The owner of Gold & Silver Pawn Shop, Rick Harrison, weighs on Gold, hitting an investment record on “The Claman Countdown”.
The personality of “Pawn Stars”, Rick Harrison, broke out why investors put their money behind the “absolutely nuts” gold market in record number.Claman’s countdown. “”
Harrison joined Anchor Fox Business Liz Claman Thursday, after declaring that gold prices reached a record level of nine times this year, up more than 11% of up to date. This occurs during the growing calls of officials like Elon Musk to audit Fort Knox, the deposit kept for American gold reserves.
“I just say that if everyone does not say:” No, we should not audit it “, we should probably audit it,” said Harrison about Fort Knox. “There is no good reason not to do it, then when they start to argue that we should not, it is even better for the audit.”
“My problem is that my suppliers limit the amount of gold they will sell you in gold and silver,” continued Harrison. “Because they cannot get it. I mean, it has gone absolutely crazy.
Fort Knox holds 147.3 million ounces of gold, according to the US Mint.
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Harrison has credited inflation, or the government “Print money like confetti”, to explain the popular investment of the public in gold and money.
“Remember, we live in a world where we print money like confetti, and that is concerned with many people,” said Harrison.
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“I mean, the government’s number one line element is now an interest in the debt. It is 36 billions of dollars. I mean, you can never repay it, “he said.” So the only way to repay the debt is to inflate the money supply or monetize debt, which can cause inflation anyway. It is therefore one of the reasons why I think everyone buys gold and silver. “”
Harrison and Claman explained how the price of gold has increased exponentially this year, referring to its cost of 1974 below $ 200 per Ounce Troy. Currently, gold costs $ 2,940 per ounce, according to JM Bullion.
However, the owner of Gold & Silver Pawn Shop insisted that there are no disadvantages to the rediffusion of gold for those who do not buy it or do not buy it. He argued that many buy gold as a “coverage against inflation. “”
“When we were on the gold stallion, there was really not much inflation because you could not print money,” said Harrison. “Because the whole definition of inflation increases the monetary offer, which our government is doing at an astonishing rate at the moment.”
After having highlighted the gold stallion, Harrison went to the explanation of the cause of today’s inflation.
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“At the time, you know, the gold stallion, you just couldn’t print gold, and therefore he kept inflation under control,” he added. “The bankers complained about this. They wanted more money in the system, so they load more money, you know, but it caused inflation. The gold stallion works. It worked. For thousands of years … “
