In this discussion between Egon von Greyerz and Alasdair Macleod, on the state of the current banking system and the importance of gold, the speakers express concerns about the system’s eventual collapse due to the excessive creation of “funny money.”
They suggest that gold is the only currency to have survived throughout history and is thus essential for long-term wealth preservation.
Egon and Alasdair also discuss the role of gold in the currency crisis and predict an eventual panic into gold.
Moreover, they stress that the value of gold should not be measured in worthless, fiat money and that higher gold prices are necessary to meet future demand.
Finally, they caution against wishing for the gold price to go up, as it would decrease the quality of life.
Watch the full interview below:
0:42 This weeks news – Banking collapse
3:07 What’s keeping the gold price high?
12:10 Property rights
13:30 What role does gold play
19:57 Gold price
22:44 Influx of wealth preservation