George Gammon Is Wrong About Gold and Argentina | Rafi Farber

➡ Rafi Farber talks with George Gammon from The Endgame as he disagrees with George Gammon’s view that gold is not a viable currency in Argentina. He argues that while currently US dollars are more liquid than gold in Argentina, in a scenario where the dollar collapses, gold would become the most liquid commodity. He believes that all currencies will hyperinflate when the US dollar does, as they are all based on it, leading to a situation where gold and silver become the only accepted forms of money. Raffi suggests that this will be a temporary situation until a new, more decentralized and market-tested currency system is established.

➡ This video is an advertisement for Miles Franklin Precious Metals, a company that sells gold and silver coins. They’re offering special deals on South African Kruger and Canadian Maple Leaf coins. The video also mentions a subscription service called End Game Investor, which provides information about money, economics, and precious metals. Lastly, the speaker mentions a Patreon page where you can support them for a small monthly fee.

I will name him George, and I will hug him and pet him and squeeze him. Hey guys, Raffi here from The Endgame Investor and today we’re going to talk about George Gammon and why he’s wrong about gold and Argentina. He came out with a video last month going to play snippets of it here and the link is in the description below where George is explaining why gold is not liquid in Argentina and then coming to the conclusion that because gold is not liquid in Argentina right now and instead they’re using US dollars that we’re never going to be trading in gold or silver directly though silver was a little bit easier.

He walked around Argentina basically tried to get people to exchange gold and silver for dollars I think it was and he was mostly unsuccessful especially with gold he couldn’t sell the gold for dollars because dollars are much more liquid than gold in Argentina. That is all true. What George is missing when he’s wrong about is that when the dollar collapses he assumes that you won’t go to gold directly as money because even George can’t seem to wrap his head around the concept that in a dollar crash in a dollar hyperinflation all currencies hyperinflate and therefore nobody will exchange gold for any currency instead they will use gold directly.

I’m going to play the relevant clip here and then explain why George is wrong. Now when I say that George is wrong doesn’t mean I dislike George. George is a great guy. I love George Gammon. I will name him George and I will hug him and pet him and squeeze him. He has very good commentary. A lot of what he says in this video is true is just missing the final step where it puts it all together and it explains that in the endgame when there is no more dollar then gold becomes the most liquid commodity because the only reason that any currencies have any value is either because they are gold derivatives like the US dollar or US dollar derivatives like every other currency or some combination of being a gold derivative and a dollar derivative and that means from a logical purely logical positive standpoint that when the US dollar the main gold derivative when it collapses then there are no more functional currencies and so there is no currency trading and the entire angle that George Gammon is trying to prove coming to Argentina trying to exchange gold for a currency that he can then buy stuff with that’s not working but that’s not going to be what is happening.

Okay we’ll just play the clip and I’ll explain from there but let’s just say for a moment that the US dollar is hyper inflating and the Swiss franc isn’t so he’s holding on to Swiss francs so you go to this gold dealer and he says okay I’ll give you fifty thousand dollars and you say no no no I don’t want that. Okay first of all the hypothetical here is that let’s say that the US dollar is hyper inflating but the Swiss franc isn’t well that can’t actually happen because the Swiss franc is a US dollar derivative to a large degree the Swiss national bank has mostly US dollars and US treasuries on its balance sheet which means that the Swiss franc is backed by US dollars therefore you can’t have a situation where the US dollar is hyper inflating but the Swiss franc isn’t if the backing of the Swiss franc is collapsing then so is the Swiss franc in purchasing power.

I want to sell you this gold but I don’t want to sell it to you for a hyper inflating currency I want to sell it to you for a currency that is stable relative to goods and services that I’m buying so then the gold dealer says okay well there’s no way I’m gonna give you my Swiss francs and you say George why wouldn’t he do that wouldn’t he want the gold even more than Swiss francs because that’s a fiat currency and that’s likely losing value but what you’re not realizing is that let’s say the gold dealer does get the gold now what does he do with it if he’s a gold dealer he’s there to make money not just collect gold right so now he’s got to find a buyer for that $50,000 worth of gold that will give him not the dollars that are hyper inflating but the Swiss francs that are maintaining their value.

The real answer to the question of why would he accept your gold is because he wants to sell you something and the gold is the money that he’s trying to enrich himself with. It is true that nobody will accept gold until everyone accepts gold and the only way everyone is going to accept gold directly is if no currency is functioning at all. If every currency is hyper-inflating, which is what will happen when the US dollar hyper inflates because every other currency is based on the US dollar.

All of the central banks of the world have a reserve of US dollars to back up their currencies which makes the dollar the reserve currency of the world. It is not just a statement it’s not just a bunch of words it means that the dollar backs every currency so if the dollar crashes all currencies crash. You don’t have anybody trading gold for currencies to buy things with there’s no currency middleman anymore between money and transactions.

There’s no more gold derivatives because they are all dead and so why do people start accepting gold and silver because that is the money. It’s the only one left now it is true as long as there is a bank derivative in the middle of the equation like the US dollar which is a gold derivative then the government can issue banking decrees and say you can only take out such and such amount of cash every day in dollars or pesos or whatever it is. That way they choke off the system and keep the hyperinflation just running at a slow boil and drawing it out for years and years and years because of the US dollar that is holding on the system in a death grip.

But once the US dollar dies then nobody’s going to want bank accounts at all of any currency at all and they’re just going to trade physical gold and silver one to another. Take out of your pocket and to the guy silver is going to be much more liquid which is why it’s going to descend to a 15 to 1 ratio because it’s going to be very difficult if not impossible to actually trade gold for retail amounts of stuff. This is going to be the function that brings gold to silver down to 15 to 1 so people can use silver to buy things but there aren’t going to be any currency exchanges of gold between currencies because all currencies will be worthless.

When all currencies are worthless it’s not like people make a rational decision to go to gold and silver it’s that they have no other choice. It is a pyramid an inverted pyramid and the base of it is gold and silver as long as part of that pyramid remains functional mostly the US dollar as long as it remains functional then the monsters have controlled the system. They can lock down the bank accounts so that people can’t withdraw cash and draw out the hyperinflation but once the dollar is dead they can no longer do this.

Gold and silver become money directly for a short period of time until a new derivative system can be devised which is going to be hopefully much more decentralized and honest because it’s going to have to be tested by the market in order for it to have any legitimacy as a gold derivative. But what George again just doesn’t get is that once the dollar dies there are no more currencies the only currencies that can survive a dollar crash are those that go to gold and silver as their backing. Those backings are going to have to be tested by the market or the derivatives will be rejected even if they are supposedly backed by gold and silver at their respective central banks.

So while George is very correct about a lot of what is going on in Argentina he misses the final step of the end game when yes we are going to return to a world where you’re going to have to reach into your pockets pull out some coins and buy stuff with them. I don’t know how long it’s going to last but that is the reset of the monetary system when all the derivatives are cleaned out like the garbage they are. The city used its mob connections to obtain a rocket and launch the garbage into outer space including bitcoin and all unbacked blockchains.

I don’t even know if gold-backed blockchains are going to survive because I don’t know if they are hoaxes and I don’t know what’s going to happen if the electrical system is down or the electrical grid or whatever you want to call it. But yes George you’re going to accept the gold and silver when everyone else does and everyone else will accept gold and silver when there literally is nothing else to accept as a money. Hey George why hey this video is brought to you by Miles Franklin Precious Metals.

Call 855-GAME-END or email endgameinvestor at milesfranklin.com if you want your gold and silver and yes you will be using it as money for a short period of time and they will once again be the most liquid commodities in the world and therefore money. The first special this week is one ounce South African Krugerrands only $49 over spot. There’s also 2024 one tenth ounce of gold Canadian Maple Leafs while supplies last only $29 over melt.

Some people have asked me what’s the machine melt and spot and the answer is melt is the amount over the actual coin where over spot is the amount over the spot price. So a one tenth ounce gold Canadian Maple Leaf $29 over melts would be $290 over spot because you’re multiplying one tenth by ten to get one ounce and then you have the dollars over spot. One ounce South African silver Krugerrands will be three dollars and ten cents over spot. It’s a one ounce coin therefore the term is over a spot rather than over melt.

You also have one half ounce Canadian polar bears while supplies last like two dollars and fifty cents over melt why over melt because it’s a half an ounce coin therefore it’s five dollars over spot you get the point. And one thing about these Canadian polar bears I spoke to Andy Shepman and yes they are backed by real polar bears they are in a vault somewhere in Antarctica and if you go to that vault you can get your polar bear. And as always you can support me by signing up to the end game investor at endgameinvestor at substack link in the description below.

You can be my patreon on Patreon for as little as three dollars a month to get ancient lessons about money economics government gold and silver and things like that. Last week we went into a mythical city in Africa that was full of gold and silver and Alexander’s trip to that country and why they are so full of gold and silver. Get that lesson for free in the link in the description below and if you’re interested in that kind of stuff besides being my patron on Patreon thanks have a nice day and I’ll see you guys probably next week. [tr:trw].

 

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