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In an interview on Stansberry Research on Thursday, Dutchman Willem Middelkoop and author of “The Big Reset” warned people to take their money out of the banks and that their “money is dying”. Central banks have lost all control on monetary policy and people should put their money into gold, Bitcoin or real estate, he said, far out of reach of the monetary system.
MiddelKoop, founder and CIO of the Commodity Discovery Fund, a fund that was initially set up to invest in gold and new mining operations of the commodity, already predicted in 2010 in his best-selling book, that crises would become a reality, such as energy, supply, migration and health crises.
Nevertheless, according to the CIO, the real “800-pound gorilla in the room” is what he calls the “super inflation crisis.” Severely impacting and evolving into a food crisis, Middelkoop cites the example of a Norwegian fertilizer producer who recently disclosed that the price of fertilizers has surged tenfold and that this will have an effect on food prices and supply eventually.
In the interview, the “Big Reset” author shares the anecdote of a befriended banker who has worked with the Dutch Central Bank for decades. The banker disclosed that the European Central Bank is currently facing a dead-end and is “trapped’. Due to the massive debt burden, the bank is not able to raise interest rates to combat inflation anymore. And this does not only go for the ECB, he said, ALL Central Banks across the globe face this issue, including the U.S. Federal Reserve.
For Middelkoop, the current situation where stocks, Bitcoin and real estate are consistently hitting new highs, is not a sign that we are getting richer and economies are doing well. It is largely the opposite as he explains it as a decrease in our purchasing power while our currencies debase.
“When stocks keep rising, the smart people understand the value of money is declining. But the masses still don’t get it.
It is a huge warning sign that money is dying.”
Pointing to the alternative inflation charts at Shadowstats.com, where inflation is tracked using the original government methodologies of the 1980s, and the 1990s. Middelkoop shows how the “super inflation” is already running at over 10% a year.
MiddelKoop says that central banks should “revalue” gold, similar to what they have done in the past and confirms that gold is a good hedge against inflation. Over the last 3,000 years the commodity has never lost its purchasing power.
However, the author says that Bitcoin is the new digital gold and that it is the and fastest horse in the race that you surely want to bet on.
“Gold is like an insurance for your net worth, but with Bitcoin you can become rich.”
Bitcoin can co-exist with gold, he continues and should not be considered a competing asset class. Nevertheless, Bitcoin and fiat are bound to go heads up at some point. There can only be one winner, he concludes.
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Author: Peter Siu