Money Printing Will Unleash a Historic Gold Bull Market
Money Printing Will Unleash a Historic Gold Bull Market By Nick Giambruno for Casey Research
For over 5,000 years, gold has been mankind’s most enduring form of wealth.
Throughout history, many different civilizations around the world have all come to the same conclusion: gold is money.
That didn’t happen by accident.
It happened because gold has a set of characteristics that make it uniquely suitable as money. It is durable, divisible, consistent, convenient, and most important, it has strict scarcity.
Physical gold that you store securely in your possession represents wealth that criminals, thieves, and governments cannot easily steal, confiscate, freeze, sanction, or devalue.
But for the last 50 years, governments and their lapdogs in academia and media have tried to minimize the importance of gold in favor of their inferior paper currencies – which they can, of course, create unlimited quantities of whenever they want.
Ron Paul put it best when he said, “Gold is honest money disliked by dishonest men.”
Paper money and all the ills it brings amount to the scam of the century… and you are the victim.
But here’s the good news…
It’s all going to change sooner than most people think. Not only that, but if you position yourself right now, you could make huge profits.
The Biggest Gold Bull Market Ever
About a year ago, after putting together the pieces to see the big economic and political picture, it became apparent to me that we were on the cusp of something truly historic. I said we had just entered the biggest gold bull market in history.
A few weeks later, the price of gold broke out of its six-year trading range and rocketed higher.
The trends that pushed gold higher last year are only getting stronger.
Plus, now there’s a new trend that’s adding rocket fuel for higher gold prices – the government’s misguided reactions to the coronavirus and ensuing stock market crash.
Governments are destroying their currencies at breakneck speed. Following the outbreak of the coronavirus, which popped the “everything bubble,” governments have thrown out the last semblance of fiscal and monetary sanity.
The U.S. federal government is bailing out just about everything – the airlines, the tourist industry, the shale-oil industry.
It’s even sending just about every citizen more than $1,000 each.
In a matter of days, central banks have fired up the printing presses and created more currency units out of thin air than they have for most of their existence. To call this reckless would be a severe understatement.
As governments race to destroy their currencies, it will only make gold more attractive. Have a look at this chart of the gold price this year plotted against the S&P 500…
So far this year, gold has risen 16%. And the S&P 500 is down 13%.
The bull market of 2008-2011 saw gold rise 166%. That could pale in comparison to what will happen with the unprecedented torrent of money printing global central banks are unleashing right now.