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Understanding Gold Price and the US Dollar: Insights from James Turk’s Presentation

James Turk’s presentation on the gold price and the US dollar

The speaker, David, is speaking at a DEG event in Munich and discusses the importance of owning gold and silver to protect assets during tough times. He presents a table showing the price of gold appreciation against major currencies over the past 10 years and explains that gold is money, not an investment. Gold is a sterile asset that generates wealth and protects wealth, while investments generate cash flow. The purchasing power of currencies is going down, and gold is undervalued, making it a good asset to accumulate and save. The speaker predicts that in the future, gold will be used to buy undervalued assets and ride the next boom bus cycle. He also presents a chart comparing crude oil prices against four different currencies, starting from January 1950 and using a base 100 analysis. The US dollar has lost purchasing power since 1950 from inflation, debasement, and other problems, and the British pound has lost more purchasing power than the euro and the Deutsche Mark since 2000. The chart shows that the US dollar’s purchasing power has been more important than the German Mark since the end of the Bretton Woods era in the early 2000s. Overall, the speaker emphasizes the need to understand the difference between currencies and their purchasing power and the current situation.

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