BRICS Waking Up Humanity To Gold | Mario Innecco #Finance

if they’re going to go for an alternative they’re going to go for gold and I think that’s going to wake Humanity up to the how important gold is a as a monetary uh asset this is Kaiser Johnson with liberty and

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance and these are the miles Franklin weekly specials for October 7th through October 14th 2024 while supplies last first we feature Australian silver kangaroos at just $2.99 overs spot next backd 1 oz gold Canadian

Maples are just $60 overs spot to order our specials or any of the many other options we have available call us at 188881 Liberty that’s 1888 815 4237 we’re available after hours and on weekends and we look forward to speaking with you hey everyone this is Elijah K Johnson with liberty

and Finance and back with us today is our good friend Mario anco from the very popular Manco 64 YouTube channel Mario thank you so much for joining us today oh you’re

welcome Elijah nice uh being here again with you it’s great to have you I did want to discuss the upcoming brics meeting a lot of people are expecting them to roll out a brics currency unit that could be potentially backed by gold uh do you think it’ll happen this meeting and what do

you think the implications of that would be I think they will announce something I’m not sure it’s a currency it’s just a trade settlement mechanism uh they’re they’re going to call it I think the unit and uh it will be uh 40% gold backed that that’s the plan and

uh 60% uh backed by fear currencies I.E if if a country has 40% of their reserves in Gold they’ll have the other 60 in different currencies and I think there’s a limit to how much you can have of the other currencies and um I think uh they will announce something weather is going to be

up and running uh very soon is another uh question but uh I’ve noticed that uh the the trade amongst the bricks uh plus countries uh is uh less than I think 35 or 30% in dollars and Euros now so uh it’s growing it’s moving uh that way and the reason they’re using gold is

because they’re not going to use the dollar uh and uh the only thing really that you can trust as a monetary uh Reserve um is gold I I mean people have been fooled for the last 50 years into thinking that uh dollars and US Treasures are safe I I think that’s the whole problem here is

that people are going to realize they’re going to they’re going to realize the most powerful countries outside the West well if they’re going to go for an alternative they’re going to go for gold and I think that’s going to wake uh Humanity up to the how important gold

is a as a monetary uh asset now I think it’s really interesting because it seems like they are most likely going to move forward with this and if we they reintroduced gold into the monetary system it seems like that could be really a whole different ball game right because you have the rest

of the currencies of the world being Fiat currencies not back by anything then you have this one currency that’s actually tied to something real um do you think that’ll put pressure on the other currencies especially the dollar oh yeah it’s already doing so uh even though uh gold

is going up not just in dollars uh but also in Euros British pounds in Japanese Yen I mean Japanese Yen we’re almost at 400,000 Yen per troy ounce and even in the uh own bricks Fiat currencies it’s uh going up but uh I saw um a report from the Jerusalem Post the other day that uh Russia

has 31 a half% of its reserves now in gold and I think that’s going to keep growing oh yeah it will definitely be a problem for for the West for for Government Bond Markets not not just

us treasuries but uh UK guilts and European government Bor Markets these countries they’re they’re not going to yet they will not buy as many uh Western treasuries and government

Bonds uh as they normally would have if they weren’t going uh into a a a gold uh backed uh system and that’s going to put pressure uh on bond Yields and we’ve seen bond Yields rise uh ever since the FED uh cut rates on the on

September 18th it might be a little bit of uh the market say the FED is done too much in in terms of cutting the things are Inflation’s still pretty strong but I think it’s also to do with the fact that there will be a lot less demand for our paper which is as you know

is you you can’t pay pay off U fiat currency the only way to retire fat currency is to issue more and more Debt in the gold back system they’ll be able to settle trade extinguish thatt with gold that’s what people don’t realize that with gold and silver as

well you can extinguish that that’s how you pay a Debt you uh someone comes with a promisory note or a fiat currency and uh you um give them the golden silver and you’ve you’ve settled the Debt so what you’re describing seems to maybe put a

put the FED in an interesting position because you know they’re cutting rates right now but if there’s not demand for us treasuries or not as much demand that seems like that would raise Interest Rates not lower them so how do you think the FED will figure that out yeah

it’s already happening as I said uh we uh saw the 10-year Yield go down to 3.6 now it’s above four last time I checked it it might have moved a little bit but uh the only way toh solve the problem of uh a der of demand from from foreigners is uh for the FED to stop QT

which is quanitative tightening un unwinding its Balance Sheet of uh us strategies and and then uh resume doing QE but that in of itself would uh yeah put a rocket up the gold and silver price and it would mean more and more deValuation for the dollar but they

might not have a choice uh and uh well we could have also uh apart from the FED we could see uh the FED would the Treasury introduce new rules for Pension funds force them to uh buy a certain percentage of treasuries to to keep uh to raise uh the demand uh domestically who knows a

lot could happen but in the end of the day it’s going to hurt the the dollar uh I would say now you recently interviewed our mutual friend Clive Thompson and he was talking about how there you know you know there might be a second wave of Inflation coming can you tell us a

bit about your conversation with him and kind of what are the some of the reasons why um there might be a more Inflation coming because it seems like the FED is banking on that you know Inflation is pretty much over yeah well uh there’s a few factors one of

them is geopolitical um in uh Middle East that’s always like uh in in the background and uh it it could rear its had uh in in that uh a bigger conflict there could uh mean that Iran might uh stop oil flowing through the straight of Hormuz that would uh make the price of oil go a lot higher

that would raise prices and it would be considered Inflationary the other one I I would say is the Chinese stimulus uh even though a lot of commentators in the west don’t think that China have given enough details that and that they’re not going to do enough but from

what I’ve seen is the the fiscal stimulus has to be rubber stamped by the uh National people’s Congress uh in China and that’s why they haven’t come out with the details but uh I I think the Chinese are going to be very uh accommodative uh not just monetarily that

we’ve seen already but also fiscally so that that’s going to put a a lot of demand be underneath the Commodities market and and also um looking back historically uh in the 70s there were three waves of Inflation and uh it’s not uh yeah it’s not far-fetched

to think that we’re going to see another three waves because things always come in cycles and and don’t forget back in the 70s we had a lot less uh Debt as a percent percentage of GD p and and now we don’t so uh yeah and I think also uh the fed and the

Treasury uh everyone’s worried about the economy slowing down so uh yeah we we could have uh some kind of stagflation in the second wave now with the US elections coming do you anticipate that impacting Inflation at all I mean my perspective is you know maybe

Biden sped up some Inflation and the Democrats might speed up Inflation but at the end of the day it’s more of a monetary phenomenon um rather than you know just government policy it’s more more has to do with what the FED is doing ultimately than than

policy yeah the FED uh but also um fiscally and uh if you remember well when we had lockdown that was 2020 20 uh beginning of 2021 and the FED uh printed trillions of dollars and uh this was under the the Trump Administration and yes uh the Biden Administration came in and they passed a lot of

spending new spending but so so had the previous administration we were running uh an almost 6% Budget Deficit in 2019 already uh and uh yeah I agree with you the the FED uh is going to determine things because it is a monetary phenomenon but uh that that situation wasn’t

that that went up also a lot under Trump uh as it’s going up under the the Biden Administration and some people uh that are even prot Trump people that I’ve spoken to they think that um with a lot of tax cuts that Trump is promising you could see a lot of a lot of uh

Inflationary pressure uh unless um you see government spending being uh reigned in and we know that uh Congress uh and uh cutting government spending don’t really go hand inand uh both parties uh they they seem to always want to spend and with all the geopolitical uh

situation going on in the world all all the proxy wars I I don’t see uh Congress reigning in any spending and I I I think uh Donald Trump in one of his debates it might have even been the one with uh Biden I’m not too sure he he’s he promised to uh make uh everything whole in

terms of all the uh unlimited Liabilities that the US government has so e either uh e either uh government whoever wins I don’t think uh things are going to slow down in in terms of uh the Inflationary pressure and the underlying reason why I think that

Elijah is that um you can’t uh yeah you got to keep the fiat currency uh Debt based system going because if you slow down everything implodes so even uh under Trump um that’s going to happen too so that’s the way I see it now when it comes to what we’re

seeing in the gold and silver Markets I wanted to get your take on that cuz obvious we’ve seen new all-time highs around 2700 a bit of a pullback here now um but do you think this is

mainly uh because of the brics Nations buying gold and possibly rolling out a gold back currency or do you then do you think you know if they announce that then we’ll maybe just kind of see a you know maybe a reduction in purchases or do you think we have a lot more to run from here yeah I I

think uh definitely the bricks Nations that have been acquiring gold they since 2022 if you remember 2022 uh was a record amount of net buying for central banks ever since the uh Breton Woods agreement in the 40s and last year it kept uh was almost the the same amount and it’s not just bricks

Nations uh you’ve had countries like Poland and other countries that are not in bricks buying a lot of gold because they see the right in on the wall I think that uh people are concerned uh of leaving their uh reserves with uh with the us or with Europe it might be frozen or confiscated and

um as I said earlier Russia they’re up to like 31 and a half% of their uh reserves in gold and and it looks like the target is going to be 40 so I think they’re going to have to keep buying gold and don’t forget these reserves always change depending on um International Trade so I

I don’t think uh it’s going to stop uh and I I think uh eventually countries in the west are going to have to uh catch up as well so I don’t see any slowing down in the purchasing of gold uh and but I think uh yeah the price has been driven more by the Central Banking sector the

uh the consumer uh the retail um like Market in the west is not that strong even though we’re seeing anecdotal evidence some some some uh proof or maybe some uh stories that show that people are starting to wake up like they’re selling uh gold at Costco now and that they’re

running out of gold uh so yeah I I think there’s still a lot to u to uh see in in the gold space especially in the on the retail side not just in North America but also in Europe and if you add that to the Central Banking buying that I think is going to continue yeah we’re just in the

beginning I think uh Elijah of this uh gold boom market and as for silver we’ve seen Silver sustain over the $30 level and a lot of people are looking for a potential breakup out coming soon uh your take on where silver is right now yeah I mean silver is uh a much easier market for the uh

bullan Banks and the central banks to control because it’s a smaller Market but I I think uh they’re running out of rope uh because there’s a lot of physical real demand for silver from China India and other countries and uh eventually they’ll have to to cover these massive

short paper positions but the level um that they’re trying to defend right now is around 3250 or even 33 I think we touched almost touched 33 a week or 10 days ago um so uh yeah I do expect eventually silver to outperform gold uh uh but uh you need to remember that silver will be a lot more

volatile on the way up and down definitely and if our viewers are interested in learning more they can go to your YouTube channel Manco 64 do you have any last thoughts for our viewers and tell us a little bit about what they’ll find on YouTube yeah my YouTube channel uh at Manco 64

it’s the home of alternative economics and contrarian views and uh I I post a CashNews.co uh yeah every day on the weekend uh I’m I do a live stream on Sunday at 5:00 pm eastern time I’m based in the UK and I try to answer as many questions as possible during the live stream and

uh yeah and we focus on sound money small government and uh free Markets which is something that we lack unfortunately everywhere around the world but uh we can’t we got to keep uh yeah

trying to uh tell people that there is another way other than big governments and uh central banks and Inflation that’s what I try to uh do on my channel and I try to keep keep in touch with the text-decoration: none;">Markets with Interest Rates the the gold market and and currencies as well which I think is really important fantastic well Mario really appreciate your time today as always thank you so much and God bless thank you Elijah God bless this is Kaiser

Johnson with liberty and Finance and these are the miles Franklin weekly specials for October 7th through October 14th 2024 while supplies last first we feature Australian

silver kangaroos at just $22.99 overs spot next backdated 1o gold Canadian Maples are just $60 over spot to order our specials or any of the many other options we have available call us at 188881 Liberty that’s 1888 815 4237 we’re available after hours and on weekends and we look

forward to speaking with you