If You Think Bitcoin Can Replace Gold, Then Read A History Book - Frank Holmes

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  • Published on May 17, 2019
  • As much as bitcoin can be seen as a form of currency, it still is not a replacement for gold, said Frank Holmes, CEO of U.S. Global Investors.
    He said that it is not well understood, especially by today’s younger generations, why gold is fundamentally important to any economy.
    “[Millennials] should do their homework, they should open up a history book on why gold is so significant… why the great ‘love trade’, that if you love your country you should have gold in reserve. If you have a crisis, your paper money goes down in tremendous value. Gold is what bailed out Britain, getting it over to Canada, and then trading to get weapons from America, it was gold that did it,” Holmes told Kitco News.
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Comments • 74

  • Thomas Henshall
    Thomas Henshall 3 months ago

    Oh listen to this guy; if you love your country buy gold! 😂
    USA money is not backed by gold anymore sweet heart, that ended in the 70’s. Open a history book dick cheese things have changed.
    Litecoin is the silver to bitcoin.
    This guy is stupid and uneducated. Boo this man. Booooooooooooooo
    Ethereum is a decentralized platform. Shit head.

  • Brawl Stars Fights!
    Brawl Stars Fights! 3 months ago +1

    I can’t wait to order my amazon package with Bitcoin, I MEAN with gold!

  • Jason Kellogg
    Jason Kellogg 3 months ago +4

    “Read a history book” what? This dude would’ve said this when cars were first invented about horses lol

  • Corpsecreate
    Corpsecreate 3 months ago +3

    green screen anybody?

  • Antonio Mungia
    Antonio Mungia 3 months ago +1

    In the future gold could backup bitcoin.

  • Chronos XRP
    Chronos XRP 3 months ago +3

    XRP will prevail overall I promise.

  • Mahmut Koroglu
    Mahmut Koroglu 3 months ago +42

    Bitcoin haters are 95% old people

  • DrKomaTrans
    DrKomaTrans 3 months ago +10

    the future is now oldman go and die

  • Paul Flynn
    Paul Flynn 3 months ago +2

    This guy is a dinosaur.

  • C Joe
    C Joe 4 months ago +2

    "replace" is irrelevant. Gold is a stable element that won't go away as long as the earth exists.
    But the problem is, it just loses it's value over time in the contemporary context. Those permabulls left as time goes on will be fewer and farther between. It only has as much value as what those left in this world believe it has.

  • moonstate2020 moonstate2020

    Wait until governments will start to issue own currencies or more hacker's attacks would be such.

  • Lavalambtron
    Lavalambtron 4 months ago +33

    He’s forgetting the fact bitcoin can be used all over the world and taken between countries without carrying tons of yellow metal in your luggage which would be confiscated and also impractical, but just an access key in your memory, it’s a truly global currency of the future.

  • William Casey
    William Casey 4 months ago +18

    The world your generation left us is garbage. Work one shift at a millennial's dead end job and your opinion will change

  • Mark Elsesser
    Mark Elsesser 4 months ago +65

    BTC and gold can co-exist, that's the beautiful part.

  • Michael nunya
    Michael nunya 4 months ago +126

    Bitcoin was never suppose to replace gold my friend. It’s suppose to replace the criminal fiat currency that the Americunts forced on every nation.

  • coryg121
    coryg121 4 months ago +3

    There is a huge bias to bitcoin because most of the people online are millennials.. if most the major countries central banks are stacking gold at record levels right now, you got to ask yourself why.

  • Derek Watson
    Derek Watson 4 months ago +4

    Bitcoin has eaten gold's lunch as the best monetary alternative to unlimited fiat. Gold is left with industrial and decorative uses. If you think gold is the best money, you're behind the curve.
    Bitcoiners thought goldbugs would be libertarians and embrace the new improved money, but they weren't. They were just goldbugs.

  • On a Silver Platter
    On a Silver Platter 4 months ago

    Frank, how’s HIVE doing BTW ?

  • Joe Bandy
    Joe Bandy 4 months ago +1

    You don't hear China or Russia or India buying Bitcoin, they, according to the sources I trust have been and still are buying Gold, Bitcoin is good for a trade, it acts like a stock, maybe digital Gold is what you need to look at? But, I don't know enough about that, hardly anyone talks about it

  • Mike OZ
    Mike OZ 4 months ago +7

    Whatever happens will be decided by the banks. NOT the free market as it doesn't exist anymore!

  • KingKong Conan4
    KingKong Conan4 4 months ago +3

    Bitcoin and block chain is decentralised. FIAT ccy does works better than gold because it is easier to use. Lwts face it you cant carry a few ounces of gold everywhere you go. However Fiat was only BUT worth something when it was backed by Gold or Silver. After we stopped the gold standard central manipulation and miss use of Fiat money created too much inflation and it got out of control to the point we now have trillions of debt. This is why bitcoin works because it works exactly like Fiat but is not controlled by one central authority. Therfore the principles that are initially given to any good idea for money to be used in an economy at its birth are maintained forever. Hence why new money in past history works good for about 30 - 50 years then fails. There are many other crypto ccy that are better than Bitcoin like EOS that will revolutionise our economies and its all very exciting how we will treat value and a major paradigm shift in money is about to be understood in the next couple of years. At the end of the day all money is only worth what the next person values it at as long as more than one person believes something is worth something they will accept it or buy it. Bottom line yiu cant eat gold or bitcoin so who gives a shiiiii.. have a good day.

  • KingKong Conan4
    KingKong Conan4 4 months ago +4

    EOS is Platinum - BTC is Gold - ETH is Silver

  • Sergio Bowers
    Sergio Bowers 4 months ago +38

    Bitcoin has provided greater returns since 2015 than owning an ounce of gold at spot price since 1975, even after falling from 2017 ATH.
    Look at the yearly lows & highs of Bitcoin, it's 100% a store of value so far.

  • Andrew Beresh
    Andrew Beresh 4 months ago +3

    Business accept coupons and gift card for payment and they have no real value.

  • Andrew Beresh
    Andrew Beresh 4 months ago +10

    Bitcoin will never replace gold or silver because bitcoin has no intrinsic value compare to gold and silver. Gold and silver will outlast bitcoin. Bitcoin is a made up currency like the stock market or dollars.

  • flownet07
    flownet07 4 months ago +7

    Maybe BTC is not rigged like gold prices are?

  • Andre De La Fontaine
    Andre De La Fontaine 4 months ago +1

    Does Bitcoin collect interest , maybe that's why it hasn't been outlawed, bankers love the idea of not paying interest but the Gov will collect a sales tax. So Win-Win for the Parasites and Crooks.

  • Jesse B
    Jesse B 4 months ago +3

    Cool digital money is of the future. That just means even more inequality yipee the rich aren't rich enough yet. Better make an asset backed by nothing and call it our new currency!

  • REKKT
    REKKT 4 months ago +19

    So gold has financed wars in the past...

  • Reinaldo Michael
    Reinaldo Michael 4 months ago +1

    Gold has been here for million years and has been money for milenials.. Bitcoin just 10 years old ,how come we can trust it as backup currency?

    • 00rphb
      00rphb 4 months ago +1

      Because pyramid schemes are always worth putting our faith into.

    • KingKong Conan4
      KingKong Conan4 4 months ago +1

      Because Bitcoin and block chain is decentralised. FIAT ccy does works better than gold because it is easier to use. Lwts face it you cant carry a few ounces of gold everywhere you go. However Fiat was only BUT worth something when it was backed by Gold or Silver. After we stopped the gold standard central manipulation and miss use of Fiat money created too much inflation and it got out of control to the point we now have trillions of debt. This is why bitcoin works because it works exactly like Fiat but is not controlled by one central authority. Therfore the principles that are initially given to any good idea for money to be used in an economy at its birth are maintained forever. Hence why new money in past history works good for about 30 - 50 yeara then fails. There are many other crypto ccy that are better than Bitcoin like EOS that will revolutionise our economies and its all very exciting how we will treat value and a major paradigm shift in money is about to be understood in the next couple of years. At the end of the day all money is only worth what the next person values it at as long as more than one person believes something is worth something they will accept it or buy it. Bottom line yiu cant eat gold or bitcoin so who gives a shiiiii.. have a good day.

  • Doktaah Who?
    Doktaah Who? 4 months ago

    Paper Gold is just as stupid as bitcoin! If you dont hold it, you don't own it.

  • Doktaah Who?
    Doktaah Who? 4 months ago

    Wait til a EMP wipes out the internet, be it man made or solar. Then watch the bitcoin pussies cry their eyes out!

  • Chateau Bullion
    Chateau Bullion 4 months ago +7

    Can someone inform me why Central Banks are hoarding gold instead of bitcoins?

  • Paul And Thats All
    Paul And Thats All 4 months ago +4

    Banks aren't buying bitcoin, so whats that telling?

  • Easy Eagle
    Easy Eagle 4 months ago +11

    Another foolish Goldbug. Bitcoin is the ONLY assist disconnected from the U.S. Dollar. GOLD and SILVER are manipulated by the banks. Stay on the sidelines. Everyone one else is making 100-300% a year. Good luck leaving a country with a suitcase filled with Gold and Silver as opposed to a Ledger wallet online.

  • Jackie Bridges
    Jackie Bridges 4 months ago +1

    bitcoin down these bitcoin beanie baby lovers are going to see governments are going to make this illegal so in plane sight...buy real money gold and silver

  • invisibleAzN
    invisibleAzN 4 months ago +9

    ummm, bitcoin is meant to replace fiat last i checked........DERP

  • z g
    z g 4 months ago +8

    When will people stop comparing Bitcoin to gold? They are two entirely different things.
    Both have shinning positives and very few negatives. I don't need a gold shill to sell me on gold.

  • Dave Todd
    Dave Todd 4 months ago +2

    Frank, always the adult in the room. Thanks

  • mvl9591
    mvl9591 4 months ago

    I'd like to buy a Bitcoin necktie like Max Keiser's. Buy #Gold!

  • laureate-concert-group
    laureate-concert-group 4 months ago +19

    Frank Holmes is right. Precious metals and Crypto are two separate asset classes.
    Crypto might well appreciate in a falling stock market, while Gold may well stay subdued due to price rigging by the FED - remember Max Keiser’s comment?
    In the end it will NOT slowly appreciate but instead make a quantum leap when currencies are eventually reset. Everybody stay on your toes!

  • Tim Hopper
    Tim Hopper 4 months ago +32

    I’m 60% physical gold/silver, and 40% bitcoin. They are different in a good way, and both are much better than a dying USDollar

  • makripodis ioannis
    makripodis ioannis 4 months ago +4

    bitcoin and gold has limited supply. thats the only significant reason the two of them are being compared.

  • Jeremiah Murphy
    Jeremiah Murphy 4 months ago +12

    How is your bitcoin after a emp? Ha

  • havikshorst120
    havikshorst120 4 months ago +5

    Bitcoin flashcrash last night in China trading hours

  • John Burman
    John Burman 4 months ago +4

    This is an upside down world, will I live long enough.

  • Kevin r
    Kevin r 4 months ago

    Would be nice if kitco listed the music credits and give credit where credit is due.

  • Thunderbird
    Thunderbird 4 months ago +3

    Gold is "real" and Bitcoin is NOT

    • Paz Rahn
      Paz Rahn 4 months ago +6

      Internet isn't real and either is your comment.

    • BOSTON
      BOSTON 4 months ago +4

      What would be easier to transport 1 mil in gold or 1 mil in Bitcoin?

    • Scottie Chris Rodriguez
      Scottie Chris Rodriguez 4 months ago +5

      As long as you have your private key you're good!

  • Bolivian Billionaire
    Bolivian Billionaire 4 months ago +11

    this dinasaur will wake up too late.....

  • Dan O'Neill
    Dan O'Neill 4 months ago +4

    fools gold

  • Kevin r
    Kevin r 4 months ago

    Anybody know who does the music at the end of this video? I love the guitar work.

  • Julie
    Julie 4 months ago +20

    Bitcoin: The emperor has no clothes. He's stark naked. Millenials will pay for their ignorance.

    • WasabiNinja
      WasabiNinja 4 months ago +10

      _"Bitcoin: The emperor has no clothes"_
      No, That's the dollar. If you don't understand the principles of how money works, then maybe you should educate yourself because that's where it starts before you can understand how Bitcoin comes into play. I'm noticing all you naysayers don't even know how money works. Heck it was never taught in school........for a reason.
      Bitcoin is just a method just like Gold is a method just like the dollar is a method just like sea shells were a method just like rai stones were a method but the principle of money and how that works is still the same. Principles are few, Methods are many.
      One day you'll educate yourself..but I'm not holding my breath on that. I just laugh at all you dinosaur "The automobile will never replace the horse and buggy" folk.
      Want to know a secret? The internet is a software protocol and look at it today. That same protocol was built in the 60s and it's the exact same protocol you use to this very day to get on the internet to watch cat videos instead of utilizing it to help educate your ignorance. Guess what Bitcoin is.....a software protocol. This is the 90s all over again. lol. Applications are built on top of a protocol.
      ruclip.com/video/UlJku_CSyNg/video.html

    • Rob Turley
      Rob Turley 4 months ago +3

      But his clothes made by
      Hugo Boss

  • Truthsabre7
    Truthsabre7 4 months ago +4

    How can something that has no value made up by some guy difficult to transact illegal in a number of countries have such value?

    • invisibleAzN
      invisibleAzN 4 months ago +6

      The concept of using gold as a weight and measure was just made up by some guy too once upon a time. Not taking anything away from gold.....i own some. But c'mon people....Fiat money has been used for FAR more evil then some shmuck buying mushrooms on silkroad with crypto. Trillions vs billions......perspective please.

  • Rik Van Gansberghe
    Rik Van Gansberghe 4 months ago +3

    I've invested in AUY and Barrick Gold corp. Smart move or stupid?

    • Michael Lomenzo
      Michael Lomenzo 4 months ago +1

      Rik Van Gansberghe Barrick at $12 is cheap. Long GOLD

  • Ipostle
    Ipostle 4 months ago +3

    Great sign of confidence in the Empire.

  • Illuminati Supporter
    Illuminati Supporter 4 months ago +5

    If not bitcoin one of these Cryptos has a future, if you want to gamble or buy things the government frowns upon, if you want to send a friend money without charges, anything you don't think is your banks business, crytos answer that problem, and if we go cashless Cryptos will be vital, but the investors and the fact the value of bitcoin keeps changing, well its a selling point to investors, it is not a selling point to general users, and that's a problem

  • Ry Low
    Ry Low 4 months ago +3

    Real wealth has to be tangible full stop! I have crypto but my real money lies in GOLD AND SILVER1

  • Fancy Powers
    Fancy Powers 4 months ago

    Interesting

  • NBK Krypto
    NBK Krypto 4 months ago

    BTC bottomed when JPM Coin was released? ... HuuuuuuuuH? ...lmao. Its amazing how dumb some of the most prominent analyst are when it comes to Bitcoin. I guess it just shows how early us early adopters are. These people are clueless about the tech and what crypto is. Im not an ignorant young person that you speak of? You sound like an old nutty Gold Bug who is fighting for a 1000 year old asset thats on its way out. I would rather have the ability to to put $50 million in BTC and move anywhere in the world with it than put on a gold chain. Frank you are a Bozo. #NBKrypto

  • HUMAN FROM EARTH
    HUMAN FROM EARTH 4 months ago +8

    There isn't one thing that gold does better than Bitcoin. The value of bitcoin derives from its decentralization, security, transparency and usability.

    • Brian Baenen
      Brian Baenen 4 months ago

      Weren't you listening jewelry

    • Andrew Manley
      Andrew Manley 4 months ago +1

      And it's transnational and can't be seized or confiscated.

    • Kirsty
      Kirsty 4 months ago +2

      Can't mine more bitcoin from asteroids either...

    • vorrzaaa
      vorrzaaa 4 months ago +2

      Delusional and clueless.
      You cant even mine or transact in bitcoin without gold, as it's in every computer.
      Thats just one example, but makes a complete joke out of your ridiculous statement.