Amphora CIO and author John Butler who has written The Golden Revolution has some blunt things to say about the future of the gold standard in his interview with Reuters TV. Returning to the gold standard is almost inevitable? John Butler says that’s a strong word but he says if you connect the dots, it leads you back to the gold standard in the very near future.
Watch the Interview of John Butler Below
When Jamie McGeever asked, he got some of the reasons John Butler feels it’s heading our way are on the horizon and pressures coming from around the world. US Monetary policy is at odds of what other countries want. BRICs are making a lot of pressure on the United States with statements that shows they’re not happy with the Federal Reserve. Someone, a country will be a first mover and go back to the gold standard and force the issue for all countries to deal with.
How soon could a gold standard change happen in the worldwide economy? Mr. Butler says that it could happen as early as next year and one reason why is when the BRIC nations made the declaration that they are now working on forming their own international monetary fund and their own world bank. They’ll continue to grow there dependence on bilateral currency arrangements for trade. The timeframe for the BRIC countries has been pegged at one year so far.
If any major country moves to the gold standard and away from paper currency it will shift the US into an immediate decision mode coined as a, “Bretton Woods style crisis meeting.” This would be a meeting where the powerful elite of the United States make the decision to reinstate their gold standard or allow the dollar to completely lose it’s reserve currency status.
What kind of future does that hold for gold coins, gold bullion and other gold products? It could push the price of gold to $5,000 an ounce and potentially even elevate it to $10,000 an ounce as it would become an asset in cross border balance of payment transactions. It certainly shows that if things continue moving in the direction that they are, gold could be on a wild ride and literally become the bargain of a lifetime.
What do you think? Do you think gold bullion and investments will face a world change to the gold standard and climb to $10,000 an ounce?
Gold standard inevitable, $10k/oz looms, says new book (5:18)
April 26 – A return to the gold standard is inevitable, perhaps as early as next year. And gold prices could hit $10,000/oz, says a new book by Amphora CIO John Butler.
It might be easy to write off Mr. Butler’s assumptions that the world is on pace to reach the gold standard soon. We found some pretty credible statements from professionals around the world that think this new book and his views present a pretty solid picture of our future and what may lie before us. Here are some of the best:
“John Butler provides much illuminating detail on how the world′s monetary system got into its present mess. And if you′re wondering what comes next, this is the book to read.”
–Bill Bonner, author of the New York Times bestsellers Empire of Debt, Financial Reckoning Day, and Mobs, Messiahs and Markets
“John Butler has written an indispensable reference on the subject of gold as money. His book is a combination of history, analysis, and economics that the reader will find useful in understanding the use and misuse of gold standards over the past century. He breaks the book into a long series of essays on particular aspects of gold that the reader can take as a whole or in small bites. It is technical yet accessible at the same time. The Golden Revolution is a useful and timely contribution to the growing literature on gold and gold standards in monetary systems. I highly recommend it.”
–James Rickards, author of Currency Wars: The Making of the Next Global Crisis
“In The Golden Revolution, John Butler makes a powerful case for a return to the gold standard and offers a plausible path for our nation to get there. Enlightened investors who blaze the trail will likely reap the greatest reward. For those still wandering in the dark, this book provides necessary light to keep you headed in the right direction.”
–Peter Schiff, CEO, Euro Pacific Precious Metals; host of The Peter Schiff Show; and author of The Real Crash: America′s Coming Bankruptcy–How to Save Yourself and Your Country
Gerald Celente — ‘Gold standard won’t save US’
Steve Forbes is championing a return to a gold standard in five years time. Will that help the slumping American economy though? Gerald Celente of the Trends Research Institute says no. Forbes has flip-flopped on the issue before and his predictions regarding the price of oil never panned out. Today, it seems, like the only thing “good as gold” is the decline of the US dollar.
Ron Paul Puts Bernanke on Edge with Gold Question
Fresh from announcing his retirement from Congress, Rep. Ron Paul takes to another Fed hearing and puts Chairman Bernanke on edge on whether he believes Gold is considered money. Ben Bernanke says he doesn’t believe gold is money and it’s just tradition to hold it. Ron Paul asks why does the central bank hold gold then?
Alan Greenspan on Gold Standard
Alan Greenspan talks about monetary policy and the gold standard in an interview. His ideas sound similar to those of Ron Paul.
The Gold Standard in Theory and Myth (by Joseph Salerno)
The final lecture in a series of ten, presented at the “Austrian School of Economics: Revisionist History and Contemporary Theory” seminar, hosted by the Mises Institute. 06/10/2005