$10k gold, credit collapse, dollar devaluation: This is the ‘course of the empire’ - Dan Oliver
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- Опубликовано: 7 июн 2024
- The natural course of the U.S. “empire” is that of currency devaluation and an eventual credit collapse, said Dan Oliver, founder of Myrmikan Capital.
“What backs the dollar? The Fed’s assets do, and if you look at the Fed’s assets, what do they own? They own a bunch of Treasury bonds. They own the debt of an insolvent Congress,” Oliver told David Lin, anchor for Kitco News. “If and when, I think when, the U.S. power starts to devolve, starts to fall apart, the market will say ‘what is behind that dollar?’ and the answer is very little.”
Follow David Lin on Twitter: @davidlin_TV ( / davidlin_tv )
0:00 - Credit collapse
4:25 - Taper tantrum
9:17 - Fed mandates
15:00 - Gold and inflation
18:22 - Gold and real interest rates
20:30 - Alternatives to gold
22:00 - Cryptocurrencies
25:22 - Catalyst for $10k gold
#gold #Fed #economics
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Gold and silver are so manipulated to the point where it’s a literal joke lmao
Yes gold even more so
When the dollar crashes gold will skyrocket.
Exactly buy Bitcoin.
@@michaelkavanagh5947Best to remain diversified and invested in both.
Bitcoin is speculative, gold is a true asset
This was one of the best interview in a while... Great guest, focused and collected and with strong arguments.
This guy is really knowledgeable. Perfect combination of history, economics, and finance. Loved it💜
Ditto. Well grounded and knowledgeable guest who doesn't live in the Matrix.
He only misses 300 steps in economics
@@gdwalker13 Could you identify a few?
$10k gold? Let’s first try to stay above $1700…. 🙄
Finally, someone who can comprehensively articulate the questions we all want answers for! Thank you Kitco
Straight up the best interviewee you've had on during this P M summit.
I’ve gotten to the point where I don’t have to watch these…”the fundamental case is good for gold/silver” …meanwhile we fall 10% in a week
Innit
just pay attention to the sentiment, people are in doubt/despair, we are near bottom. Yes the fundamentals are good and the videos are repetitive, but it's the truth. eventually the market will reach fair, then over value.
Just look around you and see the amount of debt everyone has and the amount of inflation. Be patient and you will be rewarded many times over. Staxkers account for maybe 1% of real money holders
Initially, as the market collapses so does the paper dirivative price of PM's as investors sell off their positions to cover margin calls. Look back at other years.
Be patient the end of the manipulation is near gold silver to the moon
Unlike most interviews, this was done with someone that has their feet firmly planted on the ground.
Indeed!
Ya not a CEO. Great answers.
Literally
I'm surprised this kinda talk isn't illegal by now!
Because he confirms your beliefs ?
This guy should be the fed reserve chief or president of USA. He has. Common economic sense and outlook on life unlike the government finance people who never ran a hotdog stand.
I doesn't happen that way- you should know that. The FED was set up with one intention: take from the poor - transfer to the rich.
He doesn't wear a tiny hat , so he isn't qualified.
No, the corrupt Fed should be abolished and a fair and honest monetary system should be set up, backed with silver and gold and full reserves.
Why would you want a central bank or government?
Dan Oliver is more knowledgeable and articulate than most on the financial podcasts.
Dude is crazy smart
This was really interesting. You’ve got a great job David. Andrew
This is one of the best interviews that summarizes the complete current financial issues North America is trapped in
There is an elephant in the room. It’s called the price of gold. The price of gold is not an opinion.
To back every dollar with gold, the gold price would need to be 40k as of right now. To think it can’t get to 10,000$ is naive.
40k and growing every month
40k and growing every month! Oppps… it’s Bitcoin!😂😂😂
@@bahmak2003 Shouldn't be bitcoin, it should be gold that's $40k.
You are right according to the 30 trilion dollars government debt and 156 trilion dollars unfunded Liabilities there is a lot more printing to come Gold on the way up 25. or 35.000 for 1 troy ounce
No kidding..10k is really low. I don't have any gold ..I have the working mans metal silver.
Great program, thanks!
Dan is one of the few outstanding folks in the Gold industry. Great work David !
By far the best interview this month! This guy is on top of it! Thanks Kitco and Dan
Really? I don't think he made a case for 10k gold. I didn't hear anything convincing or anything new from this interviewee.
@@gener8423 Interesting, I have listened to many, not just Kitco and thought that Dan gripped it up very well. But it's always good to have a differing opinions, to get ones balance. We are in uncharted financial waters and anything could happen?!?! Time will tell, the market needs a re-set, and when it does Gold and Silver will be the only safe havens, hence a hugh rise. IMO of course, but appreciate differing views. cheers
This guy is one of my favorites. You should have him on more.
Why? Is it because he gave you the morphine shot that you like? the $10K gold jab?
Dude, the guy owns a gold fund. He's a stakeholder. I wouldn't buy his words with a penny, particularly when he's talking about gold.
@Erushbass whether from the mouth of a bus driver or a plumber, the truth is always the truth. Gold to $1,400 within the next two months. Mark this comment.
@@modo203 that means the stocks will also go down
Rawandi- Gold going to $1,400 within two months? The day after you're kidnapped by aliens?
@@darioebhard1477 It's anybody's guess at this stage. The markets reaction to cerveza virus in the last two years is enough proof that if you use logic and fundamentals you're gonna end up losing a shitload of money I'm afraid.
Thank you Dan for having David Lin on your show he learned a lot today!!!
Excellent interview
Very smart & knowledgeable guest
Thanks David and KITCO this is Good Gest Good information. Thumb UP
I agree with Dan Oliver's opinion... Great interview! 👍🏼
Best interview so far guys!! Wow, this guy knows his stuff, so much excellent information! Mind blowing!! Thanks again for all your help, it's really appreciated
Great contextual insight Dan. thanks to both.
Great interview 👏🏼👏🏼
Great interview, thanks!
In the top three best interviews on RUclips of 2021!
A fresh, cogent and insightful speaker. Very good.
Well I guess they haven’t run a 10k gold video in a little while! 😑
Lmao so true! It was due
Yup never going to happen, but plebs here love being pumped
Same thought
Let's worry about getting back to 2k first. All this talk of 10k gold is just plain silly at this point.
thanks Kitco really enjoyed this, one of your better guests
This guy is incredibly intelligent
I'd say he's pretty smart
Tic tac toe - this paper system is about to blow
They can do this for a good long while.
Please !
Knowledgeable + interesting guest. 👏
$10k gold at the very least. Hell, Bitcoin is at $45k, I don't get it. That's way too much for digital digits.
Bitcoin is worthless. Just digits on a computer.
Why do you refuse education?
@@michaellanglois5320 Oh, please, educate us.
Thanks for the video
Another educational video from you David! Dan did an outstanding job explaining the market and his' thesis for the rise in gold.
Sorry but in the interview I didn't hear any convincing thesis for 10k gold.
THE LAST 2 SPEAKERS-- 1 ON SILVER & 1 ON GOLD WERE BOTH VERY KNOWEDGABLE AND INSIGHTFUL ---EXCELLENT COMMENTARIES
always informative, good interview,
Great interview!
Great and useful interview.
David is so amazing!!
Dan The Man----This Guy Gets It!!
Dan Oliver said in the video that Bitcoin or cryptocurrencies are too volatile and he's correct. But I don't think he understands the solution to that problem. The problem is that the market for Bitcoin and other crypto currencies isn't large enough. If Bitcoin had a 10 trillion dollar market cap if someone sold 50 million dollars worth of Bitcoin into another currency it wouldn't have much of an impact because 50 million compared to 10 trillion is comparatively small. But if someone were to sell 50 million dollars worth of Bitcoin while the market cap is only 900 billion (like it is today) it moves the market much more in terms of volatility. The larger a cryptocurrency's market cap gets, the more stable it becomes.
Yes, it's strange how otherwise intelligent people sometimes just don't see this. I think it must be because the idea of bitcoin having a $300+ Trillion market cap is just to far out them to consider? Who knows, but I completely agree with you.
12 minutes in... great interview
Besides interest rates, the FED has the authority to set margin requirements. Less leverage is less risk and more stability.
Margin requirements could increased and decreased, not by much, without killing the little guy.
He talks alot of sense. More Dan Oliver please
David, you da man. Great question, great guest and great interview.
Sorry,10k gold is not attractive. 60k maybe would drive people to gold and away from crypto. Crypto has hurt gold big time. No lame premiums to dealers on BOTH sides of deal. No unknown supply, minimal games played to crush the individual.
Kitco and Lin do a service with these interviews, thank u. Lots of education for those with ears to hear. Not everyone will agree and that's fine, but these kitco interviews are a wonderful way to listen to intelligent people. that's never a bad thing, even if you don't agree. i do agree, i'm a bug and questioning it daily now but the finance system is scary these days. GLTA
If gold hits $10,000/oz wouldn’t everything else go up in price as well?
Potentially but the dollar would tank in value
Brilliant!
I was absolutely mind blown by the comparison of how copper to fiber is relative to the relationship of Bitcoin to gold lf. This guy just rolled of his tongue a thought experiment that demonstrated very clearly a very compelling explanation for how price could easily be explained the relative values of these items in relationship to each other. I am actually going to download that and watch it periodically. Simply stunning and a story that should get out to a much broader audience. Make sure you listen to the last ten minutes !
Dan Oliver FTW!!! Makes convincing argument using FACTS!!!
There's just one problem. We've had asset inflation (real estate, stocks, bonds, commodities) since 2009 and gold has gone down. But I guess guys like you never learn. Gold and silver are no longer relevant.
Chock full of on point info right here!
There is a big difference in the devaluation of the German mark(Weimar Republic)Germany's government from 1919 to 1933. The big difference in the U.S. dollar's devaluation and the Weimar is the dollar also happens to be the world reserved currency and so that get's a little complicated.
Great interview. Great point about Crypto currency, besides sovereigns are not going to give up their power to toys, good speculative toy...but not a currency.
This is one smart knowledgeable dude.
Sounds interesting; but I've been hearing this since the 1980's. The waiting and anticipation are the most difficult task in this scenario.
It's already happening and has happened. Real wages have been left in the dust by prices. Our GDP growth has slowed down a lot since then. The cost of rent has skyrocketed. The cost of college is thru the roof. Medical costs are insane. A family with 2 working parents is now necessary. Back then it was a lot more common for 1 parent to support the family.
Things are not going good right now.
The CPI has reached 5%! Labor force participation rates are at historical lows.
Yes and 20 years from now we’ll still see the clowns calling for 10k gold.
never heard of this guy but he seems to talk a lot of sense
Great interview with someone who uses sound knowledge to understand his business and its environment without the need to spruik it.
this dude is such a good interviewer
I see Dan Oliver. I click 👌
Literally, this needs to be taught in high school.
VER CREDIBLE GUEST THANKS.
The real question is why is silver and gold falling right now? IMO it's about to run up but precious metals could fall for at least another month or two.
Consolidation?
@@cryptocentral5162banks manipulating it so they can buy it cheap while the regular peasants don't bother because the news haven't told them to buy the dips
Expect to see Gold fall to 1630 USD and Silver to 16 USD!
@@williamboyle1906 and then the collapse
Gold price can't go up since the Russian Central Bank is not buying it anymore for more than one year. It's very simple to check this information. So bulshitting here is just manipulation. Ask yourself why Warren Buffet doesn't own gold or gold mines???
Great guest Kitco 👍
I feel like just about every country is in some type of credit crisis. So this might be a world wide depression.
It will be inflationary depression
@@KOL630 I recall recently the uk paid off that debt, there are likely others.
Dollars dead and everything is backed by it
I may have just learned more about everything than everything I've ever learned combined up to this day.
Also the jobs available don't pay enough to pay the rent in the area those jobs are available at
were screwed.
And now they want to be able to see how much is in our bank accounts to see how much longer they can keep screwing us into the dirt.
@@JosephWetten this is the reason why Jefferson killed the banks in his time. said if we left the banks control money we wake up for and homeless on the land are for Father's conquered
@@jd2931 Where did you read Jefferson and banks ?
@@lvpatfleming7465 That is a very well known quote, if you have not heard it, it can be seen in his own hand in letters and used in a speech. Suggest you read more. This is a brain numbingly complex subject.
@@timan206 its a misquote , if u think it’s accurate please reference it , it is often used by the far right , at that time banks were state chartered and printed there own currency , one of his quotes refers to a return of “ to the people” so state banking would be prohibited . if you are referring to Jefferson’s letter to Eppes , that is also a misquote , making reference to the state banks ability to create paper . I love Jefferson and my favorite phrases are his wishing the Constitution be rewritten for each generation. Jefferson is not very well liked at my gun club !
They gonna print money till the printers going to broke
Bring on the collapse and be quick about it. May the Comatose citizens finally awaken.
I really think that is all that will straighten people out.
Great interview. The U.S. dollar is supported by more than the Fed's balance sheet. There is the productive capital of the country too.
Lets talk about 2k gold first
Is gonna shoot up over night. God's money cannot and will not be manipulated for long, JUDGEMENT IS COMING and the prices will explode but many will get the judgement and won't be able to survive or resort to lawlessness just as prophecied in Matthew 24... JUDGEMENT IS COMING
@@audemars_piguet13 Gods money your ass!😂😂😂
Money in itself is a human construct!
@@bahmak2003 He was referring to Gold , that was not a construct of man.
Watch the destruction of stars in the Universe , different channel, then come back to us
@@billyhurst4319 is gold gods money?😂😂😂
Gold price can't go up since the Russian Central Bank is not buying it anymore for more than one year. It's very simple to check this information. So bulshitting here is just manipulation. Why Warren Buffet doesn't own gold or gold mines???
He gets to the point around 27:15. The primary case for owning gold imo has always been the amount of currency creation vs the amount of official gold held by the US government as well as gold overall. They’ve been printing it much faster than it’s been dug out of the ground for decades. Gold could go to 10,000 next year and still be cheap relative to the money supply.
Silver is so weak, it's unreal....
Buy buy buy
It is and it's extremely laughable
@R.K. RocketKnight raised their entry points on comex and stock exchanges trading silver ETFs and major silver stocks mostly more stringents conditions to take position in those markets subsequently to the squeeze however slv etf fund prospectus was rewritten on the 4th of Feb 2021 in a way that limits physical silver amounts being sold and liquidated in case silver delivery is initiated on a large scale.
Ridiculously weak. They won’t let it be strong. Look at the patterns of its fall over the past month…none of it is natural. It’s not a real “market”...
@@327MONEY20 It’s not laughable if you own it schmuck
This guy is smart as hell
He thinks so fast, his mouth can't keep up!
I’m definitely buying more Gold at these prices!
yes. just watch out. the short run may fall a bit more yet. it all depends on where exactly the retracement craps out. and yes... it is a retracement. this drop should establish a new higher low. should. however there is a case for a double bottom with another strong rejection of lower levels.....so think another drop to 1630 with another massive rejection on the same candle to close with a higher low. the double whammy of a double bottom plus a major rejection and put it on a higher time frame would signal a very long term and very strong UP trend.
Gosh you really praying for the downfall of your own country just because you own loads of gold. 🤣🤣
Everyone knows u can't lose with hard assets. Just buy, hold and ur grandkids will thank u
How about to put those grandkids to work to be productive?
Nobody's praying for anything, they're the ones doing it, we're just preparing for it
If the cabol doesn't go down our kids will never see the freedom the founders intended for them.
@Other Barry cabal ? What’s that ?
@@rudeawakening3833 Carlin’s “ Big Club”
So if you there is no one to lend to , why is inflation going up? Where is the money leaking out to? It sounds contradictory. Grateful for any thoughts on this.
I really like this guy you should have him back sometime.
Mic drops @ 16:45...and then my head started spinning...:Debt Triangle"
David es muy chingone!! The new Charlie Rose and Russert!!
If you intend to have a world government and start a new system do you think it's a good idea to have a currency you don't control ?
Gold keeps going down 🤬I cant wait till I'm dead for gold to go up
.people have been saying 10,000$ gold for the last 50 years and never happens
Havnt had a global pandemic in a long while... this is going to make a difference... when the markets crash things are going to change
I was not even born 50 years ago.
@puppet joe biden : job well done Jerome Powell ,print yourself another couple billion on that good old money printer and dont forget to leave a little tip for hunter biden 😉
Unfortunately that’s how long it takes . 1930 to 1980 was 50 years and 1980 to 2020 is 40 so we might have to wait another 10 years yet . I totally agree waiting is frustrating and I wish I could make millions if I was to gamble in Bitcoin but I’ll never be a multi millionaire over night but the flip side is I’ll never be broke over night too. Comes down to that old saying “ good things come to those who wait. Don’t under estimate the waiting game . Just look at the taliban 20 year waiting game
if the Covid-19 pandemic and lockdown cannot even push gold to 2k, all this talk of 10k gold is nothing but hopium at this point.
I agree with you, Dan. I also think it is by design.
Why don’t you ask them why have all of them been wrong? They are all in the precious metal selling business.
All those people you interview, pretty much daily, said that by March 2021, silver would be $100+ and gold $5,000+….
We are all still waiting….it’s time you interview other people.
For Prof. Henke, I double the playback speed. For this guy, I halve it.
Before you can even have a conversation about precious metals, you have to talk about market manipulation. If you say there's no market manipulation, conversation over.
When will you morons realize that gold and silver are simply irrelevant? No one cares and they haven't for a long time now.
@@morganvon5664 you're pretty funny
@@morganvon5664 I guess that's why central banks are buying gold at a massive rate. Got to be the reason.
@@caseyrindal1815 BINGO !!!!!
@TheStefaner If I thought gold was truly insurance against a falling dollar, I'd be there with you.
We shall see $1600 gold we’ll before $10,000. The paper market won’t allow for $2000 gold never mind 10,000
Collapse will happen when they say "peace and safety now"...
So let's get rid of the paper market.
@@lamarravery4094 EXACTLY !!!!!
Nobody can pass a drug test...lol. Build the wall
Sharp guest, unique take on a trite subject. Good on David and Kitco.
But the real question was missed- can BTC become a stroe of value (not money or medium of exchange)? Money evolution goes from nothing to store of value to medium of exchange then to unit of account and takes decades to unfold. So, yes BTC is volitile for now but this decreases over time when liquidity/market cap increase. Its barely 10% the mkt cap of gold and is doing remarkably well given that statistic.
Macro people are always right, but have notoriously bad timing. Sometimes they can't even get the decade correct.
I think they get the timing wrong because they overestimate the ability of an average joe to figure out this madness
we need Patrick Karim update his view again at Kitco ;)
So with $10k gold I get rich but everything else is falling apart. Not sure I want that to happen.
rather than $10k gold we should say 1/10,000 oz dollar. you won't be rich
3 yrs, same story, never happens, when?
10 yrs, same story, never happens, when?
The Fed always uses forward guidance to jawbone an action it can't possibly follow thru on?
Superb stuff. Let's hope something like a natural disaster does not soon.
Fires, droughts, floods, hurricanes you name it, it’s coming to a town near you
I would like to know the timescale of @10K Gold or even for 3K Gold
You will need the lifespan of Methuselah to see it.
@@morganvon5664 well maybe it will be sooner than we think …
Jan 2022 basel gets implemented. Until then the price will go down so the banks can accumulate it
@@lexiemaep7930
It is my understanding through these
“ experts “ that this Basil is VOLUNTARY .
If so - isn’t that like having the rat guard the cheese ?
Or even just 2k gold !
Money is gold, everything else is credit.
In written Chinese the word "gold" and "money" are the same.
And price in fiat currency is not the gold going up it's the currency going down.
You are insightful …
JP Morgan.
The problem is that the currency has been going down (inflation), but gold HASN'T been going up!
This Guy is a spit of Peter Fleming. The former tennis player.