In this new chapter of Keiser Report, protagonists Max Keiser and Stacy Herbert criticize Donald Trump’s recognition of the leader of Venezuela’s National Assembly, Juan Guaidó, as interim president of the South American country after his self-proclamation: “It’s incredible that the U.S. doesn’t recognize the president of Venezuela, but rather a subordinate, in what is clearly an electoral meddling,” Max says.
In that line, he stresses: “If one day Putin arrived and said that Russia recognizes Nancy Pelosi – democratic leader within the House of Representatives – as president of the United States and not Donald Trump, the world would be indignant”. From her point of view, that American power “has this theory of exceptionality and that it is not obliged to comply with the law, because then it does what it wants”.
This edition also looks at the large gold purchases that took place last year: in 2018, central banks in several countries acquired more bullion than at any other time since 1971. In addition, the World Gold Council reports that on average governments added 651.5 tonnes to their coffers, an increase of 74% over 2017.
According to Max, this significant increase is directly related to the position of the US government: “What this massive purchase of gold by central banks shows is that they have realised that the US has lost its mind”. In turn, he predicts that when they run out of gold to buy, they will approach the bitcoin market.
He also points out that the main reason for the world’s interest in this shiny metal is that the current economic system “failed miserably”. On it, he summarizes: “The increase of the inequalities, the free fall in which many countries find themselves, the madness that the British are suffering with the Brexit or the insurrection that hovers over the US”. In addition, he stresses that the trend will increase in 2019, 2020 and 2021, “until gold is scarce”.
Several countries with major economies are preserving their capital in this way, a situation that would tip the balance across the globe: “I think Russia, China or Turkey, among others, are forcing the world to act in this way, in what could constitute an asymmetric monetary policy,” Stacy describes. Indeed, Moscow was the largest gold buyer and maintains its policy to ‘de-pain’ its reserves. The main attraction, they point out in Keiser Report, is that there is “no counterparty risk.