원문 보기
So, of course, I expected gold to maintain its purchasing power, but I did n't expect the dollar to lose its value against gold so quickly. So I couldn't have thought that gold would just reach 5500. Now, at 5500, it may have temporarily overheated and is now in a correction. Under current conditions, when central banks probably have no other option but to print money.
They...they have alternatives, but these alternatives in a democracy are very painful. Therefore, implementing a tight monetary policy is very difficult. So, they will continue to print money, and under such conditions, the price of gold will likely continue to rise relative to paper currencies. Marc Faber, a Swiss economist, investor, and publisher of the report "Gloom, Boom, and Doom," notes that gold's rapid rise above $5,500 has demonstrated how dramatically confidence in fiat currencies can change.
Although a further correction highlights the market's volatility. The broader argument is that continued expansion of the money supply and depreciation of currencies can support gold in the long run. This backdrop is supported by continued demand from the official sector. Central banks purchased 289 tons in the second quarter of 2026, a record for the second quarter, while China added another 20 tons in August, continuing its buying spree.
Meanwhile, gold traded in a range of $4,300 to $4,400 in mid-September as markets focused on the Fed's latest interest rate decision. Mark Faber emphasizes that large market movements are difficult to accurately predict, as gold often moves in powerful jumps followed by corrections. The recent surge reflects a broader shift in purchasing power between gold and fiat currencies.
As central banks continue to pursue accommodative monetary policies, there is a view that gold may remain supported as a means of preserving purchasing power. At the same time, increasing gold purchases by central banks and efforts by countries such as China to reduce their reliance on dollar-denominated assets point to broader diversification away from US financial assets.
Before we delve deeper, let's hear the interview firsthand and dissect some of the most important thoughts they shared. But first, if you like this content, don't forget to like, subscribe to the channel, and click the bell so you don't miss our latest market updates. I don't think I could say about any price movement I've experienced in my life that I expected this to happen.
Do you understand? First, you never know when the market is going to turn. There are symptoms of events occurring that may indicate that the market is turning. And this means that the "bear " market is coming to an end or the "bull" market is coming to an end for any commodity or any asset. But the exact moment when the situation will change is unknown.
So, of course, I expected gold to retain its purchasing power, but I didn't think the dollar would lose it so quickly against gold. So I couldn't assume that gold would just reach 5,500. So, at 5,500, it might have temporarily overheated, and since then, as you know, it has been in a correction. It's like in 1999 : gold was worth $253 per ounce, then in 2008 it rose to $1,921, and then dropped to $ 1,500, and in general around $ 1,000 was the minimum.
And then it went up again. So, in the markets we observe a stepped movement: the markets make an upward impulse, then a correction , then rise again, another correction, and so on. And my point is that under the current circumstances, when central banks probably have no other option but to print money.
They have alternatives, but these alternatives in a democratic society are very painful. Therefore, it is very difficult to implement a tight monetary policy. So, they will continue to print money, and under such conditions, the price of gold will likely continue to rise relative to paper currencies.
Mhm. What do you think about oil, and it's not necessarily that wheat, corn, or soybeans will go up more than gold, but in general, if one's goal is to preserve one's purchasing power, then I think investing in gold is still advisable. Mhm. Yes. What do you think about China and the Shanghai Gold Exchange?
They aim to eliminate a significant portion of paper trading. We see many central banks continuing to buy gold. The Netherlands just got their gold back from the US. What do you think about these steps by central banks? They own printing presses and print a lot of money, but at the same time they buy up gold, which seems a bit contradictory.
Well, I'm not sure if it's controversial, but it's objective if you look at the US, the current administration and the previous one, when the US just takes and freezes the assets of other countries and so on . I don't know if anyone should have any desire to hold assets in the United States. That is, if I were a country, well, let's say Kazakhstan, Russia, China, India or Indonesia, or someone else, the US would be the last place I would keep my assets.
Yes. That is, you have to be crazy to keep all your money in the US if you are China. You have to be crazy. The discussion highlights growing concerns about government control, financial oversight, and the shift to digital forms of money such as stablecoins. Although digital payments are convenient, they depend on the internet and technological infrastructure, making it difficult to completely replace cash.
From this perspective, cash remains valuable as a simple offline medium of exchange, while tangible assets such as gold and silver can be an alternative form of portable value when trust in financial systems becomes shaky. Let's move on to the interview . Ultimately, the story of gold is not just about price.
It reflects a change in confidence in currencies, monetary policy, and the global financial system. As digital finance expands and central banks continue to accumulate gold, the role of physical assets in preserving purchasing power remains an important part of the big picture. socialist state. Well, now, under the current administration, it seems that the United States is a fascist state, where Trump turns his own interests into state interests, like the dictator of a third-world banana republic.
His personal interests are mixed with the interests of the state and private companies. And if he likes someone, he says, "Okay, let's deal with him." The US government and Western democratic governments control almost 50% of the economy. They have great power. They can give you a contract and say, "Oh , Darryl, you're a good guy.
Why do n't you do this for us? Even if it's nothing, we'll pay you a million dollars a day or whatever." Do you understand? So, you can subsidize the companies you like and force the ones you don't like to go bankrupt. This is essentially a socialist way of doing business. Now the alternatives, of course, are a Kamala Harris-style world where you move towards socialism, expropriate important industries, nationalize them, and shrink the private sector at the expense of the public.
So, those are two alternatives. At this point, as I said, the system looks more like a banana republic government than anything else. It's like in the comics, where there were dictators who were portrayed as absent-minded idiots. And that's exactly what the US government is like today. Yes. As a US citizen, I am concerned about stablecoins, well , one concern is the legislation surrounding stablecoins and what it could mean for civil liberties .
Uh, you know, it seems like this could lead to the introduction of a police state . We already have a police state. There is no doubt about it. If the government wants to know something about you, they have enough time, lawyers, and money to find out almost everything about you. Trust me. Mhm. It's easy.
Now, in most cases, the government is not interested, because what do they need to know about me? Well, the Swiss tax authorities want to know more because they want to tax me and so on. But other than that, what I do during the day, who I talk to, and so on —they're not interested in that, and they don't have time for that.
However, with artificial intelligence, you can learn about people's interests, what sites they visit every day, what they buy, what they sell, what their business contacts are—they can learn anything they want. If you don't want the government to know anything about you . You must disappear. Our friends—they disappeared.
I can contact them, and anyone can. But if they don't know you, they won't respond. They are not on Facebook. They are not on LinkedIn. They are nowhere to be found. Do you understand? They seemed to have dissolved. And they are billionaires. They are rich people, but they have disappeared. You can find them, but it's difficult.
And ordinary people won't find them. But, you know, I'll tell you today: you go through customs somewhere, you go through migration control — they have a record of you. You pay the bill somewhere—they might find out. Especially if you pay with a credit card. Cash is harder to track. Let's say if I go to a nightclub and give a girl a hundred dollars, that transaction is hard to track.
Do you think they will get rid of cash as they introduce these stablecoins over the years ? I think that's the idea. But I thought about it very carefully. I think cash will never disappear from society because it's convenient to come somewhere and pay. And these stablecoins, bitcoins and everything else.
Their disadvantages are that , of course, they require an internet connection or mobile phone connection, etc. And if the system is turned off, you won't be able to pay. Or if someone hacks your phone, you won't be able to pay. So, if you and I are going on a trip somewhere and want to pay, having the ability to carry out transactions as a medium of exchange, we need coins.
These coins can be in the form of pebbles, diamonds, rubies, gold, or silver. Of course, if you come to a department store or supermarket with a kilogram of gold, they won't be able to give you change. But if you come with, say, $10 worth of gold coins, then they can give you the change. Share your thoughts in the comments.
We want to hear your point of view. If you found this analysis valuable, please like, subscribe to Metal Wisdom, and turn on notifications to receive more news about gold, silver, markets, and the global economy. Don't just follow the headlines. See what's behind them . This is Metal Wisdom, where the market tells the story.
Comments 0