Steve Forbes Speaks Out on the Presidential Race, Fed Recklessness, and Gold

Mr. Forbes’s views are his own and do not necessarily reflect the views of ACC.

Mike Gleason, Director, Money Metals Exchange: It is my great privilege to welcome Steve Forbes, Editor-in-Chief of Forbes Magazine, CEO of Forbes, Inc. to our Money Metals Exchange podcast. Steve is also author of many fabulous books,

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“You can’t talk normally because it’s like f— Preet Bharara (US Attorney) is listening to every f— phone call,” Adam Skelos (Former NY Senate Majority Leader)

It’s not often that a lawyer has the political class of an entire state running scared and looking over its shoulder. Preet Bharara has done this in New York. He recently prosecuted successfully the former Speaker of the New York Assembly and the Majority Leader of the New York Senate. Some think that he is getting ready to go after even bigger game. Though Bharara is being coy about that.

It is one of the most remarkable anti-corruption crusades we’ve ever seen.

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“United States Attorney Preet Bharara is expected to indict Governor Andrew Cuomo on Saturday, January 2nd of next year”

Mr. Bharara is one interesting guy. He just prosecuted the formerly very powerful former Speaker of the New York State Assembly Sheldon Silver. (Who is headed to jail for a long time.) Now, according to The Buffalo Chronicle he has Governor Cuomo in his sights.

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Billionaire investor Icahn, We are in a bubble, could be “very very destructive.” (Video)

Yeah, the reckoning has been coming for a very long while. The Fed is out of control and lost. The stock market as it is is not sustainable. Many other markets are in the same boat.

Any market which reflects the wants and desires of the rich (aka those closest to newly “printed” money) is pretty much in a bubble. Art, wine, etc. Even residential real estate in places like London and New York are bubblicious.

It isn’t going to keep going.

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Gold “Terrifies” the International Monetary System

Indeed it does. Gold is a little bit of power you can put in your pocket. It is a direct and ongoing challenge to the current system of fiatism. (And by extension crony capitalism.) Central Banks can’t print gold. Gold limits the power of the Fed and its brethren. Gold limits the power of the banks which suckle at the teat of central banks. Gold limits the power of governments to indebt their peoples. Gold limits the ability of governments to wage war.

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To get real jobs back why don’t we consider real money?

Say what you want about gold but it has held its value for thousands of years. The fiat dollar? Well let’s just say its been a steady march toward becoming trash.

If we want a high value economy, if we want high value jobs, we should have “high value” money. Sound money. Gold backed money. We should have money which can’t be eroded at the whim of our central bank.

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The only way back to an honest economy: A new gold standard

Gold is honest money. Gold has been valued throughout the millennia at roughly the same real amount. The old example is that the cost of a nice tunic and a good pair of sandals in Jesus’ time was roughly an ounce of gold. In 1900 the cost of a nice suit and a good pair of shoes was roughly an ounce of gold. Now, today, at $1300/ounce this example still holds. The real value of gold has of course varied a little over time.

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