Iran, Venezuela & Turkey reveal gold’s true value when paper money becomes worthless – analyst to RT

Saturday, August 18, 2018
By Paul Martin

RT.com
18 Aug, 2018

The world will inevitably dip into crisis, with gold and silver again emerging as real money, Claudio Grass, an independent precious metals adviser and Mises ambassador told RT.

“People today, especially in the West, have forgotten that paper money used to be a mere property title for a certain amount of gold or silver. Today, paper money is nothing more than a debt security. It is nothing more but collateral: the promise of the former generation that the future generation will pay off the debt via taxes and inflation,” said Grass.

The analyst gives examples of Iran, Venezuela and Turkey, whose currencies crashed against the US dollar, and people rushed to buy gold and other precious metals instead.

“A rising gold price is the barometer that shows that there is something wrong with the system. When the price of gold is rising, the last person on the street understands that there is something wrong with the economy,” he said.

“And I also have no doubt that the next crisis will be not regional, but global. All markets are manipulated, from the bond, to the stock and real estate market, into bubble territory. What can be said with certainty of gold and silver, is that even if the price might come down in the short term with a strengthening USD, this will only lay the ground for the next great bull market,” Grass added.

Grass notes that as paper money loses its purchasing power when governments print more, this creates a few winners, but many more losers. It will only create a larger discontent among people, adding more pressure on fiat money.

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