QUESTION: Mr. Armstrong,
If this “Nice Reset” motion pushes gold underground, what would that imply for gold producers? I recall studying in your weblog that when gold was confiscated in america to devalue the Greenback, gold producers have been completely happy as a result of governments began shopping for their product at a set value which allowed the producers to keep away from market threat. Do you see an identical sample emerge from these wishing to implement a digital foreign money? Is there a threat that producers could be pressured to close down? Actually, the closely-linked copper manufacturing trade is simply too priceless for them to sabotage?
Thanks as all the time for the nice perception that you just present. Trying ahead to the total gold report.
ANSWER: This time it will likely be totally different for they don’t have any intention of backing any foreign money with gold. To take action means they can’t benefit from the goal of this New Inexperienced Socialist World Order. They want to have the ability to create cash as wanted, therefore MMT. They’re doing this due to (1) the Sovereign Debt Disaster since they’ll not borrow at absurdly low charges which implies there’s a menace the place they are going to be unable to roll the debt perpetually as they’ve been doing, (2) there’s the Financial Disaster Cycle additionally coming into play.
They imagine that in the event that they cancel all foreign money and power everybody into digital, then that won’t solely finish financial institution runs, however it is going to finish the black market from working underneath the desk, suggestions that aren’t declared, to drug dealing and prostitution. As I’ve reported earlier than, in Rome, they handed a regulation that stated you might not pay a prostitute with a coin that had the picture of the emperor – which all of them did. The answer was to create prostitute tokens. You obtain the token, paid the prostitute with that, and later she redeemed the token for cash.
There may be all the time going to be some black market. I might suspect it will likely be primarily constructed on barter. There may be additionally the chance that personal cash will emerge because it did throughout the American Civil Warfare, German hyperinflation, and throughout the Nice Despair often known as Despair Scrip.
I can be detailing these adjustments in occasions within the upcoming Gold Report.