James Turk: Gold, Silver and the Coming Economic Crisis
Over the past three weeks, approximately 11 trading days, silver has suffered one of the longest downward spirals in a great many years, and some have even argued this is the longest ever. I try not to look a gift horse in the mouth and simply use this manipulated beating to acquire more money at a more favorable exchange rate. Some people call it the “price” of silver, but in doing so, the monetary history of silver is discredited and wiped from memory. This has to change, but I digress.
I sat down with James Turk, Founder, GoldMoney, to find out what exactly is going on with silver, gold, and our current state of monetary change. Central banks, the world over, have pushed economies, both large and small, to the brink of collapse. The monetary magic that has been foisted upon the world is beginning to unravel. Fiat currency, created from nothing and assigned a value will return to its intrinsic value of zero; history has proven this time and again. Gold and silver are still the only money that has survived and stood the test of time. Time will prove this be the case once again.
If you don’t believe me ask anyone in the Eastern world which has true value – their government issued currency or the family’s gold horde? Ask yourself this – for what purpose have China and Russia been adding gold to their official gold holdings? Is it to create more jewelry and more trinkets, or for the purpose of reintroducing gold to the monetary system? What about all the physical gold that has been passing through the Shanghai Gold Exchange? Are the citizens, companies, and possibly other sovereign nations acquiring near record amounts of gold because it has no value?
This is to say nothing of what is happening in India. The government of India and the latest scheme to separate the people from their gold has not only failed miserably, it is now creating a massive gold run in the country. The past two months have seen an exponential rise in the volume of gold entering the country through official channels. India is well known as the gold smuggling capital of the world, so the actual volume of physical gold moving into India could be much higher than what is officially reported.
This brings us to the BRICS nations, and more specifically Russia and China. Both nations have agreed to open a shared gold market in their capital cities, to help facilitate gold acquisitions for India, Brazil, and South Africa. As these nations continue to acquire more gold, we have to circle back to my earlier question – for what purpose is all this gold being acquired? Let’s not forget the nations along the New Silk Road (One Belt/One Road) are all acquiring gold, as it will be one of the trade items.
What I learned a long time ago is that if you wanted to be wealthy a person, you should act and do as a wealthy person. In this case, we have entire nations whose wealth is rapidly surpassing that of our own. The soon to be new “middle class” will be in countries like China, Russia, and India. These “wealthy people” are all acquiring gold. Why would I stand idly by and not “act as if”?
Mr. Turk does a masterful job of putting it all together and delivering a power-pack 20-minute show.
. Article by Rory Hall.