If you want some good technical analysis of the situation in the Gold market for 2023 and 2024, then I refer you to a video on the YouTube channel Kinesis Money “Live from the Vault” Episode 155, entitled, “2024 reveals a Gold Bear Trap” featuring the very brilliant Andrew Macguire.
It’s a long and highly technical video in which he uses a lot of industry jargon, but occasionally, he expresses things in plain terms which is comprehensible to us ordinary folk.
In this video I will give you a number of quotes from the video that I think are easy to understand and worthwhile.
He reminded the audience that Gold was reclassified as a 1st tier asset in 2023. And he said “Gold is money.” If you want to understand what he means by this, I’ve done two videos entitled, “Money” and “Money v Currencies”. These two videos should give you an idea of how important such a seemingly simple statement actually is.
Andrew talked about the rising price of Gold … he said that “the story is about Dollar debasement as benchmarked against Gold - not Gold rising in price at all. This year’s estimates for how many Dollars it will take to buy the same amount of Gold have been grossly underestimated.”
I agree with this. As I’ve said in many, many of my videos, we’re in the midst of a Currency Crisis. The Dollar, along with all the other major currencies of the world are failing. They are being deliberately debased or devalued … whatever terms you want to use.
I did a video entitled “The Dollar v other currencies – a basket of rotten apples” where I looked at the difference between relative values and real values of currencies and I also compared the currencies to Gold – referring to Gold as the best measuring device for currencies that we have.
The other thing to say in relation to this issue is that us ordinary folk experience this debasement of currencies as inflation. Moreover, people usually think of inflation in terms of rising prices, but I think that it’s a mistake to think of inflation in this way. I refer to you two separate videos that I’ve done entitled, “Inflation – “Rising prices” v “Purchasing Power” and “Purchasing Power of currencies – weight-lifter analogy” which I obviously recommend watching.
Near the end of the video, Andrew says, “2024 brings forward a major inflection point in how Gold measured in all fiat currencies will be priced.”
I agree with this statement also. The Dollar, along with all the other major currencies of the world, are fiat currencies and all Fiat Currencies have limited lifespans. The Dollar and all the other major currencies of the world are in the end phases of the of their lives. I’ve done a video about “Fiat Currencies” if you want to find out more.
Later on in the video, Andrew said, “There will come a time when no amount of Dollars will actually buy an ounce of Gold. Think of the wheelbarrows of printed Deutschemarks it took to buy a loaf of bread.” He’s referring to the Hyperinflationary event that took place in th
