gold news

 hi this is Mike Maloney from up on the ranch and in today's video John Paulson says that now is the opportune time to buy gold a couple of authors suggest that the U.S treasury should allow gold's price to go from its statutory rate of 42.22.22 cents up to Market rates to avoid the debt ceiling debacle and the Bureau of Labor Statistics has revised the inflation estimates for the last six months of last year all up that and more in this video so the first article John Paulson is now now is an opportune time

to buy gold and as I go through this article he says the Dollar's devaluation due to inflation and geopolitical tensions will drive gold up considerably this year and uh that this is over the next three to five years that he thinks that gold is going to be an excellent play a uh you know and that's obviously what I think uh that we're going into a recession that the U.S government overshot its response to the covid pandemic and that the amount of printing that the U.S Central Bank has done uh in

order to stimulate the economy is going to be a cause for further inflation I agree uh prices haven't risen yet enough to soak up all of the excess currency that was created now most of that currency flowed into the stock markets and so on as it comes out as people start cashing in because they're getting afraid of a recession that means that it goes into their checking accounts and then they buy other stuff with it so I I think we are going to see inflation for some time so as proof of this central

banks have bought up a record amount of gold in the past year and I'm going to show you that in a few minutes because this article suggests another article at the end and that's what it's about gold will go up and the dollar will go down he says so you're better off keeping your investment reserves in gold at this point uh if you possess physical gold you don't face geopolitical risks and that's what I like is physical gold I do have some uh silver explorers and some other

mining stocks but it's a very small sort of gambling portion of my portfolio uh we're at the beginning of trends that are going to increase demand for gold and inflation and Geo political tensions will determine the rate at which gold increases and so he sees uh that this is going to be an excellent investment for the next three five and even ten year basis uh he says we're going to enter a recession and that all of the currency that the Federal Reserve has created over the past few years it's like having

a party there is a big hangover coming now uh the central banks buying Mo the most gold since 1967. well you know that was when we were on the Bretton Woods system and when they were all using gold as their base currency that was the monetary base was gold back then uh the foundation of the monetary base and uh and so this is you know we've we've talked about this in several videos but this is huge uh if the central banks are buying uh that's sort of a cue that it's probably a good

time for the public to be buying uh this article fixing the debt ceiling crisis via gold suggests that we should allow gold the gold at the treasury to be revalued but the gold isn't at the treasury the gold has all been pledged to the Federal Reserve and it is what backs the Federal Reserve notes so they really can't do this uh the way that the authors are suggesting but if you go to the h.4.1 release from the Federal Reserve and you go down to the bottom you can see collateral held against Federal

Reserve notes and there is gold certificate account of 11 billion 37 million uh dollars worth of gold but that is at the statutory rate of 42.22.22 cents and so they would need to just revalue it however uh it would be that only it doesn't even give them half a trillion it gives them 480 billion or 460 billion uh if they revalue it to today's prices and we're going to run a deficit that's going to be closer to 2 trillion than it is to half a trillion and so it's not going to

work we would just run up against the debt ceiling again you know Powell says that the only way out of this is for them to raise the debt ceiling this is the debt ceiling is just a bad joke that they keep on playing on us every four years uh and to my mind it's pretty much something to be ignored uh you know they make all of these threats and the first thing they do is shut down uh any uh services that make the public hurt and then they start robbing other government accounts to keep on spending at the rate

that they're spending for all of the things that they consider necessary but they'll make the public hurt to as much as possible to try and win this thing and to try and force the debt ceiling to go up and try and force one party to you know pass this budget that anyway uh so what would be a better idea is to just fully back all of the Federal Reserve notes so you transfer all of these uh uh the collab the other collateral all of the treasury bonds and agency debt over to the other accounts at the fed and

then they can create uh digital dollars and give them to the treasury and they use gold to back the paper notes if they did that it would be about eighty six hundred dollars per ounce so they would just have to declare a new price for gold and make dollars redeemable for gold which basically they are right now you can redeem them for gold through my company goldsilver.com uh so uh Mike shedlock Mich uh he just uh did some good analysis on the uh Bureau of Labor Statistics uh revising the revisions of the CPI and

for the last six months of last year it was all revised up but there's this pattern that you can recognize they actually revise it down for most of the months in in the first half of the year and then they revise it up in the last half of the year and then down in the first half of the year and then up in the last half of the year so this is an interesting pattern that keeps on repeating but you know if if you think stuff is more expensive than the Bureau of Labor Statistics and the government is telling us it is uh you

were right they were wrong and so moving on uh Adam Hamilton is somebody that I've been following for many many years and uh in this uh article that he just wrote he basically talks about the big pullback that we had earlier this month in gold and suggests that this is the buying opportunity so does Paulson he's saying it's the buying opportunity and at the end of it he says the bottom line is gold just suffered a sharp pullback which is healthy markets naturally flow in ebb taking two steps forward and one

step back and so this is a counter Trend sell-off that is an opportunity it's a good time to be buying and here is the sell-off that he's referring to and it looks like the sell-off has is over with it has found support and there is a lot happening in the economy you know in writing my book uh this stuff that they have done to the global economy is so scary that uh that I mean the more research that I did on this uh I started to actually become paranoid and started getting ready for something uh really

really bad that's uh the reason for the ranch basically but the more research I did into it the more worried I became over the entire the global economy I think that we are in some trouble it will probably take longer to play out but what happens with these things is they start out slowly and then they start going faster and faster and then a whole lot happens very very quickly at the end if you remember the global financial crisis of 2008 you know Ben Bernanke was saying don't worry everything is fine there's no crisis

Brewing uh you know there is no recession stuff like this and then they're on TV saying that they had to bail out all of these uh Banks and so on and that uh you know Lehman Brothers is going under so anyway um so you know please visit goldsilver.com take a look at the news on our website and you can keep up with all of this I want to thank everybody for watching please like And subscribe if you got anything out of this and we'll see you next time thank you