Gold prices are nearing all-time highs in Euros. Though gold has continuously been making new nominal highs in literally dozens of global currencies this year, the mainstream financial media has been conspicuously silent on the fact that the gold price is nearing all-time highs in Euros, as if this story was as untouchable as the child sex trafficking rings that exist in this world. Could the reason for the mass media blackout of these stories have a common denominator? – the nature of the extremely powerful people that have vested interests in both of these stories remaining hidden. Here is why this story is critically important to your financial health, whether or not you reside in the EU.
In a recent article, I discussed the nature of ignored stories like the appreciation of gold price against the Argentine peso by 27,880% in just the past five years. I would be shocked if you walked down the streets of any Mainstream City, USA, asked a million people how much gold prices have risen against the Argentine peso in the past five years, and found even one person that provided an answer within 10,000% of the correct answer. This is how much the rise of gold prices in other currencies other than the mainstream financial media reported US dollar gold price has been completed blacked out. In fact, you could probably walk down most cities in European nations and when discussing gold prices with people, discover that most were ignorant that the gold prices are nearing all-time highs in Euros. Of course, part of the reason for this mass ignorance is because irresponsible, ignorant mainstream financial journalists are constantly scripting stories about how gold is such a bad investment, like here and here.
Even speaking of gold as an “investment” is misleading because gold, and only gold, is real, sound money. This is the reason why gold prices are nearing all-time highs in Euros right now. Were a European citizen holding savings in Euros, an American citizen holding savings in US dollars, an Australian holding savings in Aussie dollars, a Canadian holding savings in Canadian dollars and a Japanese holding savings in Yen, similar headlines to the misleading “gold is a bad investment” headline would read “Yen is a bad investment”, “the US dollar is a bad investment”, and so on. Can you imagine if Fortune magazine ran cover headlines in their respective US and Japanese versions plastered with “The Yen is a bad investment!” and “The US dollar is a bad investment”? The level of push back and denial they would receive from their subscription and reader base would likely be monumental. Yet, whenever they publish stories about gold being a “bad investment”, such headlines never seem to engender any push back for their misleading and ludicrous nature.
Above, I posted the 20-year monthly gold chart in Euros, and we can observe quite clearly that gold has been approaching all-time nominal (though not inflation-adjusted) high Euro prices for the entirety of this year. Yet, walk through the streets of any major metropolitan European city not located in a nation with a history of hyperinflation (i.e. Germany, Hungary, France, Serbia, Kosovo, Macedonia, Croatia, Montenegro, Bosnia, Slovenia, Greece, etc.), and I doubt if anyone is aware of the enormous rise of gold price against many global currencies by several hundred to several thousand percent over the last five to ten years, let alone the fact that gold prices are nearing all-time highs in Euros. In fact, walk through the streets of cities located even in nations that have experienced hyperinflation in recent years and ask a thousand people if they own a couple ounces of gold, and you still may find not a single person that answers affirmatively. Though most people think of either Germany, Zimbabwe, Venezuela or Ukraine when asked about the worst cases of hyperinflation since WWII, the fact of the matter is that all the nations on the following list have suffered periods of hyperinflation in their monetary history even worse than that of the Weimer Republic (exceeding the daily hyperinflation rates in Weimer Germany): Georgia, Argentina, Bolivia, Belarus, Kyrgyzstan, Austria, Bulgaria, Uzbekistan, Azerbaijan, Congo, Peru, Taiwan, Hungary, Chile, Estonia, Angola, Brazil, Poland, Armenia, Tajikistan, Latvia, Turkmenistan, and Philippines.
If the length of this list astounds you, then the next that the majority of these hyperinflations happened in the 1990s should further astonish you. It should also prove beyond a shadow of a doubt that true monetary history of fiat currencies is deliberately censored from nearly all academic business classrooms. Can you imagine the classroom discussions and student questions that would materialize if business school professors taught their students about the hyperinflation of multiple nation’s domestic currencies into worthlessness during the 1990s?
Furthermore, due to a national history of their domestic currencies plunging into worthlessness, all citizens in the above 22 nations should be presently holding the majority of their savings in gold right now, In the past years, I have met nationals from Argentina, Chile, Brazil, Poland, Latvia, Philippines, Austria, and Taiwan, and discovered that only the citizen from Taiwan held more than a good portion of their savings in gold and not in fiat currencies. There is also a saying in the gold community that if you don’t hold it, you don’t own it. Of course that doesn’t mean you have to hide gold in your home if you don’t have a panic room or a John Wick, concrete sealed vault to store your gold. It merely means that you should take delivery of your gold and then store it in some private, non-banking secure site. Sovereign nations, like Venezuela, or learning the hard way, that if you allow other nations to hold your physical gold, you will never get it back even if you request it. This year, Venezuelan President Maduro requested that the Bank of England return its then $1.2B (valued much higher now) of gold bars but the Bank of England refused his request.
Though this is a topic that should be required in 100% of all business academic classrooms around the world, whether at the undergraduate or graduate level, it is a topic conspicuously absent from nearly 100% of all classrooms. This is why I continuously stress that reading, watching and listening to any mainstream media financial channels or to any person that constantly references “official” government key financial statistics is a complete waste of time, as no truth will ever be uncovered by someone that does not much more aggressively pursue self-education of these topics through accessing the websites and blogs of independent journalists and media sources. If the facts contained in this short article shocked you, then please ensure that you send anyone, family members, friends or colleagues, about whom you care, to this article as well. Understanding the underlying facts of the global monetary system, never discussed in mainstream financial media, is the only way to ensure that one is knowledgeable enough to properly prepare for the disaster that will materialize at the apex of the Central Banker global currency wars.