investors are slowly waking up to biggest currency and sovereign debt crisis in world history things will get ugly [Music] fast hi I've got Alan hibberd with me once again there is some strange stuff that has happened in the gold market and I tweeted out that there that this is happening however uh we need to investigate further so we're going to catch up on that Monday for right now we're going to visit some comments and tweets from other uh Market analysts and I wanted to just discuss


these things with Allan so Allen how are you doing I'm great Mike thanks excited to get into this excellent so first up we've got Peter schiff's comments gold up $20 oil up 80 cents long-term treasury yields hitting new highs which means the bond prices are hitting new lows existing bonds like the 30-year treasury uh what's also significant is that the dollar is also selling off investors are slowly waking up to big uh current biggest currency and sovereign debt crisis in world history things are


things will get ugly uh fast and you know we are in this debt super cycle that started with the creation of the Federal Reserve so we've got this super cycle has more than a hundred years of pent up energy in it and then uh you know when it comes to sovereign debt we hit a low back in probably the U early late 70s early 80s of 30% of GDP uh so uh what do what do you have to say about uh gold going up the dollar going down uh oil uh up 80 cents a barrel and treasuries hitting their lows and the fact that that you know I I I've


been talking about a currency crisis for years because when you're talking about a a 100-year super cycle uh trying to nail the exact moment of Crisis within a month or a year is impossible but you can see that it's coming yeah exactly Mike I mean I remember when I first joined this base and started learning from you 10 years ago and reading your first book you mentioned back in the 70s um economists that actually thought critically could smell a currency crisis coming and that has only worsened and


worsened and worsened for 40 50 60 years and we're watching The Biggest currency crisis in history and the biggest sovereign debt crisis in history play out at the same time in slow motion so it's kind of unbelievable to live through this you know in uh the book that I you know that we just wrote you were assisting me with all of the data and so on um the the I I do mention that uh you know we have spent all of our Capital that we uh before World War II we were at very low levels of debt to


GDP and then it went up to 105% of GDP and here we are up at like close to 120 or around 120 uh and so there is no capital and then I just saw a video of the president saying that we're America we're the richest country on Earth and and uh and we can afford to fund two Wars simultaneously uh uh you know talking about Israel and so on um and the recklessness that our politicians that they think that this is their Birthright to just spend our way into Oblivion I find it pretty scary yeah I agree and I mean the United


States used to be the richest na we used to be the biggest creditor Nation now we're the biggest debtor Nation we owe a lot of money we don't have the money we're just printing it and borrowing it so currency yeah currency excuse me thank you mik yeah so let's move on to the next one here uh uh Marin katusa of katusa research says gold is silently breaking out all around the world making all new record highs in Australian dollars Chinese Yuan Canadian dollars British pounds uh all eyes are on the Benchmark US


dollar gold price all-time high of 2074 he's got a couple of charts in here and if I enlarge those so Australian dollars and Chinese youan now you know I just commented you can see that there's an intraday candle here where the high was higher but um I had just commented on how uh with when you include the spread on the uh Shanghai exchange that it's up even further than this because uh couple of weeks ago uh the Chinese were paying a 6% premium uh uh for delivery of gold off of the Shanghai


exchange over the international spot price and um uh now it's down to about 3% I believe but still when you couple that with this latest candle it's it's setting even this intraday high that we have uh back in 2020 in Chinese rimi uh uh that we we've way surpassed that and when gold gets into the news cycle as setting record highs that's when you can experience a runaway and it'll start rising in all currencies because once Chinese investors that are experiencing an implosion in real estate


start uh seeing that uh gold is exp the the safe haven when now they're seeing that real estate is no longer when when Real Estate is blown into a bubble it is not a safe haven they're now experiencing this what could happen when the world's largest uh population by country uh sees that that their safety their Redemption lies not in real estate where most of their economy is invested it's it's a heavy real estate is a is the largest percent driver of GDP in uh China and um and and here gold the safe


haven from an imploding real estate market uh is setting record highs and gets into the news cycle what do you what do you think about all of that yeah I mean I agree with you completely and the fact that gold is making a record high in different currencies around the world just shows you that it doesn't really matter what currency you have it's a temporary solution solution to a long-term problem if you want to store your purchasing power over time you need gold like there there's no two ways


about it and the whole world has been fueled by credit and Fiat Fiat money or fiat currency is of course credit I think it was JP Morgan who said gold is money everything else is credit and we're just seeing how credit is not going to be a long-term solution to a long-term problem and to paraphrase Ray doio uh he who does not own gold knows neither uh economics or history neither economics nor history uh and so Ray Doo you know one of the most successful investors there is is saying if if you


don't own gold you don't know anything and you better own gold so your comment about all currencies uh this you know my friend Tavi Costa hi I just wanted to take a moment and thank you for subscribing and mention that if you'd like to help our Channel please consider my my company goldsilver.com the next time you buy precious metals we're one of the most trusted names in the industry our prices are sharp delivery is fast and we have an insiders program where you find out exactly what I'm doing with my own


Investments thanks for making goldsilver.com your dealer and now back to the video of crescat capital.net uh is you know put up this chart with uh gold in six major currencies here so these and when you look at the minor currencies those have been setting record highs for a long time so now it isn't it's the major currencies joining the party the major currencies they tend not to abuse their currency Supply quite so much as the smaller sort of Banana Republic uh countries I uh maybe I shouldn't have said that Banana Republic


comment but uh this is really important because we've got the Euro the British pound the Chinese Yuan the Aussie dollar Japanese Yen and Korean one and look at the Japanese Yen measured in Gold yeah exactly and so again what I was just saying if you look at all these currencies compared to Gold imagine flipping these charts upside down so of course we're looking at the price of gold here and it's going up and to the right that's a great sign for gold but you flip it upside down and you see


everything dropping off a cliff what are you measuring you're measuring the currencies themselves they're they're drop they're dropping to zero off a cliff they're going to zero so fast do you want to hold these currencies I don't think so it's a bad investment yeah that this is why I contend that uh that none of these are money money must be a store of value flip this graph upside down and you see exactly what they're doing and you know we were writing that chapter for the book that


didn't make it into the book because it just became so big it put so much space and information between the beginning of the book and the point of the book that I just thought it was diluting the message but it was a chapter on something I've called wealth Cycles I made that term I created that term uh back in I don't know 2011 or something like that and um uh you said to me at one point you do realize that every graph is a r because we were making ratio charts and I was having you make hundreds of ratio charts


and you go you do realize that every chart is a ratio chart it's a ratio of the thing you're measuring and the value of the dollar whoa that explains the whole thing right there yeah so what's your comment on you have any more comments on on this great series series of charts that Tavi came up with um yeah B basically just you know every single person on the planet we we have a native currency and we basically use that to measure things the price of you know milk or gasoline or real estate and we assume that that is a


reliable and stable unit of measure but it's not and you can see that it's a terrible unit of measure it's like using a rubber ruler to build a house and every day the number the the definition of an inch changes you can't build build a house that way and people are building their financial houses measured in a a currency that's changing value and we're building Society itself on something that's that's changing over time there is no Foundation it's going to come


tumbling down it's only a matter of time yes which reminds me of the ludvic Von Von M's quote uh that a boom brought on by credit um I can't remember the exact quote at this moment but uh a boom brought on by credit has to basically come to an end because of all of the misallocations that are made and the choice is whether or not to abandon the boom early and suffer the pain or wait until it end it it results in a total catastrophe of the currency system involved which is what has happened


we've slapped a Band-Aid on we did not let markets correct back in 2008 we came up with bank conomics and uh the bank conomics have uh uh just uh destroyed the free market system and price Discovery and allowed bubbles to uh happen that are beyond the scale of anything we've ever experienced and um so anyway um uh this is flipping these upside down shows you what the the dollar the Euro the Yen the British pound because all of these are the dollar uh then uh adjusted by the exchange rate for the Euro the pound the


Yuan uh Aussie dollars Japanese Yen and Korean one they adjust it for this exchange rate and then they divide it by the price of gold and uh or by and then yeah they're taking the price of gold in dollars and then adjusting it to the currency and uh so uh this includes the the dollar just flip any chart upside down and since the beginning of this Century uh gold is more than storing value it's gaining in value and uh all of the currencies over the Long Haul have lost a tremendous amount uh well


from it's 250 to basically 2,000 so how many times is that that's eight eight times eight times the value yeah so it's it's yeah so it's lost roughly 80% the the dollar has lost 80% of its purchasing power to Gold yeah 78 88% basically yeah well okay excellent well I'm glad you're so good with math yeah okay we're gonna wrap this one up uh this is a dangerous time in history and as a gold dealer I get to see the amount of uh supply and demand for gold and right now uh it isn't the


public that is buying maybe it's the public in other parts of the world but uh right now you know sales are slow and so I know that people aren't protecting themselves in the period of time that is the most dangerous and at the same time offers you the greatest opportunity of true Financial gains if gold does this breakout in all World currencies you can look for some fireworks and then on top of that uh silver gives you leverage to gold and the the silver uh supply and demand and the the how suppressed the


price is uh gold should do a slingshot move but silver uh will probably lay and wait for a little while but then magnify whatever Gold's gains are by uh you know uh one and a half two times maybe three times possibly more who knows uh any comments on that before we leave uh no I completely agree with you I just hope that everyone uh takes the position that they think is going to make them safest uh before it's too late right right okay thanks and thank the audience for listening and uh we'll see you next time


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