Gregor Gregersen - Expect Gold Confiscation to Follow a Currency Crisis
SBTV spoke with Gregor Gregersen, founder of Silver Bullion, about the de-dollarization trend and why he thinks a gold confiscation event will follow a currency crisis. Gregor also gives an update on the construction of The Reserve, one of the highest capacity vaults in the world.
Discussed in this interview:
01:07 Update on The Reserve, one of the world's highest capacity vaults
05:32 The de-dollarization trend
11:53 Safeguards to take
18:20 Downfall of empires
21:41 Opt out from fiat devaluation
24:31 Will gold confiscation happen again?
26:21 Benefits of storing gold in Singapore
31:56 Why Singapore works
SBTV Interview Summary
In a recent interview with Silver Bullion TV, Gregor Gregersen, the founder of Silver Bullion, The Safe House, and The Reserve, offered his perspective on the current economic landscape, the concept of de-dollarization, and the potential for gold confiscation in the event of a currency crisis.
Gregersen began by discussing the concept of vertical integration at the heart of The Reserve, which is currently under renovation. When completed in late 2023, The Reserve will be a comprehensive solution for wealth management, offering storage for precious metals, and other physical assets. He explained that vertical integration means that the Silver Bullion group has full control of its bullion dealership, vaulting technology provider, and vault storage, and is the vault's landlord.
The vertical integration model allows Silver Bullion to control all aspects of their business, from owning the facility to the software development side, thereby reducing counterparty risk for their clients.
The conversation then shifted to the topic of de-dollarization, which Gregersen defined as the desire for entities to have alternative currency options beyond the U.S. dollar. He explained that the U.S. dollar's dominance in the global financial system as the world's reserve currency has led to a situation where the U.S. can effectively dictate the actions of banks worldwide. This has led to a growing desire among nations and individuals for financial independence from the U.S. dollar.
A significant part of the discussion was dedicated to the history and potential future of gold confiscation. When asked about examples of past gold seizures like the 1933 U.S. gold confiscation by FDR's executive order 6102, the Nazi Germany Czech gold seizure during World War I and the 1966 UK gold ban, Gregersen emphasized that in times of economic crisis, governments have often turned to gold, a universally trusted asset, to stabilize their currencies. This has sometimes led to a gold seizure or nationalization event.
Gregersen expressed his belief that if a currency crisis were to occur in the future, the likelihood of gold confiscation would be high. This is because the debasement of paper currency will erode confidence in the currency's value. Only gold could be used to back a new currency in the event of a crisis to restore a level of trust and stability.
Gregersen also highlighted the unique position of Singapore as a global financial hub. He praised the country's pragmatic approach to governance, low corruption, safety, technological advancement, and wealth. He also highlighted the country's resilience and neutrality, which he believes will continue to make it an important player in the global economy, especially as the world becomes more bipolar.
In closing, Gregersen discussed the challenges of constructing The Reserve in Singapore due to the stringent regulations and labor shortages brought about by the COVID-19 pandemic. Despite these challenges, he expressed optimism about the future and the continued growth of Silver Bullion.
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