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$20,000 Gold And The End Of "Pollyanna-ish Do-Goodery"
"They just won't let the scales balance... it is a rampant narcissistic megalomania that somehow some guy in a air-conditioned office can best repliacte the free market and centrally plan our affairs... Their starry-eyed pollyanna-ish do-goodery never seems to pan out."
In the flux of never before seen economic uncertainty, Stefan Molyneux and Mike Maloney discuss the difference between currency and money, the historical role of gold as money, the dependence of the United States government on Wall Street for tax revenue, the role of the Federal Reserve in the creation of unstable economic bubbles, the possibility of deflation, $20,000 gold and how you can protect yourself in these uncertain economic times.
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My Oberlin Economics Degree tells me that gold has outperformed every fiat currency ever invented. The US$ is merely the latest form of fiat.
Another way of saying $20,000.oo/ozT gold is saying that the US$ will actually lose that much value against gold. It's really a moot point.
At a certain point the US$ will be such a weak currency that physical gold holders will be unwilling to trade gold for US$'s.
I see gold as constant in value with all other manufactured currencies weakening against it. 2.7 million years ago, an ounce of gold bought a really nice designer suit and an ounce of gold still does the same thing today.
2.7 million years ago that suit would have had to be a bit deep in the chest and long in the sleeve...
Gold promoters never say sell, but there's always a time to sell so be cautious especially of Maloney. I think if gold hits $4000 there will be so many sellers, it won't go much higher. Hyper inflation is unlikely so the whole idea that a loaf of bread will hit $125 is far fetched. I can easily see gold at $2500 or $4000 but $20k NO WAY.
Well I'm so glad you were able to formulate an opinion.
If gold is bid $4000 american dollars there will be no sellers of gold for american dollars.
And once it goes bidless, 20k is the next stop... ? And why stop there... it will stop when things are back in balance and gold will back the system again... it will be a wild ride, me thinks.
Opinion based on the actual physical market. Gold bullion physical coins and bars today = more than I've ever seen, by a long shot. Local coin shops are stacked with inventory, no shortage in sight. Silver is the real joke, $14/oz and there are rolls of coins to the ceiling of supply shops. There is a lot more physical gold out there in private hands than ever before. I am sure there will be eager sellers at $2k all over the world. $4k is REALLY a stretch. $20k per ounce of gold, don't believe it -- that's disgraceful to suggest.
It all depends on what the USD is doing. There probably won't be eager sellers of gold at $2k an ounce if inflation is running at 9% and a few more OPEC countries start accepting payment in currencies other than USD.
Magnum - might I suggest a read? "When Money Dies" by Fergusson. Learn about the real world.
Weimar book doesn't necessarily mean USA, which is in a very different set of circumstances than Weimar, will end up with hyperinflation. How long have you been a hyperinflation guy?
The new US$ (Zimbabwe style)
Gold is a fiat currency too.
If shit really hits the fan. The economy breaks down. What you have to eat in your cupboard. The temperature in your home. The morality and compassion of your neighbors. Are the things of value. Speculators will still have to wait for a more artificial economy to rise out of the chaos, for gold to be worth much of anything.
The rise and fall of gold in only in relation to the rise and fall in the faith of the real economy. It is speculative, not intrinsic. Just as any currency is. I get so sick of people blathering about the worth of any form of currency vis a vis disasterous economic crashes. Disaster means the value of any currency, or non edible or non energy producing form of currency is vastly devalued. Only speculators who can ride out the disaster can see their hoard of whatever currency, maybe being of value again.\
Dollars, gold, bitcoins? I think food, water, power, friends and ammunition are hedges against total economic breakdown.
I would Reframe your assertion as follows:
There is a good reason why Ag and Au are called Precious Metals. They are precious, but metals nonetheless. As such, they are Precious Commodities or Precious Assets, if you will.
If you have the good sense to treat it like a Precious Commodity that is subject to wide price fluctuations and manipulation between your Buy and Sell dates, then you can go in it with eyes open, and allocate/gamble accordingly.
I know what you are trying to say. Money is basicaly only useful if you have enough of a society to support that function, but you are misuing the term 'fiat currency'. A fiat currency is one that is made by 'decree'. That is what 'fiat' means. That means a government using the threat of violence to enforce something being accepted.
Gold, silver, bitcoin, tulip bulbs, even world of warcraft gold, anything can be a currency without it being fiat. In fact I would argue that 'fiat currency' is an oxymoron, sort of like saying 'voluntary rape'. If you need to use threats to get people to use it, then it is neither a true currency or money by definition. Leaving that aside, If the market (meaning people making voluntary choices) decide to accept something in exchange for goods or services, then that something is a currency or even money but it is not 'fiat', even if it is just tulip bulbs or digitical numbers.
I'm going to let everyone on a secret ..
http://www.veteranstoday.com/2014/07/30/the-coming-return-of-the-real-us...
Then again, why has this been such a secret?
https://app.box.com/s/hfgvcqg7gqh7i27at6sv53ywu87lwarp (Read Me First)
http://www.veteranstoday.com/2012/05/11/the-intel-cowboys/
http://www.veteranstoday.com/2014/12/20/very-very-bad-things/
You mean to tell me Maloney, Holter, Casey, and even Sinclair have not been informed of this? You mean to tell me I'm better informed than these guys?
Naw, you're just drinking the Kool-aid
Hi "Dr. James". When are you guys at VT going to cleanup the typos, bad grammar etc.? Right now VT is looking like a vanity website for Duff and Jim Dean and a few friends (if they don't stray too far out of bounds like Fetzer did). How did VT get involved for so long with a lunatic like Stew Webb?
You sound like a rational person when you do radio shows (like Rense) but some of your posts on VT push the boundaries of credibility. Maybe that's the point, but pointing out that such articles are only useful to "those in the know" is sort of lame.
Duff's claims about having "large bureaus" in cities all over the world and more web hits than CNN are also large, smelly red herrings. The purported purpose of VT is a good one, but its been getting harder to separate the wheat from the chaff lately. Mike Harris does good reporting but he doesn't seem to be too involved with VT anymore. Why?
I believe the reason for the anger is that a lot of just ordinary folks believed in the fear porn marketing by a handful of people. We all heard or read about the COMEX is busted, or it will close any day, silver to go $100 oz and gold to $1000,000 in this month then the next and so and so on. We have heard about the coming total economic collapse and metals won't be had at any price. Now they are constantly using the inventory to contracts ratio that the end is near. As I have said before, the COMEX is used by miners to hedge so they won't receive a collateral call from their lender who funds their mining operations and traders/speculators who want to make a profit trading and not take physical possession with its associated delivery and storage fees. Entities who purchase large amounts of gold and silver do not use the COMEX. The ratios are meaningless. Some of the worst fear porn is that "fiat" currencies are totally worthless and not backed by anything. This is totally false as all currencies are backed by the assets in their reserves, their resources and of course the total production capacity, (both services and manufacturing), of the country. When a country, (like Russia and China), add gold to their reserves, they are backing their cuurency by the metal. They realize that a country doesn't have to back their currency directly as it would limit liquidity and stagnate growth. Another one of course is that Russia and China will back their currencies directly with gold and the dollar will be worthless. Just not true. Even Mike Maloney is totally against a gold back currency. He advocates that gold should be used as a currency directly instead of a gold backing one. He states that their are too many problems with a cuurency backed by gold and just doesnt work especially in a market where the price of gold floats. Can you imagine if you are a country, the price of gold falls and you don't have the ability to purchase more gold? They would have to remove liquidity from their system and the economy would slow. By the way in a video by him a few weeks back, he thinks that silver could possibility go back to $7 handle.
A lot of families bought into this crap and have lost their arse and now with the economy slowing, they really could use those funds they lost. Can't blame them. They bought the hype from no fault of their own. These guys promoting this fear porn are the experts right? Just my two cents worth!
"their are too many problems with a cuurency backed by gold and just doesnt work especially in a market where the price of gold floats"
You have it backwards. Gold doesn't float. Fiat floats.
If we look at a long term chart of a large gold miner such as NEM we see gold is at a level upon which it put in a bottom both 15 and 30 years ago. The current price per ounce isn't a whole lot more than what it costs for them to pull it out of the ground. When it becomes unprofitable to mine gold the mines are left idle decreasing supply and driving up demand. This forms a floor under the price.
Downside here would seem to depend upon whether demand for gold disappears and mines decide to mine it at a loss and literally give it away. Both seem unlikely. Upside relatively speaking is unlimited. Whether the actual bottom to the point was yesterday or is tomorrow is immaterial, the long term risk/reward ratio in gold seems very favorable.
The FUNDAMENTAL human experience is, we don't decide nor determine anything.
We don't decide what is money.
However, we can describe its basic features such as its being a medium of exchange, a unit of account and a store of value.
A collection of scumbags, ranging from Americans to Freegolders, have said that this isn't so. That, for instance, money is not and should not be a store of value.
Your problem is what I wrote above at the beginning of this note.
You, just like I, decide shit.
You may think that this is not so, due to your hubris and the fact that this state of affairs has held for half a century or so, and still does.
The vast majority of the human race, yes, practically ALL of humanity, assume and believe that fiat currency issued out of thin air by the bankers, is money.
You may think that reality consists of what people believe it is.
But, your very own basic human experience is PROOF that this is not so. You only have to ask yourself, When was the last time was it that I decided to decide whatever it is that I think I decided? Your problem is that you actually know the answer. And the answer is NEVER.
So, true, this state of affairs of fiat money and 7 billion idiots who think that they are masters of their destiny [including the mythical 0.01 percent of humanity] can continue indefinitely, assuming that the natural resources available are enough to satisfy the bulk of humanity.
However, you don't DECIDE that whether you are the 0.001 percent or part of the 99 percent.
Just like you don't decide what the flavor of sugar is nor what to think about what you are reading presently, none of you will determine the actual outcome of what will transpire eventually.
You are all less than what comes out of my rear end yet you think you are God.
You see, this world (Imperfection) is the very proof that there is no God (Perfection). How can Perfection create Imperfection?
Hence, what I said above ain't no hyperbole.
Merry Christmas.
"The FUNDAMENTAL human experience is, we don't decide nor determine anything."
So you didn't decide to post those words? Someone else did it? Or you are a hard determinist and 'you' had no free will?
"We don't decide what is money"
Actually, that is exactly how money is decided upon. Money is at it's core like a network standard, a protocol. The more people accept that X is money, the better it fills that function. Like anything else based on network effects, one money tends to wind up dominating (the 'reserve' currency), and like all protocols, one can be a better choice than the other. The best choices for money has the features you later discuss like being fungible, limited, etc. There is however no such thing as intrinsic money.
"But, your very own basic human experience is PROOF that this is not so. You only have to ask yourself, When was the last time was it that I decided to decide whatever it is that I think I decided? Your problem is that you actually know the answer. And the answer is NEVER."
The problem with the hard determinism stance is that it leads to no useful or actionable knowledge. Sure, free will might be an illusion, but it's not like it changes anything eve if it is. You still wrote a post. Are you trying to change people's minds on things? Convince them of your point of view? If free will does not exist then your actions in attempting to convince others is self detonating and pointless. It proves you don't actually believe in their not being choice, or else you wouldn't bother.
I would buy the gold. I see that I can't get tickets to see Adele. It was $150 two days ago. I only want to hear one song.(Hello) That woman can sing. She stops me cold and I have to listen every time I hear it. I have the gift of being an asshole but that woman named Adele can sing. I would spend the money to go see her. She just nails it. I do not care what anyone thinks of me.
So, what drink are you enjoying tonight? For me it's an excellent Pinot Noir, you?
Actually, I was not drinking at the time. I keep odd hours. Someof my best trades have been done in the overnight. Now I am drinking though and I have a bottle of Meyers Rum. I like Adele. I am not paying $150 for a ticket. There is a pretty good chance that I will buy a violin this morning.
I am trying to teach my daughter to play this melody.
https://www.youtube.com/watch?v=1lyu1KKwC74
I played brass and strings are hard but I can do it. I know that I can.
I am glad to know that people hate me. For good people to do nothing is all that evil needs to procreate. Or so they say. When the weekend crowd pulls their heads out their asses we can talk.
Anyone who wants to can look at my balance sheet. I owe you nothing.
You should write detective novels, seriously, you have the perfect writing style for it!
Gold And The Blockchain - The Decentralized Gold Standard On Steroids... https://annrhefn.wordpress.com/2015/11/01/gold-and-the-blockchain-the-di...
EXCERPT
"I could go on ad infinitum on this post, but I will conclude with this rallying cry for Gold Bugs; if you want price discovery of physical gold (as a guide I would look to how much the dollar has lost in value since 1913 and the Fed, down approx 98-99%, so revalue Gold a hundred times higher or a value of approx $100,000.00 per ounce expressed in today’s dollars) then the blockchain is the only way you will free it from the iron grasp of Central Planning… Like Gold, Bitcoin does not rely on Politicians, Governments or Bankers; it is a politics and banking free global decentralized price discovery mechanism, that will change everything… Freegold is Bitcoin, and Bitcoin is Freegold…"
Gold was not worth a $1000 in 1913 so your math is bogus. Get a brain and then try again.
No a gold ounce is worth approx $1000 today, and the dollar has lost nearly 100% of its purchasing power since 1913, so the $1000 dollar price of today needs to go up a hundred times to approx $100,000. You get a fucking brain! LOL
100%? Really? The dollar lost about 96% since 1913. 5 minutes of work is all it took to find in 1913 the price was 20.64 an ounce, applying that inflation rate would come up with under $500 an ounce. But I did not include that long a period in my work on this when I was looking at it in 2007, I believe I started in the 1930s, in 2007 dollars at the time I came up with $700 or so as an average, ignoring the parabolic bubble periods around 1980 and recently (why is it that people who clearly see stock bubbles are blind to a gold bubble?). With real inflation added since then, not CPI nonsene, its about $1000 an ounce, which is where it is now. Of course it can always go lower, I mean, it was under $300 in the early 2000s. What also amazes me is the schizoid believe of some gold enthusiasts where they say on one hand they bought it to retain value, on the other hand they think it will make them rich. Meethinks the "retain value" view is the sensible one.
Upvoting your own post is cheesy as is the satanic nod given in your name.
I consider myself smarter than the evrage bear based on IQ tests (wife is a diag Ed.M) and education achieved. There are many people here who can intellectually whoop my ass with a prefrontal lobotomy and near fatal doses of opiods administered. I know my place. You do not.
Everybody keeps talking about what will eventually happen and everybody now starts to add years to their predictions.
You only need to read up on a bit of history to know how it will end but nobody dares to make short term predictions anymore.
Just because everybody has been wrong for the last 7 years.
Stefan M. is the greatest Austrian turd to ever project himself onto the Internet.
Take his pontification with a bucket load of salt.
First assumption: scarcity in a industrial system which produces a massive surplus
Gold and silver will ALWAYS be worth something, any conjectures beyond that, you would do better spending your time obtaining or honing a marketable profession....
"Gold and silver will ALWAYS be worth something"
Well... gold will if for no other reason than that, as my wife puts it, gold is an "Ooooo! Shiney!" Silver - not so much.
;-D
Hmmm...let's see. Hold gold for ten years or hold a JPM Chase 10 yr CD.
So if you believe the dollar won't fall to being only able to buy 1/1148th of an ounce in the next ten years (lol), then forego the barbarous relic and fork over your cash to the bank.
$1050 * (1.009 ^ 10) = $1148.42
It doesn't matter if I think the dollar will fall to 1/20,000th of an ounce...it only matters if I believe it will get weaker by more than a factor of 1.0937 over the next ten years...which it will.
Try as they might they will never change the fact gold, silver is a precious limited resource and is hard, real, sound money. A piece of gold is True evidence of hard work, they will never change that fact.. They may change the price for awhile, but they cant change what it is.. It is what it is and its been money for a very long time. Why would anyone doubt its real, true money? Do facts scare people? Get it through your fucking heads.. This wont change any time soon, they just keep making "real" money cheaper! Even in the land of OZ gold is still gold, remember?
The people who are trying to change the people's minds about gold dont have a fucking clue what work is? Thats why they have no fucking comprehension of what gold/silver really is? They arent the brightest bulbs we have. Any true evidence of work these days will hold its fucking value... DUH DUH.....FUCKING DUH.... the only reason it wouldnt is because of a corrupt few that choose to manipulate, which cant last forever?
Almost two years Ive been hearing under 1000 gold.. if it dips under 1000 what is left available for purchase will be gone. Meanwhile at the US Mint...Gold eagles sold out for the year... Im not sure if thats even legal for them to sell out? I know if it was silver its illegal for them to run out? Doesnt that tell anyone anything??? Gainesville coins out of 100oz Silver bars again. They can barely keep them stocked.
Just because someone says something is worthless does not change what it is.
I believe in fairy tales. These guys sure can spin a good tale. I also own a little gold but it won't save me from the government. Gold $20,000, that's a death wish kind of thing. There is a lot of gold mining going on at current prices. The earth hasn't run out yet. Get some while you can but don't go crazy over it.
Might want to check the ore percentages the mines are working.
I will buy gold. Say when.
Forget 20K, if or when gold is 5K/oz all us stackers better have 20 x bigger stack of bullets!
Also, stacks of beans, rice, canned vegetables, water...lots of water...shit the list goes on and on because when shtf enough for gold to go to 5K, nevermind 20 the gold itself won't immediately matter at all. Surviving the first leg of mass extinction is all that will matter.
I agree, but approx. 11,000 in gold would be worth approx. 50,000 in your scenario.. So I would consider this piece an integral part of the plan? No? Certainly no less important if you have the means?
You are implying an implosion of the state violence machinery, the breakdown of the state.
This will not happen. The state is now fully militarised and well prepared for anyone's "20 x bigger stack of bullets!"
After all: "State IS an organisation of violence for the suppression of some class....To decide once every few years which member of the ruling class is to repress and crush the people through parliament - this is the real essence of bourgeois parliamentarism, not only in parliamentary-constitutional monarchies, but also in the most democratic republics"
https://en.wikipedia.org/wiki/The_State_and_Revolution
Better option is your own home, agricultural land and physical gold in small denominations, held at home, and purchased without the trace (to avoid possible requisitioning).
They really will have their work cut out for them to "control" the entire US... Good luck with that going "as planned" there's more than a few in the States prepared for Uncle Sham.
Dont most cops/military/.gov have families that they will need to protect...
When SHTF and US$ become worthless, what does the US.g plan to pay the police with and military with so as they will leave their families as bait to the looters?
The current value of all the gold that has ever been mined in the history of Earth is 1/2 of the value of the US mortgage backed security market. $5000 gold is no biggie and neither is $20,000. Start looking for an eco-village. Purposeful community preparedness is FAR superior to anything you can do individually.
Stage 1 - Deflation
Stage 2 - $ Hyperinflation
Stage 3 - Gold-backed new ADR currency
Whilst the 99.% of the population will be brought below the poverty line who will make a profit on all stages?
History may be a good guide to that question:
http://www.jewishencyclopedia.com/articles/12909-rothschild:
"...He made no less than four profits on this {The elector's money}: (1) on the sale of Wellington's paper, (2) on the sale of the gold to Wellington, (3) on its repurchase, and (4) on forwarding it to Portugal. This was the beginning of the great fortunes of the house, and its early transactions may be divided into three stages, in each of which Nathan was the guiding spirit: namely, (1) from 1808 to 1815, mainly the transmission of bullion from England to the Continent for the use of the British armies and for subventions to the allies; (2) from 1816 to 1818, "bearing" operations on the stock exchange on the loans needed for the reconstruction of Europe after Napoleon's downfall; and (3) from 1818 to 1848, the undertaking of loans and of refunding operations, which were henceforth to be the chief enterprises of the house...
(3) As early as Feb. 5, 1817, the Rothschilds had taken up a Prussian loan of 1,500,000 gulden at 5 per cent; and by the end of the following year the brothers in their collective capacity were reported to be the richest firm in Europe; "
The one question that has been pummeled on blogs all over the internet is “…What will retain value when the current debt/fiat bubble bursts?...” For some it is gold and silver. For others it is beans, bullets and booze. For others it is land, physical goods (like art) and commodities.The primary idea is when a hot dog (no bun) costs a $100 bill in future what will act as currency to buy it? Combined with this is what will have a market big enough to be convertible to be money?
“…What will retain value when the current debt/fiat bubble bursts?...”
None o the above. The correct answer is "knowledge." Know how to do things that are useful in all societies, all times. Know how to fish. Know how to cook. Know how to cut down trees without dropping them on yourself or the house. Know how to plant, harvest, and store food, and how to make "derivatives" of raw food. (Such as mead, beer, etc.)
Knowledge will always find you a place.
NoFluer. The problem with your knowledge or skills example is it still needs money or barter to work. I know how to cut trees with my Stihl MS362. But I am not going to cut down a person’s tree 5 miles away for free. I have 6 cords of extra seasoned firewood I can sell that is stored on my property. If fiat went away I would barter for this wood. The point is we must have some type of money or barter or exchange if our monetary system fails…
At base, you exchange your knowledge for goods or services. You can exchange your knowledge of how to make/create things that others value and exchange those things for things you value. Yes, that is barter, but if you are forced to trade goods for goods, you will be at the mercy of the "economy" - ie you have to take whatever "price" is offered for what you have, the value of what you have would be (for you) what you "paid" for it in terms of other goods or services. So if you didn't know how to cut wood (without a chain saw) you're screwed. You'd have to obtain your 5 cords of wood from someone else who knew how to create that firewood. (ie using saws and axes - and knowledge would again come in when it was time to sharpen the saws and axes.)
And as a tip - how long has that 5 cords of wood been sitting there? With every year it sits there the value decreases as it becomes excessively dry - even good firewood degrades to about the same BTU content as cardboard over time. (I heat with wood - depending on the wood type, a typical log becomes "trash" in one to 5 years... +/-, also depending on the beginning btu content of the wood.) When wood becomes too dry, you spend all of your time running back and forth to the wood pile and still freeze your buns off.)
I did a little experiment leaving one face cord of birch at the back of the shed for 26 years. My brother in law has said the same thing you said for years... I'm burning it right now and the stove feels quite hot. It's a little drier weight wise, but burns about the same amount per day. Perhaps a little better as it has less smoke, and it makes a very nice bed of coals.
I read to hoard 2 cycle oil.
Look at the new curencies of Greece since the Captal controls
.
.
I doubt miners are willingly committing financial seppuku by selling off their assets the way they have been, so I have to conclude that someone is causing them to, via manipulations courtesy of artificial price controls downward in price. That governments would be complicit is a given, as many really do like the idea of buying gold on the cheap, i.e. Russia, China and India. The question is, what will be the signal flare that is sent up to start the market correction(s)?
Au took a 20 dollar back-street beating immediately after the FOMC rate hike, then bounced back almost to the same height it had before. Somebody seeking to pull a Rothschild/Waterloo moment on Au holders? Looks like that to me. And they'll probably pull that again next rate hike...if there is one. I got a nasty feeling that we will see "Son of Frankenstein" a.k.a. ZIRP return at a financial theater near us, and in short order...dragging his ne'er-do-well brother NIRP along for future introductions.
Gold is simply a hedge against fiat collapse. All hedges are imperfect as they assume there will be "markets". Illegal drugs are a hedge, too, and those markets appear robust and liquid in spite of being highly illegal and pursued vigorously by law enforcement. One could argue a kilo of pure heroin or cocaine is a similar hedge.
Hedging gold with ammo is also prudent. A dozen kilos of ammo per ounce of gold or pound of silver seems decent. Thus if FRNs become essentially useless, silver and gold naturaly rise up as a reasonable alternative. People with tangible goods that are universally needed are likely to exchange goods for gold and silver at that stage. Should the SHTF literally, and martial law become the norm, the only other items of value are barter items, or weapons with ammo as force multipliers. At that point it is time to find a remote, small country where your PMs might bribe officials and offer a modicum of civility, away from the insanity of the herd. And finally, should that approach also fail, the only remaining hedge is the knowledge of how to turn commonly available items into tools of warfare against the state to severely wound the beast. I cite the actions and tactics of the French Resistance in WWII as an example of effective force multipliers. 5,000 resistance fighters essentially tied up 1 million German soldiers and changed the outcome. Vietnam's resistance to Ghengis Kahn centuries ago is another similar example. Disruptions of food, water, fuel, energy and communications behind enemy lines do great damage. Asymmetry is a bitch and leaders know it.
Having completed my hedging to the best of my ability, and having just read "enjoy the decline", I'm focusing on enjoying what is possible in the now. Though I expect calamity it would be nice to be wrong. A preparation, not required, is not wasted.
Someone else said it. All that's needed, for evil to prosper, is for good men to do nothing. We're doing nothing.
Economic uncertainty brings out the likes of Mr. Maloney, Robert Kiyosaki, Harry Dent and a host of others too long to list, every time, right on time... Regardless what you think of them; their opinions, their track records, etc., it's opportunism in action and you can basically set your watch to it...
If only there was a way to eliminate the power of the Federal Reserve without men with guns. hmmm....... youtube: Bitcoin vs. Political Power.
To Priests of the gold cult:
IF the USD is worthless, then how can gold, the magic preserver, be worth 20,000 of something that is worthless ?
Gold goes to 20,000 because the dollar loses even more value than the 95% of the value it already has lost? There is no value in the dollar, thus it takes 1000 dollars to by one small oz of gold?....FUCKING DUH! What are we going to do with you. It works exactly the opposite... http://pricedingold.com/us-dollar/ Might want to educate yourself..
Here is the scorecard:
PM Cult Prediction Reality
HyperINflation HyperDEflation
USA Treasuries abandoned, worthless Treasuries give HUGE profits
USD abandoned, worthless USD at RECORD HIGH
USA economic collapse + depression Stagnation at ~2% growth
PMs preserve "value, wealth" PMs DOWN ~40% + MORE
The ONLY people WORSE than the FED at predicting and forecasting the future are the high priests of the PM cult and PM peddlers.
Still the high priests of the PM cult and the PM peddlers keep transmitting their fantasy, delusions and hype on overdrive, on TV, radio, billboards, web ads, blogs, etc, and many people who cannot afford the loss of their precious limited savings, ESPECIALLY THEIR IRA/401K, are still seduced and beguiled by the continuous hype about collapse, depression, apocalypse, etc into squandering even more of their savings on the zero-income free-falling LOSER that PMs are.
PMs are enriching ONLY the high priests of the PM cult and the PM peddlers and impoverishing the droids who march to their tune.
Deflation before inflation like they discussed in the video.
Here in Australia gold is pretty much the only hedge against crazy value ascribed to the US Dollar however your points are still pertinent. Ultimately its force of arms that preserves the status quo - force of arms and k ike control of much of the western media - one could argue the k ikes control the us military too. ln the old days people needed to have confidence in money and the system, confidence is no longer required as we are more sheep like and debauched/fatter than ever before lol
Or you buy Plutonium (er planitum)
btw plutonium is the best hedge against the western aggression
you can have a small nuke or a create a hydrogen bomb from the same
(if Gaddafi had any , he would not have been murdered like a dog by western criminal regimes)
Forbidden words used : hello NSA & CIA
Meanwhile, in reality, gold is going to crash.