(Kitco News, Fri. June 3rd, 2022) – – Gold is a safe bet as food shortages, inflation, and geopolitical turmoil rile the global economy, according to Robert Moriarty, Founder of 321gold.com.
“Gold is an insurance policy against government stupidity,” he said. “… Gold never changes its value.”
Moriarty spoke with David Lin, Anchor and Producer at Kitco News.
When asked why an investor should consider gold, Moriarty responded, “Because the alternatives are far worse.” He referenced the selloffs in stocks and cryptocurrencies.
‘Government stupidity’
Moriarty said that the fact that the United States has been in ‘constant warfare for the last twenty-two years’ highlights deeper problems. “The United States spent $2.3 trillion in Afghanistan and we couldn’t even manage the pullout without looking stupid,” he opined. “… Every empire ends when they get involved with military adventurism.”
Moriarty, who is also a Vietnam War veteran, also offered his analysis of the Ukraine conflict.
“The United States is doing nothing to end the Ukraine war, and everything to prolong it,” he said. “… When all you’re trying to do is use up weapons, the military-industrial complex loves it, but it’s war, and people get killed.”
Global ‘slavery’
Moriarty said that the Russia-Ukraine conflict, and tensions between Taiwan and China, are a distraction from a more serious problem.
“The real battle is going on right now between good and evil,” he remarked. “And it’s between the World Economic Forum and people who desire freedom.”
The World Economic Forum (WEF) is an NGO started in 1971 by Klaus Schwab, a German scientist. It brings together political and economic leaders to discuss global issues.
Recently, the WEF has endorsed a ‘Great Reset’ agenda. Moriarty is concerned that the Great Reset’s proposals would crush human rights.
“[The WEF is] talking about, by 2030, you will own nothing, and you will owe nothing, and you will be happy,” said Moriarty. “Well that happens to be the definition of slavery… Believe it or not, Putin, along with Trudeau, Macron, and the woman who runs New Zealand are all part of the 2,800 Young Global Leaders run by Klaus Schwab.”
The WEF’s Young Global Leaders’ program is a mentorship program created by Klaus Schwab. Prominent graduates include Angela Merkel, Tony Blair, and Elon Musk.
Moriarty also suggested that the WEF wants to roll out a ‘social credit’ system globally. China already has a social credit system, which rewards and punishes its citizens based on their behavior.
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Cryptocurrencies
Moriarty is skeptical of cryptocurrencies and has previously compared Bitcoin to ‘tulip bulbs’ and ‘Florida real estate.’
“I happen to be exceptionally negative on cryptocurrencies,” he said. “There are 10,000 cryptocurrencies. None of them are going to work.”
He also suggested that Central Bank Digital Currencies (CBDCs) would not work out.
“It’s a popular theme now to believe that governments are going to Central Bank Digital Currencies, but I don’t believe so,” he opined. “It’s a solution for a problem that does not exist. Gold currencies have always worked. They’re a solution, they’re not a problem.”
Posted by:
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com