GoldSeek Radio Nugget - Alasdair Macleod: Currency Collapse, Gold & Silver Investment Strategy

Alasdair Macleod, head of research at Goldmoney, reviews the macroeconomic themes underpinning the stunning gold-price rally.
- The erosion of purchasing power is best illustrated by soaring prices.
- Can inflation be accurately calculated via the gold price?
- Is the credit market facing a crisis-related, reset-moment?
- The historical precedent of gold as sound money.

I'll just quote one thing, which I think I've quoted several times before, not necessarily on your show. Back in 1923, you could have bought a six-bedroom house in a swanky part of Berlin for the equivalent of a few ounces of gold. It was a hundred dollars for a six-bedroom house, for goodness' sake. In those days, the dollar was on a gold standard, and it was the equivalent of just under five ounces of gold. So, you don't get any protection in a currency collapse...

- How does the BRICS currency factor into the gold-bull market?

I mean, the good news in all this is that while paper currencies are falling apart, the Asian hegemons have the gold. They can put their currencies onto a gold standard. They're talking about coming up with some sort of gold-backed trade settlement currency for cross-border trade among their members. So the world is going to go on, and I'm glad to say it's the majority of the world. It will be us who are in trouble...

- Alasdair advises avoiding credit at all costs.

So I would say, don't be too hopeful that you can escape credit issues by getting into what we see as inflation hedges because when credit goes, forget the inflation hedges. Now, you mentioned silver, and I think that's a very interesting one for people who know what they're doing. I emphasize you have to know what you're doing. I think silver is a very good stepping stone into gold. What I mean by that is that as gold rises from here, silver should rise roughly twice as fast. That has been the relationship...

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