We are in a Fiat Currency Bubble-James Turk

James Turk: Gold Will Reach $11,000 an Ounce in the Next Five YearsBy Greg Hunter’s USAWatchdog.com 

Gold expert James Turk says, “Mr. Bernanke is so anti-deflation he’s willing to risk hyperinflation, and we are on this path of hyperinflation given the policies we are following.”  Turk contends gold is a good value right now.  Turk says, “Because it is money outside the banking system, it doesn’t have any counterparty risk, and that is very important as this crisis continues to unfold.”   Turk predicts, “Either we cut back on spending or the dollar is going to collapse. . . . Those are the two choices.”   Turk’s advice, “By owning physical metal, you are preparing for what looks like a collapse of fiat currencies.  In fact, I call the environment we are in now a fiat currency bubble.”  Turk predicts gold will reach “$11,000” per ounce in the next five years.

Turk goes on to say, “It might come sooner.  It depends on when confidence finally breaks, and we’re getting very, very close to that stage.  There’s nothing holding the dollar together but confidence.”  Join Greg Hunter as he goes One-on-One with James Turk of GoldMoney.com.

Comments
  1. Ugly

    The spending cuts won’t happen anymore. It is impossible. With SS payments and pensions and medicare, we will only increase spending. Too many people rely on government spending for their jobs and food. Thus, spending will continue until things collapse, and then it is too late.

    Best to just prepare for it. America is asleep. It will not be any fun. Even the most prepared will still be affected by what is coming.

    • Greg

      Ugly,
      Hopefully affected less. Thanks for the comment.
      Greg

      • Allan

        Greg- What good will gold do someone when the dollar collapses and they have no food and there is chaos and rioting in the streets?

        What about these “fema camps?” Do you think thats for when the dollar collapses?

        • Greg

          Allan,
          All I know for sure is the data and the math says we cannot sustain the path we are on and a collapse is coming. prepare the bast you can. DO NOT GIVE UP. We neede as many pweople as possible taking care of themselves because the government will not and cannot do it.

          • Allan

            For sure. A big issue I see is people buying gold on paper. Whats gonna happen when the bottom falls out and they dont have their gold?

            I agree people need to prepare the best they can. I think this whole thing is far reaching- more than 95% of people think it is.

            Remember the Los Angeles riots in the early 1990′s? Thats nothing compared to whats gonna happen.

  2. Charles H.

    Hey Greg,

    Another TOP calibre guest; another good interview. It’s fascinating and terrifying at once that so many experts in their field are saying just about the same thing – it’s going to blow.
    On a personal note – I bet many fellow newsmen where you worked at before couldn’t even get near the excellent men you have brought on board. USAWatchdog (International!) Job well done.

    • Greg

      Wow, Thank you Charles H. for this very nice first comment.
      Greg

  3. Rebecca

    Reality and, yes, practicality would deem that either taxation for Social Security and Medicare must go up, up, up – or disbursements from those programs must go down, down, down. Or a combination of tax and cut.

    Yet all of life is like a two-sided coin. The other side of the coin, also a reality, is that if taxes go up or disbursements go down, the end result will be the same.

    Cut Social Security benefits and people will have less money to spend.
    How many 70 year olds are going to be able to find jobs to replace their lost income. Cut Medicare and what ripple effect is it going to have in the ENORMOUS medical/pharmaceutical industries and the economy in general?

    If the government doesn’t cut spending and raise taxes, it is said the economy will collapse. Simple logic can deduce that.

    But if the government ceases to pump MEGABUCKS into the economy through SS checks and Medicare/Medicaid payments, who or what is going to fill the financial vacuum created.

    The Baby Boomer generation is no small segment of society. Add to them the seniors already on SS and that is a massive amount of “buying power” that will be cut if SS payments are cut. What would that do to a teetering economy?

    Is the government so blind, as is often implied, that politicians are not able to see reality or discern what is practical? Are they too cowardice to “do something” because they might lose their job on Capitol Hill?

    Or do they do nothing because the truth is — the end result (economic collapse) has been set in stone through the reckless stewardship of the country’s wealth for decades. Maybe they are truly concerned about the massive amount of hurt reducing SS payments will cause.
    Maybe they understand the fear SS/Medicare cuts will create and what fear will create. Fearful people are mighty force to come against. (I guess we understand why the government keeps buying more and more bullets.)

    The collapse is going to come. It can’t be stopped now.
    Maybe it is better, metaphorically speaking, to “let the people eat bread” until the bread is gone.

    Hopefully, the people with eyes open will take today’s “bread” and figure out, as best they can, how to make it last through the coming famine. However long it takes for the collapse, I personally am hoping for as long as possible. The current economic climate has made it that many, like myself, do not have the money to invest in gold and silver. It does not matter how often or how loud the voices shout that gold and silver is a must to protect oneself against the collapse. There are many of us, with eyes wide open, just trying to survive today financially.

    It is like the parable in the Bible of people putting their money in a purse with a hole in it. Incomes are the only things not going up.

    Survival today is getting very difficult for a lot of people.
    We’re going to have to do a whole lot of “trusting in the God Lord” to help us through the coming economic famine.

    For those heavily dependent on their gardens, like my family, I think we would all be wise to learn about drought-gardening. Times are scary in more ways than one.

    • Greg

      Rebecca,
      The first place I would start cutting would be the continuing bank bailouts. Thank you for your comment and analysis.
      Greg

  4. Rebecca

    Correction:

    However long it takes for the collapse TO COME, I personally am hoping for it to take as long as possible BEFORE IT COMES.

    I am not in a hurry to see people scared and hungry and …

    • Greg

      Rebecca,
      but it is coming that’s why DHS is stockpiling 1.6 billion bullets.
      Greg

      • Rebecca

        “… that’s why DHS is stockpiling 1.6 billion bullets.”

        Which is preferable?
        A quick death (sudden and total financial collapse and its ensuing chaos — and government intervention) …

        or “death by a thousand cuts”? (Usher in austerity measures that step by step lead to the same financial collapse, causing more and more hardship along the way – and finally to government intervention.)

        Which is preferable?
        I guess everyone has their own thoughts on how they want to see the end come.

        It is just simply two ways to get to the same outcome.

        • Rebecca

          Lastly …

          What is not a reality is that the economic mess will ever get fixed — in a pleasant way.

          Congress knows this.
          They are not making a single sincere effort to find the answer, because an answer does not exist.

          It is now maneuvering to get the blame put on the “other side.”

        • Greg

          Yes Rebecca, I agree with you, but things will be much easier for those who prepare.
          Greg

          • art barnes

            Yes, Greg, Congress and the elite know the end is coming because there is no way to fix fiat money in severe deficit mode, there is no political will to have austerity cuts that could even slow it down considerately because that would derail whats left of the economic engine, its just to far too upside down. I WONDER WHICH PET PROGRAM OF CONGRESS SPECIAL INTEREST BROKE THE CAMELS BACK!

          • Rebecca

            Those who can afford to prepare.

          • Jim H

            Art
            May have been the one where they encouraged people to buy homes knowing they couldn’t pay for them (they still are supposed to do credit checks aren’t they?) and after chopping them up and selling them all over the world knowing what they were selling was toilet paper. Then the Bank Bailouts may have been the nail in our coffin.

  5. William Betts

    Greg:
    Thanks for having James Turk on your newscast. He is a super guy that I admire very much. Goldmoney.com is outstanding place to get into the gold market, and if you have money and don’t have gold you are fooling yourself. The value of fiat money is heading in one direction and that is south. Gold buyers need to remember one thing – the price of gold never changes – paper money changes. There is a story that goes around the UK. The price in gold of a pint of beer never changed from 1700 until 1917….. Pretty good Betts

  6. Robert Abernathy

    Greg,
    James Turk is and has been a board director of a little company in South Africa called DRDGold. While James Turk talks a good game, he seemed to have very little influence over curtailing the shenanigans that went on at this company. As a significant shareholder a few years ago (hundreds of thousands of shares), I was absolutely raped so James Turk has no credibility with me and therefore should not be qualified to comment on behalf of us so called goldbugs.

    • BlobMan

      You will notice that the Gold Bugs make outlandishness predictions and no one in the gold community ever brings this up. Turk has been so wrong in his predictions, Sinclair stated gold was going to 10,000 and he now states 3500 to 4500. Schiff was wrong about the US dollar collapse and Sprott Mutual Funds are down 30 to 40%…but no mention of that.

      I personally hold gold but the accountability of the gold experts is shameful. The relationship between they gold experts and the alternative media is rather incestuous at best.

      These guys are on these sites for a reason and its not for your benefit…just follow the money.

    • James Turk

      Robert

      There were shenanigans as you say, but they happened before I became a director. My first board meeting was Feb 2005 when the company was almost insolvent. You can see from a price chart the big drop in its share price occurred before my first meeting.

      It took several years to solve the previous problems and then define and implement a new strategy. The results have been good. DRD’s share price has been in an uptrend for 2 years, even though the price of most gold mining shares have been heading lower during this period.

      It is also worth noting that DRD has paid an annual dividend for 5 years, and just last month for the first time declared an interim dividend.

      I think DRD is on the right track, but like all mining share investments, there are risks. These always need to be considered before making any investment.

      Regards
      James Turk

      • John Macall

        James,

        I might be late to this party, but I also have an opinion on this matter. I too was a DRD investor that took it mercilessly up the kazoo. Isnt it a fact that you have been with DRDGold since 2004 and NOT 2005 as you state? The record seems to disagree with your memory. All that aside though, I have vivid recollections of being serially and anally raped multiple times by the share dilutions and share options vestments that enriched Mr. Mark Wellesley Woods as all of us shareholders were left to twist in the wind. All while we were smiled at by that low life jerkoff that gleeced is clean. Just Guess who I mean.

        • James Turk

          John

          I was appointed a director at the end of Oct 2004, but as I said in my post, my first board meeting was in Feb 2005. So my involvement in the company should be evaluated beginning at that Feb 2005 date.

          Regards
          James

      • Robert Abernathy

        James,

        I do see the luke warm dividend announcements, but I have to wonder if this is just a ploy to help DRDGold win back its alienated shareholder base just prior to launching a renewed paper assault on shareholders by way of gratuitous share dilutions assisted by Investec and extended stock option gifts (thefts) to top directors. A lot of people remember how Mark Wellesley Wood carted off the cut off limbs and appendages of the company that rightfully belonged to shareholders. He did so with impunity as if he were entitled to the entire company treasury. I have to say that as a burned shareholder that had my face ripped off, I am twice shy on this share and will be damned before I do it again.

        • James Turk

          Robert

          I am aware of the dilution and its consequences. I had been very mindful to make sure the dilution stopped, and it did. I don’t have the exact date at hand, but there has been no dilution for a few years now. In fact, there was a small share buyback awhile ago.

          Regards
          James

    • Trader Jim

      Robert,

      Your only mistake was falling in love with the stock. In South Africa, the name of the game for top management is put on a good show and grab what you can while you can, which is natural, since 90% of the real profits now need to go towards reparations for blacks that have been mistreated in ZA for hundreds of years (just like the states). That said, you can still make money with this issue just as many of have been doing, but you gotta trade. Even Mark Wellesley Woods considered DRD ADRs to be trading shares and even told his sucker shareholder base that it was good that we shorted the share (and the sorry sucker shareholders believed him !!!!! … LOL) . There is a really good opoortunity comming up soon if you read the technical charts right. A lot of us have been waiting for the next wave and its just about here. At around $8.08 or $8.15 is what we call a hidden short pivot where a lot of us will be shorting the crap out of this ADR. So we short em down all the way to around the $5.96 to $6.08 range after running the stops and then cover our short positions at the lower price and make lots of money doing it. Best of all, you can borrow the shares owned by the shareholders going long from their own brokerages firms (SWEET). There are enough shareholders that freakout, they just dump the share once we get a little momentum going. Its great! We then wait a while for the ADR to recover and do it all over again. DRD has been the perfect issue to do this with over and over and over again. Works like a charm every time. Good luck trading if you decide you joun us. If you are just going to pay attention to headline earnings and cash costs and attributable this and that and all the other mumbo jumbo, you are just going to end up dazed and confused and profitless.

  7. art barnes

    I hope your audience realizes there is no protection in “paper gold”, another appropriate term could be “fiat gold”. In my mind only physical gold that you have in your possession will be of any worth in a economic collapse or severe downturn. I’m glad you & your guest discussed some of that issue surrounding the paper gold game. One wants to make sure that paper/fiat gold is not simply substituted for fiat currency as a trick of the central banks. Thank you for the interview.

  8. THETHOUGHTPOLICE

    We’re either in or fast approaching a death spiral, whereas spending cuts or increased taxes have the same effect; which is less discretionary spending, which leads to increased deficits. Couple this with a global economy, where someone somewhere can do your job for less. A severe decline in our standard of living is immenent, a wholesale collapse possible. When? Maybe a year or two…

  9. shawn

    When one realizes that they are living a constructed reality inside of a reality, That they have been hypnotized into a world of fear. When an event like this comes and wakes the sleeping giant, the ones who lived mostly in the constructed reality will be squashed under the falling structure of the reality. The more they take away the better, maybe one will learn to be total solvient, totally free!

  10. jc davis

    Greg, I like the dog analogy. 4 dogs fight for 1 bone. The largest dog guards it with his life. When the others get desperate enough they will distract the large one enough for one to swipe the bone. When one gets the bone, and runs with it all the others will fight for it causing all 4 dogs to become weaker. Currencies are starting to get very desperate.

  11. Ted Kramedas

    As long as governments are run by politicians, there will be no austerity.
    Since most developed nations are monetizing along with the U.S., the dollar
    could hold up for a while. But when the collapse comes, and it certainly will,
    it will be a world wide collapse of fiat currency and since that has never happened
    before, no one knows what will ensue. We are all headed into the unknown abyss
    and we are picking up speed as we go.

  12. Adam

    Greg,

    I read an article recently that “The Fed Mulls Putting a Not For Sale Sign On It’s Assets”

    Basically the Fed would never sell off it’s bond purchases and therefor would not realize a loss.
    What do you make of this? Perhaps you could ask one of your guests?

    Here’s a link to that article: http://www.reuters.com/article/2013/03/08/us-usa-fed-exit-idUSBRE9270QP20130308

    • Greg

      Adam,
      If the Fed did sell, it would have to disclose a very big loss and those “assets.”
      Greg

  13. jay

    So many people are so concerned about the price of gold going up or down and they’re completely missing the point Greg, the price of things or commodities doesn’t change very much, if anything it stays the same, it is the price of the dollar that is going down. Therefore we have inflation and most people have come to accept this as normal because price of things go up over time, however inflation is nothing more than plain theft or robbery/thievery of the government. With the dollar constantly depreciating, it only makes sense that the prices of things, whatever it may be, will always be becoming ever more expensive. It is completely insane to hoard dollars or have your assets in paper. Thanks for all that you do.

  14. FNPMitchreturns

    the ultimate flip …. inflation makes your dollar grow …… now that is funny …. just my thought … another great interview Greg, Thank You and thank you to Mr Turk.

    • Greg

      We both thank you for your kind words FNPMitchreturns.

  15. Joe Banister

    Greg thanks for the excellent interview with James Turk. You’ve done a great job with USA Watchdog. I wanted to introduce you to the Tax Honesty movements latest work with 5 attorneys and one ex IRS special agent presenting the facts regarding a liability statute.

    https://www.youtube.com/watch?v=RWEppiS_BDQ

    Best Regards,

    Joe Banister
    Former IRS Criminal Investigation Division Special Agent

  16. Edward Ulysses Cate

    It’s interesting that the first syllable of “confidence” is “con.”
    So as ordinary folks finally figure out the con,
    confidence will simply disappear.
    Great interview by two respected gents.

    • Greg

      Thank you Edward and Art for the weighing in here.
      Greg

  17. Fraser

    Hi Greg
    A summit has been called in Sep 26-28 in Xi’an to discuss a “new world currency”, designed to stop destructive currency wars etc. It is hosted by China but with the full backing of the SCO (Russia, the “stans”, India, Turkey etc) and the WTO, IMF etc have been invited…
    http://www.euroasiaforum.org/gscs2013/
    This new currency will almost certainly involve Gold and Silver, which means that all players now have only six months to get themselves set. So let the games begin!

    • Greg

      This is very good info. Thank you. Is there any wonder why central banks are buying gold?

      • Fraser

        I can confirm that “the American powers that be” are VERY afraid of gold. Newcrest (Australia’s top miner and one of the top 5 in the world) continues to get slammed every day by none other than JPMorgan and Goldman Sachs. They have crunched the price down to a 5 year low (with huge short positions), even while the broader market is trading at five year highs. Miserable sh_ts… why don’t they just print an extra couple of trillion / quadrillion and buy all the miners and all the physical instead! It will save them a lot of pain in the long run…

        • Greg

          Fraser,
          Thank you for the info and “confirmation.”

  18. f.a. rahman

    Another great article of truth and reality.

    By the way, I heard Mr.Hunter on coast to coast recently , wow, I almost want to sign up just to get a copy of that show.

    I have never heard Mr. Hunter so fired up, vocally unstoppable, firing round after round with pristine clarity and conviction, he sounded like Moses, exposing whats really going on with provable facts and sources of the current state of affairs.

    If THAT was on cd, there would be no price to high to pay for it, it was that good.

    This is the real journalism and factual research the average folks have no idea or care is available.

    I guess if one was taught in schools and raised up that if you wish upon a star that Santa Claus and the powers that be will eventually right everything and they won’t let it get that bad, people stand in line all day long for that Jim Jones lemonade.

    It’s just like The Matrix, even if some know its an illusion, they would rather keep it going than be free from enslavement, and would help the power in any capacity to keep it going, it just seems easier.

    Most would NOT choose the other pill.

    Too bad.

    • Greg

      Thank you for the positive feedback on a very negative issue.

  19. btruth

    The Gold Confiscation Act is still on the books & enforced since 1933. The Patriot acts & the NDAA, also state, that under martial law, all property, including people, will be Confiscated. No bartering will be allowed. No personal wealth will be allowed, of ANY KIND. So you could waste your fiat money on useless “precious” metals. Or you could be Smart & invest in LEAD, SEEDS & a Bible!

  20. anony--mouse

    SEND THIS TO ALL YOUR FRIENDS–JUST FIGURED IT OUT–

    The FED is completely out of control–It prints money from thin air, is going to buy trillions of $ of Treasuries which are up to the taxpayers to pay off–TO WHO–WHO IS GOING TO OWN THIS DEBT–THE BIG BANKS OWN THE FED–Therefore the Big Banks and their owners–the .1% will have the taxpayers on the hook to pay off these debts brought about by counterfeit fiat….Just as the Big Banks used the depositors money to play their derivatives game –they take off with the money and leave the depositors with the losses.. This is a scam.

  21. Al

    James Turk!! What a great interview. This guy has been around a long time, and knows his stuff. I hope he comes back on again with Greg Hunter, and I believe he’s right on about gold being undervalued right now. Silver has been called “the investment of the decade” and makes a good hedge against the coming inflation or perhaps even collapse of world economies. Cash may soon become trash and silver “Rounds” could be used for barter. Coin stores sell these at spot price plus a small fee. John Williams was on [Shadow Stats.com]with Greg awhile back and now Mr. Turk gives us the same advice—–we are in deep doo-doo Better be prepared————————-

  22. Tony of CA

    Hi Greg,

    What are your thoughts on the quote from Ed Harris at the Credit Writedowns, “Jeremy Grantham on the government debt problem
    the US uses government money as the currency of account, there is no government budget constraint in the short or long run. Though even so-called Keynesians like Paul Krugman act like there is. The reality is that government can spend as much as it wants because it pays for everything with IOUs it manufacturers i.e. government money. The REAL constraint is just that REAL resource use and real resource allocation. To me, this is where the focus has to be.”

    • Greg

      I think he’s correct but I want to add one thing. What happens when the world no longer accepts your IOU’s? We will one day find out.

  23. Liquid Motion

    Greg,
    Collapse is nigh !!!

    NOPE…..

    Collapse is here, brother. Everyone take a deep breath…and now eyes wide open.

    James,
    “Gold is very good value here” !! (3:45)
    Relative, absolute, personal, economic….sometimes the “value” to someone is different to that ascribed/inferred by others. I think he refers to value in the sense of monetary (fiat) equivalent when making this statement. After all “value” is a measure of worth.
    So …re-phrasing Mr Turk…Gold is “worth” buying (swapping dollars for) at this level. Can gold mean anything else in terms of value ?
    How much will that barrel of Oil cost me again…oh yeah 1/14 oz gold.

    Vive la revolution

  24. Jim H

    Good morning Greg and fellow watchdogs.
    The stock market has not done at all any of what we conservative gold minded folks said it would. All I read, hear and believe says the world will continue with the large swallowing the small at a rapid rate. Today we have 6 big banks in America which will at some time if not already be swallowed by the IMF or World Bank. Unions will continue to form such as the EU, South American Union, African Union etc. I do not see a gold standard or fiat currency down the road. I also do not see transparency going anywhere but further in the dark. Digits, whether on a card chip or embedded chip (for our own safety and protection of course) will be the new currency. In many ways it already is.
    At some point I feel we must let go of old ideas and begin to speak openly about the way things are rather than how we wish things were.
    In how many areas can we say we have the technology, resources and people power to produce our good but we can’t because we lack money in whatever form. Seems kind of nuts to my humble mind.

    Have a great Thursday!

  25. bahmi

    What percentage of “gold” that is purchased is fiat gold or paper gold?

  26. frosty

    Greg,

    Bubbles burst but wisdom remains intact.

    “For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows” – 1 Timothy 6:10

    How this wisdom has played out…

    Those few who control the global money supply, that we all love so much, have used this mechanism to slowly gain power over governments and, through that, the ability to engineer global events. But these beings are not the ones we see occupying temporary positions in the various national government offices. The official duty is merely to help destabilize the economies and governmental of earth’s few remaining independent nations in order to create a context that gives political cover to invade, subdue and bring those remaining independent nations under control. That’s why no matter which puppet is elected or appointed to a government office, the trajectory toward the establishment of a tyrannical, global government remains securely intact.

    It’s about more than just subduing nations however… far more. Those who currently run the show are also calling for a human population reduction from a current level of 7 billion people to around 500 million people. So, for their satisfaction, 97 out of every 100 human beings must perish! For the love of money, and in our sorrows, we watch a global genocide unfold as earth’s human population is reduced through the operations of endless wars, famines, poisoned food and water supplies, pestilence and the economic and social chaos which inevitably follows these events.

    This is real evil playing out and it will not stop simply because some of us hold gold in an attempt to preserve our wealth as our economic bubble bursts. Nor will not stop because we sit and complain that our politicians are greedy and corrupt. Are we like helpless prisoners, crouching and complaining in dark cells while waiting patiently to be taken out and shot through the back of the head?

    For things to change, we the people must become moral enough to care about others more than we do about money or about the dictates of those who pose as our “leaders” and would herd us into a hell on earth. The change will come through the acts of the millions, not through the dictates of the few.

    We already have the moral compass needed to accomplish the needed change. Whether we believe in God or not, 5 simple Christian commandments (5 – 10) tell us exactly how we should act toward others and we had better damned well find the courage to follow them because our time is short and there is absolutely no other way out.

  27. Chip

    Another great interview Greg. Always enjoy your posts. OT but thought perhaps we could convince some of your readers to write their congressman/woman about the Assault Weapons ban coming to the Senate floor. Don’t have to use my words but here is what I put forth…

    There can be no (zero) compromise on our Second Amendment rights. I understand the Senate Committee has approved an assault weapons ban and that it is on its way to the floor of the Senate. The expansion of the Federal Government since 9-11 is unconscionable and must be reversed. It is becoming clear to the American people that both parties are bent on continual increase of the central state. This is not how or what our country was founded on.

    I have recently reviewed the CBO budget outlook for 2013. I am amazed to see that in the baseline budget projection that they anticipate our Federal Government will DOUBLE in size over the next ten years!!! This is entirely UNACCEPTABLE! You need to be doing the exact opposite. Washington DC has grown so large, corrupt, and over reaching that it is absolutely destroying both our economy and our civil liberties. We have out of control agencies (read EPA, DOJ, DOA, DOE, DOT, et al) that regulate every aspect of our lives. These unelected bureaucrats need to be reined in at every level, regulatory burden reduced, and the majority of these functions need to be returned to the states. There is way too much duplication at the federal and state levels and Washington DC does not need to be telling the residents of the various states telling them what is good for them. This reduction of regulatory burden along with a complete simplification and over haul of the tax code is the only way back to prosperity and freedom.

    I urge you to return the Federal Government to its Constitutional Principles. I understand this is no easy task, nothing worth anything ever is. The path Washington is currently on will ultimately lead to our destruction.

  28. RUSS SMITH

    Hi!, Patrons Of USAWatchdog.com Et Al:

    In my opinion we live in the construct of an oxymoronic world. Just look @ how the world bends over backwards, in order do keep the US $ which represents no gold anymore at all, on top of the economic trash heap; while gold shares which represents at least gold in the ground being harvested at their lowest valuations ever. The gold miners who stand to be OUR economic saviors are being constricted in their finite operatons attempting to bring to the surface the gold that the Big Banks now covet; while the US $ is in high regard and demand, in order to keep the world afloat by inflation. Housing should be priced in siver $’s alone and then we would see where prices in silver money stands regards housing would we not? We have invested out time in maintaining this scam for over at least 4 decades now while developing our rants against the outcome but nothing is being done about it except to make a far worse than it already is. That gold will reach $11,000 per troy oz.; compared to today’s $1,590 price, goes to show you that the world’s fiat money condition is not scheduled to get any better but worse huh?

    CHEERS:

    RUSS SMITH, CA. (One Of Our Broke Fiat Money States)
    resmith@wcisp.com

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