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the price of gold until 1971 was at $35 an ounce and now it is around close to2 2,700 so in my book actually gold has kept its purchasing power can we determine whether gold is expensive or cheap According to some statistic I could say that gold is not expensive according to others I can say it's expensive but I can do the same for say I look at the price of soybeans wheat corn sugar and of is it expensive or cheap it's more expensive than before the problem of monetary inflation is that it distorts everything everything becomes very murky historically during periods of high inflation gold remains stable or appreciates and proves to be a safe haven for investors in 2024 the all-time high price of gold was renewed many times quickly with the decline in the purchasing power of the US dollar the gold to CPI ratio reaching a new Peak signals more than just gold strength it highlights the broader economic forces shaping Our Lives various factors from government policy to natural disasters are driving inflation and reshaping the global economy for investors this underscores the importance of diversifying portfolios and considering assets like gold to protect against the ongoing erosion of purchasing power Mark Faber is renowned for his unconventional expertise in investment strategies and insights regarding precious metals in this video Faber reflects on the long-term performance of gold emphasizing its ability to retain purchasing power he emphasizes Gold's enduring value noting its rise from $35 to nearly $2,700 today Farber particularly States the distorted effects of monetary inflation which complicates assessing whether assets like gold real estate or Commodities are expensive or cheap from 2019 to 2024 the US dollar lost approximately 25% of its purchasing power due to inflation in comparison gold prices Rose from an average of $1,393 per ounce in 2019 to around $2,600 today an 87% increase this makes gold a clearout performer against the dollar preserving value during significant economic turbulence based on current trends Faber also points out that monetary and fiscal policies particularly the expansion of the money supply create a murky Financial system where traditional measures of wealth become unclear he warns that unchecked monetary inflation could lead to extreme de valuation where everyone becomes a billionaire in nominal terms but significantly poorer in real purchasing power the gold price tracks money supply growth for that reason the last 50 years have seen exponential returns in Gold fortunately for gold investors these parabolic money supply increases are far from over now we present the clips of Mark ferber's insights from his recent interview before we continue to discuss this please subscribe to our Channel and activate the Bell icon for timely updates you see when I grew up I remembered very well what the price level was in Switzerland and when I go back to Switzerland now I mean I live in the north of Thailand I can compare the prices that exist now with the prices that existed in the 50s and 60s and then I look at the price of gold the price of gold until 1971 was at $35 an oun and now it is around close to 2,700 so in my book actually gold has kept its purchasing power the price of bread is not up as much as the price of a gold of ounce as an example but but the price of insurance premiums is up may be more so so I think that people should own some precious metals I like now Platinum I think Platinum is a relatively depressed and in a bull market for precious metals it can go up but what I wanted to say about gold I don't think that gold is that cheap but then I look at the whole financial system you see when I started to work on Wall Street the market capitalization of the US was just 25% of GDP now it is close to 200 about 170% and the whole bond market in America was less than a trillion dollars was around $900 billion and now you know how big it is I don't even want to guess like trillions like yes I mean that you can't imagine what is the number then I'm saying to myself can we determine whether gold is expensive or cheap According to some statistic I could say that gold is not expensive according to others I can say it's expensive but I can do the same for say I look at the price of soybeans wheat corn sugar and so those is it expensive or cheap it's more expensive than before but is still depressed relatively speaking compared to other prices that went up much more mhm the problem I want to explain to you and your viewers the problem of monetary inflation is that it distorts everything everything becomes very murky it's very difficult to say is my house expensive or cheap because of monetary inflation and then there's also the fiscal aspect suddenly the government in their in its ultimate wisdom and we see it's wisdom how they handled the fires in Los Angeles this is now a good example of government's competence it's a complete disaster what they've done anyway what I want to say is in monetary inflationary times when the government issues more and more money it becomes very difficult to determine I'm wealthier or poorer because everybody soon will be a billionaire it will be a billion like in Zimbabwe in his Outlook Mark Faber offers a sobering macroeconomic Outlook questioning the accuracy of government published statistics like inflation and economic growth he argues that real cost of living increases likely between 5% and 7% far exceed official figures suggesting a contraction in real economic terms rather than growth despite the economic impact of the Corona virus pandemic the global inflation rate fell to 3.26% in the pandemic's first year before rising to 4.66% 2021 this increase came as the impact of supply chain delays began to affect consumer prices more before the Russia Ukraine war exacerbated this further a series of compounding issues such as rising energy and food prices fiscal instability in the wake of the pandemic and consumer insecurity have created a new Global recession and Global inflation in 2024 is estimated to have reached 5.76% this is the highest annual increase in inflation since 1996 furthermore Faber criticizes the federal reserve's policies for burdening middle and lower income households with higher costs and interest rates he highlights this economic disparity as a global issue affecting countries like Germany and England let's get back to the interview statistics that are published by the government and private statistics that may show a different picture because in democracies unfortunately government agencies like the Federal Reserve or the Bureau of Labor Statistics and course they will not tell people the truth I mean if you look at the US economy as an example statistically it is still growing assuming that the inflation and by inflation I mean the cost of living increases exceed what the Bureau of Labor statistic calculate at the present time the Bureau of Labor statistic says the cost of living of people are going up by 2.7% per anom but let's assume they go up by by 5% to 10% as some private Economist suggest my estimate is somewhere that your cost of living and my cost of living and your VI's cost of living goes up between five and seven or more now assuming that these figures the government is using are not correct then we're not talking about economic growth but actually a contraction in real terms inflation adjusted in other words if you look at the at the 7 % of us households they're struggling but the fed's policy with money printing Has Lifted the standards of living and the wealth of the 1% of the population massively because housing prices are going up and stock prices are going up so all these people they are much wealthier than before including myself I don't borrow money I have deposits for me it's Christmas time each time in interest rates go up but for poor people who have mortgages outstanding or Consumer Credit eacham interest rates go up it's a disaster the feds policy have actually as they always have done in the past they have favored Wall Street and the rich people of the middle class and the lower classes the lower income recipients so that is the state of the economy and not just in the US it's worldwide the same you can go to Germany or England simple people Ordinary People they're all struggling all of them and I can tell because I go to bars frequently so I see how much people spend The Big Spenders are absent it's predicted that the price of gold will soar in the next 5 years if inflation takes hold and the economy underperforms expectations this would be a more risk-off Outlook where investors sell their riskier assets to seek protection in Safe Haven assets how do you perceive the role of gold in safeguarding wealth during periods of inflation and economic uncertainty drop your thoughts in the comment section below if you find this video informative don't forget to support our Channel and turn on notifications to stay informed 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