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The gold cost has actually been "adjusted" by reserve bank authorities, specifically, the Federal Book for years in a more comprehensive scheme to keep U.S. dollar supremacy in the international financial system, stated mining and also motion picture magnate Frank Giustra.
Giustra, who is the Chief Executive Officer of Fiore Group as well as likewise the owner of Lionsgate Amusement, had in the past claimed that the rate of gold was "taken care of" by reserve banks as well as bullion financial institutions. Currently, he is increasing down and also saying that the cost is "straight-out manipulated."
" It's been obvious that since the united state deserted gold in 1971, they have actually tried to suppress it to allow the U.S. buck to maintain its supremacy. That superiority is important in terms of your house rates of interest keeping them reduced, it's important to support rising cost of living assumptions, it's important for a whole lot of reasons," Giustra informed Michelle Makori, Editor-in-Chief of Kitco Information, keeping in mind that the world is presently engaged in a "economic battle"
Comply With Michelle Makori on Twitter: @MichelleMakori ()
Adhere To Kitco News on Twitter: @KitcoNewsNOW ()
Comply With Frank Giustra on Twitter: @Frank_Giustra ()
0:00 – Fed rate hike, economic overview
7:00 – Financial battle between countries
9:00 – China's gold books
13:00 – Bifurcated financial system
17:30 – International reserve bank gold books
21:43 – Gold cost adjustment
32:48 – Bitcoin vs. gold
44:52 – Ukraine and Russia
51:53 – Relations between United State and also China
#gold #FrankGiustra #Bitcoin
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Gold price is manipulated but price suppression won’t last forever, believes tycoon Frank Giustra
The gold price has been “manipulated” by central bank authorities, in particular, the Federal Reserve for decades in a broader scheme to maintain U.S. dollar supremacy in the global monetary system, said mining and movie mogul Frank Giustra.
Giustra, who is the CEO of Fiore Group and also the founder of Lionsgate Entertainment, had in the past said that the price of gold was “managed” by central banks and bullion banks. Now, he is doubling down and saying that the price is “outright manipulated.”
“It’s been no secret that since the U.S. abandoned gold in 1971, they’ve tried to suppress it to allow the U.S. dollar to maintain its supremacy. That supremacy is important in terms of your home interest rates keeping them low, it’s important to anchor inflation expectations, it’s important for a whole bunch of reasons,” Giustra told Michelle Makori, Editor-in-Chief of Kitco News, noting that the world is currently engaged in a "financial war"
Follow Michelle Makori on Twitter: @MichelleMakori (https://twitter.com/MichelleMakori)
Follow Kitco News on Twitter: @KitcoNewsNOW (https://twitter.com/KitcoNewsNOW)
Follow Frank Giustra on Twitter: @Frank_Giustra (https://twitter.com/Frank_Giustra)
0:00 - Fed rate hike, economic outlook
7:00 - Financial war between countries
9:00 - China’s gold reserves
13:00 - Bifurcated monetary system
17:30 - Global central bank gold reserves
21:43 - Gold price manipulation
32:48 - Bitcoin vs. gold
44:52 - Ukraine and Russia
51:53 - Relations between U.S. and China
#gold #FrankGiustra #Bitcoin
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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