Stefan Gleason Blog | Globalists Poised For A “Great Reset” – Any Role For Gold? | Talkmarkets - Page 2
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Gleason is president of Money Metals Exchange, a national precious metals investment company and news service with over 450,000 readers, 35,000 paid customers, and $120 million in annual sales. He launched the company while president of a national newsletter publishing ... more

Globalists Poised For A “Great Reset” – Any Role For Gold?

Date: Tuesday, December 1, 2020 5:58 AM EDT

The Fed’s “dual mandate” of stable prices and full employment is now effectively an unlimited mandate. It includes raising price levels to impose higher rates of inflation on workers and savers.

Some gold bugs imagine a scenario where the Fed abuses its currency creating powers to the point where the public loses confidence in the U.S. dollar, forcing the authorities to back it with gold at some extraordinarily elevated price.

The coming great monetary reset is unlikely to play out that way, however.

Central bankers and Keynesian economists dogmatically believe their theories are superior to a sound money system. They are more likely to double down – implementing a digital dollar (perhaps merged with a global currency regime) that is delinked from anything tangible, including coins and paper bills.

Gold’s role in the monetary system post-Great Reset will be to reflect its excesses and failures. In fact, the precious metal has been playing such a role ever since the U.S. moved to a purely fiat Federal Reserve note.

When the last vestiges of the classical gold standard were rescinded in 1971, gold prices traded in the low $40s per ounce. Earlier this year, the monetary metal traded up to record high prices above $2,000.

Gold prices have risen 50x over the past 50 years as a reflection of the loss of the dollar’s purchasing power.

Thus, a de facto gold standard is still in force – and will continue to be regardless of what the Great Reset brings.

Those who own precious metals are effectively making a Great Escape from the global fiat regime entirely and resetting their purchasing power in sound money. It will more reliably preserve purchasing power in the years and decades to come than any central banker-issued paper or digits.

 

Stefan Gleason is President of Money Metals Exchange, the national precious metals company named 2015 "Dealer of the Year" in the United States by an independent global ratings group. A graduate of the University of Florida, Gleason is a seasoned business leader, investor, political strategist, and grassroots activist. Gleason has frequently appeared on national television networks such as CNN, FoxNews, and CNBC, and his writings have appeared in hundreds of publications such as the Wall Street Journal, Detroit News, Washington Times, and National Review.

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