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🎙️What I’m Listening To - The X22 Report: The Failing Fiat Currency & How To Protect Wealth

With the government providing financial stimulus to people to eradicate poverty, David Garofalo, CEO of Gold Royalty, is apprehensive that it will lead to a rise in inflation. The money from the stimulus is going straight into savings accounts instead of being invested. It would not be easy to get it back from the economy; as a result, devaluing the fiat currency. An unprecedented increase in its printing due to the pandemic will also lead to inflation in asset prices.

According to him, there is growing discontent among the new generation investors with the fiat currency. People are now showing interest in bitcoin, perceived as a reserve currency. This interest is reflective of a desire to be protected against inflation.

However, gold will continue to be the most sought-after reserve currency for the world because cryptocurrency does not have any physical property to it, whereas investing in gold leads to the preservation of capital during inflation.



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