Tim Price talks to Dominic Frisby about wealth management

Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Tim Price, of Moneyweek, and Dominic Frisby, of the GoldMoney Foundation, talk about the unprecedented banking and debt crisis. Tim explains that their main objective at present is capital preservation.

They discuss the extraordinary situation of the US Treasury market, which are deemed a safe haven despite representing a debt burden which, according to Tim, will never be repaid. However he explains that such dire situations can last a long time as history has shown in the case of the Roman or Soviet Empires.

They talk about Reinhart and Rogoff's well known 2008 study of banking crisis "This Time is Different" and how it shows that government debt on average rises by 90% after a banking crisis. Other symptoms include a prolonged stock bear market and rising unemployment.

Tim talks about how monetary stimulus does not create wealth and distorts equity markets, commodity markets and the economy in general.

They also talk about the importance of gold for wealth preservation, especially as protection from currency devaluation. Buying gold is one of the few ways to be insured against runaway inflation and extraordinary monetary policy.

Category:

News & Politics

Tags:

• gold
• gold price
• buy gold
• gold bullion
• debt crisis
• economic crisis
• currency crisis
• Treasuries