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Steve Forbes Video: Why Price of Gold May Soar in '21

Steve Forbes
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EDITOR NOTE: This video published by Steve Forbes tells us what most precious metals investors understand all too well: that the Federal Reserve’s money creation invariably dilutes dollar values as soon as the newly created currency begins circulating across the economy. We realize that perhaps many new investors in the sound money space may not quite understand the mechanisms that have caused the dollar to lose -84.4% of its value since President Nixon took us off the gold standard in 1971. With the pandemic spreading at an unprecedented rate, monetary and fiscal response isn’t close to reaching its apex. And with the Fed’s new 2% averaging framework in play, we’re looking at years of high inflation. The cost of living is going to rise beyond most Americans’ affordability as the dollar’s purchasing power continues to sink. The good news is that the values of non-CUSIP gold and silver will rise far beyond most conservative analysts’ targets. As the dollar self-destructs, metals are going to make up for the greenback’s decline. This reckoning has already begun, and 2021 will see it advance not toward completion but toward the completion of its opening move.

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Originally posted on Forbes

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