Nick Barisheff – $10,000 Gold within 5 Years
Greg Hunter’s USAWatchdog.com
Nick Barisheff is an investment pro with a 30 year track record. He manages more than $500 million in physical gold, silver and platinum. He has a new book coming out titled “$10,000 Gold: Why Gold’s Inevitable Rise is the Investor’s Safe Haven.” You think that is an overly bullish prediction? Not if there is hyperinflation. Barisheff says, “If we get into hyperinflation, $10,000 will be a conservative estimate.” How likely is hyperinflation? According to Mr. Barisheff, “There’s never been a fiat currency that didn’t end in hyperinflation and then complete collapse, not one in all of history.” He expects gold to hit “$1,900 an ounce by the year end.”
Gold prices will rise with U.S. debt levels, and they are skyrocketing. Barisheff says, “If you plot a chart, the price of gold compared to the U.S. debt is almost a perfect correlation.” Join Greg Hunter as he goes One-on-One with the CEO of Bullion Management Group, Nick Barisheff.
The current mode of living marked by overconsumption, deliberate, planned obsolescence, unsustainability as measured by debt levels is no picnic either…in fact it will produce the inevitable currency collapse.. maybe we can return to a cash and carry society devoid of meaningless electronic toys, self promotion and environmental degradation. Perhaps acting ethically will replace the mantra “self interest over public interest”.
And it is complete BS that all fiat currencies ended in hyperinflation – no all debt-free interest-free issued currencies ended by the money powers ending them sooner or later and thus ending the prosperity. And those currencies even had reserve banking weaking them. But hey – return to the 19th-century gold-standard will surely be the money power’s wet dream.
Greg Great interview.Sound and all.
Silver will be more widely used. Therefore will be of the greater value for our paper dollar today. thanks agian.
Even better the second time i watched it. Very well explained. Iv send this to several contacts,and plan to buy more silver. That was more about common sense then a perdiction.
Great interview Greg. … Mr. Barisheff does a super job of explaining concept/trends etc in a way that is easy to grasp. Love his clarity.
Gold has been proven to be the safest haven, not only in inflationary times but also in delationary periods. While I don’t doubt that gold may be 10K or more in the coming years, Any reasonably intelligent person would deny hyperinflation, a la Weimar or Zimbabwe happening here in the US except in the most gradual and incremental terms. The “true” annual inflation of 10+% that we have now is bad enough, if it becomes 10% a month, then all hell will break loose. But maybe, just maybe, TPTB have this as a plan? The terrifying NDAA, the recent plans to purchase, for domestic and not military use, millions of rounds of hollow point ammunition, and the recent warrantless detention of an ex marine because of Facebook posts calling attention to government tyranny, all point to a coming massive constraint of freedom for the American population, with absolutely no Constitutional redress. Looks like the “preppers” aren’t so crazy after all.
Great reporting Greg
The only thing I think gets missed in these kinds of interviews is that I fear most people who are not really into this do not understand that when gold sells for $10,000 it still only has the buying power of $1,600 at today’s rate. The purchasing power of the dollar is the focus here. If it goes to $1,000,000,000 per ounce, it still only has the buying power of whatever the buying power it had at the time it was purchased so if you buy a product today for $1600 and a gold piece at the same time, in ten years what ever that $1,600 product cost is probably what an ounce of gold will purchase. In 1900 a $20 gold piece would get you three suits and a nights stay at a great hotel. Today that same 20 gold piece would buy you the same thing because of the value of the gold, not the currency value of the piece. So you see gold is not an investment, it is a store of wealth. When the bottom falls out of the dollar the value goes away. Gold and silver will continue to be recognized as money and that is what we are trying to insure here. You don’t make money investing in gold and silver, you retain it and that is the goal.
All of my debt is denominated in dollars, not purchasing power. Bring on the inflation. It would be cool to pay off my mortgage with a few gold coins.
The only exception to that rule is when the mania sets in and the rush to get out of fiat and into hard assets becomes the norm. Then you will see prices that set your hair on fire while outpacing the purchasing power of said ounce of gold allowing for “gains”.
No one wins in a collapse, it’s all about he who loses least.
You are exactly right. This point seems to be always missed by the gurus.
Back in 1970, a gallon of gas was around 25c or a dollar would buy 4 gallons. Today you need $16 to buy the same quantity and the situation is more or less the same with all other necessities of life. In other words, a man making making $16,000/month today has the same purchasing power of a man earning the typical white-collar salary of $1,000/month four decades ago, not counting taxes, and it is the saver who has been the loser.
The purpose of gold is to protect the purchasing power of one’s savings, which it does very well. The same can not be said of the fiat currency which is worth exactly the same as the stock certificate of a defunct company.
Thank you for Nicks presentation.
The concept of micro currency development as an answer to fiat currency seems attractive. Decentralization from economic power that has accumulated to a few hands seems like a good idea. Also at a local level the proximity of control and real democratic control over the local economy would have a chance. Backed by precious metals.
According to the federal constitution the currency was supposed to be backed by gold and silver as a protection against the circumstances we are now facing. Unfortunately from the overview, the dollar will eventually be valueless. Doing transactions only with precious metals will be impractical. Maybe micro currencies could be the answer.
The historical record of all fiat currencies failing is compelling. The http://en.wikipedia.org/wiki/W%C3%B6rgl
Has a story about the Worgle experiment which demonstrated prior to the destruction of WWII the attempt to regain a healthy local economy. It worked and was summarily crushed by the central banks.
Here is the summary.
In spite of the tangible benefits of the program, it met with stiff opposition from the regional socialist party and from the Austrian central bank, which opposed the local currency as an infringement on its powers over the currency. As a result, the program was suspended, unemployment rose, and the local economy soon degenerated to the level of other communities in the country.
Soon World War II began. Imagine if World War II could have been prevented.
What was surprising was how easy the micro currency was established and how fast the situation improved.
Could we expect state governments to take the lead? Would the Federal government and bank cartel relinquish their control voluntarily?
I told a friend when asked to buy gold and silver…they said it was too expensive and they would wait til it gets cheap again. I asked what they planned to do the price didn’t go down. The only way to lose is to do nothing and not buy any!
peak oil??? we have found more reserves than we knew existed. Not saying we wont run out at some point but Knutsler’s peak oil is a bust. He didn’t take into account tec advances
Tech advances do not create energy. All of the easy oil is gone. Why do you think they drill so much in the ocean these days, so many miles deep? The technology only allows you to get the “hard to get” oil that older technology could not acquire. Oil is the most dense energy form known to man and mother earth is not creating it fast enough for us to ever have enough supply. Peak Oil 2006. Look it up.
“THE LOW-HUNG FRUIT HAVE BEEN PICKED”
Remember picking apples as a kid? Did you climb to the top of the tree to START picking?
Of course not.
And that’s what the oil industry has done to get the cheaper, easier to harvest oil to market to make the QUICK BIGGEST BUCK FIRST.
Now they have to “EXPLORE” (not simply: drill, set-up, pump, sell) in the ocean 3-miles underwater and “HOPE” they “MIGHT” make a buck.
The oil being developed this way is not nearly enough to offset the current wells that are running dry AND the newer AGGREGATE world oil demand (China, India, etc).
Peak Oil denial is fostered by oil interests to keep “alternative” energy investment in the closet. Jimmy Carter, 32-years ago, was ostracized for simply SUGGESTING that “energy conservation” should be activated.
Remember when Reagan trashed the solar panels Jimmy had installed on the White House roof?
Here is the deal especially for bourcheroun (first poster), invest in gold or silver NOW and wait for hyperinflation. Then pay off your debt pennies on the dollar. My 2000 ounces of silver purchased at $14 an ounce will eventually pay off my 150K mortgage and I will exit the money reset free and clear.
That is true. What will you pay your property taxes with?
The thing with gold is your not really gaining money your just saving purchasing power. I think many people fail to realize this.
You have one more year before everyone should consider you a false profit. Tick-Tock tick-tock Mr. Hunter.
The way gold will hit $10,000 is when the governments will have to revert to a gold standard and set a fixed price for gold. Depending on the money in circulation and the they will have to pick a price that will keep the fiat supply in balance. The price they set will very well be 10k+.
Ah wonderful – another Austrian economic austerity loving gold-bug. Ah the lovely solution will be to peg currencies to the Gold standard and pay the upper 0,1% a rental fee for all the gold THEY own. Of course no mention of the Colonial Scrip – interest free, Canadian System before 1965 (debt free country, interest free “fiat” currency and no 1930s to speak of), Woergl 1932 and many other examples. Sure – Gold may go up to 10.000 $, since they indeed might want to implement a worlwide new currency based on the gold they own. But this will be no utopia whatsoever.