Dr. Ron Paul, former Congressman and Presidential Candidate of Ron Paul Liberty Report; suggests owning gold and silver. Happy Holidays and Merry Christmas to our listeners and viewers!
- Astronomical monetary expansion and fiscal spending is sending gold higher.
"I think we got into the most recent bull phase of gold. You know, there's been several that I sort of have followed along from the very beginning since I got involved in precious metals before Bretton Woods broke down in the 1960s when the Austrian economists were talking about it and warning us about what was to come. But gold, when it went from $1800s the first go-around, there was a correction in 2011 and it went down to $1000, and people [said] "Oh, it's all over, it's all over" and it took a while to get back up to $1800.
When that gold went from $1800 down to $1000 in 2016, I identified that - and that's my personal thing because I don't trade and I like to look at charts – but I believe in my own mind in 2016, it was the beginning of another major, major change. Not just recently when it went over $2000. But I think that $1000 back in 2016 indicated that we were going to start – and usually, when gold gets into a real hot bull market, it isn't like doubling – it does a lot more than doubling, of course, $1000 is already doubled. But sometimes when you look at what happened after Bretton Woods went down, gold was $35 – $40 an ounce and it went up to $1800 Percentage-wise, it's unbelievably large.
He continues:
...I don't know what's going to happen next week but I do know that if Washington continues to do what they're doing and what they've been doing and I've been complaining about: Debt is being run up, printing money is run up, mount investment continues, and I think it's astronomical. And the market is more powerful than government. Governments [are] all about [what] they can do when they see trouble coming:
"We'll change the interest rates next week or we'll do this or that," and it sort of, at times, calms the markets. But eventually, they're not going to be able to, because there will be an eventual big crash and every day you look at the spending and the deficit going up, you can assume we're getting closer to that date."
- Eventually, the profligacy will imploded the entire global edifice.
- The US National Debt increased over $2 trillion in merely six months!
- BRICS could be adding several new members in January - big news for gold holders.
- New currencies must be convertible to gold to constrain tyrannical policies.
- Silver may represent the best means for most folks to prepare for economic collapse.
- Precious metals remain the de facto, reliable currency throughout all of history.
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About the author
Chris Waltzek is host, executive producer, writer/editor, best-selling author, webmaster, sound engineer and computer guru at Goldseek.com Radio. He earned his bachelors degree in Business Economics and holds a dual MBA in Business Economics & Information Systems. Upon graduation he worked as the firm-wide Industry Analyst at one of the nations largest law firms, Jones, Day, Reavis, Pogue. Chris is currently a Ph.D. student in Management / Finance at NCU.
