Never forget that the current monetary system—the one that has been in place now for 50 years—exists solely upon CONFIDENCE. Remove confidence and you're left with nothing.
On August 15, 1971, President Nixon decreed that the US dollar would no longer be redeemable for the gold owed, even to foreign governments. This bad decision was a desperate attempt..
Bill Holter & Andy Schectman join us to explain what happened, the negative changes since 1971 and how the market is on the verge of forcing us back onto a gold standard.
My gut feeling is that the so-called "everything bubble" is about to pop. It will very shortly be bucking not only seasonal headwinds, but a notorious history of stock market crashes and panics in the September-October period.
It has been 50 years since Richard Nixon took us "temporarily" off of the Gold Standard.
How has that affected our currency?
Our standard of living?
Our future?
Indeed, it long has seemed that the entities rigging the monetary metals markets have lost all concern about being caught and causing suspicion. It has seemed that they have wanted investors to believe that it is impossible..
We no longer have business cycles; we have credit cycles. Central banks and governments, not to mention investment banks and investors, are all using credit in formerly unbelievable ways ...
