from Birch Gold Group:
This week, Your News to Know rounds up the latest top stories involving precious metals and the overall economy. Stories include: Steve Forbes believes a return to the gold standard is coming, one respected analyst forecasts $4,821 gold by 2030, and analysts are now eyeing $50 silver as an inevitability.
TRUTH LIVES on at https://sgtreport.tv/
Steve Forbes predicts an imminent return to the gold standard
In an analysis that will satisfy every sound money enthusiast, Steve Forbes opens with the title: The Signs Are There: The Gold Standard Is Coming Back.
Forbes is noticing many of the points we have been raising for months and years, as one would expect from the owner of a large financial publication. He opens with an interesting bit:
It’s hard to believe, but the world is beginning to lurch toward a gold-based monetary system. This, despite the fact that the historical gold standard is held in almost universal contempt by economists and financial officials.
Is it that hard to believe, though? We have heard time and again that the world always returns to gold. The very same economists and financial officials that hold gold in contempt, probably while hoarding it privately, are modern monetary theory (MMT) hype-men. Any kind of return to gold represents a concession, if not a total failure of the current monetary system. It says: we tried free-floating money, and it didn’t work, but we promised it will, and now most people are worse off because of it.
Forbes details as much, listing some obvious points that are practically being buried by the mainstream:
Contrary to numerous myths based on ignorance, the system worked. The U.S. was on a gold-based system for 180 years until the early 1970s. We never had inflation when the dollar’s value was tied to the yellow metal, and the U.S. experienced the greatest long-term economic growth in human history.
Since the greenback’s link to gold was severed, our average historic growth rates have fallen by about a third. Median household income today would be at least $40,000 higher if our traditional pattern of growth for those 180 years had been maintained.
Forbes doesn’t go too deep into how damaging inflation has been for everyone besides the ultra-wealthy and the official sector, but instead focuses on the signs that a gold standard is looming.
They are mostly points we have covered in detail, such as:
Central banks have been preparing by buying tons of gold on a monthly basis.
The rise in cryptocurrencies shows a loss of faith in government-issued currency; people would rather trust private currencies. (He’s also pretty optimistic on the idea of gold-tethered cryptos, which might become a necessity if MMT continues and the official sector continues to reassure us inflation is a temporary and minor issue.)
