Nick Barisheff: How do we get $14,000 Gold?
Tom welcomes back Nick Barisheff, President and CEO of BMG, to the show. He points out that poking Russia was a bad idea and now we have to live with the results of the sanctions. Russia now wants Rubles or gold in exchange for all their commodity exports. This was an obvious retaliation.
Germany will be in big trouble should Russia cut them off from energy. Ukraine is the breadbasket of Europe and not much farming will occur in a warzone. Fertilizer will also be difficult to obtain and this fall we can expect food shortages in many countries.
Gold does best in stagflationary periods and we’re starting to see it now. Stocks, bonds, and real estate are all in historic bubbles and grossly overvalued. We’re well past due for a major correction and such a correction will only aggravate the problems. The Fed is cornered and has no viable way out.
Gold and silver are highly manipulated so that throws off-price discovery. Central banks lease their gold and may have leased much of it to China and Russia while still counting it on their books. Russia and China have some official gold but many estimate they have much more in their sovereign wealth funds. Those funds don’t report their holdings.
Both Russia and China want to move away from the U.S. dollar. The petro trade is responsible for upholding the dollar for the past forty years is now collapsing.
Russia’s change in policy is beginning to put a floor under the price of gold. We’re seeing the Ruble rapidly recover now that it has at least temporarily been tied to gold. Russian citizens no longer have to pay taxes on gold.
Trudeau and Biden both have terrible policies, especially around energy. Even now Biden doesn’t recognize that his policies on energy were a mistake.
Nick explains the policy of the WEF and what could destabilize their agenda.
The current supply chain problems are exacerbating problems with the economy while heightening inflation. We’re seeing a lot of ripple effects. Depending on the country we will see food supply problems and issues with fertilizer. We’re beginning to see rationing for energy and food in Europe and some goods may simply be unavailable.
Time Stamp References:
0:00 – Introduction
0:38 – Center of the Storm
3:40 – Factors boosting Gold
5:23 – Gold and Inflation
9:05 – Gold Backing Scenarios
11:22 – Rubles and Gold
12:48 – Gold Price Projections
14:15 – Dollar Devaluation Risk
15:47 – Market Cliffs
19:59 – Canada Bank Risks
22:09 – Energy Policies
23:16 – “Reset, The Great Reset”
26:45 – Supply Chain Crunch
28:53 – Fertilizer & Farming
30:48 – Diversifying Portfolios
32:07 – Gold Bar Database
35:33 – Wrap Up
Talking Points From This Episode
- Russia and the backfiring sanctions resulting in the gold-backed Ruble?
- Energy, fertilizer, and food are why supply chain problems may persist.
- The lack of proper gold price discovery and how much gold is in the east.
For the past 20 years, Nick Barisheff has focused on the world of precious metals and the benefits available to investors who hold physical gold, silver, and platinum bullion. As president and CEO of BMG, he uses his understanding of the precious metals markets to develop strategies, products, and services for clients looking to integrate bullion into their portfolios. His view on the precious metals sector is that gold, silver, and platinum, in bullion form, are a vital component of a client’s financial program and should make up at least 10 percent or more of a well-diversified portfolio.
In 2002, Nick launched BMG and BMG BullionFund, Canada’s only RRSP eligible open-end mutual fund trust that purchases equal dollar amounts of gold, silver, and platinum bullion. Subsequently, BMG Gold BullionFund and the BMG BullionBars program were launched as part of its growth initiative. The BMG Silver Bullion Fund was launched in 2016. Nick specifically designed all BMG products to avoid compromising any of the fundamental attributes of precious metals ownership: absolute liquidity, no counterparty risk, and no reliance on management skills. In 2011, BMG became an Associate Member of the London Bullion Market Association (LBMA). The only other equally accredited company in Canada is the Royal Canadian Mint, the Crown Corporation that produces Canada’s currency.
Widely recognized as an international bullion expert, Nick has written numerous articles on bullion and current market trends that are published on various news and business websites. He has appeared on BNN, CBC, CNBC, and Sun Media. He has been interviewed for many articles that have in leading business publications across North America, Europe, and Asia. His first book, $10,000 Gold: Why Gold’s Inevitable Rise Is the Investor’s Safe Haven, is a must-read for investors interested in the concept of sound money, who will benefit from Nick’s insights into the portfolio preserving power of gold.
Through BMG, Nick continues to develop products and services that allow investors of every level, from institutional to “do-it-yourself” individuals, to take full advantage of buying and holding uncompromised bullion in a diversified portfolio.