Unprecedented And Global: Printing Until The Economy Collapses

Will this be the last gold rush?

Charles Goyette on Palisades Gold Radio

Charles Goyette: The End Of The Federal Reserve

Tom welcomes a new guest Charles Goyette to the show. Charles is an author and well known radio personality.

Charles outlines what may make this the last gold rush. There is something different about this bull market, and that is what he has written about in his latest book. Bull markets are generally driven by money printing, but today this is unprecedented and global.

He discusses much of the history of gold ownership in the United States and why today’s dollar is fragile. The U.S. Government has massively overspent that much of the world is pushing back. The U.S. grows weaker because the might of the U.S. comes from it’s economic strength, which is in decline.

He explains the Federal Reserve System’s beginnings and why it’s name was an ingenious marketing ploy. They didn’t dare call it a central bank, but it instead encouraged the notion of central reserves to provide stability and liquidity. Last March, the Fed announced that the reserve requirements of banks were being abolished.

The rapid move toward a global digital currency standard is being driven by the need to eliminate cash. Since governments and central banks know they are moving into a period of negative interest rates, they want to charge the consumer while also monitoring and controlling their spending habits.

Charles discusses some of the more crazy aspects of Modern Monetary Theory and their belief they can print money without consequence. Before Covid, introducing MMT would have been very difficult, but now, this is no longer an issue with massive fiscal spending.

The government is always trying to inflate, and their motivations are many. The market senses these bubbles and tries to deflate them to some norm. Thus the popping of the bubbles is deflation, and the pumping up is inflation. The impact of all the business closings this year and job losses have yet to be fully felt as they rebound throughout the economy.

He says, “They will print money until the economy collapses… We’re in an end-game event for the dollar.”

Time Stamp References:
0:00 – Introduction
0:49 – The Last Gold Rush
4:18 – Accelerant Factors
8:30 – Gold and Central Banks
9:53 – Reserves and Fed’s Purpose
13:57 – Moving to a Digital Dollar
18:56 – Modern Monetary Theory
24:34 – Flationary Forces
28:50 – Profiting From Collapse
34:34 – Book Overview
39:25 – Politics & Monetary Policy

Talking Points From This Episode

  • The Last Gold Rush
  • Accelerating Gold Bull Trends
  • Central Bank Operations
  • Digital currencies and eliminating cash.
  • How encumbered is America’s gold?