Gold Reserves on the Decline - podcast episode cover
Download Metacast podcast app
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more

Episode description

In 1971, President Richard Nixon changed the rules of money because foreign countries being paid in U.S. dollars grew skeptical when the U.S. Treasury was printing more and more money to cover our debts, and they began exchanging their dollars directly for gold in earnest, depleting most of the U.S. gold reserves. 
There’s been a significant under-investment in exploration by the world's major gold miners and it has resulted in a decline in minable gold. Today’s guest explains that there has been a 40% decline in gold reserves.  
David Garofalo, Chairman & CEO of Gold Royalty Corp. says, “What they didn’t do is replace what they’ve been depleting.” He continues, “Our assets have been depleted and as a result, the production is declining. We can’t respond with supply because it takes a long time to find deposits, it’s capital intensive, and it’s risky.”
Host Robert Kiyosaki and guest David Garofalo discuss what the declining gold reserves mean for the future of gold mining and its price. 
Learn more about your ad choices. Visit megaphone.fm/adchoices
For the best experience, listen in Metacast app for iOS or Android
Open in Metacast
Gold Reserves on the Decline | Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business podcast - Listen or read transcript on Metacast