THIS IS HUGE! Gold Prices Ready to Hit New All-Time Highs In 2024 - David Morgan

THIS IS HUGE! Gold Prices Ready to Hit New All-Time Highs In 2024 - David Morgan

While gold appears overbought, it's still relatively cheap when adjusted for the amount of currency printed. They argue that if we were to return to a sound money standard, gold would need to reach about $20,000 per ounce, which is roughly eight times its current price. Reflecting on past performance, they note that from 2000 to 2011, gold experienced a seven to eightfold increase, rising from about $252 to $2,000. They believe a similar price surge could happen again, suggesting that gold could potentially rise to $10,000 or even $20,000 per ounce.
David Morgan is a well-known figure in the financial world, especially recognized for his expertise in precious metals. He highlights a financial adage in a fiat system, true deflation or debt liquidation never occurs. During the 1930s, under a gold standard, currencies became more valuable, and prices fell because gold was confiscated and repriced, stabilizing the currency.
In contrast, fiat regimes historically lead to hyperinflationary depressions, characterized by high unemployment, uncertainty, lower living standards, and a failing currency. The only currencies that remain stable are those backed by tangible assets, like gold. There is speculation that BRICS countries might introduce a gold-backed currency, which could attract significant market interest if implemented.
David argues that while gold-backed currencies can work, the issue lies in human dishonesty, not the gold itself. In a gold standard system, the main problem arises when more receipts (currency) are printed than the gold held in reserve, leading to dishonesty and theft of purchasing power. A historical example is when the UK and France demanded gold from the U.S. in 1971, suspecting the U.S. was issuing more dollars than it had gold to back them, which led to Nixon closing the gold window. Even in a modern blockchain environment, human errors and dishonesty can still occur. The only true guarantee, according to the speaker, is a gold and silver coin standard.
David Morgan suggests that while central banks have started increasing their gold purchases, the broader public hasn’t fully joined in yet. According to the World Gold Council, central bank gold buying is at a 50-year high, though some dispute the exact numbers. As economic conditions worsen in the next few years, the trend of central banks accumulating gold is expected to accelerate. For instance, China officially reports holding about 2,200 tons of gold through its central bank, but the true figure, including private holdings within China, might be closer to 30,000 tons, showing a much larger hidden reserve.
Silver is currently a better investment than gold, with the gold-to-silver ratio at 78:1, meaning it takes 78 ounces of silver to buy one ounce of gold. Silver is seen as undervalued and more accessible, especially in times of economic distress or barter situations where it can be used as money. Investing in silver, particularly at or below its production cost, is considered a solid long-term investment strategy. The speaker compares buying silver to entering the silver mining business—by purchasing and holding the metal, investors can profit as prices rise in response to scarcity.
David Morgan believes the economy has yet to hit bottom, which will likely occur in the next two to four years, marked by a major change in the currency system. This bottoming out will bring lower living standards, fewer goods and services, and a realignment of values, similar to the 1930s Depression. While there may be social unrest, the hope is that society maintains a high moral standard. Once the economy hits bottom and a new foundation is established, the speaker expects a swift recovery.

Educate my audience about silver gold, chris vermeulen, silver bullion, gold and silver news, silver news today, silver news, gold investment, silver price predictions, silver and gold, silver price, xrp, silver stacking, free market economics and the principles and benefits of individual liberty, limited government and sound money. These are America's founding principles, guaranteed by the U.S.

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Information presented on this channel is for news, education, and entertainment purposes only is not intended as a solicitation of the sale or purchase of securities or investment strategies or a substitute for professional investment advice.

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[walterblack]

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[JackieBaker-ek]

Agree. Very likely we r headed for a decade long bear market in all western assets. It will be a period of geopolitical n currency changes. Within US this is the chance to do the long-needed economic n social n government reforms. If we succeed, US will be on a long-term sustainable growth path in a decade. But we must take the pain 1st n do the adjustments. From investing pov, sell all US, european equities n bonds. Go long Gold and Crypto. Go long emerging market I have managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to Adriana Jensen whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.