GoldCore's Research Director Mark O'Byrne discusses what a currency reset would look like today and why it will be a "very messy" process as fiat currencies are devalued significantly versus gold.
It would likely be a global event involving all fiat currencies including the dollar, the euro and the pound and would occur along with global bank "holidays". It could include fixing the price of gold at a specific price, like $€£ 10,000 per ounce. It is likely to happen "at some stage in the coming year."
Talking Points From This Episode
• What a currency reset could look like.
• Futures manipulation in gold and silver.
• Targets for gold and the potential in silver.
• Very high demand for physical silver and high premiums.
• Gold market seasonality.
Banks have been prosecuted and found guilty of futures manipulation, particularly in the gold and silver markets. This artificial price volatility can and has discouraged investors from entering the market.
Physical demand is now much higher globally, with premiums skyrocketing across the entire supply chain.
Mark O'Byrne is Director and a founder of GoldCore, which he founded in 2003. He is a staunch believer that due to today's significant macroeconomic and geopolitical risks, saving and investing a portion of one's wealth in gold bullion is both wise and prudent.
He has been an Executive Director in GoldCore since its foundation, and today is the Marketing and Research Director.
Mark has a B.A. in History and Greek and Roman Civilisation from University College Dublin, and this gives me an insight and a prism with which to view today's turbulent world. He is a regular contributor to media internationally and takes part in the Reuters, CNBC, and Bloomberg gold and precious metal surveys. GoldCore is now an acknowledged expert on precious metals, and their research is respected as informative and enlightening
