(Natural News)—The rising prices of gold mean that the dollar and other fiat currencies are going down, according to financial commentator Mario Innecco.
“Yes, it’s a good thing for stackers when the prices of gold and silver go up in dollars,” he told “Liberty and Finance” host Elijah K. Johnson on Dec. 5. “But the other way we need to look at it … is that the dollar is going down versus gold and silver in the long term.”
Inneco cited Venezuela as an example of this. The South American country’s fiat currency, the bolivar, became worthless when the gold trading faltered. “I think the same thing is [going to] happen to the dollar and all the other fiat currencies vis-a-vis gold and silver,” he added.
Meanwhile, Johnson remarked that people were seeing a new intra-day high for gold prices, surging above the $2,150 mark. Innecco said some friends told him about this development, but he advised them not to get too excited and to just stay level headed.
Innecco, a financial markets and macroeconomic analyst, said he had seen gold rise to $2,130 before going down to around $2,070 – its all-time high from 2020. Days before, it closed at $2,072, just above the 2020 spot price.
Johnson’s guest commented that while the price of gold fluctuates, its value hasn’t changed. In contrast, fiat currency changes because the central bank issues too much of it.
Greenback lost 98% of its value versus gold in 1971
Innecco also recounted how the dollar lost 98 percent of its value versus gold back in 1971, when former U.S. President Richard Nixon closed the gold window that year. He added that some people will trade gold for fiat money, something he called a completely different game.
Johnson meanwhile remarked that the volatility in the gold market has caused worry among people. In response, Innecco said key technical levels being breached in the last few years is the reason.
He also shared that based on a report about the Sharpe ratio of certain investments, gold was third on the list. In contrast, cryptocurrency was way low on the ranking. According to Investopedia, the Sharpe ratio “compares the return of an investment with the risk.”
“It’s actually a very, very stable if you want to call it investment. I think the top two were like long and short hedge fund portfolios or stuff that was really hedged,” said Inneco.
The analyst also warned that putting gold with the banks in exchange for fiat currency is a bad idea since it won’t be even legally owned by someone, essentially making it an unsecured loan. He also advised against having a lot of money in the bank, given the multiple bank failures that happened in March. According to Innecco, the latest Federal Deposit Insurance Corporation (FDIC) numbers weren’t very good when it came to the unrealized losses on securities.
He ultimately asked viewers whether they want to finance the current administration in the U.S. or the U.K., which has allowed migrants in. Keeping fiat currency in the bank means people are indirectly financing their own collapse.
Head over to GoldReport.news for more stories about gold and its link to fiat currency. Watch Mario Innecco discuss why the dollar is in trouble with the rising gold prices below.
This video is from the Liberty and Finance channel on Brighteon.com.
More related stories:
- Gold Newsletter: 2023 will be a bearish year for stocks and bonds, but a bullish one for precious metals.
- Gold price jumps to 8-month high, eventually settles above $1,900 level.
- Israel-Palestine war causes GOLD PRICES to RALLY as demand for safe haven investment increases amid chaos.
- The Health Ranger denounces DISHONEST and UNRELIABLE fiat currency banking system.
- Federal Reserve to print another $2 trillion in fake fiat funny money to bail out financial terrorists, further devaluing dollar.
Sources include:
Why One Survival Food Company Shines Above the Rest
Let’s be real. “Prepper Food” or “Survival Food” is generally awful. The vast majority of companies that push their cans, bags, or buckets desperately hope that their customers never try them and stick them in the closet or pantry instead. Why? Because if the first time they try them is after the crap hits the fan, they’ll be too shaken to call and complain about the quality.
It’s true. Most long-term storage food is made with the cheapest possible ingredients with limited taste and even less nutritional value. This is why they tout calories so much. Sure, they provide calories but does anyone really want to go into the apocalypse with food their family can’t stand?
This is what prompted the Llewellyns to launch Heaven’s Harvest. They bought survival food from multiple companies and determined they couldn’t imagine being stuck in an extended emergency with such low-quality food. They quickly discovered that freeze drying food for long-term storage doesn’t have to mean sacrificing flavor, consistency, or nutrition.
Their ingredients are all-American. In fact, they’re locally sourced and all-natural! This allows their products to be the highest quality on the market, so good that their customers often break open a bag in a pinch to eat because they want to, not just because they have to due to an emergency.
At Heaven’s Harvest, their only focus is amazing food. They don’t sell bugout bags, solar chargers, or multitools. They have one mission – feeding Americans in times of crisis.
What they DO offer is the ability for people to thrive in times of greatest need. On top of long-term storage food, they offer seeds to help Americans for the truly long-term. They want them to grow their own food if possible which is why they offer only Heirloom, Non-GMO, Non-Hybrid, Open-Pollinated seeds so their customers can build permanent food security on their own property.
