there have been hundreds of derivates instruments that are based on Gold that were created (its just a derivate but no actual gold transfer takes place). US kept humming like an engine thinking that it could just withstand this nonsense until it printed so much US dollar that no one wants it as a reserve currency anymore (not when they are just printing COVID checks and sending them to everyone in America, just racking up inflation and devaluing the dollar).
2. Now, countries don't want the dollar as the reserve currency anymore. They (China, Russia, India etc.) are dumping USD quietly and replacing it with physical gold (not derivates like the us will like). No one expects US to be able to pay its debts when they are adding trillions of dollars in debt every quarter.
3. When the push comes to shove (and believe me it will), they will come with a fire sale of US bonds and treasuries that are worthless (zero percent return bonds form a few years ago). The fire sale might come around September when the BRICS chairmanship comes to Russia.
4. Understand that this is nothing personal. These countries are looking out for a better hedging mechanism because fluctuations in dollar due to domestic us interest rates make the USD more/ less expensive and they have to suddenly grapple with balance of payment crises.
Central banks have been buying a lot of gold in the last 5 years..
The future purchasing power of most currencies is becoming highly questionable.
^^this guy gets it.
meaning ignore what they say and do as they do. People have to see the reason the central banks are stacking gold but many are focused on the stock market and other fiat based instruments. We are in perilous times and uncharted territory. What seemed to work in the past is completely breaking down as the dollar plunges in value. The central banks know what's coming and the govt. will continue to gaslight even when the house is burning down.
If the plebs rise up and shy away from using monopoly money to prop up the value of the S&P 500 and instead turn to assets that actually have inherit value, such as gold, then the whole system collapses. It's exactly what happened in the 1929 crash. A crash that America didn't truly recover from until the end of WW2.
Yes, 2022 and 2023 saw record high levels of net gold purchases by central banks.
Blame Joe Biden for weaponizing the dollars, alarming both friendly and unfriendly countries that the US can take control of their dollar based assets anytime she wants.
I could scarcely believe it when I heard that the second highest expenditure of the federal government of the U.S. is interest payment on the debt! How can the people allow the government to incur so much debt? Its strangling the U.S.
Easy. People elect politicians who run the national fisc. the same way most voters run their credit cards. Politicians propose new programs and "The Rich Will Pay!" and The Mob roars its approval. But new taxes to pay the bill? Not so much.
Indeed, whenever someone does propose cutting spending on some program, the bulk of the ensuing chatter is how they are committing electoral suicide.
Because like Canada they Federal banks and IMF dumped rates so we all borrowed to get through the plandemic and as soon as we were allowed to go out unmasked they jacked the interest. Monetary policy need an overhaul! We were all sucked in. And we all believe its government that runs the country . No in reality why is it banks out to make profits are deciding on our inflation. I don’t vote banks to manage inflation. It’s all a money grab to me. Remember we pay half our earnings to taxes and the other half to the roof over our head in turn that second half for the roof goes to the bankers for the interest on that roof. We will own nothing and be happy.
what's the highest?
@@Oceansta Entitlements. Medicare/Medicaid/Social Security
You could completely eliminate the military and our debt would still be growing like mad. The Department of HHS outstripped the DoD by far a long time ago.
They could only manipulate the price of gold for so long. Now you’re going to see what the dollar is worth.
Yes, nothing
Not being manipulated. People are buying gold as a safe haven. You must hold physical gold not paper gold.
Why would it sound alarms? We're well past the point of f--k-d.
not fucked if u buy gold, and put the dollar in the backburner.
@t-bone7988 well said hahaha 😂😂😂😂
Can you do math?
3 years of Joe
Median household income - 3%
Retail Gas +39%
Ground Beef, +37%
Automobiles +34 %
White pan bread +33%
Sliced bacon +19%
Milk + 18%
Deodorant + 38%
cooking Oil +36%
Eggs + 41%
Bleach + 43%
RAMEN + 43%
Dog Food + 36%
Snack food and chips +27%
Auto repair and Tires +26%
Median household income - 3%
Shrinkflation
wasn't it Nixon (a Republican) who unpegged the dollar from gold in the first place?
@@Oceansta You have to consider what was happening at the time. The world was upside down.
@@Amite-zg2ob riiiiiiiiiight
Some Advice, lots of people are going to become broke and some are going to become rich!!! Gold, Silver, Copper, and precious metals also commodities are on their way up and Non Commodities Stocks are about to get wiped out.!!!
He failed to mention that other communities that are sensitive to economic growth such as copper have failed to to rise along with gold. Gold isn't rising because of the inflation bogeyman instead it's rising due to economic uncertainty.
You're right Steve, the world can't go back on a gold standard again because then politicians would be required to be truthful to their people.
Gold never goes up or down. That is pure nonsense. It is the US$ & other fiat currencies going the opposite directions of gold.
This time both AU & DXY go up together.
Correct because they are derivatives of gold, and not the other way around.
That's what he said.
The Founding Fathers created the strongest economic engine in the world on a pure fiat currency. That fiat currency was how America gained it's independence in spite the tyranny of Conservative monarchists, it was called Colonial Scrip.
It's not nonsense, when a commodity experiences a mania people will scramble to buy at exorbitant prices or sell at ridiculously low prices just to get rid of it, when there is a panic people are not rational and will pile onto one side of a trade, that is where gold is sitting now, facing potential irrational buying driving it up faster than currencies are sinking. Supply and demand applies even to real money at the right time.
With all the inflation going on right now, shouldn't gold be at least double, so around $5k? Everything else has doubled.
Many factors are pushing it up, and paper trading is helping to hold it back. Silver as well.
In Jan 2020 Gold was about $1,550 an OZ. It's actually out-paced inflation, and a lot of that was driven up because of wars, bank fears, other countries also buying it up and countries like Zimbabwe switching back to gold standard currency.
My thought exactly
On the way down already
@@hugohabicht9957 I predict not for long.
Yep its still way undervalued
I never viewed metals as an investment, but I always saw it as a great way to save your cash & retain the value from when you bought it. It’s not hard to turn it to liquid cash, and it beats letting inflation destroy your savings.
People buy gold for its historical role, hedge against inflation, and diversification benefits. However, gold investment has risks and may not suit everyone. Investors must evaluate their objectives, risk tolerance, and financial situation carefully.
| find gold investment reliable and aim to buy more to recover losses. Silver is also a good investment but differs from my collectibles. Clear investment goals and education are crucial. Having an investment advisor is the best way to go right now I was going solo, but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
this is all new to me, where do I find a fiduciary, can you recommend any?
‘Amber Dawn Brummit’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
Regardless of what you think about gold and I have been bullish on it ever since George W. Bush was president.The economic issues we have been experiencing for a while were inevitable when you flood an economic system with liquidity by monetizing the debit and keeping interest rate at almost zero for about 15 years !
When ever I seen prices going up I realized the value of the dollars going down.
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Exactly
EXACTLY
Spot on!
There’s a reason Steve Forbes is on top. What an amazing dude
That reason is called inheritance, he is a trust fund baby.
@@et34t34fdf So, that somehow makes his comments wrong?
PHYSICAL SILVER IS THE MOST UNDERRATED COMMODITY ON EARTH ! Still very affordable under $30.00 an ounce spot price !!!
Aluminum is even more underrated
@@leouvarov8982
So are 6” stilettos on women the world over ; but I’m seriously thinking that silver being in its fourth year physical deficit - it’s ready to take off on a bull run !
Copper
Both you men are correct ; base metals will do well …
Silver sucks and always has
Fiat currencies are derivatives of gold. Gold prices do not fluctuate as he is saying, quite the opposite. Fiat currencies losing buying power means it takes more fiat to purchase gold, hence the rising price of gold.
noooooooooopo fiat means without gold mere prionted coupons
They don’t want to fix the problem.. how do y’all not get that by now?
Not an economist here, but I’m willing to bet that *if* a radical reform to deficit spending was actually passed and reflected in a current budget, this inflation would ease radically in a matter of a couple of years-time for the world to see and believe. What we are experiencing is a lack of confidence in the American dollar and our government to protect the value of our currency. We’ve kicked the can down the road so long and often, that the old masking tricks do not work and the world is no longer willing to float our excessive living style, which is a life of unearned affluence at others expense.
Thank you Steve.
Fantastic video - particularly the commentary on supply side inflation vs monetary inflation.
Wait, didn't we get away from the gold standard in 1933? We weren't on the gold standard in the 1970s.
100% correct. Governments need to stop excessive borrowing from central banks. Infinite debt is not possible. Governments need to be restricted by legislation as to how much they can borrow. The only exception is for "State of Emergencies".
@brendan9330
Is that state of emergencies like plandemics, or wars, or climate crises?
Floods, Fires, Hurricanes, Earthquakes, Tsunamis, basically any disaster not intiated by humans.
You may have noticed we are always having 'Emergencies'. Hurricanes, wildfires, tornados, wars, the list goes on and on.
US is printing dollars endlessly...
National debt will pass 35 Trillion soon.. Buying gold is a real win for public... Inflation will eat you alive unless you have some real wealth like gold...
Plus another over $214 trillion dollars in “unfunded liabilities” which includes SS and government pensions
What could possibly go wrong??!
1 trillion every 4 months on national debt
It has been 30 trillion for a long time now. Read somewhere recently that the actual figure is closer to 115 trillion and growing every day.
Probably more to do with how you Americans calculate that debt on a “cash in cash out basis”
Where future liabilities incurred during that fiscal year are not included in those official figures
Spot on, Mr Forbes
You were always correct,and your advice has been sound. The US needed you as President. Your opinions should be heeded.
Central banks around the world have been buying gold. Certainly has an impact on the price of gold.
Cheers
Excellent
As of May 16, 2024, the price of gold is $2,385 per ounce, which is down 0.29% from the previous day.
Awareness buys you time, time buys you options - until it doesn’t. Stay awake, aware, and prepared.
And time is only useful when it is used to good effect.
So if the currency collapses, what stops the government from confiscating all gold and making it illegal to hold?
A gun.
@bobbalouie1303
WHAT GOLD?
Nothing.
Great commentary I’m glad to hear someone with sense talk about debt spending and gold and inflation and how it all correlates
Can you please discuss Mike Johnson’s push to reauthorize FISA.
Yeah i will
something wrong when Forbes himself read the script
Amazing information 😊
There may be alarm bells at the Fed, unfortunately there is no one there that knows what the bell means. Salivate on lap dogs, Salivate on... Steve is great!
At least the US didn’t sell its gold. 🤔 Or did it? Some people got to look in one of the vaults at Ft Knox about 50 years ago…..weeeeeeee FJB
We sold our real gold long time ago and kept the fools gold in Ft Knox...
Not enough people get it!
It's all about purchasing power. How many ounces of gold would it take to buy a median priced home or an acre of farmland in your area? As metals go up it would require less and less, thus beating inflation. Silver bullion is the best option.
Check out Forbes article from 2008. George Soros Sells Stocks, Buys More Gold, Why Investors Should Care.
Silver sucks
Buying metals is like buying a car. You'll wind up getting less for it than you value you buy it for. Don't forget about the scum in the middle that has their hand out waiting for their cut of the action.
That's odd, I'm ahead 40% on my physical metals. The trick is to buy low and sell higher.
@@JoeStacks419 it want be when you sell it.
The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
Steve, you are looking a little older but I still love to hear from you. My first thought after listening to you this morning was , “Imagine what this country could have become if the voters had voted for you back in the day”. Our country rejected your message of fiscal responsibility. Now, I believe it’s too late. We are headed toward a place no one could have thought was possible 25 years ago, collapse. Ross Perot was right and you were right. Great day
Unfortunately, guys like Perot used flip charts and at that point the average person falls asleep.....wanting instead to view America's Got Talent while sitting on the couch with bag of chips open. We are truly doomed at the overall lack of knowledge and involvement of the average person in today's age.
Another nonsense is the growth rate of the USA economy. You need to deduct the growth due to debt from it.
Last year the GDP grew 2.5% but the Federal Government debt as a % of GDP grew 11%.
Thus the real growth was a negative 8.5%. It is called creative finance & fiddling with the numbers.
The USA, Canada, EU, & Japan have a negative growth rate for decades that is why the debt grows faster the GDP to compensate for the loss of the growth & fool the people.
Get curency out of the Banks Buy gold and silver
I've had a "paper" position in gold for years. But now for the first time I'm considering physical gold as well. Even though the U.S. dollar occupies a special niche in the world financial system, someday it will go the way of Pound Stirling or the Dutch Guilder. We just don't know when that will happen. And it will be an unexpected surprise when it does.
Au is up 5.1% on the week as of this second. Your local bank gives how much return exactly......
Right
WHAT THAT TELLS ME IS THAT EITHER: DOLLAR'S VALUE IS GETTING OUT OF HAND DUE TO SUPER PRINTING/SPENDING, OR AND THAT RULING CLASS AMASSED ENOUGH GOLD AND NOW THEY ARE READY TO LET IT LOOSE, I.E. NO MORE ARTIFICIAL FIXING OF THE PRICE..... EITHER WAY, GOLD BREAKING THE 2,000 BARRIER IS BAD FOR U.S. AND GOOD FOR GOLD, WHICH BY NOW SHOULD BE IN THE RANGE OF ABOVE 5000 EASILY!
The Fed knows what's going on. The alarm bells have been ringing for a while.
Sadly, they are in a pickle, and in an election year. If they raise rates, it can slow down inflation at the cost of risking banks going under, job loss, etc... If they lower the rates, it can heat inflation back up. They don't know what to do at this point, which I'm guessing they will just accept the high inflation and leave rates where they are at.. I'm guessing they will raise rates after the election no matter which candidate wins. Just my guess. Be ready for an everything crash... And that's not even factoring in war and BRICS impact on what could happen.
And imagine how high gold would be, and the alarm bells, if bitcoin wasn’t viewed as an alternative
Bitcoin is a distraction from precious metals
Jai Hinduja. Fiat currencies are backed by thin air rather than gold.
Ohh im sure it is. I suspect they cant stop it now. The etf go around of paper instead of fold is gonna not end well
I’ve been hearing this “alarm” ringing for 10 years. Where’s the fire?
You’re great
In the 1950’s a coffee and steak was 50 cents. A big new house was $18,000. Gold was $20 an ounce.
You're timing is off. Gold was $20 per ounce in 1920. It went from $20 per ounce to ~$35 during the Great Depression under FDR. During the Nixon Admin (1971) the USA ditched the gold standard entirely.
This is crazy talk. Next he’ll be suggesting that men in dresses aren’t real women.
Thank you Mr Forbes
Good work buddy 👍
Let them keep printing dollars , perhaps in rolls so they can be handy in the next epidemic lockdown 😅
Gold Should Be Sounding Alarm Bells At The Federal Reserve, yes sir! Nobody trust they paper printing machine anymore
The US government and the federal reserve have been printing counterfeit money for years now and they should all be in jail were they belong.
You make no sense
Just reached 500 thousand. Thank you for all the knowledge and nuggets you've thrown my way over the past months. Started with 50k last month 2024
I will mention and recommend
Wendy Lee Olson. I met her at a conference in 2018 and we have been working together ever since.
Bitcoin has been rising for a while and could rise again. The truth is that no one knows, I think this is the right time to buy and also get a professional assistant
@@bekeechristianchisom8541Wendy Lee Olson is so bad at investing that she has to give toss jobs behind truck stop bathrooms to pay her bills.
The can has kicked down the road since before 2008, at some point the can won't be able to be kicked. 💯
The can has been getting kicked down the road since at least the 1960's when President LBJ's Great Society federal welfare programs started and we were fighting The Vietnam War.
This economic model failed in 2008. Debt is fundamentally unviable as a fuel for speculative expansion projects or to bailout business that should have been allowed to fail.
2008 should have forced a move away from debt accumulation and a general reset in economic thinking but hey, who wants to cut back when you can simply promise to pay later.
Gold going up because of the overhyped Dollar soon bite the dust ..as the world moves away from Dollar ...so countries are buying gold rather Dollar
I was told to spread my money across different things like stocks and bonds to protect my $750k retirement savings. Now, with the markets being shaky, should I keep adding money to my portfolio or consider other options?
Absolutely! Having a financial expert has been a game-changer for me. They provide tailored advice that takes into account my unique financial circumstances, which has helped me make informed decisions and avoid costly mistakes.
Thank you for sharing your positive experience! I've been contemplating seeking the guidance of a financial expert myself, but I wasn't sure where to start. Do you have any recommendations on how to find a reputable financial advisor or firm? I'm particularly interested in someone who can provide personalised advice and help me develop long-term strategies for financial growth. Any insights you can offer would be greatly appreciated!
Exactly, having a financial expert by your side is invaluable due to their ability to provide personalised advice tailored to your specific financial situation. With their expertise, they can help you navigate complex financial decisions, Optimise your investments, and develop strategies to achieve your long-term financial goals.
Financial experts such as Dustin Dwain King offer extensive knowledge and experience, aiding clients in crafting tailored financial strategies to achieve their objectives...
Oh yeah that's true, Dustin Dwain King is also the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Re evaluate 1oz gold to $200,000. ea
Then revalue $ 200 000
Ya but how much will that buy? A single trip to costco?
Frankly, I don't think that it is even possible to come back to the gold standard. If I am not wrong, Humanity has extracted around 175,000 tons of gold since prehistory and a ton costs around 75,000,000 $, which means that there should be only at most around 13,125,000,000,000 $ in gold in gold today, that is to say 13 trillions, which is way too insufficient to restablish the gold standard, and that is just for the US economy. More generally, it doesn't sound very wise to base an entire monetary policy based just on one single commodity.
#Gold & #Silver to the 🌕 baby we out 🚀. Getchu something thats 100% private and a store of wealth at the same time.
How many people understand the actual difference between Currency & Money 😉... When you get it then the penny drops 😮
i love Goooold!!!
First oz. is the hardest.
with higher wages and the cost of everything i wonder how this has effected the miners.i rememebr years ago it cost 1000 to mine and ounce of gold and gold was at 1200 bucks
GOLD used to be 35 bucks an ounce. But reverse your thinking for a minute. Instead, think of it as 35 dollars used to buy an ounce of gold. Bottom line, gold is still gold. Your dollar on the other hand is now a penny. LOL
People weaking up and seeing that Gold is real money
Time to go gold mining love that gold and the mountains$$$$$$
Clue: there isn't enough gold on Earth to back modern currencies.
There is. You just have to price it in real time. ETF manipulation makes it worse.
Of course there is. Current reserves in USA put price at $121,107.26 per oz gold. If you backed the $35,000,000,000,000 debt with the 290,000,000 oz gold held by USA.
@@WiredForFishing Not just government, Have you thought about how much gold each citizens of USA has?
That's ridiculous. Just because governments inflate fiat currencies, that doesn't make the gold standard obsolete. It's proof of why it's necessary.
It's fan time for fiat money
Gold at an all time high yet major Gold stocks way off their all time highs. They should be mirroring the huge rally in gold but they're not!
The stocks might take a while The miners all have inflated costs now as well.
Not at all convincing!
i have no idea why an expert would buy gold... platinum is infinatly more rare and half the price per oz
It is harder to liquidate. Most metal dealers don’t want it because they are stuck with it for a long time. Platinum used to be $2k/oz for a long time. If there was demand, it wouldn’t have dropped 50%.
@josephjames259 that makes sense, it also dropped because it's main use case was catalytic converters and investors belive EVs are taking over... either way, for half the price of gold I'm happy to own somthing 15 times more rare
@@Wildboy789789well, by that reasoning, maybe you should buy palladium instead? 2 yes ago it was 3k. Now it’s 1k. But people buy gold for a safe investment. It’s not supposed to go down.
Gold is not pricing in higher inflation! It is pricing in a lower inflation/deflation alongside a recession!
Too late now........
Part of the problem is Costco is selling 200 million a month in gold bars.
Which suggests that there is strong demand for gold and Costco is wisely filling that demand.
@@edb3877I tend to think it is more an impulse buying frenzy due to seeing the gold bar. My guess is most buyers are using their credit cards for the purchase, setting gold up for a crash.
Why is that a problem?
@@wildbikerbill6530 Many of those Costco buyers are impulse shoppers who are using their credit cards to buy gold bars, and when gold falls back because the demand is artificial, those buyers will lose two ways...interest on the card debt and a decreased gold price.
Such sound advice and thinking....yet globally all in positions of monetary policy are ignorant of this. Supports my contention that true "pros" ( in ANY field)....are found less-and-less in today's arenas. Focus is not on knowlwedge and capability but instead on various aspects of social-reengineering efforts....as if competency "Automatically" comes with it, even if it's not being checked along the way.
Smart bloke
You know what sucks is everyone banks on gold but a couple thousand years ago salt was the most valuable currency. Like diamonds… DeBeers controls everything and who is controlling gold? China mostly..
the guy who rides Amtrak is talking about gold again.
It's a very timely reminder. There is no dollar value of gold; instead, there is a gold vs. Dollar exchange rate 😉.
It’s shiny, it’s a good conductor,. I’ll never understand why gold has any value to people
It's rare, it doesn't corrode, it takes real effort to find it, mine it, refine it, unlike paper you can't fake it. Across countries and continents for millennia it has provided a steady unit of exchange for coinage and trade. Millenia later, we can measure Roman inflation by how the amount of silver and gold in their coinage diminished.
US 8000 metric ton Gold Reserves equivalent to 800 billion Dollars, the same amount owing to China, in short it belongs to China 😂
Au standard would value au at 55k oz
An ounce of gold should be worth USD 40k