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.
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Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.