Close Menu
    Oil, gas and mining

    Why Are Banks Buying Up All of the Gold?



    Dr. Peterson and Peter Schiff explore the significance of gold as a steadfast monetary anchor and the inevitable transience of fiat currencies.

    Watch the full video – https://www.youtube.com/watch?v=Bbi-_nn4zaw

    Dr. Peterson’s extensive catalog is available now on DailyWire+: https://utm.io/ueSFn

    // SUPPORT THIS CHANNEL //
    Premium Podcast – https://jordanbpeterson.supercast.com/
    Newsletter: https://linktr.ee/DrJordanBPeterson
    Donations: https://jordanbpeterson.com/donate

    // COURSES //
    Discovering Personality: https://jordanbpeterson.com/personality
    Self Authoring Suite: https://selfauthoring.com
    Understand Myself (personality test): https://understandmyself.com

    // BOOKS //
    Beyond Order: 12 More Rules for Life: https://jordanbpeterson.com/Beyond-Order
    12 Rules for Life: An Antidote to Chaos: https://jordanbpeterson.com/12-rules-…
    Maps of Meaning: The Architecture of Belief: https://jordanbpeterson.com/maps-of-m…

    // LINKS //
    Website: https://jordanbpeterson.com
    Events: https://jordanbpeterson.com/events
    Blog: https://jordanbpeterson.com/blog
    Podcast: https://jordanbpeterson.com/podcast

    // SOCIAL //
    Twitter: https://twitter.com/jordanbpeterson
    Instagram: https://instagram.com/jordan.b.peterson
    Facebook: https://facebook.com/drjordanpeterson

    #JordanPeterson #JordanBPeterson #DrJordanPeterson #DrJordanBPeterson #DailyWirePlus #podcast #news #gold #investing #stockmarket #inflation

    View 45 Comments

    45 Comments

    1. Dirtzman From yard on

      Jordan Peterson-some say Gold has no intrinsic value, Peter Schiff-it does because people said it did a long time ago and because now I can make a ring and teeth out of it 😂😂😂

    2. Rob on

      So if my employer pays me in Federal Reserve Notes, which are debt instruments, then why are we paying income taxes on a debt instrument? How can a debt instrument be income?

    3. G Wilson on

      Woah Bucko, the constitutional dollar is defined in silver. Get it right, only gold certificates were backed in gold unless you were a central bank.

    6. John Adams on

      Lies. Banks are buying up all the gold because they have sold each ounce of gold about 6 times over. How do you give 1 once of gold to 6 different people? These are the Pied Pipers who are marching you all into an abyss.

    7. Nelly Korda on

      You know it's quite a shame that some people don’t have substantial share in gold, it's a huge stab to your financial stability.
      Royal means investment has helped to secure a good portfolio and establishment in the market.

    8. Eloise Harbeson on

      I started stacking silver but beyond a certain point it gets bulky. Gave my silver to a niece that wanted to start stacking before Christmas and have stacked just gold since. Considering what it would take for me to redeem any, I won't complain if I never do.

    9. BudFox559 on

      The high price of gold is fiat currencies going down, but it is also the fed selling the index to shore up the stock market as a kind of buffer against volatility. It's amazing to watch on this scale.

    11. Nick Outram on

      Gold has a small number of properties that make it useful as a store of value. One of these is scarcity, its supply is expandable but only with the expenditure of energy, there is a certain cross-over with Bitcoin on this particular property. Obviously Bitcoin was not an option throughout the Millenia and there must have been many 'Bitcoin' style contenders during that time, Peter alludes to the (now dead) fiat currencies that have come and gone. The problem with all these contenders was that they are too easy to abuse but you cannot abuse a hard days work down the mine…

    12. Flat Earth on

      Why are banks buying up all the gold? Well, the golden rule is "He who has the gold makes the rules." Historically this is true, but all things eventually change. One day a large sophisticated crime squad like the FBI will investigate how they got all the gold. Then they will be arrested, charged and convicted for their crimes. All of their wealth, assets etc everything confiscated in order that the people then make the rules.

    13. keza on

      Because every human knows gold silver an copper is mans natural money since the bronze age till after ww2, simple really a return to the gold standard is inevitable goodbye usa dollar
      Historically the Australian pound was worth more than the British pound,America dollar and Australia produces 20 000 metric tonnes of gold per year if stockpiled for 10 years Australia will have 200 000 metric tonnes an we have a silver deposits that start at broken hill to past rochampton in north Queensland,if countries were smart they would have two currencies in circulation,one with a gram or two of gold in it with a base value of 100 to 200 dollars as a gold fortified reserve,then a trade currency fortified with silver an copper foil in it

    16. Cokie907 on

      Peter Schiff: Waking up the "dumb-masses" when it comes to finance, particularly the most misunderstood term in politics: INFLATION. 🙄

    17. Joshua Hankey on

      Gold has the advantage of not being easily inflated, but it is totally ridiculous to say gold is money. Gold is not money, it’s a metal that society has deemed acceptable to represent assets and resources. Money is simply a placeholder, a middle man, nothing is inherently “money”.

    19. Thomas Goebel on

      He's right about gold but wrong about Bitcoin, which he probably didn't spend any time understanding how it works and what problems it solves.

    20. Frederick Fred on

      The most important property of all commodity monies be they metals or minerals or crops .like gold silver gems salt hashish dates wheat barley is that they cannot be created from nothing. Like a promise to pay by a ruler or a ruling class of people….

    22. Makojuice Daniel on

      Bad time to buy gold cause its sky high. You are better off buying silver or something right now. Whatever you do don't buy gold you do not hold physically cause of you don't have it in your hand all you're left with are numbers on a screen.

    23. The Adventures of Kiwi on

      Ive only read parts of "The Wealth of Nations" and know nothing about economics and I feel like i can give a better answer regarding gold than what Schiff gave, goddamn it. The value of anything is not arbitrary but is relative and, the relative value of anything is a function of utility (which is itself relative but the only thing that can be said to be "inherent" and almost absolute), demand, and its "stock" or rarity's. If a meteor filled with gold hit the earth tomorrow and gold became as plentiful as granite or sand, it probably would still be more valuable than sand given its utility, but , it sure shitt wouldn't retain the value it does now. Right? Im pretty sure that how Adam Smith explained it right? lol…".Everybody knows that, goddamn boy". lol.

    24. sook kory on

      These are scary times for new investors but the best thing you can do is not to make decisions based on emotions. This could actually be a good time to buy more of your high conviction stocks or crypto on a discount. Wealth is created during bear markets, not bull markets. If your portfolio is really effecting your mental health then delete the app and go for a walk. Let the market do its thing and have a long time horizon. I buy and just trade long term more than ever, I have made over 22` btc from trading with Mrs. Debra Haycraft in few weeks this is one of the best medium to backup your assets in case it goes bearish. ….

    26. Pierre Roos on

      4:54 what is it about gold that makes it a proven store of value?

      It’s the energy required to mine it. Physical gold itself is proof of work. You can’t print more gold.

    30. Syafie Ismail on

      That's why the occupiers such as British, Spain, Portugal, Dutch occupied India, South East Asian, China stealing and looting gold. Heck even US looting Iraq gold asides from oil.

    32. Villiage_idiot on

      0:42 "there is an alternative to the dollar that doesn't involve another fiat currency and that's gold". People, please understand that we are NEVER going to have a legal tender that's backed by a scarce physical product. The people that own the central banks and your governments will make sure that never happens.
      Anyone remember the Hildabeast cackling over killing Gadhafi? Do you know why we killed him? It was because he was going to issue a gold-backed currency and arrange it so that Lybian oil would be traded using it. He was threatening the dollar, just like Sadam who was trading Iraqi oil for Euros instead of dollars, so we gave them both the Uncle Sam treatment.
      I'm not saying owning gold is a bad idea. It'll always be worth something, but you'll always get your paycheck and pay your rent/mortgage/car payment in fiat. Always. Most likely we're going to move to a CBDC, which will be a digital fiat, only this one will be able to track everything you ever do with it. The central banks AI algorithms will flag anything undesirable you might do. If you think Bank of America's reporting of customer data to the FBI without a warrant was bad, that will be orders of magnitude worse.

    34. Hafez Bd on

      Even if bond yields are increasing while stock prices are decreasing, the markets are still skeptical whether the Federal Reserve will stick to its goal to raise interest rates until inflation is under control. While I'm still debating whether to sell my $401k worth of equities, what is the best way to profit from the present down market?

    36. Roman Abramov on

      Peters wrong on this. It’s going to be bitcoin for the simple reason that there is a finite amount of it that can’t be created OR entrusted to a government or banking agency.

      The fact is that modern banks will just print more and than they have in gold. And they will do this because there will be no one to watch them.

    37. Joshua Birkhoff on

      Gold was in the past not so "useful". Not as good for weapons like iron. You can also make a silver ring out of a silver spoon years later. His arguments can not really explain the special worth of gold in a rational way. However, a lot of knowledge in this video. He explains what "backed up" means! Bye, bye $.

    38. EDWARD Xuereb on

      In brief: Gold is scarce, chemically inert, aesthetically pleasing, reworked easily, universally valued, and have modern technological special applications.

    39. June VanDerMark on

      When the economists don't agree with each other … it's foolhardy to take the words of one economist being interviewed by a psychologist, as being "right on the money."
      .

    41. WC Quick Author on

      Watch for energy to be traded in gold; oil, natural gas, electricity, water. On the local level we could gradually slip back to barter. Labor for food, trade eggs for bread. Civilization does collapse every now and then

    44. DIYDaveT on

      The reason gold is a store of wealth is that it takes labor and energy and equipment to get more of it. It's also useful in jewelry (unlike bitcoin) and has like 5000 years of history showing that it holds its value. Kings would hoard gold and silver for a reason – they were educated in these matters. Sure, gold has some intrinsic value in electronics and jewelry and even dentistry. But that's not really why people have confidence that it will hold its value. It's that 5000 years thing.

      Remember, gold has been money on every single continent since the beginning of time. It's not like the Chinese decided gold was money and then it caught on in Europe and the Americas. NO! When the conquistadors came to the new world, they did not come to farm or manufacture. They came to raid. And what was it they wanted? GOLD. Is anyone besides me a bit shocked that n. and s. Americans thought gold and silver were precious metals and a store of value even though the Incas and Aztecs never had any dealings with Europe or Asia before the conquistador raiders arrived? What are the odds that this should be the case for every single continent on the planet. It's like someone told everyone that precious metals had value. The Incas and Aztecs loved silver but they did not know it was the most conductive metal. They did not hoard it for its industrial properties. They hoarded it because they thought it had intrinsic value.

      Only a fool thinks that unbacked currency has any intrinsic value. It's just another elitist government scam.

    45. Andre L on

      Obviously gold is the perfect store of value. There is no safety in crypto or fiat. When you own crypto you own it digitally which is secured by your tech and internet, without it how are you going to retrieve or use it? We are far away from a secure technological world. Our fiat is a manipulated value, obviously that’s why the fed came to exist so they can control our “monetary policy”lol, once upon a time we could buy gas with cents and now we have to pay with 100 bills.
      A 100 year old house in cali is over a million dollars, why is that?
      Value of gold cannot be manipulated, it cannot be destroyed or tampered with.
      Gold has a psychological effect on us that brings the essence of success and ownership of precious value. It’s attractive, heavy, shiny, indestructible and mysterious ( hence the word gods money). People thru out history have been killed for this stuff. Gold is bank amongst any creation of monetary value and has given us a healthy inflation/deflation, that’s why America thrives in the labor market after the war. holding it physically?no one can manipulate that. Hold a 100 dollar bill long enough? one day it’s worth nothing, forget crypto, you can lick your screen all day and pretend it’s yours but until E.T shows up and we live in space than perhaps I would see how a digital currency would help, but even then I would love to hold gold.

      Our ancestors were smart and there is a reason why Gold has had such an effect for so many years, if we wanted a fiat currency they would have already made it thousands of years ago if it WORKED and it would have worked if we were an honest society but when is that going to happen?

      If there is one thing everyone should understand in regards to this is the Gresham law. To all of you who don’t care for investing in gold just ask yourself honestly, if you had a gold coin and $2000 in fiat paper bill, which one would you use first to pay with it? I believe that answer is quite simple.

      Sure it doesn’t make the world go around right now, it doesn’t produce food and housing the way money should fluctuate but In today’s society it is a safe heaven against the fraudulent system we live in, I mean don’t have everything in gold but maybe like 20%- 35% max in gold assets to protect yourselves.

      If a recession happens then we are going to need a backup. I love crypto but there is no way I will treat that as a safe heaven, you use it to make money and crypto is valued the same way we value fiat and gold, so choose wisely what you call money.

    Leave A Reply
    Share via