“Your purchasing power is being eroded literally by the day because the quantity of fiat wealth on the planet is going up every day,” warns Clive Thompson, retired managing director for Union Bancaire Privée in Switzerland. In an exclusive interview with Daniela Cambone, Thompson paints a stark picture of our financial future. As national debts soar in the Western world, the cost of goods and services, even human labor, is destined to skyrocket. He also points out that within a century, the vast majority of currencies have crumbled into worthlessness, leaving a few survivors merely worth a fraction of their previous value. Thompson asserts that the bleak future of fiat currencies explains why central banks are amassing unprecedented quantities of gold, far beyond any previous decade. This accumulation points towards an ominous conclusion—a monumental monetary reset looms on the horizon.
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📖 CHAPTERS:
00:00 Risks associated with cash in banks
10:11 Financial reset
12:32 Risks with the banks
13:50 Fed rate cuts
15:34 Commercial real estate
16:46 Gold
26:39 Bitcoin ETFs
27:41 Trajectory of gold price
29:43 Gold confiscation
32:00 Why gold?
33:39 Bitcoin
41:36 Clive’s investment in bitcoin
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📞 DON'T LET INFLATION ERODE YOUR WEALTH: As currencies decline, learn strategies to safeguard your purchasing power. Schedule your FREE 30-minute in-depth strategy session: https://calendly.com/itmtrading/500 or call 866-706-9061 and speak with someone today.
And now Gold is $4600 oz
This interview aged really well.
The banks in the EU are already limiting the amount of money people can withdraw from their own accounts! In Spain anyone wanting to withdraw 3000 Euros from their account now requires government permission to do so.
Bitcoin is not the best wealth because it is subject to the system. Gold in hand is the real wealth, regardless of the system, as far as money is concerned.
The Fed will cut a quarter point.
Even more relevant one year later with gold at $3300.
When I was quite young and still in high school, we took a field trip to a bank. The banker there did his speach as expected and then he said, "Real money is gold." I asked him what he meant and told me about the inverse characteristic of gold. I was impressed. Then he showed me chart that showed how silver and gold spiked in the great depression. I couldnt help but notice that silver spiked first, and it came right back down. Then gold spiked and it came right back down. I gathered that although both silver and gold jumped high, it didnt stay high as one would assume during a currency crisis. I eventually deduced that the precious metals spiked because of a demand driven by fear. I later talked to my grandfather, who lived through the great depression of the 1930s, and he said no one had any money. He said starvation was the greatest enemy of that period. This told me that when the economy stated showing signs of deterioration, its best to grow a garden and have a little livestock on hand. He really made an impression on me when he told me that people were so hungry, that they were eating the bark of off trees. Now, Im not a expert by no means, but it appears to me that a little silver and gold with a lot of food production is what can get you through the hard times of currency collapse or currency reset. Those memories of my grandfather were very valuable to me. I have two gardens growing with two extra beds, and Im planning on expansion. Im sure my neighbors will need help. I dont know if the present administration can rebound the currency or if we'll have to reset. It appears that he's giving it a gallant effort. He's down size the government and he's reigning in the spending. Its quiet interesting to watch.
I love listening to Clive he is full of knowledge and he explains everything clearly as he goes along. Along with that he is a real gentleman and I believe he is a very intelligent and honest person. Thank you Daniela.
Clive has a direct line to the financial Gods, I`m certain…
Nobody is talking about the banking problems because the banks are hiding it. The well to do won't lose but the middle class will tske it on the chin as planned.
It is silly to think Bitcoin as any use for 99% of the population. Very little chance to transact with bitcoin. Everyone is buy and hold anyways. If you like lots of fiat dollars that is the way to go until they go to zero. You can be sure the big guys like Saylor bought thousands of these when they had little value. Like a penny stock promoter these guys pump the stock and will exit before the little guy knows what is going on. Then they buy real assets. Something backed by nothing can never be worth more than what someone is willing to pay for it. Schemes like this only look different but always have the same bad ending. Just like Bernie Madoff left with the assets here they will just sail away.
An intelligent, experienced expert& good man!
Revisited this one – Great talk! – Happy New Year to all 🎆🍷
Great foresight on Bitcoin. Very sensible approach. Buy bitcoin direct and self custody.
Banks never learn – lend long ; borrow short. In the UK HBOS bank did this. They had to be bailed out by the government and Lloyds banking group (who bought HBOS) in the end to save them…back in 2008.
Lessons never learnt…
$2600 per oz December 2024😁
Clive did a great job on this video.
Since Texas is gold /silver asset backed, will my money be safe?
great video, Clive Thompson is so knowledgeable. Please have him on again to discuss his perspective
For bitcoin, in many cases, they are the childrens who are telling the parents how it works! 😏
Eh other than the bizarre bond example (probably stage fright), he has finally pulled back the curtains on gold. No more mystery about why gold stayed under $2k like seemingly forever (because central banks weren't buying at the high, nor were their decisions affected by hustle ads 😄😄😄 ).
I think it was Warren Buffett who said, gold is something you store it in a hole in the ground and post armed guards to keep it safe. Buffett was right about gold being a totally unproductive asset, in fact it's something that COSTS MONEY for governments to own.
This piqued my curiosity so I checked: silver and platinum are likewise used to store wealth and are indeed hovering near their highs, while palladium, which is an industrial metal, is near its lows.
I heard the ECB just decided to cut rates ahead of the Fed, anyone interested might want to keep an eye on the gold price in euro.
So what happened to part #2 of this video ??
12:15 GOLD always!!!
we back our nations currencies – our birth certificates are government 'bonds' via our social/national insurance account, against our lifetime of energy. we are 'born in sin; aka debt. this is the reason for the (trans-human/human augmentation – check out your governments websites) reset that is currently trying to be implemented. it will move us from a paper bond to a digital one for those who chose to accept a digi ID. DO NOT ACCEPT A DIGI ID or be coerced into accepting CBDC.
currently we are tricked into taking on 'titles' such as; citizen, account holder, doctor, school teacher – you get the idea, which then binds us into the law merchant system. what are we really? simply men and women. read any legislation, act, statute and it will always refer to a 'title', in other words, a fictitious entity, not a man or woman.
Excellent guest
When the dollar is gone, how would we use the gold for trade? How does my gold nugget get me food and water? What would be more valuable food or gold?
This was published 11 days ago and they are talking a gold price of 2300 by the end of the year. We are at 2400 now. With a correction they might be right that it comes back down to 2300. Amazing to watch this rally.
daniela on the point that someone will accept #bitcoin, best you speak with george gammon he tried to go to argentina and transact with gold and #bitcoin but no one wanted it.
is keeping it in #bitcoin any better? perhaps #gold in your own safe?
but even gold prices are now high.
what is not high.
Why is a system reset "Ominous"?
Franklin Roosevelt’s observation in 1933 to his friend Col. E. M. House that “The real truth… is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson.”
Scott, Peter Dale. The American Deep State: Big Money, Big Oil, and the Struggle for U.S. Democracy (p. 14).
Excellent! Thank you! He understands Bitcoin and its use / business case…
best advice you will ever hear, forget wealth, tomorrow morning go help someone, you will experience immediate happiness and then you will seek out a way to do it again and again, if you go for money,same thing,a bit of happiness,but the problem is,you get addicted and you need more money,not to mention you have spent the money you had,so , its more,more,more always more,so you find yourself working as much as you can to create money,all the while,worrying your head off incase the money stops,no happiness in that and the world isn't a better place.On the other hand,if you made yourself happy by making someone else happy,and because they are now happy,they make someone else happy,see how it goes,Simple is ,as simple does. But Hey, bet you continue to chase the dollar,,,,,,,,,,,,Yip,you gonna,,,,,,until the next time,,,,,,see ya,,,,,,Always remember folks,the general purpose of life is to learn and the ONE truly way to do so is,,,,,,to learn from the mistakes we all make, the smart guys change after a couple of failings,,,,,,the dumb ones just keep repeating their mistakes and,,,,,then, ,,,,,they,,,,,keep repeating their mistakes,then they die.So folks,just go help some poor soul and be happy and forget about the millions you are not gonna get anyways,,,,Simple.
Hahaha Daniela nearly started crying when he bigged up bitcoin
I got yesterday 2 ounces gold! Today price went up buy 40 euros feels great!😊
Where can you find everyone else getting richer?🤔
everyone else saws the branch on which they sit. instead of paying taxes🤯🤡
without a state there is no property because there is no one there to defend it🥴😰
Your guest is excellent along with his analysis
All the currencies of the BRICS nations will be on a one to one basis backed by each countries wealth in commodities that are agreed upon by the members of the brics nations . That includes the United States of America!
No matter how you cut it, no matter what you say or do, no matter what you call it, Bit coin is still fiat money and nothing backs it, just like fiat paper money.
Excellent
I think they didn't because they can't control/monitor adequately enough