In a recent interview with Soar Financially at the Vancouver Resource Investment Conference, renowned precious metals expert Andy Schectman made a bold claim: a gold revaluation to a staggering $142,000 per ounce could be the solution to the world's burgeoning debt crisis.
Schectman, a frequent guest on financial news platforms, outlined his theory, stating, "Put the gold and as crazy as it sounds Kai, you put it at 142,000 an ounce and 100% of your liabilities on the US balance sheet would be offset with gold and would give you options... Every $4,000 increase in the price of gold, the treasury general account gets a trillion free and clear."
He acknowledged the radical nature of this proposal but emphasized that similar revaluations have occurred historically. "Roosevelt confiscated gold in April of 1933, paid everyone $20.56 cents for their $20 gold piece... immediately he devalued the Dollar by 40% making gold $35 an ounce," Schectman explained.
Schectman pointed to growing support for this idea, citing Senator Cynthia Lumis's proposal to revalue US-held gold and use the proceeds to purchase Bitcoin. He also highlighted the unprecedented levels of gold accumulation by central banks worldwide, a trend he believes signals growing recognition of gold's strategic importance.
"Why would the central banks be purchasing it at a level the world has never seen?" Schectman questioned. "And it's not stopping... there is a drive to revalue the price of gold to reflect a balance sheet across the globe that are filled with liabilities."
However, Schectman acknowledged the potential ramifications of such a drastic move. "It would create hyperinflation quickly," he admitted. "It would eradicate debt across the whole spectrum and then would hopefully allow a new system to rise from it."
Beyond the gold revaluation theory, Schectman emphasized the strategic importance of silver. He highlighted the growing demand for silver from major industrial consumers like China, coupled with declining global mine supply, creating a significant supply-demand imbalance.
"Silver is the most asymmetrical risk-reward trade I've ever seen," Schectman declared. "Lowest downside, best upside... They're using our suppression against us. It's jiujitsu – use your opponent's leverage against you."
Schectman also warned about the dangers of the current silver market, dominated by massive short positions held by major banks. "That's a powder keg waiting to blow," he cautioned.
The interview touched upon various other crucial topics, including the rise of central bank digital currencies (CBDCs), the weaponization of the US dollar, and the increasing geopolitical uncertainty facing the world.
Watch the full interview:
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