{"id":43897,"date":"2019-02-19T17:36:05","date_gmt":"2019-02-19T22:36:05","guid":{"rendered":"https:\/\/olduvai.ca\/?p=43897"},"modified":"2019-02-19T17:36:05","modified_gmt":"2019-02-19T22:36:05","slug":"gold-will-become-the-next-global-currency-of-choice","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=43897","title":{"rendered":"Gold Will Become the Next Global Currency of Choice"},"content":{"rendered":"\n

Gold Will Become the Next Global Currency of Choice<\/a><\/h3>\n\n\n\n

With a wobbly stock market, falling Treasury yields and rampant geopolitical strife, the focus on gold as an asset has been intense as of late. The metal\u2019s price gains reflect this, as gold recently proved able to hold above a key resistance level, which holds bullish implications.<\/p>\n\n\n\n

But according to Kitco, Sprott CEO Peter Grosskopf sees gold moving past its role as a mere asset and eventually returning to its status as a true global currency<\/a>. In an interview, Grosskopf explained that this will be fueled by ballooning global debt, which will ultimately debase all fiat currencies.<\/p>\n\n\n\n

As Grosskopf pointed out, recent data shows that the global debt rests above $244 trillion<\/a> and, as such, is more than three times larger than the global economy itself. Whether governments decide to deal with this through quantitative easing or financial repression, he says gold prices will invariably spike.<\/p>\n\n\n\n

The recognition of gold\u2019s role in wealth preservation is on the rise, said Grosskopf, with investors increasingly shying away from fiat currencies and moving into gold. The widespread loss of faith in not just assets, but currencies as well, is already in effect, with Grosskopf\u2019s firm noticing more interest from all corners of the investment spectrum.<\/p>\n\n\n\n

\u201cWe think the overall trend for gold is positive because it is being accumulated,\u201d said the CEO. \u201cIt\u2019s being accumulated by central banks; it\u2019s being accumulated by billionaires, it\u2019s been accumulated by endowments and it\u2019s more accepted as a class of currencies in portfolios.\u201d<\/p>\n\n\n\n

This New Catalyst Will Drive Silver Prices Higher in 2019<\/strong><\/p>\n\n\n\n

Money Morning\u2019s Peter Krauth writes silver\u2019s recent pullback below the $16 level was not only expected, but also irrelevant for its long-term picture. Even after the pullback, the metal remains up 12% since November, and Krauth sees more gains coming in the near future<\/a>.<\/p>\n\n\n\n

 \u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold Will Become the Next Global Currency of Choice With a wobbly stock market, falling Treasury yields and rampant geopolitical strife, the focus on gold as an asset has been intense as of late. The metal\u2019s price gains reflect this, as gold recently proved able to hold above a key resistance level, which holds bullish […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[18769,951,24441,661,24442],"class_list":["post-43897","post","type-post","status-publish","format-standard","hentry","category-economics","tag-birch-gold-group","tag-currency","tag-peter-grosskopf","tag-qe","tag-sprott"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43897"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43897\/revisions"}],"predecessor-version":[{"id":43898,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43897\/revisions\/43898"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}