Asset manager Nick Barisheff says, “There’s never been a fiat currency in history that didn’t end in hyperinflation and complete collapse.” Barisheff thinks that Treasury Secretary Tim Geithner’s most recent call to have an “unlimited debt ceiling” for the U.S. was “just telling the truth.” That’s essentially what we have now with “open-ended” money printing by the Fed. Barisheff adds, “All it’s doing is postponing a problem . . . it makes it bigger and eventually it blows up.” Forget about remedies for the economy, it’s too late. Barisheff says, “We’ve passed the point of this getting fixed.” Barisheff thinks if the Fed’s gold holdings are ever audited, there will be a “gigantic short-covering rally . . . multiple bankruptcies . . . and a massive loss of confidence” in the dollar because much of the gold is gone or leased out. Barisheff thinks the gold price could be “easily double” right now. That’s because Barisheff believes, “What’s kept the price down is the artificial leased gold going onto the markets.” Join Greg Hunter as he goes One-on-One with Nick Barisheff, CEO of the $650 million Bullion Management Group.

  1. God! I hate to imagine what a loaf of bread will be at 10k banknotes per ounce!
     
    “Conditions were so bad in France that by 1780, 80 per cent of French families were forced to spend 90 per cent of their income on bread in order to stay alive. (Paul Johnson, Bank Credit Analyst, September 1978 Issue.)
     

    • Some of us won’t need to buy bread, or anything else for that matter. You need more than a stash of PM’s to survive what is coming. I have 400+ pounds of wheat berries stored along with a couple hundred pounds of corn. Add in the rest of my stash and I will be doing fine.

    • That’s why the French people revolted. They were taxes a lot, got attacked financially due to hyperinflation and their king didn’t listen to them. In fact, their king wanted to ran away but then, he got caught by the others and his head got chopped off.

  2. Another marketing piece –  Greg putting words into his mouth, the guy did not say gold will be 10K, he’s saying there are many measures, and one of them comes out 10K gold, bur Mr. Greg just want to make it stick that gold will be 10K, now we know who this Greg guy is. Oh wait, since when LBMA become a trusted entity?! lmao, go buy allocated silver with no tungsten in it from BMG through LBMA and stored for you by scotia and sleep like a baby. Yeah my a@@ Greg

    • @silvaSchmiegel
       
      I have to give you that. He did violate the cardinal rule of personal possession and control. When you realize that a hundred million is only 47 hundred troy pounds and a relatively small dimension, there really isn’t any genuine need to put it in someone else’s possession … LET ALONE one of the LBMA crooks. Hell, I could damned well secure it on a single ‘camping trip’ over a week-end.

  3. Very Good Interview
    I just can’t imagine visiting my gold or silver for that matter.  The only time that the gold will be audited is when the dollar collapses and the people finally awaken IMO.
    Is it to late in life for me to become an attorney? Their going to be filthy rich. Lol
     

    • @Marchas45

      Awww Charles, you don’t know what fascination Law is! The BEST first step is to read ‘The Law’, by Bastiat. You can probably download a copy for free and drop it into a ‘Kindle’ and hang out at the park a couple days. Then, download ‘Blackstone’s Commentaries’. The horizons that’ll spread before you will blow you way, I can assure you!

    • @PatFields Listening to The Law now. I’m not very good comprehending the written word, hence why I’m listening. Guess it has something to do with the lead water pipes or water and other issues in the Tenements where I grow up, in Glasgow, Scotland. Lol

    • I think this time, when the US dollar collapses, the whole system will go down also and a lot of Americans will go to Fort Knox, blow up the vaults and then take out all the golds they can. The military won’t do anything about it because it’ll be gone since it won’t get paid in dollars.

    • @Marchas45

      You’ll be surprised, Charles. A spiritual man is best equipped to appreciate Law because of its dealings with fictions and ephemeral matters like Person, Title and Jurisdiction. Non spiritual folks have more difficulty discerning the subtle nuances involved in getting a firm grasp of them. I really think you’re going to enjoy your sojourn!

  4. Greg Hunter has the same oral disease as have Neil Cavuto and Bill O’Reilly… he talks too much when he SHOULD be listening!  One can only wonder at what else Nick Barisheff might have been able to tell us without all those annoying interruptions.  Yes, Greg needs to ask questions but he also needs to wait for and listen to the answers.

    • @binahmax

      You’re perfectly correct. The way I like to illustrate that concept is zero times X quadrillion equals … zero!  Banknotes are impossible of true worth, because of the simple fact that they’re possible of infinite supply The genuine ‘value’ of gold, silver or copper is their relative market ratios pivoting around their natural ratios of abundance. How folks can’t get that through their heads is always amazing to me. They don’t get it … until government TELLS them that it’s so. THEN … they’re flat busted!

    • You are right! Silver is not worth about 33.70$ per ounce right now, it’s actually about 33.70$ that is worth an ounce of silver right now. When the US dollar will collapse, people will be measuring their wealth in the number of ounces of physical gold and silver they own.
       

  5. Put simply:  V = 1/A, where V = value and A = abundance.  The more you have of something useful, the less it tends to be worth and vice versa.  Trillions of pieces of paper with ink on them or… a few hundred ounces of gold and silver.  Anyone needing further proof can simply download one of those images of a $100T Zimbabwe bank note.  Slap down a few thousand of those and you *might* get a *slice* of bread.  Or, you can just buy a couple of loaves for a pre-1965 US dime. 

  6. Ed  Euqations, symbols, ooooh my head hurts.
    I liked the episode on South Park where the Underpants Gnomes stole tidy Whiteys.  Their business model consisted  of a 3 step plan.
      1.  Lots of used underpants   
       2.  something something something 
       3.    Profits 
    Step two was left undiscovered.

    Barisheff concludes that unlimited amounts of soiled currency leads to something something that leads to gold at $5,000 an ounce.  That ‘something’ was left out. 
    Ok, I’ll bite.  What is step two that leads to step 3.   I know the answer but since Barisheff only manages a $650,000,000 fund and I only listen to people who manage billion plus funds, I will discount his reasoning and answer as to gold’s $5,000  value when currency collapses.  It is just as reasonable to assume gold will hit $100,000 an ounce. The missing
    ‘ something’ is when people reject and repudiate their currency, thus rendering it valueless.  Gold and silver’s values will be incalculable when this happens.  Guessing is just fools gold.  But what do I know.  I’m just being a wisea** tonight.

    • Agreed, AG.  Just consider how many of those Zimbabwe $100T bank notes it will take to equal 1 oz. of .999 gold.  Answer:  more than all of them because there is no amount of them that can be multiplied times their value of zero that will result in any value other than zero.

  7. Once hyperinflation happens, it will be more difficult to purchase a product because the prices will go up way too quickly so you won’t be able to keep track of these changing prices and less sellers will be selling their products because at least they’ll think that they’ll make profits in terms of dollars by holding up their products.

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