James Turk's presentation on the gold price and the US dollar

James Turk of the GoldMoney Foundation speaks about currency devaluation and the rising gold price. How the gold price is rising against all major currencies and monetary policy is political, having abandoned all pretence of seeking monetary stability. He warns of the dangers of a hyperinflationary crisis. James also explains why gold should be considered money and not an investment.

He also talks of the coming dollar collapse and the waterfall decline in the dollar, especially since Ben Bernanke's words on QE. He talks of different examples of hyperinflation from paper money hyperinflation in Weimar Germany to deposit currency hyperinflation in Argentina. The presentation was held on 29 April 2011 in Munich, Germany.

Category:

News & Politics

Tags:

• gold price
• fiat money
• euro
• dollar
• James Turk
• hyperinflation
• video
• gold investment

[MycroftHolmes10]

@Fruerik  You are not getting his point. It's the dollar, euro, pound that are fluctuating. 1oz of gold is always 1oz of gold, so it does have constant value. Gold is money, it's what you use to measure what other things are worth.

[HazelMeade2015]

I specially like the gold/oil chart. How the world has changed since 1971!

[TheGoldCompany]

Human Freedom Rests on Gold

Redeemable Money

By HON. HOWARD BUFFETT

U. S. Congressman from Nebraska

The apple fell far from the tree.

[lancefiasco]

Own gold at any price? This is so silly. Even if you consider gold to be a currency, you shouldn't be naive enough to believe it cannot be overvalued.

[TWSceptic]

@BlackonWhiteChevy I understand perfectly what he says. But I can't say I agree. How is gold safe and without risk? It isn't. It's speculating on prices changes. And the safety was gone in 1980 when prices dropped. So gold is an investment as well as money, it's speculating as well as liquidity. Of course the only reason he categorizes it as "Safety" is because then he will sell more gold. It think that's pretty obvious.

[BlackonWhiteChevy]

@TWSceptic Cant say I do. Were talking about the true economic financial definition and characteristics of an investment, look at the slide he shows at 2:10, then listen to what he says, did you listen to and understand his crude oil comparison? 4:36 and on

[TWSceptic]

@BlackonWhiteChevy The value of gold isn't just going up because the dollar is going down, that could never explain the 400% increase in value over de last decade. So there must be more. Perhaps it could be explained by many other factors like more welfare in the developing countries, so more demand with little more supply. This means gold is a good investment, even if you perceive it as money. Agree?

[BlackonWhiteChevy]

@TWSceptic He explains it pretty clearly, also read the top comment, gold doesn't generate money, it stays constant, while "money" can lose its value, and has.

[TWSceptic]

Why does he say gold isn't an investment? If you bought 10kgs of gold in 2002 and spend about 100.000 euro, you'd have 400.000 euros by now. Not a bad investment if you ask me?

[Lectrotraxx]

@badhuisstraat20 ik kan altijd kiezen in welke munt ik koop of verkoop. op dit moment gaat alles nog in euro. nu de euro zal mss nog 10 bestaan en dan is het gedaan. dan vliegt de goudprijs nog meer omhoog en kan ik het verkopen tegen eender welke munteenheid ze dan in het leven hebben geroepen ;)

[Watsilavit]

Wow. Great speech. Right to the point.

[ytrogergt]

nervous speaker.