Why gold price is not at $6k already and why it was 'managed' by the government - Luke Gromen
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- Опубликовано: 29 июл 2024
- Gold is a political metal, and competes with U.S. treasuries, said Luke Gromen, president of Forest for the Trees, and because of this, government authorities have historically been trying to “manage the price.”
Gold has the potential to reach $6,000 an ounce but is being held back, Gromen said.
0:00 - Gold has been 'managed'
4:14 - Gold outlook for 2021
7:06 - Monetary stimulus and gold
9:30 - Supply chain disruptions
10:51 - Bond yields
12:50 - Gold price upside
16:00 - What's holding gold back from reaching $6,000?
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Finally Kitco brings on a guest who is willing to talk about the future contract gold manipulation. What took you fellas so long?
RUclips censorship
@@catseng3949 I doubt it. Mike Maloney only speaks about it and has never been censored.
The federal reserve is a private corporation not runned by the gov. The gov is the distraction card.
And manipulator control the market
Old is gold moment, rather than censorship or anything really. (As a guy who substitutes cocoa for coffee I'm most invested in why the cocoa market is being manipulated - damn you pseudo-Wonka!)
We must hold physical gold and silver
Silver??
@@paulpasman9341 yes silver eagles and gold eagles I hold gold silver and bitcoin
@@paulpasman9341 silver is a much better opportunity especially for the lower/middle class. Check out the supply/demand. Half the know silver ever mined is in a landfill, all the gold is in a safe
we hold golden in Turkey
Silver mined 9 to 1
Should be 110
Some say 35 to 1
That makes it 25
David, going forward, start each interview with an old Soviet joke. That'll be a good way make us prepared for what's to come here in America.
Ronald Regan was the master of USSR jokes.
😆 so true
*No 1: Don't Only Hope On Government's Responds On security Matter's And Economy growth,*
*No 2: As An Individual You Should Be Safeguarded And Also Look For Different Self Business And Trade Not Only Waiting on Betterment of Stock market activities,*
*No 3: Most Important Always Save The Little You Can And Think Of What To Do With It When It Become Good For Capital.*
*Because Government Have Failed Us In Aspect Of Security, Economics Activities And Other Trading Systems*
Vladimir Putin visits an old Soviet bloc nation, walks up to the border guard. The guard asks him three questions before letting him in...
Guard: What is your name?
Putin: "Vladimir Putin."
Guard: Country of origin?
Putin: "Soviet Russia."
Guard: Occupation?
Putin: "Not today, just visiting."
@God's Com'n Look to your own country neocon. You are losing your rights and your economy is on the verge of crumbling.
This guy makes a lot of sense
Agreed!
Will the price of gold and silver ever be allowed to trade at fair market value? I mean, this is just getting ridiculous.
seriously.. so hard to be a bull sometimes
the powers that be set the price at whatever they want it to be, us Peons do not. Could gold go a lot higher? sure but only if the global elite want it to or it could crash down to almost nothing if the elite want it to.
No
Someday soon Asia will be setting the price of gold.
@God's Com'n yea.....problem is, I've heard that 100 times before and they always manage to kick the can down the road. If precious metals can't have a decent move higher in THIS environment, then stackers have no hope. I don't know why your so certain things will implode within months. You may be right, because God knows, this system is so out of whack, but equally, you could be wrong.
EVERYONE BUY AND HOLD SILVER WE CAN DO WHAT REDDIT DID
Get em!
David, We need more expansion of the area you were covering at the end of the interview. Please have Luke Gorman back soon. Thank you... Excellent interview. Luke covered some areas that most guests never talk about.
Yes!! Please invite Luke back to expand on the derivatives and paper claims. Fascinating topic.
Good to see Kitco exposing the blatant gold and silver manipulation
Finally, it has been explained to everyone. I Have been thinking what Luke said for a long time.
Great interview! This is the best interview and explanation of macroeconomic forces I have heard and it was not 3 hours. Hahahahaha
Seek out every recent interview with Luke Gromen. He's on fire. Explaining very succinctly how economies are functioning on the dollar
Gold being "managed"(manipulated) for 50 years is old news to anyone on the space.
Gold and silver prices are manipulated every day.
How?
Absolutely correct about supply chain disruptions. I own rental property, tried to get a dishwasher and refrigerator, waited three months for it to arrive...and the plumber was booked for two weeks thereafter.
College-bound kids: Forget college, learn a trade (plumbing, electrician, carpenter, etc.) & have no student loan debt, get an apprenticeship and trade license, own your own business in 3-5 years, show up on time, speak English, do good work--you will be a multi-millionaire within 10 years.
The important part being _own your own business_ don’t just be a wage slave for making somebody else’s fortune.
I really like this interviewer; he asks real questions and challenges the guests.....
I love Gold Fans...”When should I buy gold...now...When should I sell gold...NEVER!”
HODL
Why is gold so low, and struggling to rise? Manipulation!!!
I guess I shouldn't buy it then? No, you absolutely should buy it!!!!!
If it’s really worth 7,000 per ounce I think that’s is a good idea.
It helps if the only research you do is youtube based "lets-talk-gold-up" videos. It's apparently a brilliant investment but the world is unfair.
@@SuperMiloBass 😂😂👍🏾
Versatile interview with a joke shows a skill beyond many 😃😳
were in a goldilocks for gold. $1800 price, on top of massive stimulus. hope everyone loading up.
Really good interview. This is one of your best guests in a long time.
One great interview !! Great explanations !! A seminar of high caliber.
A second viewing almost a must.
Luke Groman is one of the best guests KITCO has ever interviewed! Thumbs up David!
Heres my question.. banks pay big fines no one ever goes to jail. Why gold when its manipulated
One of the best interviews I’ve seen on Kitco. Abrupt ending, though...
Because it's how u.s. pays off debt. It inflates the currency and revalues money (gold) then pays debt fractions of a penny on the dollar ;)
Well said , it is not that hard to pay the debt as long as you have the reserve currency status , just print money , buy some gold or hard assets with that cheap money at a cheap price , then inflate the currency supply , sell some gold at higher prices and pay off the debt .
@@yassiamy Why not just print money and pay off the debt directly, why even need to play around with buying gold.
@@yassiamy AND THAT MY FRIEND IS WHAT IS HAPPENING TODAY, THE ONLY NITCH ONE COULD NOT COUNT ON WAS THIS PANDEMIC,?👍
We should consider ourselves extremely lucky to have gold and silver so artificially cheap - at least our government has done something for us!
Luke Gromen is one of the very best, for sure. Thanks
If everyone star using gold and silver as a currency, there is no way they can manipulate that , demand and supply very simple.
Price is what you pay, but value is what you get.
Value is remembered long after price is forgotten
Agreed! I shared a couple of undervalued gold stocks on my channel.
Extremely good interview. Thank you
Ive held gold since 900 CAD in 2009 for 140% gain. Owned the S&P index from the same time and am up 300% or more than double. In that time, Id say houses in most markets are up 140% so gold did what it was supposed to do and matched inflation. The market has outperformed inflation. Agree that gold is manipulated, but it still did what it was supposed to do.
I have held gold since 1999 when it was 252.50 per ounce. Gold is up nearly 900 percent since then. The stock markets are up nearly 400 percent. Guess which one I expect to out perform in the medium and long terms?
I loved the dishwasher / Russian joke. And the followup, "I guess I will be hand-washing the dishes for a month." LOL!
The sad thing is it wasn't a joke it was a reality couldn't get nothing in the Soviet Union
that joke was first made by president ronald reagan
@@MrRoelsnip Thanks. Yes I think it was Reagan-a great president!
But it was a lie, there is no lack of dishwashers in the stores.
Yeah, his missus don't wash dishes. No, mama.
We bought both a dishwasher and refrigerator this year. Both times took months due to parts shortages coming from China and lots of people with money and time on their hands creating demand.
Luke Gromen brilliant thinker and awesome leader!
It you're just stacking gold who cares where the price is going?
Thanks Kitco
Thank you for your good information
Thanks for all you do David
My man Luke!!! Getting the real deal knowledgable money managers that invests in gold.
$PSLV and $PHYS have been removed from Robinhood. I had some I was trading back in December and went to buy some the other day noticed they were gone. Of course the fraud $SLV and $GLD are still on Robinhood. Buy physical metal, but if you have a trading account or an IRA stick with $PSLV and $PHYS tickers.
Banksters 😎 💵 are still in control.
@Chris T This gives me hope 😃 ✌️
@Chris T believe that shit if you want to.
@Chris T The 13th Tribe and their tricks.
Watch it become ever more volatile as they lose control. I am in the market but also have reserves for buying the dips.
Honestly Bitcoin is the future
Every bitcoin investor right now is just smiling at the price of bitcoin as it held strong and indeed valuable enough to generating good ROI. More persons are gonna become millionaires and we have bitcoin thanks for that
Exactly you're right👍
@@helenshawn4400 I agree on your opinion man, generally I always look out for it to dump so I can purchase some more, truly I believe it has come to stay
What's really the idea behind this bitcoin investment, because all I do is buy when it falls and sell when it goes high
Okay
Luke Groman is the best! Great interview David!
So basically saying with the paper derivatives- it’s rigged.
The whole system is rigged. Stock, market, financial markets, courts , political system.
@@bmrigs wow ,but isn’t it .
Everything is rigged. Even “decentralized finance” aka cryptocurrency. All it takes is for the invisible hand to blow up the news outlets in the direction it is convenient for them. Watch closely and you will see
@@SabrinaDacosta 👍👌
Don’t call Bitcoin a security
Thin air security - not my thing either.
It is
Bitcoin ok for quick win but security no way 😂
@@svp2010 I get what you are saying (finally), many governments are talking of regulating such invisible coin, you will not be able to trade it without some proof as to where it has been before - bit like picking up a new pet dog with no clue of the breeders.
sorry for thinking you was a spelling bee xxxx : D
The best subscription I’ve made for years.
Where I can look at the ratio between foreign holdings US treasuries vs price of gold ? Thanks
Luke is the best
Excellent guest ,, and discussion by David
Very interesting interview.
It would be great if kitco did a segment purely on gold and silver manipulation, possibly a group call or a series of back to back interviews. Jim Rickards would be a good guy to have on....
We need our money to go back to being backed by gold. It needs to happen to get/keep the government honest.
Our corrupt leaders are the problem. Get rid of the Fed. Impose term limits. We had the best foundation for government and we blew it.
Great interview. This man is good.
I've heard this printing money and gold story for over ten years. It never changes.
JPM got fined 9-28-20 almost a billion dollars for precious metals desk manipulation. (Remember, they have 48 trading floors) JPM is the largest physical holder of silver in the United States.
Fine paid, hand slapped. (nobody went to jail of course) You think the Wall Street banks are worried ? 2018-2020 Janet Yellen made 8 million for "speaking fees" from Wall Street banks . Janet now "watches over" the Wall Street banks like JPM. JPM has to be laughing themselves silly right now. Nothing for JPM worry about here. Biz as usual.
Round and round we go. The word is Manipulation.
Thank you for the information.
David the dishwasher shortage is real. We ordered a dishwasher from Lowes in late November. Six weeks for delivery. Excellent interview
Stimulus financed by borrowing from investors or from foreign gov'ts is benign, but stimulus financed by Fed Res Bank money created out of thin air inevitably leads to price inflation. Law of economics. If you doubt that, check out Venezuela or Zimbabwe.
A key takeaway from this video is that.... at some point.... the RATIO of the price of (a) physical gold bullion to (b) "paper gold" will rise very substantially (even apart from the question of what the price of the gold itself will do). To put it another way, efforts by governments to manipulate the price of "paper gold" are.... for now.... spilling over into the gold bullion market; but that spillover effect won't persist indefinitely.
David is setting the a new standard for all in his field to catch up.
He is in a league all by himself at the moment.
If you got substance, you would loved to be interviewed by David.
He has this incredible ability to bring out the best stuff from you.
Hey, Paper GOLD big problem and fradulent ... thats NOT a real Gold market. Why didn't your guest talk about that????
Lots of supply chain issues, not just factories but parts manufacturers as well.
I recently purchased a motorcycle and dealerships are very low on inventory.
Like you interviews. Honestly after a day like today with metals down, I do not believe anyone knows what the are talking sbout.
Great interviewer and interview
Kitco finally allowing 'manipulation' discourse on the show - welcome to reality Kitco!
And now convince the CFTC LOL
1) Do you think that in response to rising national debt and threats to the dollar (and by derivative, all fiat currencies), governments might coordinate a revaluation of the tier 1 asset treasury gold certificates held on central bank balance sheets by high multiples in order to reduce debt and provide room for monetary tightening...and... that such a move could slow down or reverse BTC market cap increases? _(Info related to this question: Revaluing the US gold certificates from the current $42/oz to $42,000/oz would eliminate the entire US debt; so if BTC can rise 20x from $20,000 to $400,000 why couldn't gold rise 20x from $2,100 to $42,000? Also since allocated physical gold is held and traded on the blockchain down to a thousandth of a gram now (e.g. kinesis.money), is there really much practical difference between physical gold tokens and bitcoin to the average person besides their different speculative profile?)_
2) Do you think Central Bank Digital Currencies could be coded so that they can only be traded on a central nationalized exchange, thus generating BTC fees for the government should that currency be traded for BTC? Followup: If yes, then why hasn't a small country already put BTC in their treasury and taken measures to setup up this obvious way to increase the value of their international reserves?
3) Do you think a major incentive behind the creation of CBDC is so that governments have flexibility in how to deal with failing traditional banks in the future, that being making bank depositors whole by directly injecting non-debt CBDC into depositor accounts created at the central bank for that purpose so that failing banks can be allowed to fail with limited market turmoil?
This guy always makes me smarter. Macro genius
I like gold. I even like silver. I love bitcoin.
There are not enough containers in Asia to supply the West, where many of the containers are just sitting full or unloaded.
The joke about Soviet Union was toldby Reagan in ‘80s
This man is very intelligent
Very interesting index to the price of gold your guest brought in today. It applies only to US dollar and he came to the same numbers as others in terms of price. Yet, most of these prediction have a blind spot as governments move into the markets via different doors and livers. This way to measure, and others, are only valid if dollar weakens or - as he said - dollar status is questioned. The measurement is 'Foreign held us bonds as a percentage of market value of US gold'.
The sky is Golden, because there is a Silver lining in the clouds.
+Like for David's joke
Ronald Reagan
Brilliant. Legends. Thanks
True, very true. Manage, manipulate...semantics. Buy gold and hold.
Banks are very limited in the suspected gold manipulation case. They only represent 10% of current gold demand with consumer demand (like BTC) controlling 3/4 of all gold demand.
People who received Stimulus are not buy into the economy, they are paying past due bills, the one who don't really need the money are putting it into the Bank or are buying Gold & Silver. just my 2 cents.
Great interview
Is there more?
Nice knowing you exposing the corrupt gov
Nixon had multiple mistakes: 1) getting off of the gold standard instead of fixing the underlying problem; 2) opening the Bamboo Curtain; 3) creating the EPA and giving them too much power
The most hold back is a dealer don't even pay you the spot price. If gold goes $6000, so what?? You can't sell at that price. That's why people aren't interested that much.
Very informative..
Does anyone remember if people were talking about Gold/Silver like this back in 2012?? Citing all the macro-fundamental-indicators as it kept going down and down and down....
Great guest!
if I want to buy gold where should I buy it any recommendations
Money metals exchange
how about basel III and NFSR? I bet they delay for as long as they can though
The guest speaker shed some light on many new information
The private company federal reserve and fed income tax has been going on for way too long, the government needs to step in to fix this
9:13 Dave's joke follows. This guy is gold.
Noticed how the S&P, DOW, Nasdaq, and Bond Futures almost had SAME NEGATIVE DROPS AT SAME TIME OF DAY
MEANWHILE GOLD WAS UP AND DOWN BACK N FORTH.
I’m so tired of hearing about this. Buy 5-10% gold then go on with your life. Y’all should have been buying gold at 1250
Why don’t you watch something else then.
@@charlesoleary3066
You miss the point it seem 🙄
Si Vi no i dont miss the point, i have Gold and I am getting on with my life but his only point is to show off that he bought it cheaper so is therefore cleverer than you.
We need people who do not own gold, to get some now before the shit hits the fan
Probably my favorite news network to this day
Absolutely correct and reasonable.
I follow Luke on twitter and he's a very sharp guy. Nice guy too.
In 2011 i bought 50 dollars of bitcoin for 50 bucks it was one dollar for one bitcoin and you could use it online like paypal i never thought it would change much from that price
What the old guys don’t get is they’re not going to pay the debt back. They will soft reset global financials and rebalance with a SDR basket through the imf
*Cause its Manipulated the spot price by paper* duh Come on guys girls😂🤣🥂🔥
Where does everyone here buy their gold and silver from? Who is the best to buy from?
Apmex and Provident Metals are fine dude.
I like Money Metals Exchange
If gold and silver ETFs needed to have minimum 80percent physical, deliverable, metals wouldn't that be a fair way to cost such metals. When millions of oz are sold as ETFs and have no or little physical to back it. It is an artificial vision of supply vs demand
We need a video on Palladium as it has pulled back and seems to be ready to pop again
Palladium/Pd went from 116$ and run over 10 years over 22* till the price 2580$/oz. Pd overrun platinum !! So with "green energy/green cars" 1) Pt is cheaper twice than Pd 2) they will produce more electric vehicles 3) will be more platinum/Pt in catalisator and Pd - time to go down, 50-75 % (640- 1250 $/oz Pd ). I think so.
Gromen is one of the best. Gold will sit there until one day it doesn’t. We will find it on the moon by end of the decade. Takes longer than you think it does.