Wealthion, Released on 1/11/22
With the recent dramatic expansion of world currency supply and high inflation now eating away at the purchasing power of our money, is hyperinflation – true currency destruction – a possible risk in the future? The world’s major central banks have increased the global currency supply by nearly 50% since the pandemic hit less than 2 years ago. Add in the additional trillions of dollars worth of fiscal stimulus issued recently by national legislatures around the world, and it’s little surprise that price inflation is now raging. In short, our currency is losing its purchasing power at an alarming rate. So in this video, we talk with sound money advocate James Turk, the founder of GoldMoney, to understand exactly what’s going on. How much worse is this loss of purchasing power likely to get? What can history tell us to expect from here?
James Turk has specialized in international banking, finance and investments since graduating in 1969 from George Washington University with a B.A. degree in International Economics. His career began at Chase Manhattan Bank (now JPMorgan Chase & Co.), which included assignments in Thailand, the Philippines and Hong Kong. He subsequently joined the investment and trading company of a prominent precious metals trader based in Greenwich, Connecticut. He moved to the United Arab Emirates in December 1983 to be appointed Manager of the Commodity Department of the Abu Dhabi Investment Authority, a position he held until resigning in 1987. Thereafter he held various advisory roles in money management until founding GoldMoney, which was launched in 2001. He is the co-author of The Collapse of the Dollar and How to Profit from It & The Money Bubble. His latest book is Money and Liberty.