저자: The Economic Countdown · 외국인
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big day of reckoning coming for america and it's coming very soon mainstream financial media is completely ignoring i mean you're asking questions that not only don't they have the answers to but they're not even smart enough to ask the questions when you see a guy like warren buffett moving into a barrick gold as to what does this imply as far as what warren buffett's outlook is for the u.s economy and for the dollar and for inflation and and for the bond market when buffett was bad-mouthing gold in the past i mean what he really was saying was that gold is not the best hedge against inflation it's a non-productive asset it just sits there and warren buffett always says that he likes to own businesses not even stock he likes to buy businesses and obviously he does that through the stock market but he's investing in underlying businesses because he thinks that businesses provide a good hedge against inflation they have real assets you can raise prices it's just that now i think warren buffett realizes that inflation is going to be much worse in the future than it's been in the past and warren buffett knows that during periods of very high inflation which we've had in the past that's when gold really shines so i think what this move shows you is that buffett now understands the traditional hedges that he's used for inflation are not going to be adequate for the severity of what's come because buffett knows what inflation is he defines it as an increase in the money supply he correctly labels it as a tax uh and so he knows that he knows it's just not rising prices he could see the federal reserve debasing the dollar he sees the deficits he sees all the spending and so he understands goal's going to go up but i think the reason he chose to buy a gold mining company rather than just the metal is because he likes the business aspect of barrick gold because they make money mining gold and he's not even just buying their income streams but when you buy barrick gold you are in effect buying all the gold in the ground in the mines that they own he knows is going to be far more valuable in the future than it is today i have been warning about a dollar crisis for a long time in fact if you go back to my first book crash proof how to profit from the coming economic collapse and that book predicted the 2008 financial crisis because i wrote about how the federal reserve had inflated this housing bubble and that when the housing bubble popped we would have this financial crisis it's the worst recession since the great depression 10 unemployment trillion dollar deficits and that i i wrote at the time that the the government would respond to this crisis they would print more money they would slash interest rates and they would attempt to reflate the bubbles i believed at the time that that action that all the money that they would print uh in order to try to reflate these bubbles would cause a dollar crisis what i got wrong at the time was underestimating the ability of the fed to not just attempt to reflate bubbles but to actually succeed i was surprised that they were able to blow up a bubble that was bigger than the one that popped in oh eight but they did and because they did that we were able to kick the can down the road uh you know until now but during those years of can kicking all of the problems that led to the 08 financial crisis have gotten so much bigger we have a lot more debt now than we did then we made far more mistakes because interest rates were even lower for an even longer period of time so the federal reserve has screwed up the economy in a far worse way than it did before so now i think the dollar crisis that i have been warning about and helping my clients prepare for is just around the corner i mean the dollar is going to implode and and you know you mentioned back in 1971 we went off the gold standard we did but the world did not go off the dollar standard the dollar was marked down dramatically during the 70s but the world continued to hold it as a reserve currency i think the significance of what's about to happen is the world is now going to go off the dollar standard well people have to appreciate how great of benefit the dollar being the reserve currency has been for the u.s economy it's kind of like if you had a checkbook and you could just write checks and buy stuff you didn't actually have to have any money in the bank you could just write checks and buy what you wanted because nobody ever cast your checks they just circulated people just took your checks and and passed them around and so you could live a great life and buy whatever you want if no one cast your checks and that's what's been going on no one's cashed their dollars in no one's taken their dollars and tried to buy anything that we make they just hold them they buy bonds they buy stocks you know but they don't buy real stuff so we haven't had to make good these ious so we're able to import all these products and consume them and we don't have to export products to pay for them we're able to borrow all this money but we don't have to say the world does it for us so we've had this whole bubble economy this consumer-based economy that is on the foundation of the dollar's reserve currency status when the world rejects that and goes back to the gold standard which is not this archaic thing people think oh that's donate we were on the gold standard until 1971.
even though it was a dollar standard the dollar was backed by gold and redeemable in gold so the dollar was as good as gold at least that's what everybody thought uh who who signed on to this so we're going to go back to the monetary system that existed before the dollar was a fiat reserve currency the world is going to back their currencies by gold rather than u.s dollars that doesn't mean we're going to be transacting in bars of gold it just means that foreign central banks are going to hold more gold and that's going to be the primary asset that backs up their their their currency and so in that world where the world is using real money and not dollars now america is just another country now if we want to consume we have to produce we just can't you know run huge trade deficit if we want to run these big government deficits we got to fund them americans have to save americans have to lend this money to the government you know we can't we're not going to get it from the chinese or the japanese or the saudi now if we try to get it from the federal reserve if the fed is just printing money but the dollar is not being held as a reserve currency then we just have massive inflation or maybe even hyper inflation you're not going to see real estate prices crash or stock prices crash because the value of the dollar may crash more so it's like you know if i'm in a car and i'm going backwards at 20 miles an hour and the car next to me is going backwards at 30 miles an hour it may look like i'm going forward but i'm not it's just i'm not going back as quickly so you could be losing wealth in an asset that you think is appreciating but it's not because you're measuring the value of that asset in a currency that's losing value faster than the asset itself because the federal reserve can print an unlimited amount of money there's nothing that stops them and that's what they're doing so they're going to destroy the value of the dollar the government is going to try to prevent prices from coming down that's what they want they don't want the stock market crashing they don't want the bond market crashing they don't want the real estate market crashing so they're going to sacrifice the dollar to prevent all that from happening i think gold can easily at this point go to ten thousand fifteen twenty thousand uh you know it's gonna go much much higher i mean look at where the dow jones is you know the dow jones is what 26 27 out whatever that is uh you know i could easily see the price of gold and the dow jones being the same i mean they were the same in 1932 they were the same in 1980 so i think that they will be the same again i just don't know exactly at what price they'll meet but i'm pretty sure they're going to meet or come close to meeting and and so it's probably not going to happen with the nasdaq the dow down at 5 000.
uh maybe it could happen at 10 000 but maybe it'll happen at a higher number i mean they can both need at fifty thousand you can have the dow jones at fifty thousand and gold at fifty thousand dollars an hour gold is fifty thousand dollars an ounce you have to understand that fifty thousand on the dow may mean that you're poor even if you own stocks and the dow jones is at 50 000 if a ounce of gold is at 50 000 you have to ask yourself how much is a loaf of bread gonna cost me right so everything is relative you know forget about the number it's the purchasing power that matters not how big the number is but what you can actually buy
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