{"id":10769,"date":"2021-08-10T17:54:21","date_gmt":"2021-08-10T17:54:21","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/barrick-gold-ceo-says-no-one-believes-in-fiat-currencies-anymore\/"},"modified":"2021-08-10T17:54:21","modified_gmt":"2021-08-10T17:54:21","slug":"barrick-gold-ceo-says-no-one-believes-in-fiat-currencies-anymore","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/barrick-gold-ceo-says-no-one-believes-in-fiat-currencies-anymore\/","title":{"rendered":"Barrick Gold CEO Says \u2018No One Believes in Fiat Currencies Anymore\u2019"},"content":{"rendered":"

The South African businessman and CEO at Barrick Gold Corporation, Mark Bristow, recently explained in an interview that \u201cno one believes in fiat currencies anymore.\u201d Bristow says the world is currently \u201cbattling\u201d on how to \u201cposition investments on the back of the unforeseen and unrealized damage of how the pandemic crisis was managed.\u201d<\/strong><\/p>\n

Mark Bristow: \u2018Everyone\u2019s Desperate to Find Alternatives\u2019<\/h2>\n

Barrick Gold CEO Mark Bristow joined CNBC\u2019s \u201cSquawk on the Street\u201d this week to discuss the global economy, gold\u2019s recent falter<\/a>, and other types of investments. The Barrick Gold executive discussed<\/a> the company\u2019s goals and 2021 revenue on Monday as well, and noted that it didn\u2019t expect inflation to hurt gold.<\/p>\n

While speaking<\/a> with CNBC\u2019s Carl Quintanilla, Bristow stressed that the gold market was a \u201clong-term business\u201d and further emphasized that \u201cthe gold price goes down and it goes up and not necessarily in that order.\u201d<\/p>\n

Bristow showed a distaste for fiat currencies and how the world\u2019s central banks handled the economy during the pandemic. The Barrick Gold CEO explained to Quintanilla that he\u2019s not a fan of crypto assets and it\u2019s not the first time he\u2019s told CNBC that he believes cryptocurrencies are \u201cinferior.\u201d<\/p>\n

On May 20, 2021, Bristow told the hosts of the \u201cMad Money\u201d broadcast that gold can\u2019t be created so easily. \u201cThat\u2019s one thing you can\u2019t do, is no one can print gold. We can still make cryptocurrencies,\u201d Bristow said<\/a> at the time.<\/p>\n

On Monday, during the interview with Quintanilla, Bristow reiterated his dislike for digital assets, but further explained why he thinks people are attracted to them.<\/p>\n

\u201cThis world is battling with how to position investments on the back of the unforeseen and unrealized damage of how the pandemic crisis was managed\u2026 and the impact it has on the global economy which really hasn\u2019t materialized yet,\u201d Bristow remarked. Quintanilla delved into the crypto subject and Bristow stated that when it comes to digital assets \u201cthere\u2019s no comparison with gold.\u201d<\/p>\n

The Barrick Gold executive explained that one thing was \u201ccritical\u201d and that \u201cyou can\u2019t just create value\u2026 and what you are really buying [with crypto] is energy.\u201d Bristow wholeheartedly believes the global battle on how to position investments is what\u2019s causing crypto adoption. The lack of trust in fiat is the main reason, Bristow noted, saying:<\/p>\n

No one believes in fiat currencies anymore and everyone\u2019s desperate [to find alternatives].<\/p>\n

<\/p>\n

Gold Buying Opportunity<\/h2>\n

As far as the recent precious metals flash crash, Bristow thinks it\u2019s a buying opportunity. Bristow thinks developing countries are hurting far worse than a number of other regions worldwide.<\/p>\n

\u201cThe whole issue here is that everyone wants instant gratification, everyone\u2019s already concerned about how you store your [wealth] that you\u2019ve seen grow in the developed worlds,\u201d Bristow said. \u201cThe emerging and developing world\u2019s economies are in dire straits,\u201d the Barrick Gold CEO added. Bristow further said:<\/p>\n

Without a doubt, this is a buying opportunity and you still need a 5% or so part of your investments in gold.<\/p>\n

What do you think about Mark Bristow\u2019s opinion that no one believes in fiat currencies these days? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nEconomics, Barrick Gold, Barrick Gold CEO, Barrick Gold executive, Bitcoin, Carl Quintanilla, CNBC Interview, Crypto, crypto assets, dire straits, economics, Economy, fiat currencies, Flash Crash, gold, Gold Bug, Gold Buying, managing pandemic, Mark Bristow, Monetary System, money, pandemic<\/p>\n","protected":false},"excerpt":{"rendered":"

The South African businessman and CEO at Barrick Gold Corporation, Mark Bristow, recently explained in an interview that \u201cno one believes in fiat currencies anymore.\u201d Bristow says the world is currently \u201cbattling\u201d on how to \u201cposition investments on the back of the unforeseen and unrealized damage of how the pandemic crisis was managed.\u201d Mark Bristow:…<\/p>\n","protected":false},"author":0,"featured_media":10770,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-10769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10769"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=10769"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10769\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/10770"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=10769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=10769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=10769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}