Palisades Gold Radio
Apr 27, 2023
Tom welcomes back Keith Weiner, the President & Founder of Gold Standard Institute USA and CEO of Monetary Metals, to the show. Keith discusses his Guide to the Gold Market and what investors really need to know. He explains that gold tracks the loss in value of the dollar, which is designed to lose purchasing power over time; and, how gold acts as a benchmark for the rest of the economic system. He also argues that desperate measures like tariffs end up creating more problems than they solve, and that the 2008 financial crisis was caused by a vicious spiral of markdowns on bonds.
Keith explains how the dollar is a relationship of being owed and how the incentives to continue this behavior remain compelling. He believes that the only thing that can replace the dollar is gold, but currently there is little interest. He argues that Comex inventory movements have little impact on the price and that historical analogies for gold can be useful because history does tend to rhyme. He also argues that the utility of gold at the margin does not diminish when supply increases; it acts as an objective measuring stick for economic value.
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