Andy, in yesterday's episode, it wasn't clear whether you are saying $3000 gold is the potential price level to which gold will be revalued, or whether it is the potential price level at which a physical revaluation will be triggered. Please could you explain this more clearly?
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$3000 Gold - LFTV Episode 167
- Thread starter Amphius
- Start date
He also said, and has said multiple times, that the real "number" ... ie, of pieces of USD fiat debt notes required to buy one ounce ... should be MUCH higher already.
But yes, he has been talking for a few years now of $2500-$3000 as the number that will trigger the "reset" of gold in terms of fiat. What it will get reset "to" is another question. I can't remember his ever giving details or even his "guesstimate." He may simply be speaking of a "revaluation"/devaluation of fiat currencies, esp. the USD. Clearly a "revaluation" of the USD of 5:1 at that price level would put the "price" of an ounce of gold at closer to $15,000. 10:1 and we'd be talking a value of $30,000/oz.
But the Fed and the other Western CBs also know the massive push-back they'd get from forcing a revaluation of the USD, since, as has been stated so many times, the USD is still the reserve currency of the world. That's why they've been working so hard to get there CBDC up and running and accepted, and their minions have been pushing it so hard. Hopefully that idea will get revalued to trash, but I'm thinking we're going to find that out soon, by the end of this year at the latest, perhaps.
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Chris Powell of GATA says some interesting things about a gold revaluation in the interview below. Like, Andy, he thinks it will be a central bank-controlled event, and the price will be taken to a "substantially higher" level, designed to last for 50 years.
The problem with revaluation to a fixed price, as in a gold standard, is that you have to get the price right (Jim Rickards). Britain did not get the price right after WWI and went off the gold standard.
My personal free market bias is to let the intelligence of the market decide. With the move to transactional gold and silver by some US States merchants could price in silver, gold and
USD.
The merchants would likely be pricing off the international forex cross.
Chris Powell's suggestion is banker controlled while the free market would tend to diminish the banker's role.
My personal free market bias is to let the intelligence of the market decide. With the move to transactional gold and silver by some US States merchants could price in silver, gold and
USD.
The merchants would likely be pricing off the international forex cross.
Chris Powell's suggestion is banker controlled while the free market would tend to diminish the banker's role.
I think all of us here would agree w/you. The question is whether or not the banksters have any intention of letting the market decide, or perhaps more accurately to what lengths they are preparing to go to try to continue to control and to actually BE the market [CBDC].
If the Fed, in league w/the Treasury/Secy of Treasury (and probably w/the other Western central banksters), decide to devalue the USD, who exactly at this moment is going to stop them? BRICS+ will obviously want to have a say and are powerful enough to have one. In fact, they've already spoken w/their middle finger.
How about WeThePeople? What percentage of Westerners, and especially Americans, own any significant amt of physical gold/silver? -- <2%!! Bitcoin? Anyone have a good idea of what % in the West have enough stored away in BTC (and we could throw in all the rest of their younger sibs and cousins and wannabe relatives) to survive and thrive in such a situation?
So most will go along w/whatever system takes the place of this one, at whatever level their "money" is devalued to, bc they have no other system to fall back on. At least to begin with.
But that's where Kinesis and all other sound-money groups (and citizens like us) really need to be doing their/our best to get the attention of our family and friends, etc, to point them to safe havens. And that's why Kinesis needs to be user friendly and ready for prime time ... now! I highly doubt we're looking at years before we're no longer simply talking about this ... and maybe months?
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For those that haven't seen it, here is a very interesting YT video w/Peter Schiff and Raoul Pal debating gold vs BTC from ~3 wks ago. The interviewer has an obvious bias, but the interview is still very good and useful, IMO. Schiff states the case for Kinesis, w/o using the name, starting ~14 minutes.
BTW, Peter Schiff, as I recall, and I think I recall correctly, was one of those "goldbugs" that simply refused to admit, at least publicly, that the the Fed and its bullion banks, and their overseer bank, the BIS, supported by the Western govts (ESF, Treasury, CFTC, bought-and-paid-for Congressmen, etc) that "benefitted" from their massive creation of "money," were suppressing the price of gold (and silver) simply to protect their legalized counterfeit debt currency, the almighty USD, as the reserve currency of the world. He just couldn't and wouldn't "go there," preferring always to explain happenings by essentially "normal" market forces that were determinable by the intelligent investor. That's one of the reasons he has some difficulty in giving a really good answer to Pal's question about why the POG didn't rise during the worst inflationary (money creation) period/decade of this century after the GFC, or really probably ever.
Peter Schiff vs Raoul Pal Debate: Bitcoin Going To $0 or $1 Million & A Great Depression Coming?
BTW, Peter Schiff, as I recall, and I think I recall correctly, was one of those "goldbugs" that simply refused to admit, at least publicly, that the the Fed and its bullion banks, and their overseer bank, the BIS, supported by the Western govts (ESF, Treasury, CFTC, bought-and-paid-for Congressmen, etc) that "benefitted" from their massive creation of "money," were suppressing the price of gold (and silver) simply to protect their legalized counterfeit debt currency, the almighty USD, as the reserve currency of the world. He just couldn't and wouldn't "go there," preferring always to explain happenings by essentially "normal" market forces that were determinable by the intelligent investor. That's one of the reasons he has some difficulty in giving a really good answer to Pal's question about why the POG didn't rise during the worst inflationary (money creation) period/decade of this century after the GFC, or really probably ever.
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I moved one post to
forum.kinesis.money
Q4 2023 – Q1 2024 – Quarterly Update
https://kinesis.money/company-news/q4-2023-q1-2024-ceo-quarterly-update/ In our latest update from Kinesis CEO and founder, Thomas Coughlin reviews the milestones accomplished by Kinesis in the last quarter of 2023 and provides a glimpse into the beginning of 2024. Q4 Snapshot Low-cost SEPA...
forum.kinesis.money
A great wealth transfer is underway: How the West lost control of the gold market
By Henry Johnston, for RT
A few selected paragraphs from the article:
--"Nevertheless, gold was lurking in the shadows like a deposed but still-living monarch [I like that
] and thus represented an implicit guard against the abuse of what had become fiat currencies. If nothing else, as dollars continued to be printed, the price of gold would surge and signal a debasement of the greenback. And this is more or less what happened in the 1970s after the gold window was shuttered. After breaking the $35 per-ounce peg in 1971, gold rocketed all the way up to $850 by 1980.So the US government had a strong interest in managing the perception of the dollar through gold. Most importantly, it didn’t want to see gold recreate a pseudo reserve currency by strengthening substantially. Legendary Fed chairman Paul Volcker once said “gold is my enemy.” And indeed it traditionally had been the enemy of central banks: it forced them to tighten rates when they didn’t want to and imposed on them a certain discipline. [Puts the lie to the constant statements by the Fed / Fed chairmen over the years that they were "indifferent" or "agnostic" to the price of gold]
This framework helps make sense of the rise of the unallocated – i.e. ‘paper’ – gold market in the 1980s and the countless gold derivatives that emerged. This actually started in 1974 with the launch of gold futures trading [the CRIMEX, especially, established in 1933 w/exactly this in mind] but exploded in the next decade. What happened is that bullion banks began selling paper claims on gold for which there was no actual gold attached. And buyers were not actually required to pay upfront but could simply leave a cash margin.
The setup is reminiscent of the old communist joke that went “we pretend to work and you pretend to pay us.” In this case, the investor pretends to pay for the gold and the seller pretends to own it. This is about as close as you can get to pure speculation.
Thus was born the fractional-reserve paper gold scheme that persists to this day. And indeed, there is now vastly more paper gold than physical, some $200-300 trillion compared to $11 trillion, according an estimate by Forbes magazine. Others put the discrepancy even higher. [Without a doubt!] Nobody really knows. Comex, the primary futures and options market for gold, has also become more paper-driven. According to analyst Luke Gromen, whereas 25 years ago some 20% of the gold volume on Comex was related to a physical ounce, that number has fallen to around 2%."
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Another excellent article to read and share --
vongreyerz.gold
Founder and Chairman
April 7, 2024
The desire of gold is not for gold. It is for the means of freedom and benefit.
Ralph Waldo Emerson
.......................................
Selection for us here -- we still need to be encouraged -- it's been a LONG TIME COMING!:
"So if we inflation adjust the gold price, the 1980 high at $850 would today be $3,590.
But if we adjust the gold price for REAL inflation based on Shadow Government Statistics [John Williams -- shadowstats.com*] calculation, the gold price equivalent of the $850 high would today be $29,200.
*In the 1980s the inflation calculation was adjusted, by the US government, to artificially improve/reduce official inflation figures.
And if we adjust the silver price for US CPI, the 1980 silver high of $50 would today be $166.
[But] Adjusted for REAL inflation, the $50 high silver in 1980 would today be $1,350."
NOTE: I'm not posting these articles principally for us here -- my purpose isn't to simply "preach to the choir." I assume most here already understand most of these things, at least at some level.
But, before we can preach "KINESIS!" to our friends and families, they have to have some level of understanding of sound money and of the evil parasitic system they have been living under for >100 years (the Fedl Reserve System), and especially since Bretton Woods and then 1971. Many have some idea that the financial system is messed up but have never taken the time to really read, learn, and understand. Many just have a feeling of financial malaise, but blame "politicians" -- DemoPlicans / RepugnicRats -- or BigBusiness or whatever scapegoat TPTB (the Banksters) have chosen for that day or week.
They need to understand that ALL fiat currency ponzi schemes have failed in the history of the world and that it is not gold and silver that are "rising in price" but it is their paper money that they are forced to use and be paid with that has lost and is continuing to lose its value rapidly, and soon maybe all at once. And a system of CBDC will absolutely suck out not only the rest of their (supposed) financial freedoms, but also their right to any privacy whatsoever. This article is very good for all levels of understanding -- please share.
GOLD AND SILVER ENTERING EXPONENTIAL PHASE
Egon von Greyerz Latest Article: Gold prices in the coming months and year are likely to be spectacular.
vongreyerz.gold
GOLD AND SILVER ENTERING EXPONENTIAL PHASE
By Egon von GreyerzFounder and Chairman
April 7, 2024
The desire of gold is not for gold. It is for the means of freedom and benefit.
Ralph Waldo Emerson
.......................................
Selection for us here -- we still need to be encouraged -- it's been a LONG TIME COMING!:
"So if we inflation adjust the gold price, the 1980 high at $850 would today be $3,590.
But if we adjust the gold price for REAL inflation based on Shadow Government Statistics [John Williams -- shadowstats.com*] calculation, the gold price equivalent of the $850 high would today be $29,200.
*In the 1980s the inflation calculation was adjusted, by the US government, to artificially improve/reduce official inflation figures.
And if we adjust the silver price for US CPI, the 1980 silver high of $50 would today be $166.
[But] Adjusted for REAL inflation, the $50 high silver in 1980 would today be $1,350."
NOTE: I'm not posting these articles principally for us here -- my purpose isn't to simply "preach to the choir." I assume most here already understand most of these things, at least at some level.
But, before we can preach "KINESIS!" to our friends and families, they have to have some level of understanding of sound money and of the evil parasitic system they have been living under for >100 years (the Fedl Reserve System), and especially since Bretton Woods and then 1971. Many have some idea that the financial system is messed up but have never taken the time to really read, learn, and understand. Many just have a feeling of financial malaise, but blame "politicians" -- DemoPlicans / RepugnicRats -- or BigBusiness or whatever scapegoat TPTB (the Banksters) have chosen for that day or week.
They need to understand that ALL fiat currency ponzi schemes have failed in the history of the world and that it is not gold and silver that are "rising in price" but it is their paper money that they are forced to use and be paid with that has lost and is continuing to lose its value rapidly, and soon maybe all at once. And a system of CBDC will absolutely suck out not only the rest of their (supposed) financial freedoms, but also their right to any privacy whatsoever. This article is very good for all levels of understanding -- please share.
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