Here’s Why Banks Are Buying Up All of the Gold

Heads up folks…

I’ve got a fascinating one for you.

I’ve got Jordan Peterson and Peter Schiff in a fascinating conversation about the Value of Gold.

And it’s not just some academic debate.

This could very soon be one of the most important things in your world when the U.S. Dollar crashes and gets its value cut in half….or worse.

These guys know what they’re talking about and this short 8 minute clip is definitely worth your time to watch.

I always say this: don’t listen to what the “Elites” tell you….watch what they are DOING.

And what are they doing?

Stacking gold and silver.

As much as they can get their hands on.

Look, I hope I’m wrong but I think we’re in for a massive event that is going to destroy bank accounts and destroy the U.S. Dollar.

So what happens to YOU when that happens?

Watch this and then scroll down for how I can help you stay safe right now….

Watch:

For those who can’t listen, here’s the transcript:

one of the reasons that people are so arrogant particularly in America that the dollar status is not in jeopardy and so that we can keep on running these huge deficits we can create keep on creating inflation and the world’s got no choice right but to stick with the dollar because are they going to go to the euro are they going to go to the Yen you know the pound

I mean they’re winning B I agree all of those currencies also have problems and so do you really want to switch from one flawed fiat currency to another even if those other Fiat currencies may be less flawed than the dollar right

do you really want to make that shift I don’t think that that’s what’s going to happen what everybody is missing is that there is an alternative to the dollar that doesn’t involve another fiat currency and that’s gold

that is real money everybody forgets that for thousands of years gold was money it was money because it worked now over the course of time uh we had paper currencies that would rise and fall I mean hundreds of years ago they were paper currencies that are now worthless and you don’t even know their names

you know they come and go but gold has has stayed you know gold works as money and so I think what these central banks are going to do is as they get out of dollars they will just increase their Holdings of gold gold will be the monetary anchor gold will be the reserve monetary asset just the way it was before the dollar it wasn’t the British pound

I mean the British pound was a dominant currency but gold was what everybody owned the British back to pounds do you see any do you see any evidence that some of these alternate currencies are starting to back their currency claims with gold oh yeah you can what’s happening on the central banks are now buying more gold than they’ve bought in in in decades

especially a lot of the uh you know the Emerging Market countries not even maybe so much the United States isn’t buying any gold and maybe you know some of the more mature uh countries but a lot of other countries that had predominantly held dollars and then to a lower degree Euros or Yen or pounds these countries are increasingly buying gold that’s why gold is at a record high

I mean Gold’s around two thousand dollars an ounce but in terms of just about every other currency on the planet gold has been hitting all-time record highs uh and again that’s not really gold going up that’s all these Fiat currencies going down but what are the reasons that countries would want gold as opposed to the dollar is the US government doesn’t have any control over it

you know gold is an asset that’s not also somebody else’s liability and nobody could create it you have to mine it no one country you know has the advantage so you know why would you want to take away uh that that privilege that the United States has and just bestow it on somebody else who is going to abuse it the same way

I mean the United States abused that privilege that we had and we we we exported all this inflation to the world we took advantage of the this the position that we were in uh so why would you want to put another nation in in a position to similarly take advantage of the world it’s much better to go back to to honest money and again

even when we were on Bretton Woods before you know 1971 and we were on the dollar standard it was because the dollar was backed by gold again if you held dollars you held gold that’s where the saying came from the dollar is as good as gold in fact the legal definition of a dollar is a is a weight of gold that’s what a dollar is dollars are gold the the the paper currency that circulated Federal Reserve notes are not dollars they are notes of the Federal Reserve

initially the those Federal Reserve notes were payable in dollars the dollars were the gold that the Federal Reserve notes paid because if you think about what a note is a note is a promise to pay something a Federal Reserve Note is supposed to pay something well what did it pay it paid gold it paid dollars today Federal Reserve notes pay nothing their ious nothing the Federal Reserve is not obligated to give you anything I mean if you have a ten dollar bill okay so people people might object and they and they have

that well gold is just another arbitrary standard of value it has some intrinsic worth it’s useful for jewelry it’s useful for certain industrial applications but it’s just another psychologically valuable currency without any intrinsic value and so it shouldn’t be a repository of value in principle that’s any more stable than let’s say a well-managed or even a badly managed fiat currency and so what do you what do you why is it that gold has proved itself let’s say over centuries or Millennia as a storehouse of value what is it about gold intrinsically let’s say that seems to have given it that edge the idea that gold doesn’t have any intrinsic value is just pure nonsense

it’s obviously politicians have a vested interest in in trying to diminish gold as a monetary alternative to the Fiat system and even now you have a lot out of cryptocurrency enthusiasts who say the same thing well you know gold has no value because they want to justify something like Bitcoin which also has no value and say well gold worked as money and it has no value

so so Bitcoin could work well it’s not true that gold has no value gold is the most valuable the most useful metal on

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