GoldMoney Chairman James Turk outlines the reasons why “everyone should have a precious metals portfolio.”  James outlines the stark fiscal facts about government debt problems across the developed world, and why central banks’ determination to devalue the currencies they issue is causing a bull market in precious metals. He demonstrates why gold remains undervalued, despite the great gains seen in its price over the last 11 years, and a means of assessing whether or not the yellow metal is fairly valued or not.

James argues that we are living in “fiat currency bubble”, similar though many magnitudes greater than the recent housing bubbles seen in America, Ireland, Spain and other countries, or the “Tech bubble” in NASDAQ stocks in the late 1990s. The USA is racing towards hyperinflation, courtesy of the Federal Reserve’s monetisation of US government deficits.

Full interview below:

 

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    • Yes, from our perspective, it does seem slow.  But then, practically every great event crept up upon the people it harmed very slowly until it “suddenly” burst upon them.  Those of us who are AAA (Awake And Aware) will have seen this coming for years while those who are not AAA will be horribly surprised by it and will ask, “Why didn’t anyone tell us that this would happen?”.  Memory can be a very selective thing and the will easily forget that a lot of us DID tell them only to be brushed off with, “Well, that can’t happen HERE!”.

      One reason why this seems to be so is that we now have a world economy, so both the good and the bad aspects of that happen in many places, diluting the much sharper effects that would be seen if it was more localized.  The US IS exporting inflation to other countries via our money printing policy.  Understandably, most of the countries we owe money do not much care for this, so are now taking steps to decouple the US dollar from their economies.  They are doing this by slowly selling off their US Treasury paper assets and using US dollars to buy REAL things, such as farms, ranches, fishing fleets & fish farms, mines, oil wells and refineries, and profitable businesses of many kinds.

      Someday, in the next 5-10 years I would guess, the US dollar will no longer be used in international trade settlements.  Either a new currency will be created to take its place or countries will simply use their own currencies for trade settlements.  Countries that maintain their currency within a range of stable values will get the best deals while those that do not will get poorer deals or perhaps no deals at all.  Worldwide trade is simply becoming more important than any one currency and need not depend on the money printing policy of any one nation.
       

    • Well, these dead snails will soon use all their boosters that are also known as QEs to go faster to the bottom. I think it will either be the US dollar or the euro that will go down first for the collapse.

  1. As for me I am getting mostly pissed, tired and frustrated with all of the Expert Guru’s who post articles here
    telling us all how great it’s going to be when I see London Futures on Silver down .85 cents and ounce and Gold down
    $18.85 and ounce tonight coming out of the gate. No one is capablle of stating any truths at all, the whole philosophy
    of Gold and Silver is going to the Shithouse regardless. I hold both Silver and Gold physical and I guess I will watch all
    of it go to Hell in a handbasket as well. As far as I can see there will never be a “WHEN”, the whole damned country is
    corrupt the government is corrupt, wall street is corrupt and the central banking system is totally corrupt!. We ain’t gonna
    win period!!!!!

    • Exactly! The financial “experts” keep repeating the obvious thing which is that gold and silver will go up higher on the long term due to inflation. We all already know that!

    • The PPT boyz are working late to hit the Asian market.   All natural trading, right????  No gov’t intervention.  Nothing to see here.  Move on.

    • In the end, gold and silver will beat the crap out of all fiat currencies when all the currencies around the world would collapse while precious metals will be the only store of wealth left afterward.

  2. Hyperinflation is 100% guaranteed that it will happen especially when the Federal Reserve itself has publicly announced that QE infinity is a reality. Hyperinflation will begin when the Federal Reserve reintroduce the 500$ bill or the 1000$ bill in circulation.

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