Don’t Be Left Holding the Bag. (Uncut) 04-21-2025

Fiat Currency Wipeout Accelerates as Gold Approaches $3400. Don’t Be Left Holding the Bag.

You would be the person that would go to the first class section and go to the dance floor, party, and think, oh, it’s going to unsink. The ship is going to unsink. It’s not that bad.

I personally think that’s what the people who are waiting for correction, they’re playing with fire. And yeah, and it’s simple. You just have to jump off the Titanic, preferably in a lifeboat, if you can get one.

And pretty soon the lifeboats are going to be really hard to get. And that’s what a higher price of gold or a lower price of fiat currency is telling us. Monday, April 21st, 2025, Monaco 64, home of alternative economics and contrarian views.

Those of you who have been watching me for a long time know that I don’t like to go into dramatics, but I think it’s getting very serious. And in terms of what, you might ask. Well, in terms of the dollar and all other fiat currencies, because they’re all fiat currencies, the euro, the pound, the Swiss franc, they’re not going to save the purchasing power of your savings.

They’re going to go down with the dollar. Don’t be fooled by the moves in the dollar index. But as I was saying, yeah, I’m not one to be dramatic, but I think it’s getting very serious right now.

I think we’re in the beginning of the meltdown of the value of the dollar and all other fiat currencies. It’s the proverbial currency collapse that I’ve been warning, not just when I started this channel back in late 2015, but also back in the day when I worked in the city of London, when I started looking into gold, into the monetary system, back in 0203. I have a playlist called All Currencies Are Sinking.

Yeah, I’ve been predicting that ever since 2006. I even wrote a few posts about it online. I’ll provide a link to them below in the description if I can still find them.

All Currencies Are Sinking, not just the dollar. So that’s what we’re going to look at today. We’re going to look at some charts because I think charts help us see where we are.

We’re going to refer to a couple of books, one by Jim Sinclair, Pocketbook of Gold, and this one here, When Money Dies, Adam Ferguson, about the Weimar hyperinflation. Before I do, though, I just wanted to give a shout out to one of my affiliates, Dirty Man Safe. We’ve been working together for a couple of years and I get very good feedback from them.

If you want to keep some of your valuables safe, Dirty Man Safe, I think, could be the solution. Yes, they provide underground safe solutions, hidden protection, and instant access. If you want to find out more, go to the description of all my videos and there’s a link there.

If you use that link, you get 10% off if you decide to purchase a Dirty Man Safe and they’ll also send you a special gift. So back to gold and I expect silver as well to join the party. Yes, it’s been frustrating.

Yes, we are over 100 to 1 in the gold silver ratio. I see a lot of people on social media, especially on X, predicting that gold is going to crash, that it’s a bubble or whatever, and that when the stock market crashes, gold is going to crash. And I have to specify that I’m not talking about trading gold, of course.

I’m talking about holding physical gold, stacking physical gold as insurance versus currency debasement. You don’t trade physical gold. Can you imagine trading gold back in the day in Venezuela when their currency was starting to collapse, thinking, oh, I’m going to make a profit here and cashing into bolivars? You’d be ruined by now.

The people who did well in Venezuela about 10 years ago, maybe a little less, were those who had gold or even those who had dollars. Of course, when the dollar goes, I think, unfortunately, a lot of people in these less developed countries, they’re going to get burnt. And I think that’s why China and other countries are buying a lot of gold, because they know that the dollar is not worth the paper it’s printed on, nor their currencies.

I’m not just having a go at the dollar. The dollar is not the only one. So you’re going to hear a lot of people saying, oh, I’m going to wait to buy the dip.

Gold is too high. But what do I try to do myself? Well, I try to buy a little bit whenever I can. Silver as well.

It’s getting harder and harder to buy a full ounce. Of course, I think in the US people talk about fractional gold. I don’t think that really matters.

You just buy gold. It can be who says that one unit of gold has to be a troy ounce. It’s just because it’s priced in troy ounces.

So yeah, buy any gold you can be a gram, be it half an ounce, be it a kilo bar if you can afford. That’s the way I see it. So I’m going to refer to this first a pocketbook of gold by Jim Sinclair.

He passed away a couple of years ago. He wrote this in 2010. I know it’s really hard to find some some of you have found it.

And it costs quite a bit. I think something like $500. I didn’t pay that much for it.

Fortunately. One Jim Sinclair still had his blog JS mindset when it came out back then. That’s how long I’ve been following.

Well, I had been following Jim Sinclair. I think it was 2010. I bought this book maybe for 30 pounds here in the UK.

And I started following Jim Sinclair back in 2002 when I started first looking into gold. But I want to go to the chapter here, or the passage that I think is really important to what’s happening right now. And I know there’s a lot going on in terms of trade wars, disputes back and forth, US, China, EU.

But I would say those things are just symptoms of the end of the monetary system that we’ve had since 1944. You need to keep your eye on the ball. And what’s the ball? The ball are the fiat currencies.

Yeah, trying to time getting into gold waiting for a dip. The analogy I would give is that if you are on the Titanic, and it was sinking, yes, you would be the person that would go to the first class section and go to the dance floor party. And think, oh, it’s, it’s going to unsink, the ship is going to unsink.

It’s not that bad. I personally think that’s what the people who are waiting for correction. That’s, they’re playing with fire.

And yeah, and it’s simple, you just have to jump off the Titanic, preferably into with in a lifeboat, if you can get one. And pretty soon the lifeboats are going to be really hard to get. And that’s what a higher price of gold or a lower price of fiat currency is telling us.

Yes, I get comments sometimes, when we talk about gold, gold making new highs. And I agree. It’s the dollar and all other fiat currencies making new lows.

So that’s what I would say to the people who are who’ve been waiting for corrections for years. One of them is Harry Dent, who said gold was going to 700. There’s a few others out there.

I don’t want to really use names. But anyway, this is where we are. And gold is a revealer of falsely stated wealth.

And if you price everything in gold, ever since the year 2000, you will see that gold has outperformed all major assets, and it’s accelerating right now. So let’s go through this passage. When wealth is overstated and expectations for future wealth are unrealistic, fiat currencies depreciate.

The depreciation is born by the citizenry who are forced to lower their living standards to compensate for both personal economic mismanagement, as well as the mismanagement of the affairs of state. Financial and military overextension has a social corollary in over promise. Social Security, Medicare overstated real estate equities at once.

As expense runs out of control, guarantees to the citizenry also explode as politicians seek to retain the privilege of office. But the promises of wealth are false. The belief that ownership of real estate is a ticket to fortunes is hollowed out for what it is a myth.

Wealth that was taken for granted suddenly appears ephemeral. The amount of currency, which once bought certain things no longer does, but wages have not risen along with prices. Instead of wealth, citizens get saddled with a big chunk of government debt.

Yeah, 37 trillion and counting, i.e. debt created by mismanagement. Their result is everyone pays more for food, fuel, and other necessities. A government passes on the mismanagement of economic affairs to its citizens by devaluation.

Well, that’s what we’re getting now. And it’s not just the dollar that’s getting devalued versus gold. It’s all the other fiat currencies.

Yes, right now, the dollar is getting devalued quicker. But six, 12 months ago, the pound was getting devalued quicker. They just take turns.

Sometimes the dollar will sink faster, sometimes the pound or the euro, but they’re all going to the bottom. That’s what you need to understand. As in prison money manager Martin Armstrong has artfully stated.

Well, he’s out of prison now, of course. And I quote what Martin Armstrong said here. The decline in the value of a currency is in reality a free market tax, taking away wealth that is overstated.

So currency can also be an indirect tax to compensate for the poor management of the state, end quote. The corresponding rise in gold, especially when it is a global phenomenon as it is now, well, it is now too, not only in 2010-11, is in effect a devaluation of all the world’s currencies and the restatement of wealth on a global scale. As is both presently and historically evident, the attempt to restate wealth to a lower level becomes a competitive event in its own right as nations fight to devalue their currencies against each other to reduce the burden of indebtedness.

It should be recalled that when FDR lowered the value of the dollar vis-a-vis gold in 1933, America was the ninth nation to do so in a three-year period. Falsely stated and assumed wealth largely created out of the assumption of debts that cannot be borne must eventually reset at a lower level. Populations bear the restatement of wealth through the expansion of monetary aggregates causing a devaluing of the national currency that denominates their wealth.

This happens to all currency holders regardless if they personally assume any debt. Gold rises because gold is a monetary proxy inversely related to a nation’s currency. The burden of indebtedness is reduced along with the standard of living.

Commodity prices increase. Debt deflation has become currency inflation. They’re one.

So, yes, it’s serious, but if you’ve been stacking gold and silver, if you’re still able to do so, the purchasing power and your wealth will be protected and you’re going to be a very small minority. So, there’s the old Chinese saying that or I’m not sure what it is exactly, but that crisis and opportunity are the same. So, yes, this will not save you 10 euros or 20 pounds.

They’re all sinking. It’s not just the dollar and this book is really good as well. It’s much easier to find, of course, than Jim Sinclair’s and I think you can even get a free PDF online.

But, yeah, this is about the currency collapse in Germany and Central Europe after World War I in the early 20s. And the interesting thing that I wanted to note today is that throughout the period of currency debasement that happened prior to the hyperinflationary collapse and that only took like once it started, it was very quick. But prior to that, you had periods when the Reichsmark was strong versus the dollar and everyone thought, oh, it’s finished now.

But then it would just correct and keep going down. So, there’s a lot of like false alarms and I think there must have been a lot of people back then saying, well, yes, the market is going to recover and it never did because the fundamentals, the debt, all the reparations were, they weren’t like you couldn’t pay them back, all the debt that Germany had incurred. And it’s the same thing today for the whole world, I would say.

And so, yeah, read this book. It’s really great. It talks about how society was changing and how there was political, social, economic turmoil, pretty much like today.

And I also have a hyperinflation files, a playlist. So, I think you might want to look at that one. And also all fiat currencies are sinking, fiat currencies, they’re all sinking.

So, now before we look at where the markets are this morning here in London, let’s look at a few charts. The first one is one that I’ve been warning since late last year. And it’s this one here, rare upside breakout for a rising wedge in the price of gold.

And it’s a monthly spot gold price. And yes, it was around 2700 at the time, this trend line. We broke out of it.

And then after the election in November, we corrected back down to like 2500. And then, well, and then it just rebounded. And that’s why I thought this was a really important chart.

It’s long term, of course, it’s not day to day trading. And then the second one is comparing what happened back in Weimar, Germany, and Central Europe to what’s happening in the last 25 years or so in the US. And you might say, well, the German chart is a lot, it’s only a six year period or so.

And this one is 25. Well, there’s such thing in nature, called when cycles they look very, they look the same, but they have different timeframes. They’re fractals of other patterns, like small waves look like bigger waves, right? And yeah, I’ve been warning about this as well.

And as you can see, it’s really starting to catch up. And it looks very similar and very scary. Am I saying we’re going to a trillion dollars for gold? No, but we could go a lot higher.

And it says here the chart of fiat currency collapse. And by collapse, I mean, the collapse of purchasing power. And it might even lead to the whole world having to go into a new currency or countries having to issue new currencies because people will lose complete faith and confidence in all the currencies.

And I just wanted to show you the dollar index. Yes, I know the dollar index is breaking down below 100. We’re at 98.13 as I speak here.

But as I’ve said, I think I’ve said in the past, the dollar index is kind of a distraction, because it was created back in 1973, when the world went on to a floating exchange rate regime. And it was a way to keep track of the strength or weakness of the dollar vis-a-vis the major Western currencies. And it’s still the same basket of currencies.

And it started at 100. And here we are. Yeah, 52 years later, and we’re still near 100.

And even if you look back in 08, when we had the all-time low at around 70, just above 70, while gold at the time was 1,000, and it’s now 3,000, almost 3,400. So yeah, don’t get bogged down in the dollar index. Measure everything versus gold, I would say.

So let’s quickly have a look and see where we are. It’s a quarter to 9 a.m. London time. We got spot gold at $33.91. It’s up $64.

High’s been $33.96, low $33.26. Yes, silver is still underperforming. While gold is up almost 2%, silver is up 3 quarters of a percent at $32.78. $32.98 has been the high. I’d say the most important thing, for those of you who are into silver as well, is to be patient.

Well, the stock market, the Dow Futures is down 400 points or 1%. NASDAQ 100 is down 1.3% or 250 points. S&P is down 1.25%, so not good.

The pound and the euro are up quite a bit. The pound’s at 134, up 0.8 of a percent, and the euro is up 1.3% at 115. And the dollar is down over 1% versus the yen, and down over 1% versus the Swiss franc.

I think this is an all-time low, if I’m not mistaken, versus the Swiss franc. We’re approaching $80. I remember in the 70s, I think when we started going to Switzerland, you could fetch almost four francs for a dollar.

In the 80s and 90s, you could still get more than a franc for a dollar, and now it’s just, dollar’s just melting down. But again, you might want to have a little bit of Swiss francs, but ultimately, you want gold. Yeah, the other commodities markets, WTI Crude is down 1% at 63.

High-grade copper is up 1.1%, almost at 480, so copper doing pretty well. And last but not least, the 10-year yield is up a couple of basis points at 435. So with that, I’m going to wish you all a very good day.

Take care. Bye.