Gold Research Videos

James Turk, Peter Boehringer of DEG and Bill Murphy of GATA take questions from the audience in Munich Hofbräuhaus about gold, silver, the Euro, the US Dollar, the Swiss Franc and the economic future. They talk about the gold price, central bank policy and price manipulation. The explain the importance of sound, free market money to human liberty and how central banking and centrally planned fiat currencies are doomed to fail.

They talk about the troubling economic scenario ahead and how a dollar collapse will affect all other currencies. James uses Argentina as a model because it was a deposit currency hyperinflation, unlike Weimar Germany’s paper currency hyperinflation.

James Turk does not expect the Euro to survive unless it is converted into a sound currency. He talks about the Deutsche Mark and the growing discontent with fiat currencies. The bailouts of Greece, Ireland and Portugal will not be the last chapter in the Euro crisis. If the dollar falls, all currencies that have dollars backing them will fall too.

James Turk also comments on the influence that the Austrian school of economics, particularly Ludwig von Mises, has had on his economic understanding. Despite studying economic history, he had to hear about it after his studies. Even today the Austrian school is marginalized in most university study programs despite being the source of Marginal Utility (Menger), business cycle theory, capital theory and having the best understanding of monetary theory. He praises popularizers of the Austrian School such as Ron Paul and mises.org.

James explains the waterfall decline of the US dollar and how the first knee-jerk reaction will be into other currencies until central banks intervene, continuing competitive devaluations will show investors that gold and silver are the only safehaven.

He goes on to explain why the Swiss Franc, despite its traditions, is now as mismanaged as other major currencies and how gold is rising against the CHF too. Since the Swiss Franc abandoned its gold backing to join the IMF in 1999, as Ferdinand Lips explains in his book 'Gold Wars', it is no longer managed as a hard currency. The SNB would rather be part of the club and collaborate with other central banks than make a stand against currency devaluation.

The conference was held on 29 April 2011 in Munich, Germany.