Understanding Gold

[@mimaroo1431]

I need to watch this video every few months, just as a refresher.

[@belangp]

Glad you are finding value in the video :)

[@mimaroo1431]

belangp Just watched it again 😊

[@wkb9683]

So do I.

[@williammercer6074]

So do I keeps you strong

[@morrismonet3554]

I just watched it again after all these years. Bought 2 more ounces just before I did, too. LOL

[@markakin3742]

I keep coming back to this video like every six months or so.. As my collection and understanding increase I come watch it again. Word for word , Mr. P is up there with the best, thank you..

[@belangp]

+Mark Akin I'm really glad you like this video and I'm glad you are internalizing the message. Gold has lots of apparent ups and downs, but its power is in the long term disciplined accumulation.

[@dedoet1]

Belangp, seriously, you have helped me so much over the years, I've watched almost all your videos. Many more than once. You're having a hard time right now, you shared that in your latest video, thank you for that. You are very brave for having shared your pain. Now that this community is aware of this, we (unknowingly to most) are in the process of taking care of you like you have done with us for so many years. That's the fun part of life.....sharing 😊 You're a generous person

[@belangp]

Thanks Diederik. The sentiment warms my heart. I'm really grateful for people like you.

[@jimkidwell1531]

i leave enough paper in the bank to pay my debts, as thats how they perfered to be paid. the excess is taken out of the bank and kept in gold/silver instead of paper.

[@reiroig2697]

jim kidwell I. DO. THE. SAME. GREAT. MOVE. ⚡. 🌟. 🌎. 🍍. 🌴. 👍. 👑

[@wkb9683]

You are a very smart guy.

[@mp211204]

jim kidwell exactly

[@gblargg]

Be your own bank, amen.

[@the_real_economics]

That is the best approach one should take. If you do not want to invest, if you are able to have excess money and save it, you put it in gold - real money. FIAT should be used only for lets say operating expenses, or when you need to do a transaction in FIAT, just for transactions, nothing more.

[@wkb9683]

65% gold 15% silver 10% stocks 10% cash. That is my ratio that has worked out well for me.

[@olegpetelevitch4443]

Me too !

[@jaydee5447]

Heavy ratio of gold, good for you...I got a later start so I’m working on my Au acquisitions now...since this is anonymous I’d be curious what the numbers are to your ratios. More importantly what type of gold do you collect? Numismatic? Just bullion? And what are your thoughts about the difference between Eagles and Buffalos?

[@triple9finestacker631]

@@jaydee5447 eagles have a small percentage of copper mixed in for hardness, buffalos are pure four 9's fine, 24k gold, eagles are 22k gold. Both great investments and both trade around the same price. I personally like the kruggerand, they too are 22k gold with copper mixed in. Currently i have 2 krugs and 1 buffalo. I like to keep more silver than gold, because that is currently what i have, although, i am saving to protect more of my money into gold, because gold is a safe way of storing your wealth. Gold will always carry value as it has for thousands of years been used as a medium of exchange. The markets are showing favor toward gold right now, currently up over 1700 an ounce, and silver is slowly climbing as well.

[@TemplarsCreed]

80% Gold and 20% cash would have worked out better ;)

[@CosmicSeeker69]

​@@TemplarsCreedcash is trash

[@kyleernst328]

I have been in gold since 1999. I love confirmation, thank you so much. I think now we are going to see an over all deflation across the board with the drastic move down recently in gold and silver. Wages will stagnant then a hyper inflationary period will begin. Now is a great time to buy back our time. Again, thank you so much for your excellent analysis.

[@belangp]

You're welcome. I think you're right. I also think that we are approaching a time when price signals will be misleading.

[@salomenghoshi7502]

Hi.. I'm from Namibia. And would like to introduce the Gold business here. Please write to me [e-mail]

[@codymiller8505]

It seems this comment has aged quite well.

[@LibaaxTopG]

I wish I watched this video at least 7 years ago.

[@justice1841]

Where can I get more information about monetary history, the truth about real money and forums I’d like to dive into all and surround myself around like minded sovereign individuals

[@jackgoldman1]

Get an education. Get a skill. Make money and build the estate. When I get a million "dollar" net worth I can coast. Decide what I want to have my estate look like. I want my estate to be balanced, 50% reality based, real estate and ounces of metal, and the other half in paper, but no more than half. I need to be balanced. The future is unknown and unknowable. I have to protect myself by studying history and knowing probabilities of future outcomes. Chance of death, 100%. Health, love, and money are the three variables for Earthly happiness. Peace is the fourth asset people seek. Peace exists behind the eyes. I will get old, weak, sick, and die. Gold has history of protecting stored labor. Gold is a whole life insurance policy that never expires, passed on to my children. This website is the finest explanation of what function gold holds and it's relationship to life. Paul, thanks for all you have done. Excellent job.

[@qstunrr]

jackgoldman1 Exceptionally how I feel. Spot on (and I've only just got my early 20's 🤣

[@Journeyman-Fixit]

I have bought gold recently, that is what made me come to this video. Great video - thanks!

[@belangp]

+Journeyman welcome to the channel!

[@mysterybuyer3738]

I watch this video over and over about every three months. It's the best video about gold I have seen.

[@belangp]

I'm glad you like it. I do think it's one of my better works.

[@bobgroth5985]

You are awesome. I spend 25 plus percent of my income on precious metal and I feel very secure in my future the price fluctuation to the down side is exciting to me it means I get more metal from my debt based dollar

[@belangp]

I appreciate your compliment. I do the same, I save more than a quarter of my income every month and a considerable fraction of that is converted into real wealth.

[@gypsysoul1245]

It's been 8 years now, how has everything worked out so far?

[@belangp]

For those concerned about the price drop this week this might provide some perspective.

[@777luch]

I saw this video several times. NEVER gets old! Thanks for reminding some people. Lol!

[@clausgodstedgrn9457]

I see it often actually... belangp, you bring it to another level and I´m happy to gaze from your perspektive a couple of times a year!.-) with gratitude from DK Claus

[@clausgodstedgrn9457]

gold to oil ratio is still at app. 20 in euros.. so I have paid down on my morgage instead of buying more gold this time:) I´m very happy for the tools(to understand gold and investing)) you have given me in your videos!:-)

[@mimaroo1431]

I have watched this video multiple times. It is a good refresher course, to look at it every few months.

[@donnies2314]

+belangp Thank you for the great analogy between soon to low value currency VS gold. I couldn't find a simple explanation of it , that I could really understand; Without a banker ,lawyer ,or English degree . Also came across info u s government is trying to shut collector coin and gold/ silver brokers down . I am Canadian and I hope t hope our Canadian government doesn't turn on it's citizens as the current. dictatorship police state ,leader new worl d orde r agend a Elites.! I hope people in America see and push back hard before .and IF ,it it is not to late !Germany 1939 IS knocking at the door of all americans . Hope they lookup and see and spread the truth to all there loved ones on time to stop the massacre of humans rights of the countries citizens . PEASE America ! DEFEND Your Constitution and it's rights. You are the last ones standing ! Congratulations! ONCE IT'S GONE.IT IS TOO LATE ! God Luck !

[@LD_Tush]

Great video. Years later and still spot on. Always will be.

[@leonmathews4598]

Thank you for the informative video, I have been told many times over the past 25 years to purchase gold but never did, however a few of of my friends who did listen to the message have paid there mortgages off already because they acted upon it. Many of the the nay sayers of not investing and storing Gold like I was have allowed ourselves to get caught up in the microwave society of got to have it now today's thinking. Many of today's western world citizens do not understand what a war or international sanctions does to a country and the decline in their monetry buying power because it is not on their doorstep. I suggest be prepared by having Gold in reserve rather than suffering the consequences of not being able to provide for your family in the event of a economic problem. It is now time to bring the power and responsibilty of wealth back to the individual not just to the corporations. Let's change the world even if it is 1 gram at a time.

[@Searching4Silver2]

And now it's come true and only going to get worse from here

[@areyouready22]

Excellent video....thanks for sharing.

[@gregsmith1116]

You are on the right track and the longer the masses do not know these facts not only does it astound me, it encourages me to get the nonperishable precious metals at lower prices before everyone figures it out!

[@belangp]

Better to be in gold than in dollars.

[@Puppyplay1]

Good lesson. Thx. The most important statement you may have made was, "if purchased at a time when not over valued". Unfortunately, many have jumped in to PM's during the last few years, a time when it was likely over valued. I have been stacking for decades and I believe that there are many that have been lead to believe by some of the slick sales people making videos (Maloney, Sprott, Kiosaki and others) that silver and gold are undervalued by unrealistic multiples. My advice, especially to the young and those with modest means is to understand that it is not always a good time to buy, as there are certainly periods when both gold and silver have been over valued and have not kept up as a hedge against inflation. Stay within your means everybody!

[@belangp]

MPB131 A very good comment. Thank you for posting it.

[@mynamesvlad]

I know it has been 4 years since you had written that comment, but, what levels do you think reasonable to enter physical gold in terms of USD as of now? P.S Spot gold is at about $1320 right now.

[@CosmicSeeker69]

@@mynamesvlad I hope you did (enter) because soon it won't be about how many unpayable units of debt it is per Oz- It'll be - there isn't any available

[@stevezelev7008]

@@mynamesvlad, The price of gold is at a 300 year low. See the video of Mike Maloney below. While you should watch the entire video (several times) the answer to the current VALUE gold represents can be found at the 1 hour 20 min mark. kzbin.info/www/bejne/aXfLdZptYpWgo7c

[@TheDnaitsirc]

These comments aged well

[@jennc8554]

Your one of the best speakers on the subject I cannot believe your not putting out a video in these times we are in now.hope all is well for you and yours.

[@belangp]

Thanks Jenn. I just put one up yesterday :)

[@jennc8554]

belangp thanks already seen it thank you thank you your one of the greatest voices on you tube.stay well❤️

[@belangp]

@@jennc8554 Wow. I really don't deserve that kind of praise, but I can't tell you how much your words have lifted my spirits. Thank you.

[@jennc8554]

belangp the love and support of this community for you is like no other rise and shine and please stay with us.god bless.

[@intrinsicgoldhoarder4327]

truly outstanding :) i been learning the meaning of gold and wealth its a difficult concept. and it very difficult to stop measuring wealth in dollars but once it make sense its easy to understand MONEY, and WEALTH accumulation :) thanks you for sharing your wealth of wisdom thank you for making a difference

[@belangp]

Thank you for commenting. I hope this video did, in fact, make a difference.

[@intrinsicgoldhoarder4327]

belangp I re-watch the vid, and i learn something correct me if im wrong so GOLD/Money has a constant value relative to the goods we need that we can't store with time or other items being too bulky, but gold or silver is compact wealth and durable to withstand time that someone will always want or has a history or saline point for people to value goods at. not only that gold or silver is so consistent that we can actually plan out our future needs thus giving people freedom to live a more meaningful life/ not stress out so that people can live a more healthier life and most of all find balance throughout the journey we call life beacuase you already know that gold/silver will be there when you need it because it is constant and it makes planning much easier!!!! please correct me if im wrong on this concept, it hard to explain but hopefully im on the right path. GOLD and Silver has been battle tested to be constant throughout history. PS: price in dollar its a form of accounting... to make transaction much easier for commerce :) thats my thought on price

[@belangp]

Yes, you got it. Many westerners believe that gold has no value because it has no use. They fail to see that store of wealth is gold's highest use. That's why so many of the world's truly wealthy and so many in the east treasure it.

[@intrinsicgoldhoarder4327]

belangp thank you, it so weird thinking this way but it makes sense though, being a student of gold and money has giving me so much wisdom into accumulation of wealth.

[@koksionglee7978]

Excellent piece, enjoyed listening to your explanation and unconventional thought process.

[@capitalistpig10]

Thank you for the video! I never really understood gold until the last 3 years. I know now what fiat and real money is. I always recommend your videos to everyone and glad that your a real wealth to this community!

[@belangp]

Thanks capitalistpig10 . I wish you success in your wealth accumulation phase. It's very difficult these days to understand the nature of gold. I think you get it, and that knowledge will serve you well.

[@capitalistpig10]

It's always been around us we have just lost touch with real money. This is the only thing that scares me, that people Have lost knowledge of what money is. We have been sheep for years and have been forced to play the system but there is a way out. I always keep in mind of what J.P Morgan said. Gold is money, everything else is credit! A founder of the fed reserve is telling us what money is, and so are you! Thank you!

[@sanpedrosilver]

Listened to that interview earlier today during my daily walk. Good stuff ! Another great video, thanks!

[@Haateru]

Your thought experiments are great and very clear. "Unpayable Units of Debt" fascinates me and so I am always looking for a good presentation on what, exactly, "money" is. Thanks.

[@belangp]

It's a difficult concept. Once you understand the nature of money you will be on the path to accumulating wealth and holding on to it.

[@Flipper83]

Its in our collective consciousness most people see the value but dont understand it , this video is just perfect ! Greetings from Holland !

[@nikkir1664]

A very interesting philosophy. Thanks for sharing, it was a pleasure to listen.

[@belangp]

***** I'm glad you liked it. I added you to my distribution list for future videos in case you'd like to watch upcoming videos. One was just released.

[@NOTAPOLITECANADIAN]

A great video. it helps enforce some of the lessons you try to get across in your other videos. I found it helpful. Thanks.

[@belangp]

I'm glad it was helpful.

[@str8up8100]

Ben Bernanke and Janet Yellen disliked this video.

[@silverturd4421]

Yes you are right, yet Alan Greenspan does like this video!

[@belangp]

That's funny! I've always wondered who the two consistent thumbs down were.

[@silverturd4421]

Haha-that's good stuff!

[@robertjackson3929]

str8up8100 Stoopid! Lol

[@wkb9683]

Yup

[@silverman88cornell95]

I love all videos ive seen so far. thanks you for the information

[@belangp]

+Silverman88 Cornell you're very welcome.

[@dellrugby]

For sure one of the best vids of 2014

[@belangp]

Dellrugby PM Glad you liked it :)

[@geggs1]

Brilliant belangp. Much appreciation for what you are doing here on KZbin. I truly mean it. Thank you!

[@belangp]

Thanks. I'm glad this video was useful to you.

[@FrugalLife]

As always.. belangp.. the light that guides us through the storm :-) Great vid.. The only time i think about gold and paper money together is when i'm buying.. The more gold i can get for my paper the better.. But once i have it i don't think of it as losing or gaining value in paper terms

[@belangp]

That's good. Once it's put away value it in terms of what it will buy :)

[@jonanderson6882]

I am not going to comment on how excellent that vid was. Instead lets all take a step back and marvel at how humble the maker seems to be.

[@belangp]

Thanks. I hope the video was useful.

[@freesk8]

If someone has great ability, great intelligence, or great wisdom, then humility is hypocrisy. If they do not have any of these qualities, then humility is an admission that they are not worth listening to. I do not understand why people value humility.

[@jonanderson6882]

freesk8 I would suggest that the opposite of humility is arrogance. Arrogance has an element of vanity, it could leave person blind to new ideas. We may have a semantic disagreement here, but I have heard that a person should let others exhale them. Do not exhalt oneself or you suffer jealously from others. Good day.

[@freesk8]

Jon Anderson You make a good point. Perhaps we need a Hegalian dialectic, you know: thesis, antithesis then synthesis. My thesis was that humility is hypocrisy. Your thesis is that arrogance is vanity. Perhaps we need some middle path, some golden mean between hypocrisy and arrogance...

[@jar300zx]

Thank you belangp for the great videos and for shearing your understanding on gold it very educational .

[@belangp]

JOHN CHARLIE SILVER You're very welcome!

[@cw1967]

I like your videos, they are logical, sensible and historically accurate.

[@belangp]

thanks

[@valuepig]

enjoyed this video explaining the concept of value vs price. thank you.

[@belangp]

Glad it was helpful!

[@sodthong]

This is a fantastic video.

[@PhilipLismore]

Always well thought out cogent discussions.

[@belangp]

Philip Most of the subscribers here are very polite and intelligent. We are truly a blessed community here.

[@jerseyrider4369]

Video watched in March 2121 and made my day!!!! Great job!

[@Dagobert1234]

Thanks for uploading, some complete new insides about money and currency and how to develop a proper saving strategy for the future.

[@thepitbullfather9725]

I’m extremely late to the conversation, I have to say this is a great reminder to us all in our small circle that we should always stay focused on why we started stacking and not let the words and views on life distract us!

[@belangp]

Welcome to the channel. I hope you like what you find here :)

[@iamgogi]

Very good video, nice to hear! In my area, a gallon of Horizon organic milk is $8.19. I wish milk was around $3.

[@belangp]

Yep. I didn't focus on organic. We buy organic and it costs us $6/gal. Worth every penny.

[@Calventius]

That was so ------- good! brilliant! timeless! Almost a glimpse of the devine! Am subscribing now.

[@wkb9683]

I have sent this video to everyone of my friends and family. Some loved it however some are still blind.

[@belangp]

Thanks for doing so. I think this is one of my better ones.

[@TheBruces56]

Good points. I like to use the example that in 1900 you could go to a tailor and with a $50 gold coin buy a high end men's suit. That same coin will buy the same suit today.

[@HerrCotton]

What a great skill of explanation! Kudos to you, BRAVO!

[@belangp]

i'm glad you liked it. i consider that video to be one of my better works.

[@HerrCotton]

Well, having been recommended by Mike Maloney in a couple of his videos made me come to you, and he pointed to you rightfully so. Both of you know how to transfer knowledge like true orators!

[@belangp]

well thank you very much. I appreciate it. I wasn't aware that he mentioned my work more than once. I'll have to look out for that

[@HerrCotton]

No, thank YOU! you are the one providing the value!

[@belangp]

you might like this one... kzbin.info/www/bejne/j5Oudqp3jdqcj68

[@packinandstackin4532]

300oz of gold, you must make a lot of money, I was pumped up that i just hit 12 OZ gold

[@dsn1964]

😂😂

[@gblargg]

The 300 oz target in the video was a person's savings over their entire career.

[@LibaaxTopG]

Gold was cheaper a few decades ago.

[@mrmc2465]

@@LibaaxTopG the dollar was stronger a few decades ago

[@CosmicSeeker69]

@@LibaaxTopG you missed the point - it wasn't in terms of VALUE - Only $'s

[@KennyG233]

Gold and silver is the one world currency ,always been here.

[@joneriligan6020]

How much the value of canada gold coin 1867 the maple leaf la Guillen d'erable sir...I. have 4 pcs gold coin 1 pc quebec1867,1pc yukon territory fireweed,1pc mountain avens gold coin.

[@dagda825]

I look at it this way: what is my one and only true asset? my time. Gold and silver are exchanges of my one and only asset that do not fluctuate with the other debt obligations. When I spend an hour of my time, I solidify that exchange into a money that will continue to represent my time regardless of the fluctuations of the unsecured debt load. Hence I trade all available debt into gold and silver.

[@belangp]

+dagda825 that's a good way to look at it. Just make sure you have some balance. You do need to have some cash equivalents too. That way when a large unexpected expense comes up it won't require you to liquidate gold or silver at an inconvenient time.

[@SoapinTrucker]

Gold doesn't go up, or down, the "dollar' does.

[@Cromper]

Commodities such as gold and oil dictate how much a currency is worth. Supply and demand are key when it comes to currencies. The problem with the USD (US Dollar) is that it no longer has parity with commodity values.

[@brysonb100]

Magnificent instruction. Keep up the good work!

[@belangp]

Thanks. Glad you liked it!

[@helinick81]

and that is exactly why i buy gold as my grandfather said to me" back in 1930s i could walk into a tailor in London and have him make me a nice tailor made suit for 1oz of gold... well same applies today in 2016" and it always has done in history.

[@belangp]

+helinick81 exactly

[@Discoworx]

Mike Maloney uses that as a pointer to gold being undervalued. The time value in goods (that suit) today is much less than in years gone by yet still costs 1oz.

[@solomons5669]

Man I wished everything was in gold like back in the days

[@playerzero2236]

Actually it's more like 2 or 3 suits these days, but he's not wrong ;-)

[@LifeAntThomas]

Peter Schiff says gold is poised for a big year. This is exactly why I decided to move a good chunk of my retirement to gold, just like Peter recommends. As a financial thought leader, he should know better than any of us that its a good time to get in. I used Gramercy Gold to buy mine because I got a really good price. I think the stock market is going to push gold prices higher as soon as this year. Its already up like 5%. Compare that to stocks ready to drop from all time highs.

[@carnagie85]

I really appreciate this channel, thank you.

[@silverhairstacker8664]

Great video man! I so appreciate how you present the facts of Precious Metal's value. I find my goals shifting now to helping future generations of my family. I have and have had my little slice of pie on this earth, but how to continue the progress to my sons and their futures? I am finding that gift tax and inheritance tax would take a large portion of what I would leave to future generations. Physical silver and gold passing tax free to my children and their children seems a prudent choice! I would love to see a video done by you expressing the value of PMs in a generational passing of wealth! And when you do I hope the young stackers out there will pay attention! Good Luck and God Bless!

[@belangp]

silverhair stacker Creating a legacy is a wonderful way to show your children how much you love them. Kudos!

[@steveflemmi651]

You guys are crazy, you just like collecting gay little coins with dragons and goats on them. Grow up. You might as well invest in comic books and baseball cards. In fact, baseball cards have been a better investment than gold over the past 20 years. I wouldn't risk my retirement on something with a bear or dragon on no matter how nice and shinny it looks. Sure, its much nicer to hold a gold coin in your hand rather than invest in a mutual fund on apiece of paper. Grow up. If 10 year ago, I buy 50 oz of gold @ 1500/oz for a total investment of $75,000 and planning to buy a $75,000 condo for retirement? Now, gold is at $1,2000 so my $75,000 is now worth $60,000 and that $75,000 condo has increase in cost $100,000.. Seems to me I am now $40,000 in the red and cant buy the condo I wanted. If I had purchased mutual funds, my original $75,000 would be worth $100,000. How can you possibly disagree???? Please explain this to me.

[@silverhairstacker8664]

Steve, First, maybe you could actually take a few classes and learn how to spell and write the English language. Second, watch and learn all that belangp has in his videos. Third, after you watch and learn from all he is showing, how could you possibly disagree??? Now my question to you is what possible difference does it make to you what I do with my investments? Are you just trying to antagonize me, because that would make your argument worthless. The only other reason I could think why you would comment as you have would be that you have my best interests at heart. I doubt the latter. Good Luck and God Bless!

[@belangp]

Steve Flemmi If you truly would like to know the reason, find someone who lives in Russia currently, someone who has some gold coins. It doesn't matter what image is on those coins. Ask that Russian his or her thoughts on the subject. I will not try to convince you one way or the other because your mind is already made up.

[@steveflemmi651]

silverhair stacker Settle down Francis. Ill have plenty of money for that class after I make a fortune shorting gold down to $600/oz

[@MapleLeaf2020]

Another excellent video that encourages me that I have not made a mistake by buying PMs instead of retirement fund. Thank you, belangp.

[@belangp]

No harm in doing both, but gold is good provided you can gradually accumulate it over the long term and not get chased out of it when price declines. Funny how gold used to be considered the safest thing you could own back when it was considered the money of the land. Now the safest thing is a piece of paper backed by nothing.

[@gerrykelly-zk6lf]

Your video was one of the reasons I started stacking gold/silver. I also started doing a lot of reading into the history of money, central banks, fractional reserve banking, deficit spending and the large family named banks and how their debt game is played etc. I'm actually very worried now and while I believe stacking gold/silver is a no brainer, I think it would be naive for any of us to hope we can insulate ourselves from the power of these currency/debt creatures. Our only hope is that we the stacking community stay so small as not to be perceived as a threat to their interests. In the age of instant information, more and more people are becoming aware of how money is created and the fiat inflation debt spiral we are all condemned to. At some point TPTB will close the door to citizens buying gold/silver, I will worry about that then, but I definitely want to have accumulated as much gold/silver as I can now before they change the rules of money/currency yet again for their benefit. I fear for old retired people on fixed income pensions😱 I don't invest in gold, I save my wealth in gold. Thank you 👍

[@belangp]

good comment

[@reznov128]

Hey really cool comment, what books would you recommend to read from what you mentioned?

[@hashglass]

gold to me is a great way to save! thats all

[@cw1967]

It is these days the only way to save and see a steady incremental increase against inflation. I see gold and fiat on a pair of scales on opposite sides. As fiat purchase power improves gold price reduces and visa versa, but either it retains its relative purchase power against fiat with the benefit of increasing its value to hedge against inflation. What's not to like?

[@gregfinney3155]

That was very interesting. Thank you for putting time into this.

[@belangp]

Greg Finney You're very wolcome :)

[@marksletters]

i think this is possibly my most favorite belangp vid.....i for sure, have watched it more times, than any other video, on youtube !!

[@dwdelve]

Thanks Paul, googled what give gold it value and was led here by the algorithms.... not surprised

[@GoldIRA]

"Those who fret in the decline of the gold price, don't really understand gold." I love that quote! Although I've been studying gold for some time now, I haven't been aware of Ian McAvity until now. Thanks for sharing your knowledge and philosophy on gold, the economy and society. Very inspiring for anyone to go out and "keep stacking"! :)

[@belangp]

Gold IRA Rollover Guy You're very welcome. Welcome to the channel.

[@reznov128]

Hi Paul, you just got a new subscriber! Amazing and concise content, thank you for being so informative and authentic! What books would you recommend for everything in favour of gold?

[@belangp]

Hi. Thanks. A couple of books I'd recommend are "The Golden Constant" and "The Power of Gold". I'd also recommend reading "The Guide", which is a publication of the LBMA. "The Theory of Money and Credit" is also a must read.

[@todaysnarrative879]

yup, now is the time to be buying

[@dsn1964]

I don't 'fret' the drop in gold price so much as I welcome it and buy even more........👍

[@belangp]

exactly. me too :)

[@DuncanL7979]

I find precious metals are psychologically the easiest asset to hold through volatile periods. Sometimes when I am down in my trading account I can feel an emotional 'tilting' come over me which never happens with gold. I just go look at my stack and I see the same number of oz are there.

[@belangp]

And that's the beauty of gold.

[@1timby]

My concerns are not worrying about the rise & fall of gold prices but the reasoning behind it. What external sources are causing these swings. Just like the recent wild swings in Oil prices. One has to wonder what is behind these. Is it an attempt by those in power to garner wealth?

[@belangp]

I've given up trying to understand the swings. The swings themselves are not all that important.

[@1timby]

belangp But aren't they harbingers of things to come? Not that I'm looking at gold like one looks at stock. But to try & see what's happening in the world to create the turmoil. If these swings change the economic climate of the world they would make a huge difference on how PM's are perceived & used. I'm certain that the stock bubble will burst. We here about the varied places gathering gold as a hedge. To me it's like the old timers getting ready for winter. So I'm not looking at prices as much as demand. Just a thought...lol

[@brettrasmussen413]

***** Sorry, I don't want to be argumentative, but the USA is nowhere near being an oil exporter and never will be, consumption is about double production. Hydraulic fracturing is enormously expensive and was not profitable at $90/barrel, at current prices the industry is imploding. Demand/supply is not the driver of price, it has more to do with oil derivatives which seem to unwinding in a big way, this in turn is driving up the $US and the high dollar is killing the oil price. The whole financial system is getting more unstable every day, stack stack stack!

[@Nationwithoutborders59]

Thank you very good information

[@ornelern]

Nesto here! By far one of your best video's per my girlfriend. I concur. Gold and silver are a store of weath. I can purchase over 5 gal of regular gas with 1 oz of silver. Like C. Martenson stated also, "a dollar is a claim on future human labor"; a debt that can never be repaid. So true! Weath = like R. Kyiosoki stated "is how many days you can survive without having to labor for dollars (i.e. work)." Looking forward to your email response on Miguel R.

[@belangp]

Hey Nesto. Glad you liked it. I will be responding to your e-mail. Sorry for the delay :)

[@Yep-h9g]

This is way I decided to buy gold each month little by little. Excellent vid

[@belangp]

Thanks!

[@MrManta2012]

thanks, that was fantastic, I am going to listen to it again. I do like charts

[@belangp]

Michael Hursh Glad you liked it.

[@Tom_Samad]

If the price of gold is the only thing you focus on, then you are not a very smart or forward-thinking investor. As investors, we have to look at precious metals from different angles and consider different factors. Once again belangp, you have hit the nail on the head.

[@belangp]

Tom Samad Thanks!

[@braddeal6445]

Mr. Belangp, I have done some research into how 30 year amortized loans were invented. Early on, a savings and loan, would actually buy a subject property for a client, and then contract with the client to buy shares in the savings and loan until the property's total value was paid for in shares, usually over 12 years, at which time the property was transferred to the client. The savings and loan actually owned the property until the last share was paid in full. If the client did not finish paying for the last share then he got nothing. Today buyers routinely enter into 30 year contracts to purchase their home. The buyers believe they actually own their home where in fact they are only tenants that manage the property for the lender. Much like the old days. But today the money the lenders use to buy the property is created by fractional lending, so the lender never really pays for anything, but the borrower pays back the loan with hard earned money. So my question to you is: There appears to be two kinds of money. The money the lenders use to loan out, and the money used to pay back that loan. The lenders money is mostly created by the push of a button with no value, but the money used to pay back that loan actually created something of value. The use of gold as a monetary standard would prohibit fractional lending and take power away from the lenders. Is this an accurate characterization? Is there two kinds of money and is this how the transfer of wealth works? Thanks again Brad Deal

[@belangp]

Brad Deal Hi Brad. The way I view it is that the consumer actually is the one who creates the money when taking out the loan. You see, every consumer has this asset called "credit" or "credibility". This is his or her character and ability to repay what is borrowed. A consumer with little or no credibility (hopefully) will not be extended a loan, but one with high credibility probably will be granted one. The bank's job is simply to act as an agent to judge the credibility of the would be borrower. When the loan is made it is the lender pulling into the present his or her future earnings that creates the "money". Any time a loan is made with an interest payment as part of the arrangement money is created, whether we are on a gold standard or not.

[@arafatbukhari8845]

Hi, Agree 👍 with you sir 100 percent. I am gold bar stacker from South Asia 🌏

[@belangp]

Greetings! I'm glad you liked the video.

[@getmartincarter]

Beautifully simple explanation

[@belangp]

Thank you. I like this video more than many of the others I have made.

[@John_BP]

Wow. This is eye opening.

[@belangp]

John 89 glad you liked it.

[@kelvinalston1128]

is it just me? but I listen to this video at least 35 times I. want this MSG to anchor in my mind deeeeeeeep! this make so much dam sense to me

[@belangp]

I'm glad you liked this video. It's one of my better ones I think.

[@dakotadak100]

Paul, great video, it seems like the price of gold hugs currcir more than it used to. Is this jus a coincidence you think or could there be more to it?

[@belangp]

I think there was a large shock in the 1970's when Nixon took us off of a redeemability standard. The oscillations around currency in circulation have been getting tighter, but I think it's only because it took a long time to adjust.

[@SilverCoinNews]

Just found your channel, great video belangp!

[@belangp]

SilverCoinNews Welcome! I think you'll enjoy it here. The subscribers are top notch and we have some great discussions.

[@dwimusudem7943]

Just discovered your channel. It's a "gold"mine . Hope you keep your treasure well protected from the dwarves and Hobbits ;-)

[@belangp]

Welcome aboard!

[@timrose6152]

It's a storage place of value, wealth for later use

[@belangp]

exactly

[@jakeski6488]

Thank you for educating.

[@M64936]

Which books would you recommend to learn more about both the history and the true economics of gold and silver?

[@belangp]

In order to really understand gold and how it relates to money and credit a very deep dive is probably in order. Ludwig Von Mises wrote a very fine work on the subject "The Therory of Money and Credit". It is available for free on Mises.org. It is a difficult read but very well worth it. I think where I'd go next is Peter Bernstein's Book "The Power of Gold: The History of an Obsession". He does a very nice job covering history and is very balanced. The next place I would go is some underground writing penned under the pseudonym "Another" on the USA Gold site. I placed a link below. www.usagold.com/goldtrail/archives/another1.html

[@em8864]

Thanks again for a great video

[@belangp]

You're welcome.

[@stasyszy]

its a buying opportunity! every time, anytime. the trick is to play the market and use ratios of PMs to exponentially acquire more PMs

[@layersoftheonion8168]

Someone on Zerohedge just posted this video and given it’s more than 5 years old I bet there are a lot of very happy commentators now!

[@belangp]

Oh, that's interesting. I wasn't aware of that.

[@dougz31]

Yep me too

[@keyser_sozeevil_genius1152]

Great breakdown! Thank you!

[@belangp]

you are very welcome. I'm glad you liked it

[@richbarber3845]

This is the correct way to think about its value, something i've not heard anyone else saying.

[@belangp]

+Rich Barber glad you liked it.

[@Vlad-wl3fw]

You are quite a philosopher, man. Great video content btw!

[@belangp]

glad you liked it.

[@swagatopablo]

Excellent video belangp. So one core message is to forget about the nominal dollar price, think of everything in terms of gold. But I have a crucial question. Do you personally like gold for its utility value (in the sense you value your laptop or even a bottle of coke) or its exchange value? Whenever you say gold as a storage of value, that basically means you are holding for exchange when the time comes, not utility. This brings me to my next point. As you say, many people do not understand gold. But I believe precisely this lack of understanding and interest that could make gold less valuable. I go to the farmer. He will not sell his wheat for gold because he does not understand gold. How does my understanding help me here. I am left with nice shiny metals which I think I understand, but cannot eat. A lot of changes has taken place throughout history. What if a cultural change is taking place where people do not like gold anymore for its utility? In ancient India, you could wear gold jewellery (which is basically a utility value) but in these ages, carrying an iPhone will appear more cool to most people. So if all the value of gold is based solely on its cultural acceptance, is not the foundation a bit shabby? If it goes out of culture, it losses exchange value, which will just accelerate the process further. Are you sure that is not what happening? The dollar as an intermediary is irrelevant here, but the farmer, the woodcutter, the supermarket cashier has to like gold. What can I do if they do not? I am not advocating fiat currency here. But should not I place my bet on something that is difficult to produce (unlike currency notes) and people really need, instead of just like?

[@silverman88cornell95]

thank you for replying so quickly to me, I am humbled. I have to say I've learned quite a lot from your channel and you have an excellent way of breaking down information that otherwise would be more complex and confusing. I do have one question, I have watched some of your videos which I enjoyed I might add but was wondering if you had a suggestion for the order I watch? Ps- I started off with Mike Maloney's book, then I found silver shield silver bullet series which I enjoyed. now I've stumbled onto your channel what I find different about your channel compared two other channels / informational pieces is that you have responded back to me, unlike the letters I wrote to unnamed precious metals advocators. to me this is a large advantage you have with your audience. I'm glad I found your channel and I look forward to any knowledge I can acquire from it. thank you

[@belangp]

+Silverman88 Cornell First of all, thank you for your compliments. I work hard to bring this material to people. Many years ago I was fortunate to benefit from the efforts of others who taught me what they knew without asking anything in return. The only way I can think to pay them back is to build upon their teachings and pass it along. So your positive feedback is very affirming. Thank you. As far as order of information goes... I've created playlists that group videos by subject. I'd suggest going to my main KZbin channel and clicking on the playlists page. Start with "Why Gold and Silver are Monetary Assets" playlist. You'll then want to watch the "Gold and the PetroDollar Connection" playlist. Then you'll want to watch the "Financial System Reset" playlist. The other videos might be of interest to you but these three playlists form the foundation.

[@faikhawrami]

thanks for your efforts...Greetings from Kurdistan

[@belangp]

+faik hawrami Welcome to the channel!

[@jaysonmaharaj8003]

I hope to never have a day I have to sell my gold in an emergency. I hope to pass these down in my family for future generations.

[@belangp]

me too

[@66fstbk2]

Well done ...much appreciated !!!!!

[@belangp]

66fstbk2 Glad you liked it.

[@BenTvHowman]

If we had system of gold coins to the value of $1 at the time of the launch. Would this be viable as the price of gold increases we could buy more with our coin and saving them up would effectivly raise its value by having them locked away instead of in circulation. Could this work to keep money safe? Could the value of gold drop?

[@yiralaya]

I always hope gold price goes down, to buy more - it is cheap now and it is unsustainable to stay that way for very long.

[@belangp]

exactly

[@yiralaya]

belangp I still remember when gold was USD 35/oz and I thought it is damn expensive. Now, time told me otherwise. BTW, contrary to what pundits in media say, when FED started rising rates in the past, gold price always started moving up.

[@erharddinges8855]

Yes, many brains are wrongly wired! PM are the best for storage! Sometimes it is clever to hold cash and wait for better charts to buy more when it is cheaper.

[@belangp]

There do seem to be some patterns to gold and silver. One of the more reliable ones has been the yearly seasonal trend. It didn't work this year though.

[@robertgreenwalddvm]

I would recommend this video to anyone that wants to understand fiat money, meaning money with no intrinsic value and only has value because the government says it has and people choose to believe it. In all fairness almost all we do are belief systems including our/my/belango's belief in gold. BUT Gold does have intrinsic value as explained in this presentation, and the belief system in gold and silver dates back to pre biblical times. I am an old guy who is super impressed with this presentation and would love to know the age of belango, who seems wise beyond his years.

[@belangp]

+Robert Greenwald Thanks. I'm glad you liked this video. I can't reveal my exact age for reasons of privacy. Suffice it to say I was alive when Nixon closed the gold window but too young to worry about going to war in Vietnam.

[@robertgreenwalddvm]

+belangp I appreciate ur answer and my question was unnecessary, because as U say we all learn from each other, and as old as I am (been in Vietnam and I am so unprivate that I even use my real name) I now have to learn from people younger than me because the ones older R starting to give up. lol I am an Ayn Rand aficionado and bought my first gold at $100 per oz, because in 1960 she was already preaching the evils of fiat money. I am going to forward ur video to several public school principals in the hopes that they will use it in their curriculum, because it is amazing that the largest part of the population including the intelligentsia and our educators R ignorant of the financial/monetary history of our country, that U reviewed in this video.

[@belangp]

+Robert Greenwald I appreciate the compliment and hope that the word gets out. You might enjoy my other videos. I've put together more than 150 at this point. I don't make any money off of them (and refuse to turn Adsense on). I was fortunate enough to find information related to gold and the markets and the nature of wealth available for free as a result of the kind efforts of others. The knowledge benefited me greatly. I can never pay these teachers back so my hope is that I can do a good turn for others by refining their teachings and passing them along in the current medium of choice.

[@pawelpawel7413]

regarding first concept of price of items in fiat - i recently started to make a lot of money (relatively for me ofc.) and I really lost the feel of how much money is a lot for most of items (add to this a covid world we live in, everyone talking about inflation, me learning about money, me figuring out that i can buy something that i can afford but still choose to pay in installments so i take advantage of inflation and don't loose my money cushion, add to that me still being early in my career aka. I doubled my income in 6months because of the demand on job market and correct choices i made). Did it happen to you guys? How should i proceed now?

[@belangp]

Careful with paying in installments. One of the ways the system tricks people into overconsuming is to reduce something to a periodic payment. Car payments are a prime example. Few people can afford to pay cash for a new car, but dealers make it easy to pay in monthly installments at what appear to be either low or zero percent interest rates. It might seem like a steal until one realizes they just purchased a new car they couldn't really afford, simply because credit was extended.

[@Pauliwog3]

Are there any websites that compare wages, the price of everyday objects, etc to gold and silver over time?

[@belangp]

www.pricedingold.com

[@Pauliwog3]

@@belangp Thank you for posting the link. And for making these videos. I just found your channel and am looking forward to watching more of them.

[@SoCalFreelance]

Perhaps also that gold slowly appreciates in value as world population increases resulting in greater demand. Gold smuggling into India is pretty crazy right now due to the demand for it.