Nick Giambruno: Gold and Bitcoin Preserve Your Buying Power
Nick Giambruno : Gold and Bitcoin Preserve Your Buying Power for Casey Research
Rachel’s note: Today in the Dispatch, we’re bringing you part two of Casey Report chief analyst Nick Giambruno’s conversation with our colleague over at The Daily Cut, Chris Lowe. (If you missed part one, you can catch up here.)
Regular readers know Nick’s bullish on gold. He believes the historic run we’ve seen in recent days is just beginning. And that the fallout from COVID-19 will only accelerate the metal’s rise.
Recently, he uncovered a sinister government plan to confiscate everyday Americans’ wealth… while the mainstream is distracted by the coronavirus crisis.
And be sure to read on below for all the details behind the War on Cash…
Chris Lowe: Something I’ve been talking about for years is the War on Cash. There is a push to remove physical dollars from circulation in the U.S. Is that part of the changes that are coming in the money system?
Nick Giambruno: Yes. There are two things here.
First, there are the changes the elites, governments, and banks of the world would liketo implement. Second, there are the changes that may be forced upon them to implement.
The dream of statist, totalitarian central planners is a cashless system in which they control a digital currency. That’s what they would like to do. And that’s what they’re trying to do. Whether they succeed is anybody’s guess.
I hope they don’t. But they are moving in that direction. And it’ll be a nightmare. From a personal freedom perspective… from an economic perspective… it’ll be a total disaster.
The ethos of governments is never let a crisis go to waste. A crisis lets them do things they otherwise couldn’t do and push for things they otherwise couldn’t push for.
Moving towards a digital, cashless society has long been on their bucket list. This whole COVID hysteria might give them the perfect pretext to roll it out.
Whether that’ll be successful or not is undetermined. But there are ways you can protect your wealth in spite of all of these things happening.
Chris: I want to get to the ways to protect yourself in a moment. First, I want to stay with this idea that the U.S. government would stop printing the dollar and replace it with a digital version.
People would spend it on their phones, much like bitcoin or something. Is that how it would work?
Nick: Yes, it would. If you take a long view, this is well underway. Just think of how inflation has destroyed their buying power.