COVID Caused Massive Money Printing Like Never Before

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Nick Barisheff, CEO of Bullion Management Group (BMG), is seeing an explosion of money printing in America and around the world. Barisheff wrote a book in 2013 that predicted “$10,000 Gold” (per ounce.) Back then, the official U.S. federal debt was around $17 trillion. Now it’s $30 trillion. Barisheff says his soon-to-be-released follow-up book is going to be called “$50,000 Gold” as the U.S. now has tens of trillions of dollars in commitments, debt, and off-book unaccounted for money. Barisheff says, “Based on the amount of debt that is there, the current gold price should be at $3,000 (per ounce) and not $1,700, and it’s going to keep rising.”

One good reason precious metals are going to keep rising in price is COVID.  Barisheff explains, “Right now you have massive debt and money printing like never before... other than going to Zimbabwe and Germany. This is what’s happening. When that happens the value of the currency declines, particularly against gold and silver. The price goes up and you end up with runaway inflation. It can’t be anything else. When you print too much money you are going to have the price of goods go up. Compounded with that we have the biggest equity bubble ever in the United States. The bubble is bigger than in 1929... All the valuation measures are at or above the 1929 levels already. Real estate is in a bubble, especially in rural and country properties. 

On the other hand, commercial real estate such as hotels, retail, and office, etcetera, are facing tremendous pressure because people are finding they can work from home. The tenants are going bankrupt because of the lock-down measures. Eventually, the landlords are going to start going bankrupt. Then, mortgages will go into default and it will make the 2008 crisis look like a party.”

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Disclaimer: The information contained in this article/video provides a general overview of subjects covered, and the expressed personal views and opinions are not intended to be taken as advice ...

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